Alicanto Minerals Ltd (ASX: AQI) has received strong drilling results which highlight the potential for high-grade silver and more Resource growth at its Sala silver-zinc project in Sweden.
The most recent drill programme at Sala has been focused on identifying more of the high-grade silver and zinc which drove the success of the original Sala mine which produced over 200Moz of silver at an average grade of 1,244g/t silver and up to 7,000g/t silver,” Managing Director, Rob Sennitt, said.
“These results continue to support our belief that we will be able to extend the current Resource. They also highlight the potential to enhance the Resource through the presence of high-grade silver which would ultimately create significant value for Alicanto shareholders.”
The current Inferred Mineral Resource Estimate (MRE) at Sala comprises 9.7Mt @ 4.5% Zn(Eq), containing 311,000t of zinc, 15Mozs of silver and 44,000t of lead (reported at the 2.5% Zn(Eq) cut-off).
A two hole diamond drill program,e completed to the southwest of the Prince Lode has identified a broad zone with moderate Sala style galena-silver mineralisation at the Finntorpet target. Although no high-grade mineralisation has been encountered in the first two holes, the results are significant in that they show the presence of Sala-style mineralisation in what has been interpreted as a significant and previously untested fault structure, the Hyttskogen Fault Zone.
The Sala Main Fault (historic production of 200Mozs @ up to 7,000g/t Ag)2 is interpreted as a splay originating from the Hyttskogen Fault. Drillhole SAL22- 38 intersected up to 1.3m @ 46g/t Ag, 0.6% Pb and 2.9m @ 42g/t Ag, 0.9% Pb, and SAL22-39 intersected up to 7.5m @ 31g/t Ag, 0.6% Pb; 5.6m @ 39g/t Ag, 1.3% Pb; 1.9m @ 65g/t Ag, 1.1% Pb; and 1.2m @ 87g/t Ag, 1.1% Zn from the Hyttskogen Fault zone.
The company believes that the presence of mineralisation in the first two drill holes in this extensive target is greatly encouraging and increases the potential of the Hyttskogen Fault zone to host significant mineralisation. Follow up geophysical downhole IP surveys have been completed and results are currently being processed.
Two diamond drillholes seeking to extend the current Resource in the southern extension of the Prince load, SAL23-40 and SAL23-41, have also intersected high grade galena-silver mineralisation. The intersections support previous interpretation of this area constituting the eastern limb of a F2 fold and extend the previously known mineralisation to the south of the current MRE.
Intersections from the recently completed holes include: 3.8m @ 259g/t Ag, 0.2% Zn, 8.6% Pb in SAL23-40, Including 0.5m @ 803g/t Ag and 28.6% Pb; and 1.6m @ 99g/t Ag, 0.0% Zn, 3.3% Pb in SAL23-41.