Alicanto Minerals Ltd (ASX:AQI) has identified a number of strong targets in a highly prospective 3.5-kilometre corridor at the Falun Project in Sweden which it intends to diamond drill later this quarter.
To further refine high-priority targets, the company is undertaking ground geophysics including surface electromagnetic and gravity surveys.
This geophysical work is focused on the 3.5-kilometre trend that runs between the historic Falun mine and the high-grade mineralisation intersected at the Skyttgruvan-Naverberg target.
The company has called for tenders for a contractor to undertake a diamond drill program to test the targets and this is scheduled to start this quarter.
Refining targets
Alicanto managing director Rob Sennitt said: “We are closing in on our best targets in what is clearly a highly prospective 3.5-kilometre corridor at Falun.
“These latest field programs will help ensure we design the most effective diamond drill program focused on the highest priority targets.
“We will continue to refine these targets ahead of the commencement of the diamond drill program this quarter.”
Previous producer
Alicanto is aiming to source further mineralisation at and around the historical Falun mine which last operated in 1992 and has produced 28 million tonnes at 4% copper, 4 g/t gold, 5% zinc, 2% lead and 35 g/t silver.
Since its closure, only limited modern exploration and drilling has been completed in the near-mine environment.
Map of Falun regional geology highlighting the key area of interest and current high-priority targets for follow-up drilling.
Following the acquisition of the Exploration Permit hosting the historic Falun mine, Alicanto now controls more than 60 kilometres of the target limestone horizon within a total landholding of 312 square kilometres at Falun, with strong potential for near-mine discoveries.
Survey work
Mineralisation at the Falun mine consists of a significant massive pyrite and chalcopyrite core to the mineralised zone which should be reflected as a conductive and higher density target in geophysical surveys.
As a result, ground fixed loop electromagnetic survey crews and ground gravity crews are conducting survey work of high-priority targets within the target area.
This work, along with securing relevant work plan approvals, is being undertaken in preparation for a planned follow-up drill program scheduled for this quarter.