Dalaroo Metals (ASX: DAL) has announced it will acquire a 100% interest in four gold projects located in Côte d’Ivoire, West Africa. Dalaroo Metals is an Australian exploration company focused on discovering and developing high-quality mineral deposits. The acquisition, made through a binding agreement with Red Rock Exploration, covers a total area of 1,368 square kilometres within the Birimian Greenstone Belts.
The acquired permits, including two granted tenements, Djekanou and Yamoussoukro, and two under application, Kokoumbo and Molonou, have undergone significant historical exploration. This includes extensive soil geochemistry, rock chip sampling, and diamond drilling. Dalaroo intends to leverage this existing data, particularly from the Kokoumbo Project, previously explored by Predictive Discovery Ltd (ASX: PDI). Historical drilling at Kokoumbo yielded significant gold intercepts, such as 7.5 metres at 16g/t Au from surface in hole KOD001 and multiple other intersections with notable gold grades.
Chairman of Dalaroo Metals, David Quinlivan, commented that the acquisition represents a major step forward in building a high-quality gold portfolio in Côte d’Ivoire. He highlighted the encouraging high-grade gold intersections and surface geochemistry already identified within the projects, offering scope for rapid advancement and new discoveries. Dalaroo is building its local technical team and engaging with local industry representatives to accelerate early-stage work and establish drilling campaigns.
Under the agreement, Dalaroo will issue the vendor 13,250,000 fully paid ordinary shares, subject to shareholder approval, and pay a resource definition royalty of A$2 per ounce of minerals defined under the JORC Code to a minimum Indicated JORC Resource standard. The company has also received commitments to raise $1,350,000 through a placement, the proceeds of which will go towards the new projects, existing projects, and working capital. Dalaroo’s Non-Executive Chairman, Mr David Quinlivan, will retire at the upcoming AGM.
