Alicanto Minerals Reports Maiden Arakaka Gold Resource

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) released a maiden JORC 2012-compliant Inferred Resource for the company’s 100 per cent-owned Arakaka gold project in Northwest Guyana, South America.

Alicanto Minerals’ declared the Inferred Resource of 500,000 ounces at 1.8 grams per tonne gold based on a review of data at Arakaka collected by Alicanto in conjunction with that provided by Barrick Gold Corp. (ASX 19 June 2018) and NordGold, (ASX 12 May 2020).

The Resource was calculated by Perth-based Cube Consulting.

The Mineral Resource Estimate (MRE) for the Arakaka gold project is taken from two separate domains, the Purple Heart and Gomes deposits located approximately six kilometres from one another.

The Purple Heart resource lies within a stacked thrust system developed to the margin of multiple porphyry intrusions of variable composition hosted within metavolcanics and metasediments where mineralisation has been observed to extend to approximately 150 metres vertical depth.

At Gomes the current resource is located within approximately 500m of strike along a West South West dipping regional scale shear, the Temberlin shear zone where mineralisation has been observed to extend approximately 100m vertical 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,” Alicanto Minerals managing director Peter George said in the company’s ASX announcement.

“We also have multiple walk-up targets with multi-million-ounce bulk tonnage potential that remain to be drilled.”