Dalaroo Metals (ASX:DAL) has this week taken up full project ownership and operational control at Blue Lagoon in Greenland, where the Australian critical minerals explorer has already been working these last few months.
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The explorer was able to green-light the move after landing all conditions set out in the original agreement regarding the Gardar-located licence. Blue Lagoon is held under MEL 2022-07 and sits on a provincial belt known to be rich in zirconium, niobium, and rare earth element mineralisation prospectivity.
The call to clinch the acquisition came on Dalaroo’s maiden reconnaissance field program over the southern chunk of the project; the explorer used that program to validate geo-mapping and geo-surface sampling.
The Aussie company’s on-site team also made a preliminary assessment of surficial material and weathering profiles across the wider Blue Lagoon area.
Between these early findings and historical regional geochemical work run by the Geological Survey of Denmark and Greenland in 1979, the explorer felt like they would be foolish not to snap up control.
“The completion of the Blue Lagoon acquisition represents an important step in Dalaroo’s strategy to build a diversified portfolio of high-quality assets with exposure to critical minerals,” said Dalaroo chief John Morgan.
“Our initial program marks the first step in applying contemporary geological, geochemical, and mineralogical approaches to the project. While the project remains at an early stage, the geological setting and near-surface exploration concept align well with our focus on assets that have scale potential.”
The project is in an early stage, but Dalaroo is moving quickly; next, the company expects to receive the 33 samples already sent away for laboratory analysis. These will then be used to hone in on specific exploration areas.
This morning, DAL shares opened at 4.2c each.
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