Alicanto’s strong start to new drilling campaign near its 1000-year-old Falun mine
Special Report: Alicanto is now drilling the Skyttgruvan prospect where high grade mineralisation was previously identified in order to follow up the significant off-hole conductor.
Alicanto Minerals (ASX:AQI) is on the hunt for ‘repeats’ of the historic, world-class Falun copper gold mine, which produced 28Mt at 4% copper, 4 g/t gold, 5% zinc, 2% lead and 35 g/t silver over an estimated 1000 years of mine life.
But despite its world class credentials, Falun has received little follow up modern exploration since its closure in 1992- that is, until now.
AQI is confident that the historical Falun mine is only a small part of a major mineralised belt stretching over at least 10km within its Falun permits.
Its latest drill program, AQI has been focused on following up high priority targets around Falun and along a 3.5km trend which runs between the mine and the high-grade mineralisation previously intersected at the Skyttgruvan-Naverberg target.
Previous exploration work at Skyttgruvan-Naverberg identified assays up to 744g/t silver, up to 1.9% copper, and up to 6.65g/t gold within broader zones of zinc (assays up to 32.4%).
Encouraging results have been received from drilling at both the Krondiket and Galberget prospects. At Krondiket, strong proximal alteration has been intercepted with the potential for a new upflow zone immediately to the west of the historic deposit. At Galberget, a high priority off-hole electromagnetic conductor has been identified in a strongly altered intercept representing a potential down plunge extension of the Falun deposit to the southeast.
Drilling has now moved to follow up the significant off-hole electromagnetic conductor previously identified at the Skyttgruvan prospect.
“The drill program to-date is highly encouraging,” AQI managing director Rob Sennitt says.
“The success of the initial drill holes demonstrates not only the strong understanding of the regional geology and exploration model but also the ability of the team to identify highly prospective drill targets.
“We have now moved to drill the off-hole conductor at the Skyttgruvan target which is a key target of this drill campaign,” he says.
“We look forward to the ongoing results as we continue to progress the current drill program with numerous highly prospective targets remaining to be drilled”.
This article was developed in collaboration with Alicanto Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.