Bar­rick Arakaka con­tract ex­tended

The Australian Mining Review - - NEWS -

BAR­RICK Gold will con­tinue to fund ex­plo­ration work at ASX-listed Ali­canto Min­er­als’ Arakaka gold project through 2018.

The gold miner en­tered its third year of an Earn-in Agree­ment, which would en­able it to earn up to a 65 per cent in­ter­est in the project by meet­ing $US10 mil­lion fund­ing re­quire­ments within four years.

2018 ex­plo­ration ac­tiv­ity in­cluded 3500m of di­a­mond core drilling on the Xenop­saris tar­get area, to fol­low-up on 2017 ex­plo­ration suc­cess.

“We are very pleased to see Bar­rick’s in­creas­ing con­fi­dence in both the Guiana Shield, and the dis­cov­ery po­ten­tial in Guyana’s North­west Min­ing Dis­trict,” Ali­canto Min­er­als man­ag­ing di­rec­tor Travis Sch­w­ert­feger said.

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