Alicanto Minerals discovers new copper-gold anomalies in Sweden

Special Report: Alicanto Minerals has significantly enhanced the potential of its Greater Falun project in Sweden with the discovery of four new four copper-gold targets in its Wolf Mountain prospect.

The new copper-gold prospects were pinpointed by Alicanto Minerals (ASX:AQI) through a geophysical imaging survey and lie adjacent to existing mineralisation at Wolf Mountain within its Greater Falun project.

“These new anomalies are highly significant because not only are they strong signatures, but they are located right next to known copper-gold mineralisation,” said managing director, Peter George.

The geophysical survey detected induced polarisation (IP) anomalies in an area of 3sqkm at the Wolf Mountain prospect, and the company believes these lie on the outer fringes of a mineralised system with higher-grade ore.

“The IP anomalies and magnetic signatures uncovered at Wolf Mountain are intriguing because they suggest the system could be very large (at least 5km),” said George.

Large magnetic signature found next to Wolf Mountain targets

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.

An earlier, smaller geophysical survey at Wolf Mountain led to a maiden drilling program and the discovery of distal copper-gold skarn with grades of up to 2.1 per cent copper, 69 grams per tonne silver and 1.3 per cent zinc.

Also, a large airborne magnetic signature has been uncovered 2.5km south-south-west of the four copper-gold targets which Alicanto geologists believe is a causative intrusion with copper-gold mineralisation.

The intrusion could be part of the copper-gold skarn system intersected in initial drilling at Wolf Mountain, increasing the potential strike length of the copper-gold system to more than 5km.

Exploration drilling taken place at Wolf Mountain prospect

Drilling is underway to test the new copper-gold and polymetallic targets at Wolf Mountain.

The first target for the drilling is known as Green Mile Alicanto’s Greater Falun project, and drilling will progress on to a series of targets including Wolf Mountain.

The company has mapped more than 2,000 outcrops and historical surface workings at its Greater Falun project, including those at Wolf Mountain.

“When we overlay this information on to the huge amount of historical and recent geophysical data from the last 50 years, an impressive picture of the Greater Falun project is forming that has not been seen before,” said George.

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.

Bellevue Gold (ASX:BGL) former chairman, Ray Shorrocks, recently joined the board of Alicanto.