- Alicanto Minerals (AQI) has revealed a maiden JORC 2012 inferred resource for its Arakaka Gold Project in Northwest Guyana, South America
- The resource reads 500,000 ounces at 1.8g/t gold and was defined from a review of previous exploration at the Purple Heart and Gnomes deposits
- Additionally, it runs to a depth of 150 metres and mineralisation remains open along strike and at depth
- There are multiple underexplored regional targets in the area that have substantial potential and warrant future drilling
- Alicanto is also focusing on core targets within the Greater Falun Project in Sweden
- Shares in Alicanto are up 7.14 per cent on the market and are trading for 15 cents each
Alicanto Minerals (AQI) has revealed a maiden JORC 2012 inferred resource for its Arakaka Gold Project in Northwest Guyana, South America.
The resource reads 500,000 ounces at 1.8g/t gold and was defined from a review of previous exploration at the Purple Heart and Gnomes deposits.
Additionally, it runs to a depth of 150 metres and mineralisation remains open along strike and at depth.
“This resource is shallow, the mineralisation remains open in all directions and we already have numerous intersections outside the resource which will form part of the next estimate,” Managing Director Peter George said.
“We also have multiple walk-up targets with multi-million ounce bulk tonnage potential that remain to be drilled,” he added.
Purple Heart
At the Purple Heart Deposit a north-plunging high-grade gold shoot was identified within the mineralised structures.
Three shallow sub-parallel, low dipping mineralised gold zones were identified, spanning a length across 1.4 kilometres of strike.
Mineralisation dips 30 degrees to the northwest and reaches a length of up to 150 metres.
Furthermore, historical work at Purple Heart returned a peak result of 5.1 metres at 3.97g/t gold from 71 metres.
Gnomes
Drilling at the Gnomes Deposit identified stacked mineralised lodes spanning widths over 630 metres.
Only 500 metres of strike has been tested with significant results including two metres at 11.8g/t gold from 85.15 metres, and 11 metres at 3.43g/t gold from 62 metres.
Additionally, there are multiple underexplored targets with substantial potential in the area which include the Eyelash Area, the Xenopsaris Area, and the 14-Mile Area.
These areas have respectively returned up to 86.4g/t gold, 16.4g/t gold, and 21.1g/t gold.
Alicanto is also focusing on core targets within the Greater Falun Project in Sweden.
Shares in Alicanto are up 7.14 per cent on the market and are trading for 15 cents each at 5:08 pm AEDT.