Alicanto Minerals (ASX: AQI) has announced a maiden JORC 2012-compliant Inferred Resource of 500,000oz at 1.8 g/t gold at its Arakaka Gold Project in Northwest Guyana, South America.
The Resource estimate stems from a review of the data at Arakaka collected by Alicanto in conjunction with that provided by Barrick Gold Corp. and NordGold, and has been calculated by Perth-based Cube Consulting.
Arakaka is located in a world-class gold mining province which also hosts projects such as Las Christinas/Las Brisas (27Moz), Aurora (6.5Moz) and Gros Rosebel (13.7Moz) – (SGA Field Guide – Bardoux et al 2018).
The Maiden Mineral Resource Estimate (MRE) for the Arakaka Gold Project is taken from two separate domains, the Purple Heart and Gomes deposits located approximately 6km from one another.
Alicanto Managing Director Peter George said the strong maiden Resource was just the start of what he believed would be a rapidly growing inventory at Arakaka.
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,” Mr George said.
“We also have multiple walk-up targets with multi-million ounce bulk tonnage potential that remain to be drilled.”
Notably, Mr George said the Resource mineralisation remains open in all directions.
At the Purple Heart area, shallowly north plunging high-grade gold shoot component identified within the low angle dipping, stacked mineralised structures. Three shallow stacked, sub-parallel, low dipping mineralised gold zones across 1.4km of strike defined through 100m x 100m spaced reconnaissance drilling.
Drilling outside of the resource area is on a nominal 500m x 100m spacing and traces the mineralised structures for a further 1.6km to the ENE with wide spaced results including: 18m @ 1.63g/t gold from 3m, including 9.35m @ 2.71g/t gold in ARDD267; 9.72m @ 1.44g/t gold from 159m; and5.1m @ 3.97g/t gold from 71m.
At Gomes drilling has identified numerous stacked mineralised lodes over 630m width across the Gomes Hill structural corridor, with only 500m strike extent tested. Significant drill intercepts outside of resources include: 16.4m @ 3.2g/t gold from 25.6m; 19m @ 2.76g/t gold from 59.6m; 11.0m @ 3.43g/t gold from 62m and 11m @ 2.7g/t gold from 138m; and 2m @ 11.8g/t gold from 85.15m.
Mr George said multiple, under-explored, walk-up targets outside of the known resource areas include the Xenopsaris Trend and the Eyelash Target Area.