Alicanto drilling to target extensions to known copper-gold mineralisation
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Special Report: Alicanto is set to spice things up in Sweden’s mineral-rich Bergslagen district with initial drilling at its Greater Falun copper-gold project.
The 4,000m diamond drilling program in September will target extensions to known high-grade mineralisation in several areas, all of which are located within a 15km radius
Alicanto Minerals (ASX:AQI), which recently shuffled its board, said that prior to its arrival, no concerted exploration campaign had been undertaken at the Greater Falun project, with previous exploration carried out in the belief that it hosted a volcanogenic massive sulphide (VMS) system.
However, the company’s extensive review since acquiring Greater Falun in early 2020 has corrected this belief, with its conclusion that the dominant mineralisation is copper-gold skarn with high-grade by-products of silver, zinc and lead.
New managing director Peter George says the project is an outstanding opportunity that would have been exploited many years ago had the geology been understood and it not been held in part by companies that were focused on other projects.
“The presence of extensive high-grade copper-gold mineralisation at Falun has been well-established through both mining and exploration,” he noted.
“However, nothing like the full potential in the Greater Falun area has been unlocked.
“Previous owners were often focused on other projects in their stable and therefore did not dedicate the resources to exploring Falun and its highly mineralised surrounds. And those that did undertake exploration based their programs on the belief that Falun is a VMS-style system.”
George is confident that Alicanto has made a major breakthrough in the Greater Falun project with the discovery of copper-gold skarn at the Wolf Mountain, Heden and Lustebo targets.
“This has led us to the realisation that Falun is also likely to be a copper-gold skarn and explains some of the mineralogy surrounding the old mine,” he added.
The now-closed Falun mine has a long history of mining dating back over the best part of 1,000 years and had produced 28 million tonnes of high-grade copper-gold-zinc-silver-lead ore in modern times.
Alicanto’s upcoming drill program will target multiple high-priority target areas with known mineralisation as part of its strategy to underpin a central processing hub.
“This is the first in what will be ongoing drilling programs aimed at developing multiple, nearby, high-grade targets,” George noted.