Skylark Minerals has kicked off its largest drilling campaign at the Zaranou Gold Project in Côte d’Ivoire, confirming deeper and thicker gold mineralisation that could expand its 364,600-ounce inferred resource.
- Maiden 23,000m drilling campaign underway at Zaranou
- Initial assays reveal high-grade gold at depth and along strike
- M’Basso deposit shows resource growth potential beyond historical shallow drilling
- Cash position of A$7.5 million supports ongoing exploration
- Portfolio includes advanced and prospective West African gold assets
Maiden Drilling Confirms Depth and Grade Upside at Zaranou
Skylark Minerals (ASX:SKM) has delivered a promising start to its maiden drilling programme at the Zaranou Gold Project in Côte d’Ivoire, with initial results confirming that gold mineralisation extends significantly deeper and along strike beyond historical limits. The first twelve holes returned standout intercepts including 24 metres at 3.07 g/t gold from 233 metres, featuring a high-grade 1 metre zone grading 26.52 g/t Au. These findings validate the company’s geological model and suggest the system remains open in multiple directions.
The M’Basso deposit, previously defined by shallow historical drilling averaging just 50 metres depth, is now being tested to an average depth of around 180 metres, revealing thickening zones and improving grades down plunge. This supports the potential to materially grow the existing inferred mineral resource of 11,700 ounces at 1.0 g/t Au in that area. Drilling is ongoing, with diamond drilling planned to extend testing to approximately 500 metres depth, aiming to further delineate high-grade structures.
Large-Scale 23,000 Metre Drilling Campaign Targets Resource Growth
The current 23,000-metre programme combines 20,000 metres of reverse circulation drilling with 3,000 metres of follow-up diamond drilling. It is designed to deliver new discoveries, depth extensions at Ehuasso, and resource confirmation and conversion at M’Basso. The Zaranou project hosts a total inferred mineral resource estimate of 364,600 ounces at 1.8 g/t Au, entirely above 200 metres vertical level, leaving significant scope to grow this figure through deeper and broader testing.
Skylark’s exploration strategy is supported by a robust historical dataset, including over 85,000 metres of mainly air core drilling and more than 5,850 soil samples, which have helped define multiple priority targets along approximately 47 kilometres of prospective strike. The company’s Managing Director Michael Jardine highlighted the strong correlation between new drilling results and historical data, which boosts confidence in the geological model and the interpretation that mineralisation remains open.
Strong Cash Position Supports Aggressive Exploration
At quarter end, Skylark reported a cash balance of A$7.53 million, providing an estimated 4.2 quarters of funding based on current expenditure rates. The company’s recent capital raise of A$10 million in late 2025 underpins its aggressive drilling campaign and broader growth ambitions in West Africa. Operating and investing cash outflows related primarily to exploration and evaluation activities were offset by financing inflows, including proceeds from equity and option exercises.
Skylark is also advancing its broader Côte d’Ivoire gold portfolio, which includes the Maphai and Vavoua projects. Maphai, under application, covers 398 km² along strike from Zaranou in a well-established mining district, while Vavoua lies near the Abujar Gold Mine and offers significant greenfield exploration potential at depth. The company’s pivot to West Africa is reflected in its decision to wind down non-core assets in Greenland, Australia, and Brazil.
The ongoing drilling results at Zaranou build on earlier findings that revealed thicker and higher-grade gold intersections at M’Basso, which were reported in March and validated the company’s structural interpretations. This momentum is expected to continue as the campaign progresses through 2026, with further assay results anticipated to refine resource estimates and guide deeper diamond drilling phases.
Bottom Line?
Skylark’s initial drilling success at Zaranou reinforces its strategy to unlock deeper gold resources in Côte d’Ivoire, but the extent of resource growth will hinge on continued assay results and the company’s ability to sustain its funding runway.
Questions in the middle?
- How will upcoming diamond drilling at Zaranou impact resource confidence and grade distribution?
- What exploration results might emerge from the underexplored 47km strike extent at Zaranou?
- Could Skylark’s portfolio acquisitions in Côte d’Ivoire accelerate its transition to a multi-asset gold producer?