Alicanto Minerals Ltd (ASX:AQI) has revealed high-grade, wide, zinc-dominant mineralised intersections above the current drilling target area at its Sala Silver-Lead-Zinc-Copper-Gold Project in Sweden, with lead and silver assays to boot.
The results are all within 150 metres of surface and include the highest zinc assays to date at Sala, including:
- 2.2 metres at 26.4% zinc and 0.3% lead;
- 13.6 metres at 7.0% zinc and 0.5% lead including 1.2 metres at 38.5% zinc and 2.4% lead; and
- 35.1 metres at 4.2% zinc, 0.5% lead including 8.9 metres at 85 g/t silver, 7.5% zinc and 1.3% lead.
Notably, these assays reveal a host of high-grade mineralisation directly above the area Alicanto is drilling on the Prince lode.
Moving forward, Alicanto is drilling the up-dip area between these results and the Prince lode area with three drills operating on site.
“Extensive high-grade mineralisation”
Alicanto managing director Peter George said: “The assays identified high-grade mineralisation immediately above the area currently being drilled by Alicanto.
“These results reveal extensive high-grade mineralisation at Prince from near the surface. We believe this mineralisation may link up with intersections down to at least 500 metres deep
“The results also show that high-grade mineralisation stretches a further 600 metres to the south near the surface.
“This knowledge will reduce our drilling costs and accelerate our program in this area."
Validation of historical data
Alicanto obtained the assays from 42 historical holes totalling 4,000 metres of drilling, which have been held in the archives of the Swedish Geological Survey.
Under Swedish law, drilling results obtained before 1992 are not publicly available unless released by the original owners of the data.
Along with the historical data, the drill core has also been located and recently relogged and sampled by Alicanto’s geologists.
Notably, this work has added significant value in understanding the geology of the shallow mineralisation but also confidence in the accuracy of the historical results when compared to the reassays using modern techniques.
Interpretation of results
Alicanto has received key information from the newly surfaced legacy drill hole data from 10 holes across 1,432 metres, situated in the upper portion of the Prince lode system and eastwards towards the granite contact.
All holes are shallow (max depth 176 metres) and highlight significant high-grade, wide, zinc-dominant mineralised intersections, which to date have not been part of the resource target area.
Results include both recently recovered historic data as well as resampling of previously unsampled mineralisation in historical drill core relogged by AQI geologists.
Importantly, the results have expanded the resource drilling target area to the east and towards the surface with current drilling aiming to integrate these results into the geological model with the previous drilling by the company.
Forward plan
Alicanto is drilling in the area between the historical assays and the Prince target with one hole extending the mineralisation by 600 metres to the south, highlighting the potential for further growth in this direction
A further 4,000 metres of core for the project has also been logged by Alicanto geologists and samples sent for assaying with results expected next month.
Notably, Alicanto is well-funded with $7.2 million in cash as of December 31, 2021.
George adds: “We are now drilling in the area between these assays and the Prince target area to confirm the continuity between the two.
“The combination of our drilling and these assays will underpin the maiden JORC resource, which we aim to complete in the coming quarter.”