THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) has completed the first two drill holes (DH 20-01 & DH 20-02) at the company’s Wolf Mountain copper-gold target area in the Bergslagen district of southern Sweden.
Alicanto Minerals reported that the drilling has intersected approximately 24 metres (true width) of strong alteration Chalcopyrite mineralisation, including a 4m zone of more intense chalcopyrite mineralisation, and an overall near-55m wide mineralised zone.
The first hole (DD 20-01) intersected more than 60m (down-hole) of strong alteration and disseminated sulphides, including chalcopyrite and pyrite and ended in mineralisation.
The second hole has extended this zone.
The company said its geologists have interpreted these two holes to have intersected the outer margins of a largescale copper-gold system within the Wolf Mountain area, adding that the tenor of alteration around the mineralisation supports this interpretation.
Chalcopyrite mineralisation was observed in drill hole 20-02 that is coincident with strong silica-garnet-amphibole alteration similar to what Alicanto has previously observed in rock chipping on surface that has yielded up to 11.9 per cent copper and 2.9 grams per tonne gold.
“Alicanto is excited to announce that the second hole in its maiden diamond core drilling program targeting multiple large-scale, high-grade copper-gold mineralisation at Wolf Mountain in Sweden, has intersected a four-metre wide (true width), strongly altered mineralised zone with significant visible chalcopyrite and continues to intersect disseminated sulphides in its surrounding halo,” Alicanto Minerals chief executive officer Peter George said in the company’s announcement to the Australian Securities Exchange.
“The first hole intersected at least 25 metres (true width) of disseminated sulphides of typically one to five per cent, including logged chalcopyrite and pyrite mineralisation and intense wall rock alteration, and together the two holes define a total sulphide mineralised zone of approximately 55 metres (true width).
“Last year, initial geophysical Induced Polarisation surveying (IP) at the Wolf Mountain prospect identified multiple, large-scale anomalies that have never been drill tested.
“These are prospective for high-grade copper-gold mineralisation.
“Previously mapped, mineralised trends with coincident high-grade rock-chips of up to 11.9 per cent copper at surface were highlighted by the survey, but excitingly, further large-scale targets were also identified under thin glacial cover.
“This drilling represents the first of these exciting new targets to be tested.
“The rig has now been mobilised to extend the first hole that finished in mineralisation.
“Further drill results will be anticipated over the coming months.”