Various field programs including ground geophysics are being carried out to refine strong targets identified in the highly prospective 3.5km corridor at Falun ahead of a diamond drilling program to commence this quarter.

Alicanto Minerals (ASX:AQI) says ground fixed loop electromagnetic survey crews and ground gravity crews are currently conducting survey work within the refined target area to define high priority targets ahead of the commencement of drilling.

The company now controls over 60km of the target limestone horizon within a total landholding of 312km2 at Falun, with excellent potential for near-mine discoveries following the acquisition of the Exploration Permit hosting the historical Falun Mine.

Before its closure in 1992, the Falun mine produced 28Mt at 4% copper, 4g/t gold, 5% zinc, 2% lead and 35g/t silver, considered as one of the great mines of Europe operating for nearly 1,000 years.

But despite its ‘world-class’ credentials, the mine has received limited modern exploration since.

At a time when the world is screaming out for copper, on the back of decarbonisation and the green energy transition, AQI’s exploration work at Falun is perfectly timed.


Follow-up drilling set for September quarter

AQI managing director Rob Sennitt says the company will continue to refine these targets ahead of the commencement of the diamond drill program this quarter.

This work, along with securing relevant workplan approvals, is being undertaken in preparation for a planned follow-up drill program scheduled for the September 2023 quarter.


Drill targets

Alicanto ASX AQI
Map of Falun regional geology highlighting the key area of interest and high priority targets. Pic: Supplied (AQI)


While there are numerous targets within Alicanto’s Falun permits, the company is focusing on the higher priority drill targets in the area that are currently being followed up for the upcoming drill program.



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.