Dalaroo Metals (ASX:DAL) is emerging as something of a swing trader target up 180% YTD after maiden high-grade gold results posted from its Bondoukou Gold Ridge Project (BGRP) in the Ivory Coast.
Later this month, a diamond drill rig will be on-site to test the same area from which RC drilling returned 18m @ 7.3g/t gold and 23m @ 2.14g/t gold from surface.
While the grades for the surface hits are lower, the combination of both results – both high-grade gold and mineralisation at surface – have been enough to catch the eyes of investors.
While Dalaroo Metals shares were down -4% at 2.00pm AEDT, the company is overall still seeing fairly low intraday liquidity with only around $380,000 worth of trades exchanging hands by mid-afternoon.
Still, though, on HotCopper and other online arenas, DAL is increasingly attracting attention – and it’s probable that if it can hit (and retain) a share price of 20cps, that might start to get a ball rolling.
The $46M market cap company has just short of 390M shares on issue, of course, drilling results will be the ultimate decider.
Dalaroo CEO John Morgan was keen to talk geology on Friday when announcing a ramp-up of activities on-site following the RC drill results – and the RC rigs are still running on-site.
“We will go back to the BDRC002 collar and drill steeper to test the zone at depth, then step out 80 metres in each direction along strike,” Morgan said.
“By drilling two holes on each step-out section, at 60 and 70 degrees, we should get a much clearer picture of the orientation and continuity of the mineralisation.
“At the same time, the rig continues to work through the orientation program day and night, with assays from BDRC003 and BDRC004 expected in early November,” Morgan said.
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