Alicanto Minerals Identifies New Wolf Mountain Copper-Gold Anomalies

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) completed an IP survey that identified four new copper-gold anomalies near known mineralisation at the company’s Wolf Mountain prospect in Sweden.

Alicanto Minerals suggested the results highlight the potential of Wolf Mountain, which is one of several prospects within the Greater Falun project in Sweden, where drilling is underway.

The new IP anomalies are located between 500 metres and 1.8 kilometres from earlier drilling, targeting results of a previous IP survey that led to the discovery of distal copper-gold skarn with grades of up to 2.1 per cent copper, 69g/t Silver and 1.3 per cent zinc and grab samples at surface of 11.9 per cent copper and 2.9g/t gold hosted within a 100m strongly altered zone.

Apollo is of the opinion that these intersections may be the outer fringes of a large mineralised system with a higher-grade core.

A large airborne magnetic signature has also been spotted 2.5 kilometres south-south-west of the most southern of the four IP targets referred to above.

Alicanto geologists have interpreted this as a Causative Intrusion complete with copper-gold mineralisation as established in historical shallow drilling.

“These new anomalies are highly significant because not only are they strong signatures, but they are located right next to known copper-gold mineralisation,” Alicanto Minerals managing director Peter George said in the company’s announcement to the Australian Securities Exchange.

“The IP anomalies and magnetic signatures uncovered at Wolf Mountain are intriguing because they suggest the system could be very large (at least 5km).

“The drilling campaign now underway will test the numerous copper-gold and polymetallic skarn targets we have identified at Greater Falun, including these new anomalies at Wolf Mountain.

“We have mapped more than 2,000 outcrops and historical surface workings dating back centuries.

“When we overlay this information onto the huge amount of historical and recent geophysical data from the last 50 years, an impressive picture of the Greater Falun project is forming that has not been seen before.

“We have also found grab samples within the Greater Falun project that represent each zonation of the copper-gold skarn model – we now need to further prove up the model with our exploration drilling and vector into the Proximal part of the copper-gold Skarns.”