Alicanto spoiled for choice with more copper-gold targets for drilling

Special Report: Alicanto has added four new copper-gold skarn targets to its upcoming diamond drilling program at the Greater Falun project in Sweden.

This comes after Alicanto Minerals (ASX:AQI) applied for the new Stone Lake, Heritage Valley and Swamp Thing tenements that contain several skarn targets.

The fourth target, meanwhile, was defined after high-grade mineralisation was discovered within granite at the Birch Mountain target.

The company now has seven discovered copper-gold skarns at surface, all of which have been discovered since January 2020 and within 15km of Greater Falun.

“These latest high-grade copper-gold results from the recent surface mapping campaign continue to strongly support Alicanto’s interpretation of the significance of the previous Wolf Mt, Heden and Lustebo copper-gold skarn discoveries,” managing director Peter George said.

He added that the copper-gold skarn systems identified to date in the Greater Falun area further highlighted the immense prospectivity of the company’s landholding in a highly endowed region.

The +4,000m diamond drilling program is due to start next month, while detailed interpretation of historical and new geophysics combined with recent field work is due in a few weeks.

Greater Falun is located in Sweden’s mineral-rich Bergslagen district, which hosts world-class base and precious metals projects such as the Garpenberg mine operated by Boliden and the Zinkgruvan mine operated by Lundin.

The now-closed Falun mine itself has a long history of mining dating back over the best part of 1,000 years and had produced 28 million tonnes of high-grade copper-gold-zinc-silver-lead ore in modern times.

New tenements extend copper-gold footprint

Applications for the new tenements were filed following recent fieldwork.

Grab samples from the waste dump at the historical iron mine at Stone Lake identified massive garnet skarn with 1.81 per cent copper.

Like Heden, this shows proximal massive garnet skarn with copper mineralisation in contact to a major limestone unit, while a sulphide mineralised prospect 2km northwest of the Stone Lake prospect assayed 7.17 grams per tonne (g/t) gold.

Over at Swamp Thing, grab samples from historical test mining at the Limestone quarry identified copper-gold skarn grading 1.81 per cent copper.

Meanwhile, proximal massive garnet skarn returning grades of 1.19 per cent copper and 0.42g/t gold was identified at waste dumps at the historical iron mines at Heritage Valley.

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.