Alicanto Minerals (ASX:AQI) says ground fixed loop electromagnetic survey crews and ground gravity crews are currently conducting survey work within the refined target area to define high priority targets ahead of the commencement of drilling.
The company now controls over 60km of the target limestone horizon within a total landholding of 312km2 at Falun, with excellent potential for near-mine discoveries following the acquisition of the Exploration Permit hosting the historical Falun Mine.
Before its closure in 1992, the Falun mine produced 28Mt at 4% copper, 4g/t gold, 5% zinc, 2% lead and 35g/t silver, considered as one of the great mines of Europe operating for nearly 1,000 years.
But despite its ‘world-class’ credentials, the mine has received limited modern exploration since.
At a time when the world is screaming out for copper, on the back of decarbonisation and the green energy transition, AQI’s exploration work at Falun is perfectly timed.
AQI managing director Rob Sennitt says the company will continue to refine these targets ahead of the commencement of the diamond drill program this quarter.
This work, along with securing relevant workplan approvals, is being undertaken in preparation for a planned follow-up drill program scheduled for the September 2023 quarter.
While there are numerous targets within Alicanto’s Falun permits, the company is focusing on the higher priority drill targets in the area that are currently being followed up for the upcoming drill program.
