Alicanto Minerals (ASX: AQI) is now firmly focused on gold exploration in Guyana, South America, with the company set to exit its Australian joint ventures.
The company has advised its partners, Maka Minerals Pty Ltd and MPF Exploration Pty Ltd, of its intention to withdraw from the Meekatharra, Yerilla and Doolgunna joint ventures.
Alicanto is currently completing a $1.3 million capital raising, with the funds to be allocated to the Arakaka gold project in the highly prospective and under-explored Northern Guyana Shield in Guyana.
New exploration activities will include a maiden drilling program.
Arakaka covers over 300 square kilometres, with Alicanto only recently acquiring the project, which is brownfields and surrounded by multi-million ounce gold mines.
Guyana is a supportive of mining, with gold the country's largest export.
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