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Alicanto Minerals Ltd.
Summary
| Project: | Arakaka | |
|---|---|---|
| Deposit: | Arakaka Main Trend | |
| Location: | Guyana | |
| Commodities: | Gold | |
| Date: | 3/1/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-3-2018: Alicanto Minerals Ltd. announces an Exploration/Drilling Update report for its Arakaka Main Trend deposit at the Arakaka project. Drilling results incl. 18m @ 1.63g/t Au from 3m. Alicanto Minerals Ltd (ASX: AQI) (“Alicanto” or “the Company”) is | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Marcus Harden (Internal) | |
| ABSTRACT: | Alicanto Minerals Ltd (ASX: AQI) (“Alicanto” or “the Company”) is pleased to report assay results received from the initial prospect scale drilling program on the Arakaka Main Trend. In addition, an extensive trenching program is on-going targeting the Xenopsaris Trend, a 15km long corridor of >100ppb gold anomalism within the 300km2 Arakaka Gold Project. A successful 2016-17 reconnaissance drilling programmes on the Arakaka Main Trend defined a highly prospective structural corridor and, generated numerous prospects over a 25km long, large scale, mineralised system. Follow-up drilling that tested the top tier prospects identified as having resource potential was completed in the December quarter, 2017. The targeted drilling on the Arakaka Main Trend was funded by Barrick Gold Corp. (“Barrick”) as part of their US$10m funding requirement to earn-in to 65% of the Arakaka Gold Project (Refer to ASX announcement dated 11 December 2017). Alicanto’s Arakaka gold project is located in Guyana’s under-explored Northwest Mining District, host to the Barama-Mazaruni supergroup, within one of the last and among the least explored greenstone belts across the Guiana and West African Shields that is not yet host to substantial gold resources. The Arakaka Gold Project comprises over 300km2 of permits that are 100% held either directly by Alicanto’s wholly owned Guyanese subsidiary, or subject to various underlying option agreements and the Barrick Earn-in Agreement announced by the Company 1 March 2016. Drilling completed in December 2017 was the first phase of targeted prospect scale drilling following 1km spaced reconnaissance drilling within the 12km long and up to 2.5km wide anomalous gold corridor of the Arakaka Main Trend. (Refer to ASX Release dated 4 October 2016). | |
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