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Dalaroo Metals (ASX:DAL) has significantly expanded its footprint in the Birimian Greenstone Belts in Côte d’Ivoire, scooping up four gold exploration permits – Djekanou, Yamoussoukro, Molonou, and Kokoumbo – close to other large-scale operations being run by several ASX-listed miners.
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This content has been prepared as part of a partnership with Dalaroo Metals Ltd and is intended for informational purposes only.
The company’s October buy-up hands it a combined area of 1,367km² in West Africa and includes two granted tenements and two applications.
The deal will cost Dalaroo 13.25 million shares (subject to shareholder approval), shipped to seller Red Rock Exploration, as well as a resource definition royalty of $2 an ounce for any JORC-compliant resources defined at an indicated level or higher. All four projects are also subject to a 1.5% net smelter royalty.
The acquisition leaves Dalaroo ready to get to work at a locale quite near the Ivorian capital and close to Yaoure (owned by Perseus Mining) and Bonikro (operated by a conglomerate between F&M Gold Resources and African Gold).
Historical exploration across the four projects includes soil geochemistry, rock chip sampling, aircore drilling, and diamond drilling; HotCopper understands several high-grade intercepts were reported in years past.
The most advanced now under Dalaroo’s control is Kokoumbo, which already hosts as many as 30 diamond drill holes from when Predictive operated there. Notable results shared by Dalaroo included 7.5 metres at 16 grams per tonne gold from surface and 1.5 metres at 14.9g/t gold from 87 metres.
“This acquisition marks a major step forward for Dalaroo as we build a high-quality gold portfolio in Côte d’Ivoire,” chairman David Quinlivan said.
The company targeted Côte d’Ivoire, Mr Quinlivan explained, because it’s “one of West Africa’s most prospective and underexplored gold provinces.” The Birmian Greenstone Belt land package was a clear pick of the litter, considering it’s right in the middle of multiple multi-million ounce deposits.
“These [four Côte d’Ivoire] projects have already returned encouraging high-grade gold intersections and surface geochemistry, with scope for rapid advancement and new discoveries,” Mr Quinlivan said today.
“We are leveraging strong in-country expertise and partnerships to accelerate early-stage work and set up meaningful drilling campaigns.”
It’s all left DAL with an air of excitement; the stock popped +25.9% today.
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