Alicanto Reports $2.64M Cash, Advances Falun and Sala Exploration

Strategic Project Assessments Underway

Alicanto Minerals Ltd (ASX – AQI) has reported steady progress in its June 2025 quarterly activities, focusing on the dual strategy of evaluating potential acquisitions of copper, gold, and silver projects while advancing exploration preparations in Sweden. The company is applying a disciplined approach to project selection, aiming to leverage its exploration expertise to create substantial value from any new transactions.

This acquisition strategy mirrors the successful models employed by related ASX-listed entities sharing directors and shareholders with Alicanto, including FireFly Metals, Andean Silver, and Cygnus Metals. Such alignment suggests Alicanto is positioning itself to capitalize on proven geological and corporate capabilities.

Exploration Focus on Falun and Sala Projects

Alicanto’s flagship Falun Project encompasses a significant landholding in Sweden’s Bergslagen region, home to the historic Falun mine. This mine, which ceased operations in 1992, produced substantial quantities of copper, gold, zinc, lead, and silver over centuries. Alicanto’s recent technical reviews and initial drilling programs have identified compelling targets along a mineralised belt extending at least 10 kilometers beyond the historic mine, with promising copper and gold intercepts at key sites such as Albenius.

Parallel to Falun, the Sala Project offers a robust polymetallic resource with a JORC-compliant inferred resource of 9.7 million tonnes grading 214 grams per tonne silver equivalent, equating to 66 million ounces of silver equivalent. The project lies within a prolific silver-producing district, with historic mines nearby having yielded over 200 million ounces of silver at exceptionally high grades. Alicanto is preparing for a summer field program to identify new targets and plans to drill test high-grade silver structures north of the historic mine.

Corporate and Financial Updates

On the corporate front, Alicanto has seen a change in its company secretary, with Nicolle Fleming resigning and Maddison Cramer continuing as sole secretary. The company also transitioned its share registry services to Computershare Investor Services, enhancing shareholder engagement through a secure online portal.

Financially, Alicanto reported a cash balance of $2.64 million at the end of June 2025, down from $3.26 million in March. The company’s expenditures during the quarter primarily related to exploration activities in Sweden and corporate costs. Additionally, Alicanto issued approximately 5.5 million shares to directors under a placement, raising around $165,000 before costs, signaling ongoing efforts to support its exploration agenda.

Looking Ahead

Alicanto is actively engaging with potential strategic partners to advance exploration at its Swedish projects, aiming to unlock the significant mineral potential of Falun, Greater Falun, and Sala. The upcoming summer field season will be critical in generating new targets and refining the company’s exploration focus. Meanwhile, the company’s cautious but proactive approach to acquisitions and partnerships reflects a commitment to building shareholder value through disciplined growth in tier-one mining jurisdictions.