Arakaka Gold Project

Alicanto Projects Location Map

The Arakaka Gold Project comprises more than 300km2 of permits that are 100% held either directly by Alicanto’s wholly-owned Guyanese subsidiary, or subject to various underlying option agreements with Guyanese operators.

Alicanto’s Arakaka gold project is located in Guyana’s under-explored Northwest Mining District, host to the Barama-Mazaruni supergroup, within one of the last and among the least explored greenstone belts across the Guiana and West African Shields that is not yet host to substantial gold resources.

The Arakaka Gold Project is a regional scale project and is host to a number of target areas warranting further exploration activity for shallow, bulk tonnage, open pit gold targets. 

The Company is currently focused on four well defined target areas with near to medium term resource potential.  The overall property positions is host to a substantial exploration pipeline, with numerous prospects at various stages of the exploration process, with varied exploration techniques being applied based on the regolith and landform setting of each area to apply the most cost effective methods to identify the most prospective prospects and progress them towards discovery and maiden resource estimation for the project.

Xenopsaris Target Area

Alicanto completed 1,802 metres of reconnaissance diamond drilling in 13 holes at the Xenopsaris project area in 2018.

The area targeted by recent drilling comprises 1.2km strike length within a >17.5km long gold anomaly defined by >100ppb Au in soils. The targeted mineralised corridor is associated with the northwest trending Gomes-Ianna structural corridor, aligning with mineralisation drilled approximately 25km to the southeast of the Arakaka Gold Project in the Company’s 100% held Ianna Gold Project. Better assay results include:

  • 6m @ 1.53g/t gold from 30m - XDD013
  • 3m @ 1.15g/t gold from 9.7m - XDD023

Xenopsaris Target area and Gomes Prospect located on the Gomes-Ianna structural corridor with drill collar and trench locations on interpretive regional scale geology interpretation.

The drilling targeted the fold closure of a high-strain, regional scale antiformal fold hinge (Refer to Figure 2). This structural setting is similar to those observed at other regionally significant gold deposits within the Guiana Shield, including the 13.7 Moz Au Gros Rosebel deposit (IAMGOLD) and 6 Moz Au Meriam deposit (Newmont) in neighbouring Suriname.The results are located 200m away to the SE of significant surface trench results including 22m @ 2.02g/t gold. Significant results from a 9 hole 1,218m reconnaissance drilling included (refer to ASX release dated 4 August 2017):
  • 1.4m @ 9.14g/t gold from 23m - XDD005
  • 1m @ 4.25g/t gold from 30m and 2.25m @ 3.73g/t gold from 124m
  • 3m @ 2.19g/t gold from 40m

The previous reconnaissance drilling also successfully identified a regional scale alteration system around mineralisation with a wide zone of sericite-ankerite-pyrite alteration proximal to mineralised intercepts.

 

Gomes Prospect 

Trenching at Xenopsaris extended up towards the Gomes Prospect includes trenching up to 1.1km to the southeast of the Gomes prospect (refer to Figure 3). Two trenches have intersected significant gold mineralisation along strike from the Gomes Prospect, where extensions to mineralisation south of Gomes have been constrained by the lack of surface geochemical anomalism. Results of 2018 trenching (refer to ASX release 19 June 2018) included:

  • 6m @ 2g/t gold within 33m @ 0.5g/t gold and;
  • 6m @ 1.2g/t gold at the end of the trench – XETR031
  • 15m @ 0.5g/t gold – XETR030

Importantly, the results of both trenches are limited by a layer of colluvium shedding off the hill to the SW that obscures surface geochemical responses. Therefore, any further bodes of significant mineralisation are likely to be obscured in the area. Mineralisation at Gomes and along the Xenopsaris area is associated with rheological contrasts in the vicinity of the Temberlin Structure, so mapping of the structure and lithology through trenching and drilling will be important factors in the growth of the Gomes prospect resource potential.

Further trenching is currently being planned to close down the spacing of trenches were possible in context of landform and regolith setting in the local area and refine drill targeting to identify extensions to the known mineralisation.

Arakaka Main Trend

1,265m of diamond drilling for nine holes was completed in the Purple Heart to Concorde Prospects, closing down drill spacing on the prospective Purple Heart Structure to approximately 750m x 200m spacing over >1.4km of strike length within the 3.2km long mineralised corridor (refer to Figure 4  below).

Assays reported (refer to ASX release dated 19 June 2018) from ARDD278 are from the Purple Heart Area, 750m northeast along strike from 13.5m @ 7.36g/t gold in historical drilling with no drilling targeting the structure between the two holes. Current assays include results of up to 11.95m @ 1.2g/t gold. Mineralisation remains open to the NE along strike for >1km.

Mineralisation appears to be shallowly dipping (20o) to the NW and consists of three to four sub-parallel mineralised bodies forming in and around areas of high strain at the margins of Quartz-Feldspar Porphyry bodies hosted in metasediments. The lowermost mineralised body has been intersected in drilling 400m to the southeast of ARDD278 with historical results on section (refer to ASX release dated 26 August 2015) including: 48m @ 1.8g/t gold and 20.5m @ 1.4g/t gold.

About 1.3km northeast of the ARDD278 drill area is the Concorde Prospect located at the same structural horizon and is centred on the Purple Heart Structure. These reported results, in combination with Concorde and Purple Heart prospect results extends the known prospective strike length of the Purple Heart Structure to more than 3.2km. 2016-17 reconnaissance drilling on 300m spaced section lines at Concorde (Refer to ASX releases dated 4 October 2016 and 1 March 2018) intersected:

18m @ 1.63g/t gold from 3m in ARDD267 including 9.35m @ 2.71g/t gold

  • 9.72m @ 1.44g/t gold from 159m
  • 5.1m @ 3.97g/t gold from 71m in ARDD015
  • 2.1m @ 1.48g/t gold from 50.1m in ARDD257 with visible gold
  • 1.7m @ 1.7g/t gold from 77.5m in ARDD256 with visible gold
  • 7m @ 0.55g/t gold from 116m in ARDD254

 

Work is now focused on integrating datasets ahead of a target ranking exercise and future drilling targeting high grade shoots within the identified >3.2km of mineralised structure between drill holes spaced 300m to 750m apart.

Location of recent drilling in the Arakaka Main Trend.

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