Alicanto Minerals (ASX:AQI) is preparing to test the upside of its newly acquired Mt Henry gold project with a maiden drilling campaign in Western Australia’s Eastern Goldfields, days after completing the acquisition.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
DDH1 Drilling has been contracted to undertake the 50,000m drilling program as a part of a multi-rig campaign designed to extend known mineralisation.
CEO Jeff Sansom said while the acquisition was only completed last week, the company has been preparing for this program since late 2025. He also declared that the company is very keen to test Mt Henry’s depth potential, where most of the existing resources are sitting within 150 metres of surface.
Alicanto is targeting growth along strike and at depth across the 16-kilometre corridor that hosts the current 0.9 million ounce Mt Henry mineral resource.
“The opportunity for substantial growth at Mt Henry is clear, and we are moving decisively to unlock it,” Mr Sansom said. “Initial drilling will focus on priority areas within the existing resource base, targeting extensions to known mineralisation and opportunities to grow and upgrade the current 915,000 ounce resource.”
The upcoming program will grow to include a second diamond rig and a reverse circulation rig, with three rigs to be up and online by Q4 FY26.
“This campaign is designed to demonstrate the scale potential of Mt Henry and generate consistent exploration momentum, highlighting the opportunity for rapid and cost-effective resource growth,” Mr Sansom explained.
The first stage of drilling will focus on step-out, targeting strike and depth extensions at the Selene and Mt Henry deposits. This will be followed by testing broader mineralised envelopes within the 16km corridor.
Mr Sansom told shareholders Mt Henry is a large, under-explored gold system, with limited drilling below 100m and known mineralisation extending beyond the current resources.
The acquisition of the project from WestGold Resources (ASX:WGX) saw that company become a 19.9% shareholder in Alicanto.
AQI is up +3.83%, to $2.17. Mkt cap $338.3M.
Join the discussion: See what HotCopper users are saying about Alicanto Minerals Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.