Skylark Minerals Limited (ASX:SKM) has executed binding agreements with Ivoire Geo Resources SARL to earn interests of up to 97% in each of the Amie and Yaou Gold Projects in south-eastern Côte d'Ivoire, expanding its exploration portfolio around the flagship 1.2 million ounce Zaranou Gold Project.

Key Points

  • Binding earn-in agreements signed for the Amie and Yaou Gold Projects in south-eastern Côte d'Ivoire, each covering a staged pathway to 97% ownership with no royalties.
  • Amie hosts a 3km-long historical gold-geochemical anomaly coincident with a mapped structural contact, with approximately 80% of the application area yet to undergo systematic geochemical exploration.
  • Yaou is situated on the Ahafo-Bibiani-Chirano belt, a regional gold-bearing structural corridor extending north-east into Ghana.
  • Exploration permit applications cover approximately 103km² at Yaou and 140km² at Amie.
  • Initial 51% interest requires Skylark to sole fund US$2.0 million in exploration expenditure within four years of the relevant permit grant, per project.

Acquisition Structure and Financial Terms

Under the agreements, Skylark will acquire an initial 51% interest in each project by sole-funding US$2.0 million in exploration expenditure within four years of the relevant permit grant. The company may then earn an additional 29% interest, reaching 80%, through completion of a Pre-feasibility Study within seven years of permit grant. A further 10% interest, reaching 90%, is available for US$2.0 million, with a final 97% interest attained upon a decision to mine, with Ivoire Geo Resources retaining a 3% free-carried interest. Additional consideration per project includes US$25,000 upon execution, US$25,000 upon permit grant, US$25,000 twelve months after permit grant, and US$100,000 four years after permit grant. Milestone payments of US$1.0 million and US$2.0 million apply upon declaration of JORC-compliant resources exceeding one million and two million ounces respectively.

Amie Project Historical Exploration Results

The Amie Gold Project is located north of Skylark's Zaranou Project within the same broad regional gold exploration province. Historical exploration by IronRidge Resources covered approximately 20% of the application area and identified a coherent gold anomalism corridor extending approximately 3km along a mapped geological contact, interpreted to be approximately 300 metres wide. Four historic aircore drilling traverses returned significant intercepts greater than 0.2 g/t Au, including 2 metres at 9.01 g/t Au from 32 metres in BDAC0031, 2 metres at 2.74 g/t Au from 14 metres in BDAC0064, and 2 metres at 2.35 g/t Au from 6 metres in BDAC0082. Skylark intends to review and validate historical data before undertaking targeted geological mapping and surface geochemical sampling.

Yaou Project Geological Setting and Initial Programme

The Yaou Gold Project is situated in south-eastern Côte d'Ivoire on the interpreted continuation of a major gold-bearing structural trend associated with the Sefwi greenstone belt, which hosts gold deposits in Ghana including Ahafo, Chirano and Bibiani. Skylark's 2026 technical due diligence identified the presence of quartz float, though the filing states there has been limited historical exploration across the application area. The initial exploration programme, subject to relevant approvals and access arrangements, will focus on geological mapping, geochemical sampling and geophysical interpretation to identify prospective structures and generate targets for follow-up investigation. The exploration permit applications for both projects are to be converted into exploration licences.