This is why veteran miner Steve Parsons chose to invest in explorer Alicanto
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Special Report: Veteran miner and major Alicanto Minerals shareholder Steve Parsons shares his excitement about the company’s Swedish exploration push.
Project located in “monster” volcanogenic massive sulphide (VMS) territory — check; drilling a prolific gold producing trend — check; newly appointed CEO with a fresh strategy and focus — check.
These are the key reasons behind veteran miner Steve Parsons’ recent decision to increase his stake in the explorer from 6.27 per cent to almost 8 per cent.
Parsons is best known as the managing director of Bellevue Gold (ASX:BGL), but also sits on the boards of Blackstone Minerals (ASX:BSX) and Africa Gold (ASX:A1G).
With Alicanto now drilling at its Oxberg and Naverberg projects in the famously rich Bergslagen VMS mining district of Southern Sweden, Parsons spoke to Stockhead about his investment in Alicanto and the role he plays in the company.
“Alicanto was a company that I helped list on the stock exchange a number of years ago — I put an investment into it at the very start,” Parsons said.
“Since then I have been following my investment as it explored in Guyana for gold.“More recently in the last 12 months, I have increased my holdings because of the new direction; moving into Sweden for gold, zinc, copper and silver.”
The Swedish projects have real scale to them, said Parsons, which is important to him as an investor.
“When I look at projects or companies to get involved in, my investment criteria is very much to do with ‘does the geology look like it has real scale, to be something substantial?’”
“(Oxberg and Naverberg) certainly have scale and what looks like a big mineralising system.”
Alicanto is testing for extensions to the historic high-grade Skyttgruvan mine at the Naverberg project and will also test the Lustebo and Oxberg targets at the Oxberg project.
The company is also progressing drilling at its Arakaka gold project in Gyuana, which is fully funded by Nord Gold.
Previous exploration has highlighted a 3.2km corridor of stacked mineralised horizons at Arakaka that included significant gold intercepts for follow-up drilling.
Parsons said it was an exciting time for Alicanto with new chief executive officer Peter George at the helm. The focus is two-pronged, he said.
“We have drilling in Sweden that will test a number of targets over the next three months, and then there’s a large 10,000m drill program in Guyana that is currently underway,” he said.
“We will be expecting a lot of news flow on that leading up to the end of the year.”