Alicanto starts drilling for ‘repeats’ of historic, world class Falun copper-gold mine
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Alicanto Minerals has begun diamond drilling in Sweden to test high priority brownfields targets at the world-class historic Falun copper-gold mine.
Falun was a monster in its day, producing 28Mt at 4% copper, 4g/t gold, 5% zinc, 2% lead and 35g/t silver over an estimated 1000 years.
It closed in 1992 amidst low commodity prices.
AQI says that despite its world class credentials, Falun has received little follow-up modern exploration since its closure, until now.
Recent fieldwork, including mapping, electromagnetic and gravity surveys, has identified numerous targets which are highly prospective for a Falun-style repeat deposit.
“Our lead-up exploration work has been highly successful in identifying a number of high priority targets within our key area of interest at Falun,” Alicanto Minerals (ASX:AQI) MD Rob Sennitt said.
“We now have a very focussed diamond drill program planned to test these targets.
“This brownfields drilling program has the potential to create significant value for Alicanto shareholders.
“We look forward to the results of the program and confirming the significant opportunity that still exists at and around what was historically a world class copper-gold mine.”
Alicanto is confident that the historical Falun mine is only a small part of a major mineralised belt stretching over at least 10km within its Falun permits – which means there’s potential for rapid resource growth at the project.
A minimum of 5,000 metres is planned in the current program, which aims to test high priority targets around the historic Falun mine as well as the highly prospective 3.5km trend which runs between Falun and the high-grade mineralisation intersected at the Skyttgruvan-Naverberg target.
At Skyttgruvan-Naverberg, the company has identified assays up to 744g/t silver, up to 1.9% copper, and up to 6.65g/t gold within broader zones of zinc (assays up to 32.4%).
Downhole geophysics completed after the discovery drillhole at Skyttgruvan-Naverberg also highlighted a significant electromagnetic conductor that is a key target for follow up.
Additionally, a series of untested gravity targets are present along the key mineralised horizon between Falun and Skyttgruvan-Naverberg that are highly prospective for high-density sulphide mineralisation and are also key targets for the current drill program.
Fieldwork is ongoing with expectations that further strong targets will continue to be identified.
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.