Alicanto intersects visible copper sulphide at Green Mile
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Special Report: Alicanto’s drilling at the Greater Falun project in Sweden is off to a strong start with visual disseminated sulphides observed at the Green Mile prospect.
The intersection of sulphides – including chalcopyrite and pyrite that are commonly associated with copper and gold – is significant as Green Mile is within the 10km belt that stretches from the historical Falun copper-gold mine in the east.
Alicanto Minerals (ASX:AQI) noted the western-most hole, which was drilled 10km from Falun, intersected moderate to strong alteration between 68m and 195m downhole that included weak (0.5 per cent) disseminated visual chalcopyrite and pyrite between 68.4m and 78.7m.
Additionally, the GRO20-02 hole about 7km west of Falun and 3km from the western-most hole intersected strong alteration between 24.2 and 37.5m downhole, including 1-5% disseminated sulphides with visual chalcopyrite and minor pyrite.
“It is not often that a junior explorer secures unexplored ground just 7km along strike from a world-class mine with the scale and grade of Falun,” managing director Peter George noted.
“To then discover visual chalcopyrite copper mineralisation in drilling, near the surface, along the same geological structure as deposits such as Gronbo, Sagittarius and Falun over 3km in length is extremely promising.
“Through modern processing power and boots on the ground geology, we have also found what we think is the continuation of the host sequence to the west of the Gronbo deposit which structurally repeats in several parallel horizons.”
He added that drilling will continue to test the numerous copper-gold and polymetallic skarn targets that the company has identified at Greater Falun.
Drilling at Green Mile is designed to explore a number of airborne electromagnetic anomalies close to the Gronbo polymetallic massive sulphide prospect.
The sulphide mineralisation in GRO20-02 is thought to directly relate to the mineralisation at Grönbo, with no previous drill intersections within the same strata in-between.
Alicanto notes that there is potential for semi-continuous to continuous mineralisation along the over 500m of strike-length, as well as further along to east and west being open at depth.
Further drilling is required to further vector in towards economic mineralisation at Green Mile.
The current Phase I drilling will investigate more electromagnetic anomalies associated with the limestone stratigraphy west of Gronbo.
Phase II drilling will include more follow-up drilling at the recent intersection in GRO20-02 to investigate the continuity of mineralisation from Grönbo out into its surroundings and at depth.
Greater Falun is in Sweden’s Bergslagen region, host to world-class base and precious metals projects such as Boliden’s Garpenberg mine, and Lundin’s Zinkgruvan mine.
The now shuttered Falun mine in Bergslagen produced 28 million tonnes of high-grade copper-gold polymetallic ore with high-grade by-products of silver, zinc and lead.
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.