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Alicanto Minerals Ltd.
Summary
| Project: | Arakaka | |
|---|---|---|
| Deposit: | Arakaka | |
| Location: | Guyana | |
| Commodities: | Gold | |
| Date: | 10/4/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-10-2016: Alicanto Minerals Ltd. announces an Exploration/Drilling Update report for its Arakaka deposit at the Arakaka project. Drilling results incl. 5.1m @ 3.97g/t Au from 71m. Alicanto Minerals Ltd (ASX: AQI) (“Alicanto” or “the Company”) is pleased | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Marcus Harden (Internal) | |
| ABSTRACT: | Alicanto Minerals Ltd (ASX: AQI) (“Alicanto” or “the Company”) is pleased to announce that following the completion of the reconnaissance diamond drill program at Arakaka, the Company has identified three major mineralised structures, which will now be the target of a 3,000m reverse circulation (RC) drill program. The first campaign of reconnaissance drilling for 2016 encountered quartz-sulphide-gold veining within zones of broad disseminated sulphide mineralisation on each of three mineralised structures identified. The diamond drilling completed totals 2,597m in 17 diamond holes on 1km to 1.7km wide-spaced fences of drilling as an initial drill test of a 5km segment within the 12km long Arakaka Main Trend. The Reconnaissance drilling program is focused on understanding the tectono-stratigraphic framework of the Arakaka Main trend and to better constrain mineralising structures within the extensive surface soil geochemistry and geophysical anomalism identified within the Arakaka Main trend. The diamond program has successfully achieved objectives identifying and constraining three mineralised structures on the Arakaka Main Trend with over 5km in extent and 1.5km in width. Drilling has also delivered a number of favourable structural contacts between diorites and metasediments on each of the three mineralised structures with a number of occurrence of visible gold and encouraging first pass results received in the reconnaissance drilling. Widespread carbonate, biotite and sericite alteration also identified in diamond drilling indicates an extensive gold bearing hydrothermal system with the potential to host a large, bulk-tonnage gold deposit. | |
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