Sinclair Gold (ASX:SGC) Doubles Mt Henry Gold Resource to 1.8Moz in Six Months

Aditi Sarkar

29 October 2026 05:50 PM AEDT

Sinclair Gold (ASX:SGC) Doubles Mt Henry Gold Resource to 1.8Moz in Six Months

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Highlights

The Mt Henry Gold Project resource doubled to 48Mt at 1.2g/t gold for 1.8Moz.
Measured and Indicated categories hold 1.3Moz, more than 70% of the total.
Post-quarter drilling at Mt Henry returned 5.4m at 15.4g/t gold.
Cash stood at $24.8 million at 30 September 2026.

Sinclair Gold Ltd (ASX:SGC), formerly Alicanto Minerals, has announced that it has doubled the Mineral Resource at its Mt Henry Gold Project to 1.8Moz in about six months since acquiring the project in February 2026. The company also reported drilling results and corporate updates for the quarter ended 30 September 2026.

Mt Henry Resource Doubles

The updated Mineral Resource stands at 48Mt at 1.2g/t gold for 1.8Moz, an increase of 0.9Moz. Measured and Indicated resources account for 1.3Moz, more than 70% of the total, and about 90% of the contained gold lies within 200m of surface.

The Mt Henry deposit holds about 0.9Moz across roughly 2km of strike, while the Selene deposit holds a further 0.9Moz. The estimate included 20,426m of drilling, and 32,578m had been completed by 30 September 2026 against a planned 50,000m program.

Drilling Results and Exploration Potential

Five rigs are drilling at Mt Henry and Selene, and mineralisation at Mt Henry has been intersected more than 480m below surface. Results during the quarter included 18.0m at 1.8g/t gold from 315m at Mt Henry and 41.1m at 1.1g/t gold from 194.9m at Selene.

After the quarter, Mt Henry drilling returned 5.4m at 15.4g/t gold from 192m and 39.6m at 1.4g/t gold from 176m. Both deposits remain open along strike and at depth, and about 30 holes outside the resource boundaries have assays pending. Nearby targets include Artemis, Birthday Gift, Plutus and Apollo, within a 16km mineralised corridor.

Corporate and Financial Update

Cash stood at $24.8 million at 30 September 2026, with a quarterly outflow including $7.4 million of exploration at Mt Henry and one-off transaction costs. Sinclair sold a 1% royalty over Mt Henry to Arc Mineral Royalties for $5.0 million in cash plus shares, and made a $5.0 million milestone payment to Westgold Resources.

The company changed its name to Sinclair Gold Ltd and began trading under the ticker SGC on 16 July 2026. In Sweden, it signed earn-in agreements for its Sala and Falun projects. The next Mineral Resource update is planned before the end of FY27.

Key Takeaways

The Mt Henry resource doubled to 1.8Moz in about six months.
Most of the resource sits in higher-confidence categories and close to surface.
Both Mt Henry and Selene remain open, with multiple nearby targets untested.
Five rigs continue drilling ahead of the next resource update.

FAQs

Q: What was Sinclair Gold previously called?

A: Sinclair Gold was formerly known as Alicanto Minerals Limited.

Q: What is the Mt Henry resource?

A: The Mt Henry Gold Project hosts 48Mt at 1.2g/t gold for 1.8Moz.

Q: How much of the resource is Measured and Indicated?

A: Measured and Indicated resources account for 1.3Moz, more than 70% of the total.

Q: What was the best post-quarter result?

A: Mt Henry drilling returned 5.4m at 15.4g/t gold from 192m.

Q: What was Sinclair's cash position?

A: Sinclair held $24.8 million at 30 September 2026.

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