Alicanto’s Falun project in Sweden might be much bigger than first thought

Alicanto Minerals has multiple reasons to celebrate the latest drilling results from the high-priority Skyttgruvan-Naverberg target at its Falun project in Sweden’s prolific Bergslagen mining district.

Reports Stockhead.

iStock533571686

Not only has the drill bit interested semi-massive sulphide mineralisation and disseminated copper, but it has also extended the interpreted size of the Skyttgruvan-Naverberg system.

Alicanto Minerals’ (ASX:AQI) latest drill program continues to provide evidence that Skyttgruvan-Naverberg is part of the same system as the historical Falun deposit which once produced 28Mt at 4% copper, 4g/t gold, 5% zinc, 2% lead and 35g/t silver.

The target is located at the site of a small open pit (Skyttgruvan) and underground mine (Naverberg) which historically produced copper and zinc just 3.5km from the historic Falun mine.

Initial drilling at Skyttgruvan-Naverberg in late 2022 intersected broad base metal mineralisation down-dip of historical workings. This included native silver (assays up to 744g/t), copper mineralisation (up to 1.9%) and anomalous gold values (up to 6.65g/t) within broader zones of zinc (up to 32.4%).

The intersected sequence was reported to be analogous to the stratigraphic location and asymmetric alteration in the host limestone of the Falun mine.

The follow-up drilling in hole GRO23-23 intersected visual mineralisation and identified a high-priority in-hole conductor for immediate drilling testing. 

Mineralisation was intersected 120m to the north of multiple zones of semi-massive to disseminated sulphides previously reported in hole GRO22-19.

Results from laboratory assaying are said to be “imminent”, however, initial interpretations by AQI geologists suggest the known footprint of the Skyttgruvan-Naverberg and proximal copper-bearing footwall alteration – the copper string zone reported in hole GRO22-20 – is now significantly larger than first thought.

Another visual intersection of the semi-massive sulphide zone of zinc and lead in drill hole GRO23-23. Source: AQI

“These results are important for two reasons; they extend the interpreted size of the Skyttgruvan-Naverberg system and they support Alicanto’s view of the strong potential for repeats of the rich Falun system along the 10km mineralised horizon contained on Alicanto’s permits,” AQI managing director Rob Sennitt said.

“It is now clear that the known footprint of the mineralised system at Skyttgruvan-Naverberg and the proximal copper-bearing footwall alteration is significantly larger than previously identified.”

AQI has long believed the historical Falun mine is just a small part of a major mineralised belt extending over at least 10km within the company’s permitted tenure.

The company controls over 60km of the target limestone horizon at Falun within a total landholding of 312km2.

Sennitt said the presence of strongly magnesium-altered rocks with disseminated base metals was a “highly encouraging” result, given the company’s understanding of the Falun mineralisation style.

“Further, the discovery of an in-hole conductor, with a stronger signal than that of the off-hole conductor identified in previous drilling, indicates a continuation of the system to the north, providing an excellent guide for ongoing drilling as we continue in our search for a new Falun deposit,” he said.

AQI’s next drill hole will target the strong in-hole conductor north of the current drilling, which is directed towards the central part of the deposit and the potential copper-gold mineralisation.

Upcoming Events

17th February 2022
Investor Webinar: Gateway Mining
Gateway Mining (ASX: GML) Managing Director Mark Cossom will discuss recennt highlights from the Company's Gedgee Gold Project in Western Australia and its exploration strategy for 2022.