Dalaroo Metals has secured an option to acquire up to 80% of the Bongouanoa Gold Project in Cote d’Ivoire, tapping into a richly mineralised region with strong historical drill results and high-grade gold anomalies.
- Acquisition of up to 80% interest in 400km² Bongouanoa Project
- Significant historic drill intercepts including 2m at 60.47g/t Au
- Staged earn-in over four years with US$6 million exploration commitment
- Engagement of experienced local partner Yao N’Kanza and advisor Dr Paul Kitto
- Plans for aggressive exploration to define JORC-compliant resource
Strategic Entry into a Proven Gold Belt
Dalaroo Metals (ASX – DAL) has announced a transformative step in its growth strategy by entering into a binding joint venture agreement to acquire up to an 80% interest in the Bongouanoa Gold Project, located in the Sefwi-Comé Belt of Cote d’Ivoire, West Africa. This 400 square kilometre permit application area lies within one of the continent’s most prolific gold provinces, known for hosting multi-million ounce deposits.
The project benefits from extensive historical exploration, including soil geochemistry, rock chip sampling, and both aircore and diamond drilling. These data sets reveal multiple high-grade gold intercepts, such as a remarkable 2 metres at 60.47 grams per tonne gold from 39 metres depth, alongside broad zones of mineralisation that underscore the project's potential.
Robust Historical Data Sets a Strong Foundation
Historical drilling has delineated significant gold mineralisation with intercepts like 17m at 6.79g/t Au and 3m at 34.29g/t Au, indicating both depth and grade potential. Additionally, a 16km by 10km gold-in-soil anomaly with parallel anomalies has been identified, highlighting multiple untested targets. The presence of 15 artisanal mining sites further confirms the area’s gold endowment and offers immediate exploration focus.
Dalaroo plans to leverage this rich dataset to rapidly advance exploration, aiming to delineate a JORC-compliant resource. The company’s CEO, Chris Connell, emphasised the opportunity to build on prior successes in the region, citing parallels with Tietto Minerals’ rapid development of the nearby Abujar Gold Project into a producing mine.
Experienced Local and Strategic Partnerships
Integral to the project’s prospects is the involvement of Mr Yao (Fred) N’Kanza, a respected local shareholder and former country manager for Tietto Minerals, who brings invaluable regional expertise and a track record of successful project development. Complementing this, Dr Paul Kitto, a seasoned gold exploration expert with a history of discoveries in Cote d’Ivoire and a key figure in Tietto’s growth, will join Dalaroo as a special advisor, enhancing technical and strategic capabilities.
Structured Earn-In and Exploration Plans
The acquisition is structured through a staged earn-in over four years, requiring escalating exploration expenditure totaling US$6 million and culminating in a minimum 20,000 metres of diamond drilling. Upon completion, Dalaroo will hold an 80% interest, with the vendor free-carried until a mining decision is made. The agreement also includes a resource definition royalty and a 2.5% net smelter royalty on production, aligning incentives for all parties.
Exploration plans are ambitious and immediate, including aggressive drill testing of existing targets, expanded soil geochemistry in underexplored northern areas, detailed mapping, trenching, and regional drilling to test new targets. This comprehensive approach aims to rapidly convert historical data into a defined resource and potentially advance towards development.
Positioning Among West Africa’s Gold Explorers
Dalaroo’s entry into Cote d’Ivoire places it alongside a cohort of successful ASX-listed gold explorers and developers active in the region, such as Perseus Mining, Turaco Gold, and Aurum Resources. The company’s local technical team and management’s West African experience provide a solid platform to navigate the operational and regulatory landscape.
While the project is still subject to permit approval and verification of historical results, the combination of high-grade intercepts, extensive anomalies, and strong local partnerships positions Dalaroo for a potentially significant growth phase in a globally attractive gold jurisdiction.
Bottom Line?
Dalaroo’s Bongouanoa acquisition could be a pivotal chapter in its West African gold ambitions, but upcoming exploration results will be critical to validate the project’s promise.
Questions in the middle?
- How will Dalaroo verify and build upon the historical drill data to define a JORC resource?
- What timeline and milestones will the company set for exploration and resource delineation?
- How might regional geopolitical and permitting risks in Cote d’Ivoire impact project advancement?