The company believes Stone Lake has the key features required for intrusion-related, polymetallic skarn mineralisation
Alicanto Minerals Ltd has intersected semi-massive sulphide skarn mineralisation with visual chalcopyrite in the second hole drilled at Stone Lake target within the Greater Falun Copper-Gold Project in Sweden.
Assays returned 0.27 metres 5.92% copper and 4.6 parts per million (ppm) silver from 124.2 metres, as part of an interval grading 1.92% copper and 1.3 ppm silver over 0.92 metres.
This hole has also revealed the presence of native copper.
The company believes Stone Lake has the key features required for intrusion-related, polymetallic skarn mineralisation, which means it is entirely consistent with the geological model developed for Greater Falun.
Alicanto managing director Peter George said: This is a highly promising result. The intersected mineralisation, together with its textbook skarn alteration, strongly indicates that we have identified another intrusion-related copper skarn system, less than 10 kilometres away from the world-class Falun deposit.
The semi-massive character of the intersected copper-skarn system, some 80 metres beneath historic workings with similar mineralisation, in combination with the most intense, proximal and prograde skarn alteration so far encountered at Greater Falun highlights the potential for significant mineralisation nearby, he said.
The company’s shares gained nearly 7.7% intra-day to A$0.14 (US$0.11).
Alicanto has completed the drilling of two drill holes at Stone Lake prospect.
Both holes drilled to date have intersected an intensely skarn altered sequence of volcano-sedimentary rocks (hornfels) and interbedded limestones (marble massive skarn) in contact with a strongly deformed granitoid.
The combination of high-grade mineralisation and the significant alteration footprint underlines the area’s prospectivity for copper-gold skarn mineralised bodies.
Alicanto is undertaking follow-up geophysics, including ground magnetic surveys and down-hole EM, in a bid to identify nearby copper-gold and polymetallic skarn mineralisation.
The company is undertaking fieldwork and a fully-funded 20,000 metres drilling program within the Greater Falun Project and along strike from the historical Falun mine, which has produced 28 million tonnes at 4.0% copper, 4.0 g/t gold, 35 g/t silver, 5.0% zinc and 2.0% lead.