Alicanto Minerals Ltd (ASX: AQI) (“Alicanto” or “the Company”) is pleased to provide an exploration update for its 100%-owned Wolf Mountain Project, within the highly endowed Cu-Au-Zn-Ag-Pb Bergslagen Mining District of Southern Sweden.
Highlights Include:
Second diamond core drill hole (DH 20-02) of Alicanto’s maiden multi-hole drill programme at Wolf Mountain has intersected 24 metres (true width) of strong alteration with Chalcopyrite mineralisation, including ~4m (true width) of intense chalcopyrite mineralisation (refer Figure 1).
Coupled with the first diamond core drill hole (ASX 18/02/2020) which intersected at least 60m of disseminated sulphides (31m true width), this defines a zone of at least 55m (true width) of Chalcopyrite mineralisation that aligns with historical (est. 1700s) surface workings (refer Figure 2).
Drilling is targeting a large-scale, copper-gold target which has returned up to 11.9% copper and 2.9 g/t gold in rock chips from surface (ASX 1/05/19 & 28/08/19).
Alicanto has mobilised the drill rig back to the first hole that ended in mineralisation to extend the mineralised interval (refer Figure 1 below).
This maiden multi-hole drill programme is targeting:
Multiple new, large-scale, undrilled copper-gold anomalies identified in recent Induced Polarisation (IP) survey (ASX 3/12/19).
Coincident with the IP anomalies are surface rock-chip results of up to 11.9% copper and 2.9 g/t gold (ASX 14/11/19), across four separate mapped mineralised trends over 1km strike. These are completely open and have never been drill tested.
Alicanto has also identified multiple IP anomalies under shallow cover and remain unsampled and undrilled.
IP surveying covers only 260m of strike on regional scale alteration and structures identified and mapped by Alicanto geologists over >14km considered highly prospective for both high-grade and bulk tonnage copper-gold mineralisation.
