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Alicanto Minerals Reports Maiden Arakaka Gold Resource

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) released a maiden JORC 2012-compliant Inferred Resource for the company’s 100 per cent-owned Arakaka gold project in Northwest Guyana, South America.

Alicanto Minerals’ declared the Inferred Resource of 500,000 ounces at 1.8 grams per tonne gold based on a review of data at Arakaka collected by Alicanto in conjunction with that provided by Barrick Gold Corp. (ASX 19 June 2018) and NordGold, (ASX 12 May 2020).

The Resource was calculated by Perth-based Cube Consulting.

The Mineral Resource Estimate (MRE) for the Arakaka gold project is taken from two separate domains, the Purple Heart and Gomes deposits located approximately six kilometres from one another.

The Purple Heart resource lies within a stacked thrust system developed to the margin of multiple porphyry intrusions of variable composition hosted within metavolcanics and metasediments where mineralisation has been observed to extend to approximately 150 metres vertical depth.

At Gomes the current resource is located within approximately 500m of strike along a West South West dipping regional scale shear, the Temberlin shear zone where mineralisation has been observed to extend approximately 100m vertical depth.

“This Resource is shallow, the mineralisation remains open in all directions and we already have numerous intersections outside the resource which will form part of the next estimate,” Alicanto Minerals managing director Peter George said in the company’s ASX announcement.

“We also have multiple walk-up targets with multi-million-ounce bulk tonnage potential that remain to be drilled.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@alicantominerals.com.au

 

Web: www.alicantominerals.com.au

 

 

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.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@alicantominerals.com.au

 

Web: www.alicantominerals.com.au

 

Alicanto Minerals Drilling at Greater Falun in Sweden

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) has kicked off a 4,000m diamond drilling program at the company’s Greater Falun copper-gold project in the Bergslagen region of Sweden.

Alicanto Minerals will be drilling to test new targets and seek to establish extensions to known mineralisation located in the vicinity of major copper gold systems.

The company explained the drilling will be the first thorough modern exploration campaign undertaken at Greater Falun as well as being the first drilling since Alicanto made a major breakthrough by establishing that the dominant mineralisation is copper-gold skarn, not a Volcanogenic Massive Sulphide (VMS) system as long believed.

Alicanto aims to establish a mineral inventory capable of supporting a central processing hub.

The diamond drilling program has commenced at the Green Mile targets, after drilling of which Alicanto expects to move the drill rig onto the next set of targets.

Alicanto is currently interpreting historic airborne electro-magnetic surveys and undertaking new ground electro-magnetic surveys, from across a large portion of the company’s tenements, to assist in further refining the search for conductors within the tenements.

“The extent of known mineralisation and the high quality of our targets mean this is a potentially company-making drilling program,” Alicanto Minerals managing director Peter George said in the company’s announcement to the Australian Securities Exchange.

“We have mapped more than 2,000 outcrops and historical surface workings which have resulted in us discovering seven copper-gold skarns at surface.

“When we overlay this information onto the large volume of historical and recent geophysical survey data, an impressive picture of the Greater Falun project is forming that has not been seen before now.

“This is the largest program ever undertaken within the Greater Falun project and will see us test the multiple EM signatures, IP Anomalies and copper-gold and polymetallic skarn targets we have discovered.

“We have started the drilling program with the untested EM conductors at Green Mile along strike from the historic, high-grade copper-gold Falun Mine, which produced 28 million tonnes at 4 per cent copper, 4 grams per tonne gold, 5 per cent zinc, 2 per cent lead and 35 grams per tonne silver up until 1992.

“The conductors are coincident with footwall alteration and high-grade rock chip results mapped on surface.”

 

Email: info@alicantominerals.com.au

 

Web: www.alicantominerals.com.au

 

Alicanto Minerals Identifies Four New Swedish Copper-Gold Targets

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) has applied for new tenements at Stone Lake, Heritage Valley and Swamp Thing, all located within the company’s Greater Falun copper-gold project in Sweden.

The applications follow recent fieldwork by Alicanto that has demonstrated the new Greater Falun tenements contain several copper-gold skarn targets in addition to those the company has previously announced at Wolf Mt, Heden and Lustebo.

Alicanto’s recent work also led to its claim of discovery of high-grade copper-gold mineralisation within granite at the Birch Mountain target.

Grab samples taken from the historic test mining area at Birch Mountain identified 4.94 per cent copper with 0.3 grams per tonne gold and 3.61 per cent copper with 0.18g/t gold in strongly K-feldspar altered granite.

Alicanto has interpreted the location to represent the causative plutonic part of a copper-gold skarn system.

This takes the total number of discovered copper-gold skarns at surface to seven, all discovered since January 2020 and within 15 kilometres of the Greater Falun project.

“These latest high-grade copper-gold results from the recent surface mapping campaign continue to strongly support Alicanto’s interpretation of the significance of the previous Wolf Mt, Heden and Lustebo copper-gold skarn discoveries,” Alicanto Minerals managing director Peter George said in the company’s announcement to the Australian Securities Exchange.

“A regional distribution with seven (so far) of these copper-gold skarn systems has now been identified in the Greater Falun area.

“These further highlight the immense prospectivity of Alicanto’s land holding in what is a highly-endowed region.”

 

TO READ THE ANNOUNCEMENT IN FULL: CLICK HERE

 

Email: info@alicantominerals.com.au

 

Web: www.alicantominerals.com.au

 

THE DAILY ROADHOUSE

 

Westgold Resources Recommences Sub-Level Mining at Big Bell

THE DRILL SERGEANT: Westgold Resources (ASX: WGX) has recommenced underground sub-level cave stoping at the Big Bell underground mine at the company’s Cue Gold Operations (CGO) in Western Australia.

Gateway Mining Identifies New Gold Corridors

THE DRILL SERGEANT: Gateway Mining (ASX: GML) has identified extensive new regional gold corridors outside of the main gold trend at the company’s 100 per cent-owned Gidgee gold project in Western Australia.

Encounter Resources Welcomes IGO in $15M Yeneena Earn-In Agreement

THE BOURSE WHISPERER: Encounter Resources (ASX: ENR) informed the market that Independence Group (ASX: IGO) has elected to enter an earn-in and Joint Venture agreement.

Azure Minerals Enhances Loma Bonita Gold Credentials

THE DRILL SERGEANT: Azure Minerals (ASX: AZS) reported new intersects of wide intervals of gold and silver mineralisation on the company’s 100 per cent-owned Alacrán project in Sonora, Mexico.

Alicanto Minerals Intersects Chalcopyrite Mineralisation at Wolf Mountain

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 Intersects Chalcopyrite Mineralisation at Wolf Mountain

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.”

 

 

Email: admin@alicantominerals.com.au

 

Web: www.alicantominerals.com.au

 

THE DAILY ROADHOUSE 18/2/20

 

Middle Island Resources Grabs More Barkly IOCG Ground

THE BOURSE WHISPERER: Middle Island Resources (ASX: MDI) has been allocated between 19 per cent and 95 per cent of each of four competing exploration licence applications, located within the newly available IOCG-prospective former Barkly moratorium area of the Northern Territory.

Bellevue Gold Drilling Results to Contribute to Resources Update

THE DRILL SERGEANT: Bellevue Gold (ASX; BGL) released the latest high-grade infill drill results that are expected to further underpin a maiden Indicated Resource at the company’s Bellevue gold project in Western Australia.

Antipa Minerals and Rio Tinto JV Identifies New Targets at Citadel

THE DRILL SERGEANT: Antipa Minerals (ASX: AZY) is advancing its exploration activities at the company’s Citadel project in the Paterson Province of Western Australia.

Alicanto Minerals Intersects Wide Zones of Swedish Mineralisation

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 Intersects Wide Zones of Swedish Mineralisation

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.”

 

Email: admin@alicantominerals.com.au

Web: www.alicantominerals.com.au

 

THE DAILY ROADHOUSE

 

Golden Rim Identifies Multiple High-Grade Gold Structures

THE DRILL SERGEANT: Golden Rim Resources (ASX: GMR) results for further rock chip samples and from geophysical data it collected as part of an ongoing exploration campaign at the company’s Kouri gold project in Burkina Faso.

Alicanto Exercises Swedish Project Acquisition Option

THE BOURSE WHISPERER: Alicanto Minerals (ASX: AQI) exercised an option to acquire 100 per cent of shares in Zaffer (Australia) Pty Ltd.

African Gold Hits High Grades at Sitakili Permit

THE DRILL SERGEANT: African Gold (ASX: A1G) recently completed a maiden drill program for the preliminary assessment of the Kirchon and Grand Filon prospects on the company’s Sitakili Permit in West Mali.

 

Alicanto Exercises Swedish Project Acquisition Option

THE BOURSE WHISPERER: Alicanto Minerals (ASX: AQI) exercised an option to acquire 100 per cent of shares in Zaffer (Australia) Pty Ltd.

Zaffer is the owner of the Oxberg and Naverberg VMS (Volcanogenic Massive Sulphide) projects within the highly endowed copper-gold-zinc-lead-silver Bergslagen Mining District of Southern Sweden where Alicanto has been undertaking exploration activities over the past six months.

This has consisted confirmation drilling on the Oxberg project that intersected high-grade copper, gold and zinc mineralisation beneath extensive surface anomalies, which remains open in all directions.

Extensive field mapping and surface geochemistry sampling defined both a new copper gold target and substantial extensions of base metal mineralisation confirming a +45km mineralised trend, which the company thinks deserves further exploration activity and maiden drill testing.

During this time, Alicanto acquired additional tenure consolidating the Oxberg-Naverberg-Wolf Mountain projects into a contiguous land package where it completed an initial IP (Induced Polarisation) geophysical survey highlighting a large-scale, undrilled copper-gold target, complemented by surface rock chip results.

At this stage, the Wolf Mountain prospect is undrilled and these newly identified IP anomalies represent high priority drill targets for the company.

The acquisition of the Oxberg and Naverberg project concessions will give Alicanto an aggregate 130 square kilometres holding on two major VMS horizons, including ownership of the historic Skyttgruvan mine and targets only five kilometres along strike from the historic Falun Mine.

The combined projects are located within the larger highly prospective Bergslagen District in Sweden, which is also host to the operating mines of Garpenberg and Zinkgruvan, operated by Boliden and Lundin respectively.

“We are very pleased to move ahead with the acquisition which is identified as an exciting district-scale project consisting of highly prospective and underexplored tenements within the prolific Bergslagen high-grade VMS district in Sweden,” Alicanto Minerals chairman Didier Murcia said in the company’s announcement to the Australian Securities Exchange.

“High-grade deposits such as Garpenberg, Zinkgruvan and Falun highlight the prospectivity of the region, and we look forward to exploring new targets at Oxberg and Naverberg.

“The Oxberg-Naverberg project and newly identified Wolf Mountain project were selected following a detailed review of the region, conducted by geologists with more than 25 years’ experience in the region, including multiple discoveries.

“The exploration potential, and results received to date, strongly support our decision to move forward in Sweden.”

Alicanto indicated it intends to immediately follow up the identification of multiple large-scale IP anomalies with initial drill testing over the next few months as well as completing maiden diamond drilling over the Oxberg and Naverberg target areas in the coming months.

 

Email: admin@alicantominerals.com.au

Web: www.alicantominerals.com.au