AuTECO Minerals hits 35 g/t gold at Pickle Crow Project, paving path to ‘significant’ resource update

AuTECO Minerals Ltd has intersected high-grade gold in extensional and explorational drilling targeting gold outside the measured resource of the Pickle Crow Gold Project in Canada, underlining the potential to add material increases to the 1.7-million-ounce JORC resource.

Drilling targeting high-grade veins outside the measured resource in the Shaft 1 and Shaft 3 areas continue to return notable results, including:

• 7.3 metres at 33.3 g/t gold from 9.4 metres;
• 1.5 metres at 35.2 g/t from 541.5 metres;
• 4.0 metres at 11.0 g/t from 205.8 metres;
• 4.0 metres at 6.5 g/t from 333.0 metres;
• 3.2 metres at 3.4 g/t from 103.2 metres; and
• 0.8 metres at 13.9 g/t from 529.7 metres.

“World-class quality”

AuTECO executive chair Ray Shorrocks said: “The more we drill, the more gold we find. This outstanding success rate reflects the world-class quality of the Pickle Crow mineralised system.

“These latest results contain mineralisation well outside the current 1.7-million-ounce resource, which shows the size of the geological system.

“In addition, the promising results in the alteration-hosted mineralisation continue to validate our concept of establishing higher and lower-grade areas which can be mined using different methods but would take advantage of the same access infrastructure.

“AuTECO remains fully funded to continue the exploration and growth campaign.”

Exploration drilling is ongoing, targeting Banded Iron Formation (BIF) hosted mineralisation near Shaft 1, and so far returning up to 6.0 metres at 5.8 g/t gold from 423 metres.

Some 500 metres to the southwest of the same area, the F Zone target has demonstrated strike potential, with the first holes returning intersections of:

• 25.2 metres at 1.3 g/t gold from 166 metres; and
• 11.8 metres at 1.6 g/t from 130.3 metres.

All reported intersections have been returned from outside the current inferred resource of 1.7 million ounces at 8.1 g/t and will contribute to an updated resource estimate on track for release in February this year.

Five diamond drill rigs are already drilling at Pickle Crow, having commenced targeting of regional areas outside the main historic mine.

First results are expected early in the June quarter.

About AuTECO Minerals

AuTECO Minerals is an emerging mineral exploration company focused on advancing high-grade gold resources at the Pickle Crow Gold Project in the world-class Uchi sub province of Ontario, Canada.

The Pickle Crow Gold Project hosts a JORC 2012 mineral resource of 1.7 million ounces at 8.1 g/t gold, with a 50,000-metre drilling program underway to expedite resource growth.

Pickle Crow is one of Canada’s highest-grade gold mines – historically producing 1.5 million ounces at 16 g/t gold.

The company also has a joint venture on the Limestone Well Vanadium-Titanium Project in Western Australia.

Story by ProactiveInvestors