Alicanto Secures Mt Henry Gold Project, Eyes Major Resource Expansion
Alicanto Minerals has completed its acquisition of the Mt Henry Gold Project in Western Australia, setting the stage for an ambitious 50,000-metre drilling campaign aimed at expanding the existing 915,000-ounce gold resource.
- Acquisition of Mt Henry Gold Project finalized after all approvals
- Current resource stands at 915,000 ounces of gold
- Upcoming 50,000m drilling program planned along 16km mineralised corridor
- Westgold Resources takes a 19.9% stake in Alicanto
- Project remains under-explored below 100 metres depth
A Significant Acquisition for Alicanto
Alicanto Minerals Limited (ASX – AQI) has officially completed the acquisition of the Mt Henry Gold Project, a substantial gold asset located in Western Australia. This milestone follows the fulfilment of all necessary conditions, including shareholder approval, ministerial consent, and agreements with the Ngadju Native Title Aboriginal Corporation. The acquisition marks a pivotal moment for Alicanto as it expands its footprint in the gold exploration sector.
Resource Potential and Exploration Plans
The Mt Henry Project currently hosts a mineral resource of approximately 915,000 ounces of gold, spread across a 16-kilometre mineralised corridor. Notably, the deposit remains largely under-explored below 100 metres, presenting significant upside potential. Alicanto is gearing up for a comprehensive 50,000-metre drilling program designed to test and potentially grow this resource base. The scale of this drilling campaign underscores the company's confidence in the project's capacity to deliver further discoveries.
Strategic Partnership with Westgold Resources
Adding further weight to the acquisition's strategic value, Westgold Resources Limited has acquired a 19.9% shareholding in Alicanto. This partnership aligns the interests of both companies as they move towards advancing the Mt Henry Project. Westgold's involvement brings additional expertise and financial backing, which could prove instrumental in accelerating exploration and development activities.
Community and Regulatory Engagement
Alicanto has emphasised its commitment to fostering respectful and long-term relationships with the Ngadju Traditional Owners, local communities, and regulatory bodies. The project benefits from granted mining leases and proximity to established infrastructure, including sealed-road access near the Coolgardie–Esperance Highway. Such factors are likely to facilitate smoother project execution and community support.
Looking Ahead
With the acquisition complete and exploration plans underway, Alicanto is poised to unlock further value from Mt Henry. The upcoming drilling program will be closely watched by investors eager to see how the resource evolves. While the project holds promise, the company acknowledges the inherent uncertainties in exploration and the need for ongoing stakeholder engagement.
Bottom Line?
Alicanto’s bold move into Mt Henry sets the stage for a transformative drilling campaign that could redefine its growth trajectory.
Questions in the middle?
- How will the 50,000m drilling program impact the current resource estimate?
- What are the financial terms and implications of Westgold’s 19.9% shareholding?
- How will Alicanto manage community and regulatory expectations during project development?
