Alicanto: historical records hid extensive, shallow silver-lead-zinc-copper mineralisation at Sala
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Alicanto has uncovered historical high-grade assays that reveal extensive shallow mineralisation above the current drilling target area at its Sala silver-lead-zinc-copper project.
The results were obtained from the Swedish Geological Survey and are all located within 150m of surface and include the highest zinc assays (1.2m grading 38.5% zinc) that it has seen to date at the project.
Importantly for Alicanto Minerals (ASX:AQI), the assays reveal extensive shallower mineralisation that has extended the Prince Lode updip and 600m to the south, highlighting the potential for further growth in this direction.
This is likely to be hugely beneficial to the company’s upcoming maiden resource estimate, which is expected by the coming quarter.
The company is currently drilling the area between these results and the Prince Lode area.
“These results reveal extensive high-grade mineralisation at Prince from near the surface. We believe this mineralisation may link up with intersections down to at least 500m deep,” managing director Peter George said.
“The results also show that high-grade mineralisation stretches a further 600m to the south near the surface. This knowledge will reduce our drilling costs and accelerate our program in this area.
“We are now drilling in the area between these assays and the Prince target area to confirm the continuity between the two.”
The assays from the 42 holes totalling about 4,000m included a large number of significant results such as:
● 35.1m grading 4.2% zinc and 0.5% lead including 8.9m at 85 grams per tonne silver, 7.5% zinc and 1.3% lead;
● 32.7m at 5.4% zinc and 0.4% lead that includes 2.2m at 210g/t silver, 16.4% zinc and 2.3% lead and 4.3m at 165g/t silver, 20.7% zinc and 1.1% lead;
● 15.2m at 11.1% zinc and 0.7% lead including 5.9m at 20.2% zinc and 0.2% lead; and
● 13.6m at 7.0% zinc and 0.5% lead including 1.2m at 38.5% zinc and 2.4% lead.
All holes are shallow – with a maximum depth of 176m – and highlight significant high grade, wide, zinc dominant mineralised intersections, which to date have not been part of the resource target area.
They also support the previously reported intersection of 82m at 40g/t silver, 5.3% zinc and 0.3% lead that now appears to be part of the expanded Prince lode target.
Additionally, the historical assays are located between the Prince lode and margins of the historic Sala Mine, adding great value in understanding the relationship between the two mineralisation styles.
Further work permits are being progressed to target the extents of the Sala and Prince systems along strike.
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.