Alicanto hits an astonishing 9.5pc copper, 16g/t gold & 8.2pc zinc from maiden drilling
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Special Report: Remarkably high grades from maiden drilling support Alicanto’s argument that it is sitting on something big at Sweden’s world famous Bergslagen mining district.
In September, Alicanto launched a maiden drilling campaign at its Oxberg and Naverberg projects, located within the famously rich Bergslagen volcanogenic massive sulphide (VMS) mining district of Southern Sweden.
VMS deposits — rich in base and precious metals like copper, zinc, lead, gold and silver – tend to ‘cluster’ together, which means VMS camps can often be mined for a very, very long time.
Alicanto’s (ASX:AQI) Naverberg project is immediately along strike from the monster +28-million-tonne Falun deposit, while Oxberg lies within the same geological setting about 15km away.
At Naverberg’s Lustebo prospect, the first two drill holes from a maiden reconnaissance drill program have both intersected shallow massive sulphides.
Assays confirmed the exceptional grades — up to 9.5 per cent copper, 16 grams per tonne (g/t) gold, 285g/t silver, 8.2 per cent zinc, and 3.9 per cent lead.
The mineralisation at Lustebo dips moderately and is “open and unconstrained” in all directions, Alicanto says.
The explorer will now follow up on this initial success with down hole electromagnetics (EM) ahead of some follow up drilling.
“The company is very excited to announce the intersection of massive sulphides with high-grade copper, gold and zinc assays from its maiden diamond drilling program at the Lustebo prospect,” Alicanto chief executive officer Peter George says.
“The exceptionally high grades encountered in the maiden drilling support the company’s belief that significant high-grade base metal deposits exist in the underexplored Oxberg project area.
“Phase two follow-up drilling as well as new target drilling is anticipated to commence in the near term once permitting is completed.”
But Lustebo is only the first prospect area the company has drilled.
There is more than 45 kilometres of mapped prospective, mineralised horizons throughout the Oxberg-Naverberg project area.
Multiple other prospects have been identified and are being advanced towards preliminary drill testing, the company says.
Like the recently identified Wolf Mountain copper-gold prospect, 9km from Lustebo, where Alicanto has commenced an IP survey to follow up on rock chip results of up to 11.9 per cent copper.