Drilling at Alicanto’s Greater Falun Project in Sweden has intersected visual zinc-copper-silver-lead mineralisation in the first diamond drill hole at the Skyttgruvan-Naverberg target.

The hole has intersected multiple zones of massive sulphide and semi-massive to disseminated sulphides over a 43m interval within the prospective limestone unit associated with an extensive skarn alteration.

The target is along strike and just 3.5kms from the historical Falun mine, which produced 28Mt at 4% Copper, 4g/t gold, 5% Zinc, 2% lead and 35g/t Silver.

The mine operated for nearly 1,000 years, from the 10th Century until it closed in 1992 – and little modern exploration has been undertaken since.

While the visual mineralisation is an exciting observation, Alicanto Minerals (ASX:AQI) stresses that visual intersections of sulphides should never be considered a proxy or a substitute for laboratory analysis.

Assay results are expected to be available before the end of the quarter.

Second drill hole underway

The company has also completed down-hole electromagnetic (DHEM) surveying on drill hole GRO22-19 which has indicated a significant off hole conductor associated with the visual mineralisation.

And based on the visual mineralisation seen to date, a second diamond drillhole has commenced to target extensions of the mineralisation system.

“While still early days, to hit multiple zones of polymetallic massive sulphide in our first drill hole at one of our priority targets at the Greater Falun Project is a great result,” MD Rob Sennitt said.

“This result, along strike from the historic Falun Mine, builds on our thesis that the Greater Falun Project is part of a major mineralised belt that forms part of a significant mining district in the region.

“We have already commenced a follow up hole to further identify the scope and extent of this discovery.”

The company says the Skyttgruvan-Naverberg target remains open down dip and along strike – and highlights the prospectivity of the entire target limestone sequence from the Falun mine and beyond.




This article was developed in collaboration with Alicanto Minerals Limited, 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.