The Mount Henry Gold Project

The Mount Henry Gold Project

The Mt Henry Gold Project is positioned within the broader Wiluna–Norseman belt, one of Australia’s largest and longest-lived gold systems. The belt hosts more than 230 million ounces of known endowment across over 700km of strike, reflecting more than a century of continuous discovery and production. This places Mt Henry squarely within one of the most productive structural corridors in the Eastern Goldfields. 

The Mt Henry Gold Project sits within the heart of this highly endowed trend, giving Alicanto exposure to a proven gold-bearing system and a strong regional backdrop for resource growth and future exploration success. 

Gold mineralisation at the Mt Henry Gold Project tracks a 16km Banded Iron Formation (“BIF”) horizon which has been first pass drill tested to shallow depths (typically less than 50m vertical) during the late 1990s. Gold mineralisation is pervasive along this horizon with three main deposit areas subsequently drilled out at Mt Henry, Selene and North Scotia to depths of 150m, 130m and 90m respectively. All three main deposit areas remain completely open down dip.

The Mt Henry Deposit is a broad, consistently mineralised, structurally controlled gold system extending for ~2.0km and typically 6 to 10 metres in true width. Mineralisation is predominantly hosted within shear-related banded iron formation (BIF) and remains open along strike and down dip. 

Numerous significant unmined drill intersections are located below and along strike of the Mt Henry pit, including:  

  • 6.0m @ 609.9g/t gold from 78m; 
  • 18.0m @ 16.4g/t gold from 14m; 
  • 64.0m @ 3.9g/t gold from 65m; 
  • 20m @ 3.8g/t gold from 98m; 
  • 19m @ 9.0g/t gold from 29m; 
  • 45m @ 2.1g/t gold from 34m; and  
  • 57m @ 1.6g/t gold from surface. 

The second main current Resource area is the Selene Deposit; a large, laterally extensive, near-surface gold system and represents the most significant open-pit growth opportunity within the Mt Henry Gold Project. Also hosted in a BIF, the Selene Deposit extends for ~1.3km along strike and to ~130m depth, with mineralised zones locally thickening to 35 to 40 metres. 

Historical drilling at Selene has demonstrated strong widths and grades across multiple areas, including unmined intervals confirming the consistency, thickness and scale of the mineralisation of:  

  • 44.0m @ 2.4g/t gold from 37m; 
  • 60.0m @ 1.7g/t gold from 100m; 
  • 52.0m @ 2.0g/t gold from 49m; 
  • 63.5m @ 1.5g/t gold from 99.1m; 
  • 48.0m @ 1.9g/t gold from 96m; 
  • 50.0m @ 1.8g/t gold from 72m; 
  • 47.0m @ 1.8g/t gold from 88m; 
  • 61.0m @ 1.4g/t gold from 61m; 
  • 8.0m @ 10.0g/t gold from 45m; and  
  • 40.0m @ 2.0g/t gold from 33m.  

Selene remains OPEN along strike and down dip, providing a clear pathway to grow the Mineral Resource and advance open-pit development studies in parallel. 

The third component of the current MRE is the North Scotia Deposit which represents a different style of gold mineralisation to Mt Henry and Selene, with mineralisation outside the main BIF horizon. Drilling has confirmed the presence of high-grade shoots consistent with WA vein and shear-hosted systems, including intersections of:  

  • 18.0m @ 9.8g/t from 1m; 
  • 7.0m @ 22.2g/t from 86m;
  • 4.0m @ 25.4g/t from 49m; 
  • 3.0m @ 32.8g/t from 72m; 
  • 14.0m @ 5.7g/t gold from 63m; 
  • 11.0m @ 6.0g/t gold from 25m; 
  • 7.0m @ 9.1g/t gold from 61m; 
  • 16.3m @ 3.8g/t from 19m; 
  • 8.5m @ 7.2g/t gold from 72.5m; and  
  • 7.0m @ 7.9g/t gold from 6m.  

With limited drilling along key structures, North Scotia offers strong potential for high-grade extensions both down plunge and along strike. Current drilling at the deposit is all less than 90m from surface. 

Numerous walk-up drill targets also exist between the historic shallow drilling where significant gold mineralisation was encountered and has yet to be followed up. Drill results from the 16km BIF horizon for follow up include results such as:  

  • 10m @ 88.2g/t gold from 5m;  
  • 13m @ 13.3g/t gold from 5m;  
  • 2m @ 46.3g/t gold from 6m;  
  • 12m @ 6.1g/t gold from 17m; and  
  • 4m @ 14.8g/t gold from 38m.  

These results point to the significant opportunity to grow the Resources through regional discovery 

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