Alicanto Minerals hits copper mineralisation at Sweden project
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Special Report: Alicanto Minerals has intersected a massive skarn of high-grade copper sulfide material during drilling at its Greater Falun copper-gold project in Sweden.
The hit for visible chalcopyrite copper occurred in the first hole drilled at Alicanto Minerals’ (ASX:AQI) Heden East target inside its Greater Falun project.
Drilling intersected 2.85m of massive pyroxene pro-grade skarn with bubble-like features of chalcopyrite copper and pyrite, including 1.02m of 5-10 per cent sulphides, from 69.95m.
“This is an outstanding result and means we have hit visible chalcopyrite copper at the first two targets we have drilled at Greater Falun in this current campaign,” managing director, Peter George, said.
Assay results for the Heden East target are expected in early 2021.
The drill result is considered extremely significant as it reveals the presence of high-grade copper and provides more Proof of Concept in the company’s exploration strategy.
“These visuals justify the direction we have taken in concentrating on the copper-gold skarn hosted within limestone,” said George.
Heden drill success underscores Alicanto’s exploration strategy
Alicanto Minerals’ executives visited more than 2,000 outcrops and historical surface workings in the Greater Falun area in developing its exploration strategy, which now appears to be paying dividends.
“The Heden target is a classic example of boots on the ground geology, coupled with the ability to identify an active mineral system, and highlights the immense potential at Greater Falun,” said George.
The drilling program at the Heden target is designed to explore a 3 km-long trend of limestone strata, up to 200m wide, with zoned garnet-pyroxene skarn alteration and associated chalcopyrite.
A drill rig will move 400m to the west of the latest drilling at Greater Falun, to the location of a copper-gold skarn and recently-detected magnetic anomalies.
Earlier, the company hit visible chalcopyrite copper in two holes of its Green Mile target.
“The pieces of the puzzle are coming together well, and we now have the best possible indicators to allow us to close in on the proximal part of the copper-gold skarn at Heden,” said George.
Alicanto Minerals is convinced its Greater Falun project is a district-scale opportunity, with historical high-grade and large-tonnage production from Falun mine.
The historic Falun mine produced 28 million tonnes at 4 per cent copper, 4 grams per tonne (g/t) gold, and 5 per cent zinc, 35 g/t silver, and 2 per cent lead.
Greater Falun is within Sweden’s Bergslagen region, host to Boliden’s Garpenberg mine, and Lundin’s Zinkgruvan mine, with a clutch of world-class base metals and precious metals projects.
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.