THE DRILL SERGEANT: Alicanto Minerals reported on the first holes drilled at the company’s Greater Falun copper-gold-silver project in Sweden.
Alicanto Minerals said the holes returned shallow, high-grade assays from the Swamp Thing and Heden prospects, which sit within 15 kilometres of the Falun copper-gold mine that was closed in 1992.
The company considers the results as particularly important because they also support Alicanto’s belief that Greater Falun is a Skarn system, not Volcanogenic Massive Sulphides (VMS).
“These are genuinely high-grade results, and they are an outstanding start to our exploration campaign,” Alicanto Minerals managing director Peter George said in the company’s ASX announcement.
“The grades point to the potential for an extensive mineralised system, they are shallow and they support Alicanto’s view that Greater Falun is not a VMS as long thought but is actually a skarn-hosted system.
“This is a major breakthrough because it shows we are on track to crack the code, which could open the door to a world-class system.
“Our geological model, which is based on extensive mining history in the area, our detailed mapping and now these initial drilling results shows there is potential for a large system with areas of very high-grade mineralisation.
“This information is driving the new 20,000 metres drilling program now underway.
“We have two diamond rigs turning at Falun, a third being mobilised to Sala and we expect to have a far more detailed picture of the project over the next few months.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE