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Alicanto Minerals Extends Mineralization at Western Australia Deposits; Shares Down 10%

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Alicanto Minerals (ASX:AQI) extended known mineralization at the Mt Henry and Selene deposits within the Mt Henry project in Western Australia following the receipt of assays from its first drilling program, according to a Monday filing with the Australian bourse.

Drilling found sulfide-bearing banded-iron formation mineralization beyond the current resource footprint, with most intersections returning grades above the current resource grade, the filing said.

Drilling continues with two rigs currently in operation, and two additional rigs set to start later this month, per the filing.

Shares fell 10% in midday trade Monday.

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