ALICANTO MINERALS LIMITED The Company has also intersected intense biotite-amphibole-garnet alteration footprint in all recently drilled holes at the Wolf Mountain Prospect, proving the area has hosted a larger active alteration system than previously demonstrated.
Greater Falun is located in the Bergslagen region, which hosts world-class base and precious metals projects such as the Garpenberg mine operated by
Alicanto Managing Director
'While it is still early days in our exploration program, the latest diamond drill core suggests there could be proximal high-grade copper-gold or polymetallic skarn to be found nearby.
'We are extremely encouraged by the combination of the visible sulphides and chalcopyrite, the pervasive skarn alteration, the location of the mineralisation below old surface workings and the extensive sequence of limestones.
'We have now intersected copper-gold and polymetallic skarn mineralisation, including visible and/or assayed chalcopyrite/copper, at multiple targets (
'There are also new surface targets we have yet to test (
The Swamp thing - Technical Detail
One drill hole has been completed at The Swamp Thing (Enmyregruvan), ST20-01, targeting areas below the historical workings. Samples show zoned garnet-skarn alteration and pure limestone. Grab samples at waste piles from historical workings have previously assayed up to 1.81% Cu (ASX 18/07/2020). The drillhole also intersected a thick sequence of limestone between 17.60-204.95m, 226.40-254.00m and 323.40-344.30m. The limestone is locally intruded by granite and feldspar porphyry apophyses likely emanating from a Causative Intrusion.
Between 58.30-58.62m, the drillhole intersects a semi-massive sulphide skarn mineralisation with visual Chalcopyrite at the contact zone between limestone and a feldspar-porphyry apophysis. Overall, the intersected limestone varies between unaltered to completely skarn replaced near intrusive contacts. Traces of sphalerite occur at 113-135m and disseminated magnetite at 159-200m. Between 255.40-323.40m intense skarn alteration overprints what is interpreted as volcanic ash-siltsandstones and granite.
The hole was stopped in an undeformed, magnetite bearing intermediate intrusion, interpreted to post-date mineralisation formation. The thickness of the intersected limestone stratigraphy was significantly larger than expected, with a structural thickening process likely taking place. The strength of the endoskarn in the granite at 255.40-323.40m is intriguing as primary rock textures are in parts completely obliterated. The chalcopyrite mineralised skarn contact of the feldspar porphyry apophysis at 58.30-58.62 (ca. 30m from surface) shows what the potential target mineralisation could look like within this environment. This drill hole is the best example of Skarn zonation within limestone that has so far been drilled in the Greater Falun project.
Wolf Mt South and the Creek showing - Technical Detail
The recently completed drilling campaign at Wolf Mt was designed to target the IP anomalies discovered through the expanded gradient IP survey undertaken in
At IPD drillhole VB20-08 intersected an easterly dipping stratigraphy of volcanic derived sediments (ash-siltsandstones), with moderate to strong sericite-silica-cordierite alteration with disseminated pyrite and trace chalcopyrite between 49.50-70.00m. The downhole intensifying alteration zone abruptly ends at 70m, where a dyke is emplaced between strongly altered and fresh volcanic sediments. Alicanto geologists currently interpret the dyke to have followed a potentially mineralization displacing fault zone. A follow up down hole EM survey is currently underway.
At IPB drillhole VB20-09 intersected alternating cordierite-silica and mica altered volcanic sediments with weak disseminated pyrite mineralisation from start down to 168.5m. Intense biotite-amphibole-garnet alteration occur in a zone between 168.5 to 176.60m with pyrrhotite-magnetite and traces of sphalerite mineralisation. The following sericite-silica alteration ends at 194.75m, where the rocks consist of much less altered planar-bedded volcanic sediments. Sericite-silica alteration again at 234m with an intense biotiteamphibole-garnet alteration zone at 248 to 252m mirrors the pattern earlier in the drillhole. The rest of the drillhole accordingly goes through cordierite-silica and mica altered volcanic sediments with weak disseminated pyrite mineralisation. Another intense altered biotite-amphibole-garnet zone occur at 300.7 to 304m. The intersected sequence is interpreted to constitute a synform with two altered limbs and a lowalteration core, dipping 50 degrees to the east. The intersected alteration in drillhole 7 and 9 together with previously drilled Wolf Mt is interpreted to constitute different parts of one larger alteration system. It seems IP has proven a good tracking tool that can trace the alteration system that is following stratigraphy as well as structures, over 2.5 km from North to South.
Recent outcrop mapping together with the intersected stratigraphy indicates that the stratigraphy in the area is dominated by planar bedded volcanic sediments with few intercalated limestone horizons. This is a similar setting to the Lustebo target 8 km to ENE where the Lustebo massive sulphide mineralisation occurs as replacement within a thin limestone unit (ASX
Exploration plan
Alicanto is currently undertaking field work and an initial 4,000m drilling program within the
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Forward Looking Statements
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors constitute, among others, continued funding, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as exploration strategies continue to be refined; renewal of mineral concessions; accidents, labour disputes, contract and agreement disputes, and other sovereign risks related to changes in government policy; changes in policy in application of mining code; risks associated with COVID-19 and political instability. The Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, however there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
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