THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) has kicked off a 4,000m diamond drilling program at the company’s Greater Falun copper-gold project in the Bergslagen region of Sweden.
Alicanto Minerals will be drilling to test new targets and seek to establish extensions to known mineralisation located in the vicinity of major copper gold systems.
The company explained the drilling will be the first thorough modern exploration campaign undertaken at Greater Falun as well as being the first drilling since Alicanto made a major breakthrough by establishing that the dominant mineralisation is copper-gold skarn, not a Volcanogenic Massive Sulphide (VMS) system as long believed.
Alicanto aims to establish a mineral inventory capable of supporting a central processing hub.
The diamond drilling program has commenced at the Green Mile targets, after drilling of which Alicanto expects to move the drill rig onto the next set of targets.
Alicanto is currently interpreting historic airborne electro-magnetic surveys and undertaking new ground electro-magnetic surveys, from across a large portion of the company’s tenements, to assist in further refining the search for conductors within the tenements.
“The extent of known mineralisation and the high quality of our targets mean this is a potentially company-making drilling program,” Alicanto Minerals managing director Peter George said in the company’s announcement to the Australian Securities Exchange.
“We have mapped more than 2,000 outcrops and historical surface workings which have resulted in us discovering seven copper-gold skarns at surface.
“When we overlay this information onto the large volume of historical and recent geophysical survey data, an impressive picture of the Greater Falun project is forming that has not been seen before now.
“This is the largest program ever undertaken within the Greater Falun project and will see us test the multiple EM signatures, IP Anomalies and copper-gold and polymetallic skarn targets we have discovered.
“We have started the drilling program with the untested EM conductors at Green Mile along strike from the historic, high-grade copper-gold Falun Mine, which produced 28 million tonnes at 4 per cent copper, 4 grams per tonne gold, 5 per cent zinc, 2 per cent lead and 35 grams per tonne silver up until 1992.
“The conductors are coincident with footwall alteration and high-grade rock chip results mapped on surface.”