Published: March 4, 2016 |

[Click image to enlarge]

[Click image to enlarge]

Alicanto Minerals has clinched $16 billion-capped Barrick Gold Corporation as project partner to fund exploration of US$1.8 million in 2016 at the highly rated Arakaka Gold Project in Guyana.

Barrick is not known to participate in gold projects under its investment criteria unless the size and scale of resource ounces is in the multi-millions.

The Guiana Shield is one such “play” as it hosts numerous world class and monster +3 million ounce gold deposits with discoveries to date of over 100 million ounces.

However, it is the geological continuity between the Guiana Shield and Birimian Shield of West Africa that provides not only intrigue but the Shield is significantly underexplored relative to West Africa.

This would excite most companies and a coup for Alicanto and exploration upside at its Arakaka Gold Project.

The majority of the known gold deposits are located within a portion of the Shield that reside in greenstone belts within 200 kilometers off the coast.

Under the farm-in deal struck with Barrick, the gold major will spend US$8.0 million in exploration expenditure over four years and pay US$2 million in cash to Alicanto at completion of earn-in expenditure to earn a 65 percent stake in Arakaka.

Alicanto will remain operator during the first two years overseeing anticipated exploration expenditure of up to US$4 million.

Meanwhile, the cash balance will be topped up with a proposed investment in the Arakaka Gold project by an unrelated party.

Alicanto has initially received a refundable US$175,000 from an unrelated third party and received a further payment of US$75,000 that is non-refundable.

The Arakaka project pluses roll off the tongue. A 12 kilometer strike along a major mineralized structural corridor with less than 5 percent of the ground of the Arakaka trend drill tested. Providing a pathway to multiple untested, high priority targets for Alicanto.

In a belt of monster gold deposits the greenstone rocks of the Barama-Mazaruni and the Barrick JV sets a course for Alicanto that is highly prospective for large tonnage, gold deposits.

Source: (March 1, 2016) Proactive Investors

About Alicanto Minerals
Alicanto Minerals (ASX:AQI) is an exploration company with a primary focus on gold and base metals.

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