Barrick Arakaka contract extended

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.