Alicanto Minerals Identifies New Targets at Wolf Mountain

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) has identified a new regional scale hydrothermal mineralised system at the Wolf Mountain prospect within the company’s optioned Oxberg and Naverberg VMS in the Bergslagen Mining District of Southern Sweden.

Alicanto Miinerals declared the new hydrothermal mineralised system at Wolf Mountain to be prospective for copper-gold mineralisation after rock chip results returned up to 11.9 per cent copper across four separate mapped mineralised trends that intermittently outcrop through shallow glacial till cover over one kilometre of strike and are completely open.

The company explained the high-grade rock chips were previously believed to be part of a wide system of copper stringers feeding VMS deposits in the vicinity.

However, it now considers the copper stringers are most likely part of a large scale greater than-14-kilometre hydrothermal system with similar characteristics to the Aitik copper-gold mine in Northern Sweden.

Alicanto currently has 1000 metres of maiden diamond drill testing of multiple high-grade copper, zinc and gold targets underway at:

Naverberg where multiple untested targets identified from high-grade rock chips of 26.1 per cent zinc, 13.5 per cent lead and 2.8 per cent copper; and

Oxberg where multiple undrilled targets were identified by rock chips up to 9.4 per cent zinc, 11.9 per cent copper and 3.7 per cent lead.

“The Bergslagen Mining District is world famous for producing large scale and high-grade VMS style copper-gold deposits,” Alicanto Minerals chief executive officer Peter George said in the company’s announcement to the Australian Securities Exchange.

“With the intensive work that our exploration team has done on the ground in the last few months at Naverberg and Oxberg and interrogating the research undertaken in the past by others – we now believe that we have identified a previously unrecognised, large-scale hydrothermal system greater than 14 kilometres long at Wolf Mountain prospect, prospective for high-grade and bulk-tonnage copper-gold, which has overprinted part of the Western extents of our Naverberg and Oxberg projects.

“The Wolf Mountain system appears to have occurred some 20 million years after the formation of the limestone ore horizon hosting the VMS deposits (as previously reported by Alicanto), and has been made possible through the re-mobilisation of the same structures that formed the VMS deposits.

“Our research has discovered that in the past, it was believed that the high-grade copper occurrences at Wolf Mountain prospect were part of the stringer systems feeding VMS deposits at Oxberg and Naverberg – given the presence of the metals, minerals and structures that we have now found at Wolf Mountain this shows many similarities with the same occurrences at the world famous Aitik copper-gold mine (in Sweden’s north) which produces over 39 million tonnes of ore per annum.”

Alicanto indicated it intends to complete its maiden 1000 metres of drilling on its initial targets on its Sweden projects this quarter.

It also aims to complete ground geophysical programs including IP that are proposed for the newly identified Wolf Mountain target area to commence over the coming weeks.