Alicanto Minerals Ltd (ASX:AQI) welcomes high-grade assay results from its first drill hole at the Skyttgruvan-Naverberg target at the Falun Project in Sweden.
The results from the prospect include up to 744 g/t silver, 32.4% zinc and 1.9% copper, confirming mineralisation in the same host horizon as the historical Falun mine.
Multiple zones of mineralisation
Assay results from first drill hole confirm multiple zones of “significant mineralisation”, with intersections including:
- 5.3 metres at 6.8% zinc equivalent (84 g/t silver, 0.5% copper, 3.3% zinc, 1.2% lead);
- 2.9 metres at 14.7% zinc equivalent (194 g/t silver, 0.1% copper, 4.9% zinc, 7.6% lead);
- 6.8 metres at 9.7% zinc equivalent (114 g/t silver, 0.5% copper, 5.5% zinc, 1.0% lead, 0.13 g/t gold); and
- 3.9 metres at 11.3% zinc equivalent (20 g/t silver, 0.2% copper, 9.5% zinc, 1.5% lead).
What’s next?
The company has planned follow-up exploration, including diamond core drilling, along key target areas of the 3.5-kilometre prospective mineralised limestone horizon that hosts the historic world-class copper-gold-zinc-silver Falun mine.
A second step-out diamond hole was recently drilled which didn’t intersect the target limestone horizon but stringer and disseminated copper (chalcopyrite) mineralisation was intercepted over 8 metres and downhole electromagnetic surveying has allowed the refinement of a significant off-hole conductor interpreted to be the potential offset of mineralisation from that identified in the first hole.
Alicanto geologists are now compiling and reviewing these latest results along with newly acquired historical data associated with the Falun mine. This analysis is driving the permitting for the next stage of follow-up exploration at Falun.
Meanwhile, at the Sala Project, drilling has started up once more, targeting step-out resource growth and near mine targets associated with high-grade silver and zinc similar to the Sala mine, which historically produced 200 million ounces of silver at an average grade of 1,244 g/t silver and up to 7,000 g/t silver.
Important breakthrough
Alicanto managing director Rob Sennitt said: “These are extremely encouraging results which suggest we have made an important breakthrough in our search of the extension of the rich Falun mineralised system.
“The Falun mine was one of the great mines of the world. For centuries it was the largest copper producer in the western world. We have always believed there is significant potential for additional mineralisation in the region.
“These results, some 3.5 kilometres from the historic Falun mine, continue to build on our thesis that the Falun system is much bigger than what was initially mined.
“The success of the two drill holes provides significant encouragement to progress with the design of a comprehensive program to continue our exploration at Falun.
"Alicanto has now identified two high-quality projects at Falun and Sala which provide significant upside and optionality for Alicanto shareholders.”
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