AuTECO Minerals (ASX: AUT) has reported ‘exceptional’ gold assays following regional diamond drilling operations at its Pickle Crow Project in Ontario, Canada.
The company notes that the results demonstrate ‘immense’ upside potential at the project, and provide additional support for its dual strategy of Resource growth in parallel with testing high-priority regional targets.
The results have also confirmed the existence of a previously undrilled mineralised Banded Iron Formation (BIF) at the Talia Prospect, which returned a standout result of 5.5m @ 18g/t Au from 44.9m downhole.
Additional key results from recent drilling include:
- Hole RVDD0017: 5.4m @ 2.6g/t Au from 94.4m
- Hole RVDD0026: 2.8m @ 4.3g/t Au from 60m
- Hole RVDD0051: 0.9m @ 14.7g/t Au from 262.6m
- Hole RVDD0059: 4.1m @ 3.4g/t Au from 226.3m
Speaking on the update, AuTECO Minerals Executive Chairman Ray Shorrocks said: “This exceptional result shows how our strategy to drill numerous similar regional targets over coming months stands to take Pickle Crow to the next level.
“We are now starting to uncover what we see as a significant mineral district”
We are now starting to uncover what we see as a significant mineral district, which will grow much further than the currently defined 2.2Moz Pickle Crow gold deposit.
AuTECO is fully funded to continue the exploration and growth campaign and we expect to complete another 50,000 metres of drilling by the early 2023.”
The newly-discovered mineralised BIF is located approximately 1km from the current defined Resource area, and indicates that mineralisation remains shallow and open in all directions, with further results pending.
In addition, regional targets that have been identified for follow-up drilling activities are all located within a 20km radius of the historic Pickle Crow mine centre, which has historically produced 1.5Moz @ 16.1g/t Au.
The Pickle Crow Project is located in Ontario, Canada, with AuTECO controlling approximately 500km² of tenure within the Pickle Lake District.
The Project currently boasts a 2.23Moz @ 7.8g/t Au Inferred Mineral Resource Estimate, and is considered to be one of Canada’s highest-grade gold mines.
Images: Auteco Minerals Limited