Auteco Minerals Hits Mineralisation Outside Pickle Lake Resource

THE DRILL SERGEANT: Auteco Minerals (ASX: AUT) has scored strong drilling results outside the current Resource at the company’s Pickle Crow deposit in Ontario, Canada.

Auteco Minerals said the results pave the way for an increase in the current Independent JORC 2012 Inferred Resource at Pickle Crow of one million ounces at 11.3 grams per tonne gold.

The current phase of drilling has intersected extensions to known mineralised structures in addition to the discovery of previously undefined mineralisation, all of which are outside of the reported one million ounce Resource.

Results include:

5.6m at 33.4 grams per tonne gold from 20.3m in hole (Shaft 3 Veins) – New Structure

1.6m at 16.7g/t gold from 12.7m in hole (Shaft 3 Veins) – New Structure

2m at 8.2g/t gold from 396.5m in hole (Shaft 1 Veins) – Extension of Structure

4m at 5.9g/t gold from 420m in hold (Shaft 1 Veins) – Extension of Structure

“These latest results provide more evidence of the strong potential to grow the one million ounces Resource at Pickle Crow,” Auteco Minerals executive chairman Ray Shorrocks said in the company’s ASX announcement.

“This is supported by the definition of multiple new areas of high-grade quartz vein-hosted mineralisation with excellent geological continuity and multiple instances of visible gold.

“This is the same style of mineralisation from which the mine produced 1.5 million ounces at 16 grams per tonne gold historically.

“The width and high-grade of recently returned results, coupled with their shallow nature reinforces the numerous resource growth opportunities at the project.

“These results are supported by numerous high-grade historical drill intercepts outside of current resources which will help to fast-track the definition of the new areas towards resource classification.

“With three drill rigs currently operating and given the strength of the latest results, we remain on track to meet our intended Resource upgrade in the June quarter of 2021.”