Alicanto Minerals Ltd (ASX:AQI) has intersected visual sulphide mineralisation in the first drill hole at the Skyttgruvan-Naverberg target along strike from the historically significant Falun Mine within its Greater Falun Project in Sweden.
The diamond hole has intersected multiple zones of massive to semi-massive zinc, lead, copper sulphides within a broad zone of disseminated sphalerite (zinc) mineralisation, along with some native silver.
Drill hole GRO22-19 intersected multiple zones of massive sulphide and semi-massive to disseminated sulphides over a 43-metre interval within the prospective limestone unit associated with an extensive skarn alteration.
Although assays are awaited, based on the visual mineralisation seen to date, a second diamond drill hole has started targeting extensions of the mineralisation system.
"Very encouraging"
Managing director Rob Sennitt said the results were very encouraging: “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.
“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.”
Pyrrhotite-chalcopyrite mineralisation at 389.75 metres in diamond drill core hole GRO22-19.
Near Falun Mine
The Skyttgruvan-Naverberg target is within the Greater Falun Project and is only 3.5 kilometres from the historical Falun Mine which produced 28 million tonnes at 4.0% copper, 4.0 g/t gold, 35 g/t silver, 5.0% zinc and 2.0% lead.
Mining at Falun continued up until 1992. For centuries, the mine was the largest supplier of copper in the western world.
Falun was one of the great mines of Europe operating for nearly 1,000 years before it closed but since then little to no modern exploration has been undertaken.
An operation from 1890-1908 at the Skyttgruvan-Naverberg area targeted copper-zinc production from a small underground mine.
No modern exploration has tested the mine horizon since the mine closure despite the close proximity and analogous lithostratigraphis position to Falun.
Map of Falun regional geology.
Drill hole GRO22-19 has been completed targeting the down plunge continuation 100 metres below the Skyttgruvan-Naverberg workings at a depth of 280 metres below surface.
At the target horizon a broad sulphide-rich interval in anthophyllite-chlorite altered rocks was intersected over 43.1 metres in the core with further narrower zones located further down hole.
A downhole electromagnetic survey was undertaken immediately at the completion of the drill hole with a series of strong conductors detected including three in-hole conductors and a longer-wave off-hole conductor (Main Conductor) some 30 to 50 metres north of the hole.
Assays for GRO22-19 have been rushed and results are expected before the end of the quarter.
Target (NYSE:TGT) remains open
Alicanto considers the visual results of the first drill hole as significant as the drilling has appeared to define a significant alteration halo, with a broad mineralised interval punctuated by higher sulphide content zones.
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.