Skylark’s West Africa Pivot: Can New Gold Assets Deliver on Promise?

A Transformational Quarter for Skylark Minerals

Skylark Minerals Limited has marked a pivotal moment in its growth trajectory with the acquisition of a gold project portfolio in Côte d’Ivoire, West Africa. The centerpiece of this portfolio is the Zaranou Project, boasting a JORC-compliant inferred mineral resource of 364,600 ounces at 1.8 grams per tonne of gold. This acquisition, completed swiftly following its announcement, instantly elevates Skylark’s presence in a prolific gold region at a time when gold markets remain robust.

To underpin its exploration ambitions, Skylark successfully raised A$10 million through a well-supported capital raise. These funds are earmarked for advancing drilling and exploration activities at Zaranou and other projects within the portfolio. The company also strengthened its technical leadership by appointing Arnand van Heerden as Vice President of Exploration. Van Heerden brings a wealth of experience, having overseen the development of a 40 million ounce gold portfolio at Nord Gold, positioning Skylark well for the upcoming field season.

Portfolio Overview and Exploration Potential

The newly acquired portfolio comprises three key projects, Zaranou, Maphai, and Vavoua. Zaranou, located approximately three hours from Côte d’Ivoire’s capital Abidjan, covers 287 square kilometres with a substantial 47-kilometre prospective strike length. The resource is defined over just 8 kilometres of this strike, indicating considerable exploration upside along the remaining corridor. Historical drilling has been relatively shallow, averaging 62 metres, suggesting deeper zones remain largely untested.

Maphai, an exploration licence application covering 398 square kilometres, lies along strike from Zaranou and is situated in a well-established mining district. Vavoua, with an option to acquire up to 100%, covers 537 square kilometres near the operating Abujar Gold Mine, a multi-million-ounce deposit. Although prior exploration at Vavoua has been limited, early drilling and sampling have returned encouraging gold intersections, highlighting its potential for greenfield discoveries.

Technical and Operational Readiness

Skylark’s geological team has been busy preparing for a rapid start to drilling in early 2026. The company’s confidence is buoyed by preliminary metallurgical test results from Zaranou, which indicate excellent gold recoveries of approximately 99% via conventional carbon-in-leach processing. This suggests relatively straightforward processing pathways for both oxide and fresh rock material.

The earn-in structure for Zaranou allows Skylark to increase its ownership from an initial 51% to 100% through staged payments and study completions, providing a clear pathway to full control. Similar earn-in terms apply to Maphai and Vavoua, reflecting a strategic approach to asset consolidation.

Strategic Shift and Corporate Developments

In a notable strategic pivot, Skylark has relinquished its Citronen Project in Greenland, winding up its Greenland subsidiary to focus resources on West Africa. The company ended the quarter with a cash balance of A$2.89 million, with additional funds from the second tranche of the placement received in January 2026 following shareholder approval.

Managing Director Michael Jardine emphasised the transformational nature of the quarter, highlighting the rapid deal closure, the strengthened technical team, and the exciting exploration prospects ahead. Shareholders can anticipate further updates as drilling commences and exploration results emerge.