Alicanto Minerals hits disseminated sulphides including copper along strike from world-class Falun deposit

Alicanto Minerals Ltd (ASX:AQI) has hit visible chalcopyrite copper in two holes drilled at the Green Mile prospect within its Greater Falun Copper-Gold Project in the Bergslagen region of Sweden – host to world-class base and precious metals projects such as the Garpenberg Mine. Green Mile is one of several prospects to be drilled at Greater Falun as part of an extensive new program now underway. The now-closed Falun mine in Bergslagen has a long-established mining history dating back over the best part of 1,000 years, producing 28 million tonnes of high-grade copper-gold-rich polymetallic ore with high-grade by-products of silver, zinc and lead in modern times. Alicanto’s drilling at Green Mile, which is 7 kilometres west along strike from the Falun mine, has intersected significant alteration with disseminated sulphide mineralisation in two drill holes. “Extremely promising” discovery Managing director Peter George said: “It is not often that a junior explorer secures unexplored ground just 7 kilometres along strike from a world-class mine with the scale and grade of Falun. “To then discover visual chalcopyrite copper mineralisation in drilling, near the surface, along the same geological structure as deposits such as Gronbo, Sagittarius and Falun over 3 kilometres in length is extremely promising. “Through modern processing power and boots on the ground geology, we have also found what we think is the continuation of the host sequence to the west of the Gronbo deposit which structurally repeats in several parallel horizons. “This drilling campaign will continue to test the numerous copper-gold and polymetallic skarn targets we have identified at Greater Falun, including these new findings at Green Mile”. Technical details Drilling was instigated to explore several airborne EM anomalies in the vicinities of the Grönbo polymetallic massive sulphide prospect. The anomalies have been identified through reprocessing of historical airborne EM surveys. Contextually interesting anomalies have been field visited and followed up with ground EM to further define drill targets. Recent field mapping has revealed several parallel limestone strata as well as strongly altered proximal footwall alteration in outcrop up to 3 kilometres to the west of initial drillholes. The limestone occurrences in the central horizon show massive Garnet-Pyroxene skarn alteration in parts. West of Kavelmora limestone a galena mineralized limestone-dolomite showing has been found. Exploration plan Alicanto is currently undertaking fieldwork and a 4,000-metre drilling program starting at the Green Mile Target within the Greater Falun Project and along strike from the historical Falun mine. This initial reconnaissance drilling is planned to be completed by the end of 2020 with follow-up drilling expected to commence immediately after the Christmas and New Year’s break. Phase-I of current drilling at Green Mile will include investigating more of the AEM anomalies associated to limestone stratigraphy West of Grönbo, pending work plan approval. Phase-II will include more follow up drilling at the recent intersection in GRO20-02 to investigate the continuity of mineralization from Grönbo out into its surroundings and at depth.