THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) has hit more than 60 metres of strong alteration and disseminated sulphides including chalcopyrite and pyrite with the first diamond core drill hole of a maiden multi-hole drill program at the company’s 100 per cent-owned Wolf Mountain project in Sweden.
Alicanto Minerals is drilling at Wolf Mountain, targeting multiple large-scale, high-grade, copper-gold targets it had identified by Induced Polarisation (IP) chargeability and resistivity anomalies for potential disseminated and semimassive sulphide mineralisation.
The company’s earlier mapping and sampling activities identified numerous, sub-parallel lines of ancient shallow mine workings over more than a kilometre with rock chips up to 11.9 per cent copper and 2.9 grams per tonne gold at Wolf Mountain.
The company reported that the maiden drilling program has intersected more than 60 metres of disseminated chalcopyrite mineralisation from 54.25 to 117.5 metres down hole, ending in disseminated mineralisation.
“Alicanto is excited to announce that maiden diamond core drilling targeting multiple large-scale, high-grade copper-gold mineralisation at Wolf Mountain in Sweden has intersected at least 60 metres of disseminated sulphides of typically one to five per cent, including logged chalcopyrite and pyrite mineralisation and intense wall rock alteration in the first drill hole,” Alicanto Minerals chief executive officer Peter George said in the company’s announcement to the Australian Securities Exchange.
“Initial geophysical Induced Polarization surveying (IP) at the Wolf Mountain prospect last year identified multiple, large-scale anomalies that have never been drill tested 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 been identified under thin glacial cover.
“This drilling represents the first of these exciting new targets to be tested.
“Drilling is interpreted by Alicanto geologists to have intersected the margins or ‘halo’ of what could be a large-scale mineralising system in the Wolf Mountain area.
“The rig has now been mobilised towards the interpreted geophysical higher intense anomaly of the system. Drill results will be anticipated over the coming weeks.”