How Will Dalaroo Unlock Gold Riches in Côte d’Ivoire’s Birimian Belt?

Strategic Acquisition in a Proven Gold Province

Dalaroo Metals Ltd (ASX – DAL) has taken a significant step forward in its West African ambitions by entering a binding agreement to acquire a 100% interest in four gold projects located in the Birimian Greenstone Belts of Côte d’Ivoire. The acquisition encompasses two granted tenements; Djekanou and Yamoussoukro; and two applications; Kokoumbo and Molonou; covering a combined area of 1,368 square kilometres. This region is renowned for hosting multi-million-ounce gold deposits, making it a highly prospective area for exploration and development.

Leveraging Robust Historical Exploration Data

The projects come with a rich legacy of exploration, including extensive soil geochemistry, rock chip sampling, and notably, 30 diamond drill holes previously conducted by Predictive Discovery Ltd and Equinox Minerals. These drill programs have yielded encouraging high-grade gold intercepts, such as 7.5 metres at 16 grams per tonne from surface and other significant results that underscore the potential for economically viable mineralisation. Over 42,000 soil samples and 122 rock chip samples further highlight the presence of gold anomalies that remain largely untested.

Aggressive Exploration Plans and Local Expertise

Dalaroo plans to rapidly advance exploration activities with a focus on aggressive drill testing of existing targets, additional geochemical sampling, detailed mapping, and trenching. The company is also building a strong local technical team and engaging respected industry representatives in Côte d’Ivoire to ensure efficient and culturally informed operations. The ultimate goal is to delineate an initial JORC-compliant resource that could pave the way for future mine development and production.

Transaction Details and Funding

As part of the acquisition, Dalaroo will issue 13.25 million fully paid ordinary shares to the vendor, subject to shareholder approval, and agree to pay a resource definition royalty of A$2 per ounce on minerals defined under the JORC Code at an Indicated Resource level. The vendor has also notified the company of an existing 1.5% net smelter royalty on the projects. To fund exploration and working capital, Dalaroo is undertaking a placement to raise $1.35 million, with shares priced at a slight premium to recent trading levels. The placement includes attaching options and participation from Non-Executive Director Bilal Ahmad, reflecting confidence from insiders.

Leadership Transition Amid Growth

In governance news, Non-Executive Chairman David Quinlivan will retire at the upcoming Annual General Meeting after playing a pivotal role in the company’s strategic restructuring and growth over the past several years. The board has expressed gratitude for his leadership and is actively seeking a suitable replacement to continue guiding Dalaroo’s expansion in West Africa.

Outlook

While no JORC resource has yet been defined, the combination of high-quality historical data, strategic landholding, and a clear exploration roadmap positions Dalaroo Metals as a company to watch in the West African gold sector. The coming months will be critical as drilling campaigns commence and the company seeks to convert potential into defined resources.