Alicanto Minerals Ltd (ASX:AQI) welcomes further strong high-grade assays as it gathers final data for its impending maiden JORC mineral resource estimate (MRE) at the Sala Silver-Lead-Zinc-(Copper-Gold) Project in Sweden.
The company believes the results of up to 2.8 metres at 12.7% zinc – the final batch of assays to be included in the resource estimate – deliver more strong evidence of the project’s high grades and significant scale.
Alicanto has completed a total of 28 diamond holes for 18,482 metres of drilling to date.
Highlights from final assays
Massive sulphide was intersected in this batch, including:
- 2.8 metres at 12.7% zinc and 22 g/t silver;
- 2.5 metres at 1.6% zinc, 173 g/t silver and 2.8% lead; and
- 4.1 metres at 4.5% zinc and 14 g/t silver.
Drilling at the northwest extension of Sala intersected
- 3.8 metres at 653 g/t silver, 0.3% zinc and 2.6% lead; and
- 1.9 metres at 164 g/t silver, 0.6% zinc and 2.3% lead.
"Immense potential"
“These grades are exceptional and entirely consistent with the grades which established Sala as a world-class asset in its previous life,” managing director Peter George said.
“The results also extend the known mineralisation along strike at Prince and establish the presence of high-grade mineralisation in the gap between the Sala and Prince lodes.
“As well as helping to further strengthen the upcoming resource, these intersections demonstrate the immense potential for ongoing growth. We have two rigs continuing to drill as part of that growth strategy.”
Strike extended across large system
Importantly, the results extend the known high-grade mineralisation in the gap between Sala and Prince lodes, which are now interpreted to be one large system. The Prince lode now extends for 750 metres along strike to a depth of 600 metres.
The resource estimate, which is being calculated by leading independent consultants Cube, is scheduled for completion next month and will include this final data.
Well-funded to continue
Two drill rigs continue Alicanto’s work at Sala, with the aim of increasing the footprint of the resource.
The company is well-funded to progress these activities with A$6.1 million cash in the war chest as at March 31.
History of Sala
In February 2021, Alicanto secured 100% tenure covering the historic Sala and Bronas silver mine in Bergslagen, Sweden.
Production in the region was last undertaken at the Bronäs mine, 400 metres from Sala, in 1962, by which time more than 200 million ounces of silver had been produced at grades of up to 7,000 g/t as well as 35,000 tonnes of lead.
Alicanto is conducting the first systematic diamond drilling at the property since the mine closed.