Alicanto Minerals Hits Big Gold Numbers at Arakaka

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) released a whack of high-grade gold results from a diamond drilling program recently completed at the company’s 100 per cent-owned Arakaka gold project in northwest Guyana, South America.

Alicanto Minerals drilled 51 diamond holes over 1.4 kilometres of strike around the Purple Heart prospect area along the Arakaka Main Trend.

The drilling was fully funded through Alicanto’s Joint Venture with Nord Gold SE.

From the assay results the company has received to date, highlights include:

19.05 metres at 7.43 grams per tonne gold from 260.75m, including 0.5m at202.4g/t gold from 263.8m;

6m at 11.15g/t gold from 69m, including 0.5m at111.89g/t gold from 71.5m;

0.54m at 160.13g/t gold from 239.8m;

6.5m at 5.44g/t gold from 142.2m, including 0.6m at47.44g/t gold from 143.5m;

2.9m at 3.36g/t gold from 89m;

5.85m at 1.98g/t gold from 190.33m;

0.55m at 21.44g/t gold from 93.45m;

3.5m at 2.39g/t gold from surface;

0.75m at 10.17g/t gold from surface;

4.6m at 2.32g/t gold from 163.4m; and

5.45m at 2.71g/t gold from 54m.

Alicanto explained the drilling also identified a previously unrecognised high-grade shoot component to mineralisation associated with the Purple Heart and Central structures.

The recently returned assays indicate the dimensions of these high-grade shoots to be of enough scale to lead to the potential development of substantial gold resources.

“Our drilling at Arakaka in Guyana represents the first time there has been targeted diamond drilling on the prolific gold-producing Arakaka Main Trend,” Alicanto Minerals CEO Peter George said in the company’s announcement to the Australian Securities Exchange.

“Alicanto has completed an initial 10,478 metres of diamond drilling over only 1.4 kilometres of the main trend fully funded through the Earn-In-Agreement with Nordgold.

“These initial encouraging high-grade results not only demonstrate the continuity of mineralisation throughout the area but also indicate that multiple high-grade gold shoots exist within the shallowly dipping, stacked mineralised structures.

“These high-grade shoots have an apparent, shallow, north plunge which will be the focus of further drilling following the geological integration of the current drilling.

“I am very pleased for the team to have discovered what we always firmly believed was in the ground at Guyana.

“This success, combined with intersecting high-grade massive sulphides in our maiden drilling program in Sweden, caps off a fantastic year for the Alicanto team and I am looking forward to what we will achieve in 2020.”

Alicanto said it anticipates further assays of the recently completed diamond drilling program in the coming weeks, after which it will complete a 3D interpretation of the geology and setting of observed, significant, high-grade gold mineralisation to better plan Phase 2 diamond drilling.