Alicanto commences 12,000 metres of diamond drilling
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Shares in Alicanto Minerals Ltd (ASX:AQI) spiked 8% on Monday after management announced the commencement of a large diamond drilling programme at the company’s 100% owned Arakaka Gold Project in North-West Guyana.
The drilling campaign is fully-funded under the Earn-In Agreement with Nord Gold SE as outlined by Finfeed in June.
Nordgold has an outstanding track record in discovering and developing large-scale gold deposits in a number of regions, including South America.
The group has 10 producing mines in Burkina Faso, Guinea, Russia and Kazakhstan.
The upcoming drilling program will include 12,000 metres of diamond drilling focused on the underexplored and highly prospective Arakaka Main Trend.
Diamond drilling is an expensive exercise and one would expect that Nord Gold sees the prospects of success as being relatively high to undertake such a campaign.
High grades already delineated
This wouldn’t have been a hard sell though on Alicanto’s part with outstanding previous intercepts from reconnaissance drilling including 13.5 metres at 7.4 g/t gold, 1.9 metres at 30.6 g/t gold and 48 metres at 1.8g/t gold.
Importantly, the thickest intercept was from surface and the other two were from relatively shallow depths of about 90 metres.
Consequently, there appears to be a reasonable likelihood of promising near-term news flow, potentially providing further share price momentum.
Commenting on the upcoming campaign and highlighting the broader geological features that are being targeted, Alicanto’s chief executive Peter George said, “The drilling at Arakaka Guyana represents the first time there has been targeted diamond drilling on the prolific gold producing Arakaka Main Trend.
‘’Previous reconnaissance drilling has highlighted a 3.2 kilometre corridor of stacked mineralised horizons with good geological continuity and significant gold intercepts for follow-up infill.’’
The corridor George refers to, along with early stage drilling results can be seen in the following graphic.
General Information Only
This material has been prepared by StocksDigital. StocksDigital is an authorised representative (CAR 000433913) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573).
This material is general advice only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with personal financial or tax advice and does not take into account your personal objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, StocksDigital, any of their related body corporates or any other person. To the maximum extent possible, 62C, StocksDigital, their related body corporates or any other person do not accept any liability for any statement in this material.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
