Australian mineral exploration company Alicanto Minerals has secured 100% tenure covering the Sala silver project in Bergslagen, Sweden.
The Sala silver project, which was claimed to be one of the largest and highest grade silver mines in Europe, is 100km away from the company’s Greater Falun copper-gold project.
Prior to ceasing mining in 1962, the Sala mine had yielded over 200Moz of silver at an estimated average grade of 1,244 g/t.
Based on results of the four holes drilled in 2012, Alicanto said that mineralisation at the Sala mine remains open at depth and along strike.
Following drilling, the holes encountered high-grade mineralisation, which included 0.67m at 844 g/t silver and 16.3% lead at 250m below surface.
The company said that further drilling at the Prince lode target, which is located 300m to the South West of the Sala silver project, had shown a very promising high-grade mineralisation. This includes 37.2m @ 50 g/t silver and 6.1% zinc.
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Drilling at the Sala project is slated to commence by the firm upon securing drilling permits.
Alicanto, meanwhile, plans to start an expanded and fully funded drilling programme at the Greater Falun Project in this month.
The drilling programme will target multiple high-priority target areas with known copper-gold and polymetallic skarn mineralisation.
Alicanto Minerals managing director Peter George said: “The presence of extensive high-grade copper-gold mineralisation with by-products of silver, zinc and lead at Falun has been well-established through both mining and exploration.
“However, the full potential in the Greater Falun area has yet to be unlocked.
“To now have Sala in our suite of projects is a significant addition to our portfolio within the Bergslagen area.”