Dalaroo Metals has entered a binding agreement to acquire an 80% interest in the Bondoukou Gold Project, a highly prospective asset in Côte d’Ivoire’s Birimian greenstone belt. The acquisition aligns with the company’s strategy to expand its West African gold portfolio with minimal upfront cash outlay and significant exploration upside.
- Acquisition of 80% interest in Bondoukou Gold Project with fully granted mining lease
- Project located near Endeavour Mining’s 4.5Moz Tanda deposit in a prolific gold terrane
- Extensive artisanal workings indicate potential near-surface gold mineralisation
- Initial exploration program includes geological mapping, geochemical sampling, and planned drilling
- Consideration includes shares, options, cash payment, and royalties, subject to approvals
Strategic Expansion into West African Gold Belt
Dalaroo Metals Ltd (ASX: DAL) has taken a significant step in its growth strategy by securing an 80% interest in the Bondoukou Gold Project, situated within the renowned Birimian greenstone belt of Côte d’Ivoire. This region is globally recognised for hosting some of West Africa’s most substantial gold deposits, including the nearby 4.5 million ounce Tanda deposit owned by Endeavour Mining.
The Bondoukou Project benefits from a fully granted mining lease and favourable geological conditions characterised by extensive greenstone belts and structural features conducive to orogenic gold mineralisation. The presence of widespread artisanal workings over approximately 9 kilometres of strike length provides surface evidence of gold occurrences, although these have yet to be verified by systematic sampling or drilling.
Exploration Plans and Potential
Dalaroo’s in-country geology team has already mobilised to commence a comprehensive first-phase exploration program. This will focus on detailed geological and structural mapping, supported by systematic surface sampling to refine target areas. Following this, the company plans geochemical sampling and, subject to permitting and results, an initial Reverse Circulation drilling campaign to test mineralised structures at depth.
The phased approach is designed to efficiently evaluate the scale and continuity of mineralisation, leveraging modern exploration techniques to unlock value. The company emphasises disciplined execution and strong community engagement to ensure responsible advancement of the project.
Commercial Terms and Ownership Structure
The acquisition consideration includes the issue of 9 million fully paid ordinary shares and 3 million options to Goldridge Resources SARL, a cash payment of A$100,000, and royalties based on resource definition and production. Notably, Dalaroo will free carry Goldridge’s 20% interest through to a decision to mine, maintaining capital discipline while aggressively pursuing exploration.
Completion of the transaction is subject to several conditions precedent, including shareholder approval, regulatory consents from Côte d’Ivoire’s Ministry of Mines, and formal registration of the project transfer. The agreement also anticipates mandatory state participation upon grant of an exploitation permit, which could dilute Dalaroo’s interest to approximately 72%.
Outlook and Strategic Significance
CEO John Morgan highlighted the acquisition as a major milestone that strengthens Dalaroo’s footprint in a highly prospective gold region. The combination of minimal upfront cash outlay, free carry arrangement, and strong geological potential provides a compelling platform for growth. The company’s focus on methodical exploration and community engagement positions it well to unlock the project’s value over the coming months.
As Dalaroo advances its exploration portfolio in Côte d’Ivoire, the Bondoukou Project represents a promising addition that could deliver significant shareholder value through discovery and resource definition in a proven gold province.
Bottom Line?
Dalaroo’s entry into the Bondoukou Gold Project sets the stage for a disciplined exploration campaign with the potential to reshape its West African gold ambitions.
Questions in the middle?
- How will initial exploration results influence Dalaroo’s drilling plans and capital allocation?
- What impact will Côte d’Ivoire’s state participation have on project economics and ownership?
- Can Dalaroo replicate the success of nearby tier-one deposits within the Bondoukou licence area?