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Alicanto Minerals IP survey identifies four new copper-gold anomalies at Greater Falun

Last updated: 12:36 12 Oct 2020 AEDT, First published: 12:25 12 Oct 2020 AEDT

Alicanto Minerals - Alicanto Minerals IP survey identifies four new copper-gold anomalies at Greater Falun
Chalcopyrite-quartz-garnet-amphibole breccia rock chip grading 11.9% copper from the Wolf Mountain area

Alicanto Minerals Ltd (ASX:AQI) has enhanced the potential of its Greater Falun Project in Sweden with four new copper-gold anomalies identified immediately adjacent to existing mineralisation.

The expanded IP survey covering 3 square kilometres identified new copper-gold anomalies at Wolf Mountain, which is one of several prospects at Greater Falun which will be drilled as part of the program that is underway.

"Intriguing" magnetic signatures

Alicanto managing director Peter George said: “These new anomalies are highly significant because not only are they strong signatures but they are located right next to known copper-gold mineralisation.

“The IP anomalies and magnetic signatures uncovered at Wolf Mountain are intriguing because they suggest the system could be very large (at least 5 kilometres).”

“Impressive picture forming”

George said: “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.”

Wolf Mountain IP Survey area map showing location of recently identified IP anomalies.

Expanded IP survey

IP survey results expand on the successful, earlier IP survey (0.3 square kilometres) at Wolf Mountain which led to the maiden drilling program that resulted in the discovery of distal copper-gold skarn with grades of up to 2.1% copper, 69 g/t silver and 1.3% zinc and grab samples at surface of 11.9% copper and 2.9 g/t gold hosted within a 100 metres strongly altered zone.

The new IP anomalies are between 500 metres and 1.8 kilometres from these earlier intersections and the company believes that those intersections may be the outer fringes of a large mineralised system with a higher-grade core.

Causative intrusion

A large airborne magnetic signature has also been uncovered 2.5 kilometres SSW of the most southern of the four IP targets (IPD).

Alicanto geologists have interpreted this as a causative intrusion complete with copper-gold mineralisation as established in historical shallow drilling, which could be part of the same copper-gold skarn system intersected in the initial drilling at Wolf Mountain - increasing the potential strike length of the copper-gold system to over 5 kilometres.

Exploration plan

Alicanto is undertaking fieldwork and a 4,000-metre drilling program starting at the Green Mile Target within the Greater Falun Project and along strike from the historical Falun mine, which produced 28 million tonnes at 4.0% copper, 4.0 g/t gold, 35 g/t silver, 5.0% zinc and 2.0% lead.

Drilling is planned to be completed by the end of 2020 and the company now plans to test the four new anomalies and the magnetic signature as part of this campaign.

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