Dalaroo Metals has broadened its gold footprint in Côte d’Ivoire with four new project acquisitions while completing initial exploration in Greenland’s critical minerals sector. A $1 million capital raise supports these strategic moves as leadership changes unfold.
- Acquisition of four new gold projects in Côte d’Ivoire expanding landholding to over 1,768 km²
- Maiden exploration program completed at Greenland’s Blue Lagoon Zr-Nb-REE Project with assay results pending
- Appointment of Frank Twum-Berima Bosompem as Country and Exploration Manager in Côte d’Ivoire
- Successful $1 million placement to fund exploration and working capital
- CEO Chris Connell resigns with transition period underway
Strategic Expansion in West Africa
Dalaroo Metals has significantly expanded its presence in one of West Africa’s most promising gold provinces through the acquisition of four additional projects in Côte d’Ivoire. These new tenements; Djekanou, Yamoussoukro, Molonou, and Kokoumbo; add 1,368 square kilometres to the company’s portfolio, now exceeding 1,768 square kilometres across five projects in the Birimian greenstone belt. Historical drilling results from these areas reveal compelling gold grades, including intercepts of 7.5 metres at 16 grams per tonne and 4.5 metres at over 4 grams per tonne, underscoring the potential for district-scale discoveries.
Complementing these acquisitions is the Bongouanou Gold Project, where previous drilling has yielded exceptional results such as 17 metres at nearly 7 grams per tonne and a high-grade 2 metres at 60 grams per tonne. The company is preparing for a new drilling and geochemical program, supported by the recruitment of local geologists and logistics personnel under the leadership of newly appointed Country and Exploration Manager Frank Twum-Berima Bosompem, formerly of Tietto Minerals.
Greenland Exploration Milestone
In Greenland, Dalaroo completed its maiden field program at the Blue Lagoon Zr-Nb-REE Project, targeting zirconium, niobium, and rare earth elements critical to global supply chains. Led by experienced geologist Ole Christiansen, the program collected stream sediment and auger samples confirming widespread mineralisation consistent with prior geochemical anomalies. While assay results are still pending, the initial findings support the company’s strategic positioning in this geopolitically significant jurisdiction. Depending on these results, a follow-up field season could be initiated promptly.
Western Australia and Corporate Developments
Activity in Western Australia was subdued due to seasonal conditions, with no fieldwork conducted at the Lyons River and Namban projects during the quarter. Notably, Delta Lithium withdrew from the Lyons River joint venture, returning full control of the tenure to Dalaroo. The company has focused on data review and planning for future drilling, particularly at the Browns Prospect, where previous assays confirmed Broken Hill Type mineralisation.
On the corporate front, Dalaroo successfully completed a $1 million capital raise through a placement heavily supported by existing shareholders, directors, and local partners in Côte d’Ivoire. This funding will underpin exploration and working capital needs. Additionally, a subsequent $1.35 million placement was announced to finance acquisition costs and ongoing programs, pending shareholder approval. Amid these developments, CEO Chris Connell tendered his resignation for personal reasons but will assist during the transition, ensuring continuity.
Financial Position and Outlook
The company reported quarterly expenditure of approximately $559,000, with exploration costs accounting for over half. Cash reserves stood at $780,000 at quarter-end, excluding proceeds from the subsequent placement. This financial footing, combined with strategic acquisitions and leadership appointments, positions Dalaroo to advance its exploration agenda across three key jurisdictions, Côte d’Ivoire, Greenland, and Western Australia.
Bottom Line?
Dalaroo’s aggressive expansion and strategic funding set the stage for pivotal assay results and exploration milestones in the coming months.
Questions in the middle?
- When will the assay results from the Blue Lagoon project be released, and how might they impact Dalaroo’s Greenland strategy?
- How will the CEO transition affect operational momentum and investor confidence?
- What are the timelines and expected outcomes for the upcoming drilling programs in Côte d’Ivoire?