The finds have emerged from a review of prior drilling between Prince and the historical Bronas mine, and in the first two diamond holes completed in the west by the explorer.

At Bronas, 600m north of Prince, Alicanto’s sampling has flagged multiple new high-grade zones, with assays such as 1.1m at 1326 grams per tonne silver, 0.8% zinc and 6.6% lead, and 3.9m at 737gpt silver, 1.2% zinc and 11.8% lead.

Data for the drillholes was believed lost, and the area has not been drilled since 1962.

Its drilling at the Finntorpet target, 575m west of Prince, delivered two successful holes with the best returning 7.5m at 31gpt silver and 0.6% Pb from 15m, over three additional zones, including 5.6m at 39gpt silver and 1.3% lead from 111m, 1.9m at 65gpt silver and 1.1% lead from 121m and 1.2m at 87gpt silver and 1.1% zinc from 496m.

While the grades are lower, Alicanto believes it is significant given the presence of Sala-style mineralisation in what has been interpreted as a significant and previously untested Hyttskogen fault zone.

The historical Sala mine, once Europe’s largest silver producer, is interpreted to sit on a splay originating from the Hyttskogen fault.

The Prince lode also continues to give up more encouragement, with drilling outside the existing 311,000t of zinc, 15Moz of silver and 44,000t of lead resource, returning 3.8m at 259gpt silver, 0.2% zinc and 8.6% lead.

Sala remains open in all directions and is said to be Sweden’s largest active undeveloped zinc-silver deposit.

Alicanto managing director Rob Sennitt said the most recent drilling in the rich Bergslagen mining region continued to suggest the company would be able to replicate the success of the original Sala mine that produced over 200Moz of silver at an average grade of 1244gpt during its life.

The explorer is now completing downhole surveys.

While the results are being interpreted it will focus its attention on the recently expanded Falun copper-gold-silver-zinc project elsewhere in Sweden, with plans to prioritise prospects ahead of a “significant” drilling program.

With the addition of the historical Falun mine, Alicanto has control of 60km of prospective target limestone horizon.

The company has around $4.6 million in cash remaining.