Dalaroo chases more gold after spectacular Côte d’Ivoire hit

Dalaroo Metals is gearing up for a fresh drilling assault on what could be a major new discovery at the Wilfred target in Côte d’Ivoire, after maiden drilling at its Bondoukou project delivered a spectacular hit of 18 metres at 7.31 grams per tonne (g/t) gold from just 63m.

The company will shortly launch a fresh five-hole, 1250-metre program to test the strike and depth of the high-grade discovery in a country fast becoming one of West Africa’s premier gold destinations. That initial discovery hole, the second ever drilled at the project, sent the company’s share price rocketing more than 126 per cent to a high of 17 cents after the discovery announcement two days ago.

Notably, in addition to delivering the stunning interval, the discovery hole also returned a second, deeper zone of 16m grading 1.46g/t gold from 113m and was complemented by the program’s very first hole, which returned a solid 23m at 2.14g/t gold, importantly, right from surface.

The first of the five programmed new holes will be collared at the same spot as the discovery hole but drilled at a steeper 70-degree dip to test for mineralisation that might be lurking below the original 18-metre intersection. The company will then step out with two pairs of holes approximately 80m northwest and 80m southeast along strike.

‘The obvious next step is to find out where that high-grade zone goes, and these five holes are designed to do exactly that.’

Dalaroo Metals chief executive officer John Morgan

Each step-out section will consist of two holes drilled at different angles, known as scissor holes, to provide multiple pierce points through the target system, giving Dalaroo its first real look at the potential orientation, true width and continuity of the gold zones.

Dalaroo chief executive officer John Morgan said: “The second hole drilled gave us a standout result on our very first fence at Wilfred, with 18m at 7.31 grams per tonne gold. We will go back to the discovery hole collar and drill steeper to test the zone at depth, then step out 80 metres in each direction along strike. They will be the first follow-up holes of our maiden program.”

Gold mineralisation is hosted in a strongly silicified volcaniclastic rock carrying quartz-sulphide veining and pyrite. The follow-up holes are designed to see if this promising geological unit and its associated gold mineralisation continue down-dip and along strike.

These first results form part of the company’s initial 24-hole, 4200-metre orientation program, the opening salvo of a much bigger 102-hole, 12,000-metre reverse circulation program targeting the Wilfred, Mag and Ali prospects at Bondoukou. As of early October, nine reverse-circulation holes for 1750m had been completed, with assay results for the third and fourth holes slated for early November.

To get a better handle on the geology, Dalaroo plans to bring a diamond drill rig on site in mid-to-late October, with the potential to deploy additional rigs from late November, if required, to support follow-up drilling and provide further crucial structural information.

The Wilfred, Mag and Ali prospects sit within a seven-kilometre-long target corridor, with the company able to earn up to an 80 per cent interest through a joint venture. The target corridor was originally outlined by a combination of artisanal workings, geological mapping and a soil anomaly that peaked at a stunning 23.26g/t gold.

Dalaroo’s broader Bondoukou project lies in the Birimian greenstone belt, a rapidly emerging gold district in north-eastern Côte d’Ivoire and just 35km from Endeavour Mining’s giant five-million-ounce Tanda-Iguela gold project. The belt also hosts a string of other multi-million-ounce gold deposits, including fellow ASX-listed Aurum Resources’ 3.22-million-ounce Boundiali gold deposit and Resolute Mining’s massive 11.5-million-ounce Syama gold project, making it one of Africa’s most well-endowed gold regions.

While West Africa is the current focus, Dalaroo has kept its other projects on the boil. In Greenland, the company recently completed mapping at its Blue Lagoon project to define the structural controls on rare earths mineralisation. Meanwhile, closer to home at its Watheroo copper-nickel-platinum group elements project in WA, an induced-polarisation survey has firmed up several compelling drill targets.

After hitting high-grade, near-surface gold on the first pass of a maiden drill program, Dalaroo is set to hit the accelerator in West Africa. With the rods about to spin again on a discovery that has already shown serious potential, the market will no doubt be watching to see if this impressive opening shot has an even more lucrative second volley.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au