Dalaroo Metals has bulked up its strategic land holding in West Africa by bolting on the Bondoukou gold project in Côte d’Ivoire, boosting its footprint in one of the world’s active gold jurisdictions.
The acquisition hands Dalaroo control of a fully granted mining lease in the Birimian terrane, about 35 kilometres northwest of the lucrative 4.5-million-ounce Tanda gold deposit run by Endeavour Mining.
The company says Bondoukou sits on geology similar to that of Tanda, featuring shear zones and contacts between volcanic and granitic rocks that play perfect hosts for channelled gold fluids.
The procurement will cost Dalaroo just $100,000 upfront in cash and the issue of 9 million shares ($585,000) for 80 per cent of the project. The agreement stipulates a US$1.67 (A$2.36) per ounce royalty on any defined gold resources to its partner, Goldridge Resources. The royalty is capped at 3 million ounces and is coupled with a 2.5 per cent net smelter return on future production.
Fortuitously, the agreement is heavily back-weighted, affording Dalaroo the luxury of proper exploration success without substantial upfront costs.
Early positive signs of gold are evident in the extensive artisanal mining on the mining lease, which stretches over roughly 9km of strike length in the northern area.
Dalaroo says the ground is yet to see any modern drilling or detailed sampling; however, the structural setup and surface signs provide a clear starting point for exploration.
The company’s in-country geos have already mobilised to site, with initial mapping and surface sampling kicking off right away to build out the potential of this latest Côte d’Ivoire gem.
Dalaroo Metals chief executive officer John Morgan said: “We are particularly excited by the quality of the project and the compelling commercial terms we have secured. The free carry through to feasibility and minimal upfront cash outlay provides an exceptional platform to aggressively pursue exploration while maintaining strong capital discipline and protecting shareholder value.”
Dalaroo has moved quickly to flesh out its West African gold portfolio in preeminent Côte d’Ivoire, as the gold landscape in-country continues to consolidate. Just last month, Chinese mining giant Zijin Gold acquired the Canadian-owned Allied Gold project for a cool $5.7 billion - a massive price tag as the majors tighten their grip on the country’s landscape.
Bondoukou sits within a highly endowed Birimian greenstone belts that deliver millions of ounces every year. The project is a considerable hike from the company’s other Côte d’Ivoire assets, sitting some 150km northeast of its Bongouanoa tenure.
The company says it is still rapidly progressing Bougouanou towards drill-ready status. Ongoing field mapping and integrated targeting studies will be used to build on historical high-grade intercepts such as 17 metres at a handy 6.79 grams per tonne (g/t) gold, including a bonanza 2m running 60.5g/t gold.
Bondoukou complements the earlier stage Bongouanoa play by adding a fully permitted licence with widespread artisanal workings, creating a more substantial platform for systematic exploration and potential resource definition in the same prospective terrane.
Bongouanoa spans 400 square kilometres in the Sefwi–Comé Basin of the gold-rich Birimian greenstone belt – prime terrain for multi-million-ounce gold deposits that litter West Africa.
The project straddles major regional structures, such as the northeast Sefwi–Comé Shear Zone and the northwest N’Guessan Shear Zone, which often guide gold placement in surrounding operational neighbours.
Once mapping and sampling wrap up, results will feed into a priority target program for a potential follow-up exploration phase, including reverse circulation drilling to probe structures beneath the artisanal workings.
In a junior mining landscape where jurisdiction and commodity mix matter, Dalaroo’s Côte d’Ivoire buildup positions it to tap into West Africa’s hottest gold address, where major miners are increasingly circling for the next big discovery as the country cements its status as a premier gold jurisdiction.
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By Andrew Todd
