What's Happening?
Alicanto Minerals is set to commence its maiden drilling program at the Mt Henry Gold Project located in Western Australia's Eastern Goldfields. The company has contracted DDH1 Drilling to undertake a 50,000-meter drilling campaign aimed at extending
known mineralization along a 16-kilometer corridor. This area currently hosts a 900,000-ounce gold resource, with most of the gold located within 150 meters of the surface. The initial phase will focus on extending resources at the Selene and Mt Henry deposits, with plans to test broader mineralized zones. Alicanto's CEO, Jeff Sansom, emphasized the project's potential for rapid and cost-effective resource growth.
Why It's Important?
The initiation of drilling at the Mt Henry Gold Project represents a significant step for Alicanto Minerals in expanding its resource base. This project could potentially increase the company's gold reserves, enhancing its market position and financial prospects. The focus on extending known mineralization and exploring new zones could lead to substantial resource upgrades, attracting further investment and interest in the region. The success of this drilling campaign could also have broader economic implications, contributing to the local economy through job creation and increased activity in the mining sector.
What's Next?
As Alicanto Minerals prepares to mobilize its first diamond rig, the company plans to scale up its operations with additional rigs to intensify drilling efforts. The campaign aims to demonstrate the scale potential of the Mt Henry project and maintain exploration momentum. The company recently completed the acquisition of the project for $110 million, indicating a strong commitment to its development. Future steps will likely involve detailed analysis of drilling results, potential resource upgrades, and strategic planning for further exploration and development activities.
