AuTECO Minerals (ASX: AUT) has reported ‘outstanding’ results from exploration drilling at its Pickle Crow Gold Project in Ontario, Canada leading up to an expected resource update in February.
Drilling targeted high-grade veins outside of the existing resource in the Shaft 1 and Shaft 3 areas, with significant intersections including:
- Hole AUDD0246: 7.3m @ 33.3 g/t Au from 9.4m
- Hole AUDD0227: 1.5m @ 35.2 g/t Au from 541.5m
- Hole AUDD0240: 4.0m @ 11.0 g/t Au from 205.8m
- Hole AUDD0218: 4.0m @ 6.5 g/t Au from 333.0m
- Hole AUDD0223: 3.2m @ 3.4 g/t Au from 103.2m
- Hole AUDD0227: 0.8m @ 13.9 g/t Au from 529.7m
Ongoing exploration targeting banded-iron-formation (BIF) mineralisation near Shaft 1 returned a further notable intersection:
- Hole AUDD0205: 6.0m @ 5.8 g/t Au from 423m
Further drilling targeting BIF mineralisation approximately 500m south-west of Shaft 1 within the project’s F Zone target delivered:
- Hole AUDD0228: 25.2m @ 1.3 g/t gold from 166m
- Hole AUDD0225: 11.8m @ 1.6 g/t gold from 130.3m
The company notes that the results point to a ‘significant’ increase in the 1.7Moz resource, with extensions to known mineralisation in high-grade veins as well as in areas that may be suitable for bulk mining.
Speaking on the results, AuTECO Executive Chairman 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 1.7Moz Resource, which shows the size of the geological system.
“These latest results contain mineralisation well outside the current 1.7Moz 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”.
The drilling forms part of a 50,000m program that is being undertaken by AuTECO following an earlier successful 45,000m campaign that resulted in a 71% increase in the project’s inferred resource. To date, 80 holes have been completed for 36,440m.
Map displaying recent significant intersections within the core mine shear in the Shaft 1 and Shaft 3 areasA resource update planned for February 2022 will include results through to 31 December 2021, with work on interpretation and estimation currently underway.
Five diamond rigs continue work at Pickle Crow, working on a dual approach of extensional in-mine resource growth along with targeting mineralisation at regional targets external to historic mining areas.
Results from this campaign are expected in Q2 2022.
Images: AuTECO Minerals Ltd
