Oxberg VMS Project

The Oxberg VMS (Volcanogenic Massive Sulphide) Project is located within the highly endowed Zn-Pb-Ag-Cu-Au Bergslagen Mining District of Southern Sweden. It is located in close proximity to several world-class producing mines:

  • Garpenberg (Boliden) - 168Mt@ 3.4% Zn, 1.6% Pb, 98g/t Ag, 0.3 g/t Au
  • Zinkgruvan (Lundin Mining) - >50Mt @ 8% Zn, 3.5% Pb, 70g/t Ag
  • Falun (Zetterqvist) (closed) - Produced 500kt Zn @ 5% Zn, 400kt Cu @ 0.6 to 4% Cu, 160kt Pb @ 2% Pb, 380t Ag @ 13 to 35g/t Ag and 5t of Au @ 0.5 to 4g/t Au over a millennium, ceased production in 1992

Key highlights of Oxberg include:

  • Undrilled targets with rock chips to 9.4% Zn, 11.9% Cu, 5.4% Pb & 16g/t Ag
  • Advanced drill-ready targets
  • Limited historical drilling with results to:
    o 2.8m @ 4.7% Zn, 2.2% Pb and 89g/t Ag
    o 3.4m @ 2.5% Zn, 1%Pb and 11g/t Ag
    o Untested down hole EM anomalies

The Oxberg Project is located within the prolific Bergslagen Mining District of southern Sweden, host to the world class Garpenberg (operated by Boliden 168.5Mt @ 3.4% Zn, 1.6% Pb, 0.3 g/t Au and 98g/t Ag) and Zinkgruvan (operated by Lundin, 46.9Mt @ 9.0% Zn, 2.0% Cu, 3.6% Pb, 78.7g/t Ag) deposits. 

Oxberg-Naverberg Project Locations and key regional deposits, southern Sweden.

The Oxberg project lies within the same geological setting 15km to the north-west. The tenements are logistically well serviced by the town of Falun and existing infrastructure.

Project Geology

The tenements occupy a portion of the northern parts of the Bergslagen Volcanic belt within the Fennoscandian shield. Paleoproterozoic belts of dominantly rhyolitic metavolcanic and metasedimentary rocks enclosed by synvolcanic granitoid intrusions. More than 6,000 mineral deposits and prospects are known within the region with most are hosted by marble units within the succession. The tenements cover more than 45km of strike on this prospective marble horizon, with coincident large-scale hydrothermal alteration, similar to that seen at the major deposits in the region.

The Oxberg tenements are interpreted to overlie the stratigraphically repeated stratigraphy from Falun, folded around a large-scale anticline.

World class strata-bound Zn-Pb-Ag (Cu-Au) and stratiform Zn-Pb-Ag-(Cu) massive sulphide deposits are the dominant economic mineralisation style within the district.

Exploration Opportunity

Located within 15km of the Naverberg project areas, the Oxberg project represents an underexplored, folded repeat of the prospective Falun stratigraphy. Large-scale hydrothermal alteration, similar to that found at significant deposits in the region has been identified as well as multiple untested mineral occurrences with multiple rock chip samples up to 9.4% Zn, 11.9% Cu and 16g/t Ag collected within the project area. Further deposits have been discovered locally within the mineralised trend (outside of Alicanto tenure) by previous explorers.

Oxberg Target summary, plan map showing extent of regional alteration, the morphology of the undrilled target horizon and the status of region exploration.

Alicanto geologists have identified an immediate, walk-up drill target, Target 46 in the southwest of the property. Historical drilling intersected:

  • 4m @ 2.49% Zn, 1% Pb and 11g/t Ag in OX-44
  • 8m @ 4.7% Zn, 2.2% Pb and 89g/t Ag in OX-46

Significantly, down-hole electromagnetic surveying of hole OX-49 also indicates a significant off-hole conductor at depth below significant drill intervals. If this conductor is connected to significant drill intervals, there is sufficient scope for a significant orebody to be found in the drill area.

Exploration Plan

Alicanto intends to explore the Oxberg Project Area in the next 12 months and plans to undertake data compilation, field mapping, and surface geochemical sampling ahead of proposed drilling in the second half of the year.

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