Special Report: Alicanto’s drilling has uncovered further evidence of a regional scale skarn system in southern Sweden.

The recently completed phase-one diamond drilling program at the Wolf Mountain prospect in the Bergslagen mining district has defined widespread broad and strongly altered skarn mineralisation with between 1 per cent and 5 per cent sulphide mineralisation.

This includes chalcopyrite and pyrite – minerals commonly associated with copper and gold deposits – that are thought to represent the margins of a potentially large mineralised system.

Alicanto Minerals (ASX:AQI) added that stronger sulphide mineralisation including multiple chalcopyrite bearing veins up to 20cm in width and containing up to 10 per cent sulphides that were intersected in the first two holes have now been intersected a further 120m south in two more drill holes.

While results are still pending, visual logging has identified wide intercepts of disseminated and breccia-hosted sulphides from surface in the fifth hole and disseminated sulphides from surface along with stronger sulphide mineralisation in the fourth hole.

The first two holes had intersected at least 55m of disseminated sulphide mineralisation with a more intense 4m sulphide zone.

Wolf Mountain Target area plan map with drill hole collars for maiden diamond drilling Pic: Supplied

Alicanto noted that its geological team sees a direct geological link between the broader tenement package of geological targets including Lustebo and Oxberg.

Previous drilling at Lustebo had returned grades of up to 9.5 per cent copper, 16 grams per tonne (g/t) gold, 285g/t silver, 3.9 per cent lead and 8.2 per cent zinc in two holes.

Meanwhile, Oxberg hosts massive replacement style mineralisation with results of 2.8m at 4.7 per cent zinc, 2.2 per cent lead and 89g/t silver and 3.4m at 2.5 per cent zinc, 1 per cent lead and 11g/t silver.

“In addition to the first two holes intersecting at least 55m (true width) of disseminated sulphides of typically 1-5 per cent, including logged chalcopyrite and pyrite mineralisation and intense wall rock alteration, this more recent drilling has also intersected up to 80m of similar alteration and mineralisation from surface,” chief executive officer Peter George said.

“Importantly, there is an intense chalcopyrite and pyrite zone (5 per cent) within the mineralisation now up to 7.2m wide (true width) and the mineralisation remains open in all directions.

“On the back of our recent drilling, the current interpretations suggest the proximal chalcopyrite bearing skarn at the heart of this system remains to be intersected and we may be as little as a few hundred metres from our main target.”

The company is starting its field season up again within the next two weeks and the company will plan its next work program to better define targets in 3D and locate proximal copper-bearing skarn mineralisation at Wolf Mountain, and VMS deposits at Oxberg and Naverberg.

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This story was developed in collaboration with Alicanto Minerals, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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