First holes at the Greater Falun copper-gold-silver project in Sweden return shallow, high-grade copper, gold and silver — suggesting Alicanto (ASX:AQI) is “on track to crack the code, which could open the door to a world-class system”.

The holes were drilled at the ‘Swamp Thing’ and ‘Heden’ prospects, about 15km from the world-class Falun copper-gold mine which closed in 1992.

The wider Bergslagen is a 1,000 year old, tier-one mining jurisdiction, producing over 100 million tonnes of high-grade base and precious metals ore in modern times.

Pic: Map of the Falun Project – showing current drill targets in yellow dots, the recently acquired Sala Silver Project and the Garpenberg Mine (owned and operated by Boliden).

Alicanto believes here’s a lot more to be found here.

Results of the latest campaign so far support the explorer’s belief that Greater Falun is a ‘skarn’ system, not Volcanogenic Massive Sulphides (VMS), as believed by previous explorers.

Latest assays include high grade intercepts like 3.25% copper, 1.36 g/t gold, and. 31 g/t silver at Heden; and 3.76% copper, 2.36g/t gold and 37g/t silver at Swamp Thing.

“These are genuinely high-grade results, and they are an outstanding start to our exploration campaign,” Alicanto managing director Peter George says.

“The grades point to the potential for an extensive mineralised system — they are shallow, and they support Alicanto’s view that Greater Falun is not a VMS as long thought but is actually a skarn-hosted system.

“This is a major breakthrough because it shows we are on track to crack the code, which could open the door to a world-class system.

“Our geological model, which is based on extensive mining history in the area, our detailed mapping and now these initial drilling results shows there is potential for a large system with areas of very high-grade mineralisation.”

This information is driving a new 20,000m drilling program now underway, George says.

“We have two diamond rigs turning at Falun, a third being mobilised to Sala and we expect to have a far more detailed picture of the project over the next few months,” he says.



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.