THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) completed its maiden IP survey at the company’s Wolf Mountain copper-gold target area within the Bergslagen district of Southern Sweden.
Alicanto Minerals said the survey identified multiple new, large-scale IP chargeability and resistivity anomalies it believes may correspond to both disseminated and semi-massive sulphide bodies.
In line with the IP anomalies are rock chip results of up to 11.9 per cent copper and 2.9 grams per tonne gold across four separate mapped mineralised trends, over one kilometre strike that are completely open.
Alicanto said multiple IP anomalies were also identified under shallow cover that at this stage remain unsampled and undrilled.
The company explained that the IP only covers 300 metres of strike on regional scale alteration and the structures that have been identified and mapped by Alicanto geologists over 14km are still considered highly prospective for both high-grade and bulk tonnage copper-gold mineralisation.
The Wolf Mountain prospect is yet to be subjected to the drill bit and the company considers these newly identified IP anomalies as high priority drill targets.
“Our initial IP survey at the Wolf Mountain prospect has identified multiple undrilled, large-scale anomalies prospective for high-grade copper-gold mineralisation,” Alicanto Minerals chief executive officer Peter George said in the company’s announcement to the Australian Securities Exchange.
“Previously mapped, mineralised trends with coincident high-grade rock chips of up to 11.9 per cent Copper and 2.9 grams per tonne gold, are highlighted by the survey.
“However, excitingly, further large-scale targets have also been identified under thin glacial cover, and all targets are undrilled and remain open along strike.
“The IP was conducted to follow up on the recent identification of a regional scale greater than-14-kilometres long hydrothermal system at Wolf Mountain, considered prospective for high-grade and bulk-tonnage copper-gold mineralisation.
“The survey only partially covers a 300 metre portion of the identified mineralised trend and mineralisation is open in all directions providing great encouragement for further exploration.”
Alicanto is concurrently undertaking 1,000 metres of maiden diamond drill testing of multiple high-grade copper, zinc and gold targets at Naverberg and Oxberg.
“In addition to the proposed maiden diamond drilling at the advanced, high-grade Oxberg and Naverberg zinc-lead-copper-silver-gold VMS targets, Alicanto intends to advance the newly identified anomalies at Wolf Mountain to initial diamond drill testing in the next few months,” George continued.
“Further Geophysical surveys are also being planned and Alicanto will inform the market of these as the company proceeds.
“Industry leading geophysical consultants, Southern Geoscience, are also currently reinterpreting all of the historical and existing geophysical datasets from the region, with new target areas anticipated to drive the next phase of exploration and drilling on the project areas.
“In addition, results from the 12,000 metre diamond drilling program at the Arakaka gold project in Guyana, fully funded by NordGold SE, are anticipated in the near future.”