Alicanto builds evidence for large-scale copper-gold system at Wolf Mountain
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Special Report: Alicanto’s maiden multi-hole drilling program in Sweden is off to a strong start with the first two holes intersecting the outer margins of a large-scale copper-gold system.
The first hole intersected more than 60m of strong alteration and disseminated sulphides, including chalcopyrite and pyrite, and ended in mineralisation, while the second hit a 24m wide zone that includes a 4m interval of intense, visible, chalcopyrite mineralisation.
Chalcopyrite and pyrite are minerals commonly associated with copper and gold deposits.
Alicanto Minerals (ASX:AQI) says the two holes are interpreted to have intersected the outer margins of a large-scale copper-gold system within the Wolf Mountain area.
“Last year, initial geophysical induced polarisation surveying (IP) at the Wolf Mountain prospect identified multiple, large-scale anomalies that have never been drill tested,” chief executive officer Peter George said.
“Previously mapped, mineralised trends with coincident high-grade rock-chips of up to 11.9 per cent copper at surface were highlighted by the survey, but excitingly, further large-scale targets were also identified under thin glacial cover.
“This drilling represents the first of these exciting new targets to be tested.”
George added that the rig had now mobilised to extend the first hole that finished in mineralisation before resuming the rest of the drill program to test the multiple IP anomalies at Wolf Mountain.
The company also plans to start maiden diamond drilling over the Oxberg and Naverberg target areas in the coming months.
With over 45km of mostly untested limestone ore horizon and a large structurally hosted corridor that had never been drilled, Alicanto is chasing up a potentially massive play.
As proven by giant porphyry deposits, large finds could be company-makers that generate copper and gold for several generations.
>> Now watch: 90 Seconds With… Peter George, Alicanto Minerals