THE DRILL SERGEANT: Auteco Minerals (ASX: AUT) claimed a new discovery – the Carey shallow high-grade gold discovery – at the company’s Pickle Crow gold project in Canada.
Auteco Minerals explained the Carey discovery was the first in a series of shallow exploration targets tested by Auteco, which the company said highlights the potential for open pit mining in addition to what was historically a narrow-vein underground operation at Pickle Crow.
Carey discovery intersections include:
20.4 metres at 5.3g/t gold from 102.7m, including 2.2m at 39.3g/t (New Structural Zone);
13.8m at 2g/t gold from 29.8m in (New Structure);
16.5m at 2.2g/t gold from 160.6m in (New Structure);
6.5m at 4.6g/t gold from 86.5m in (New Structure); and
4.5m at 3.5g/t gold from 54.3m in (New Structure).
In addition to the Carey discovery, Auteco has also extended the known high-grade underground mineralisation in the Shaft 3 area, from which drilling results will help underpin a Resource update set to be completed next month.
The existing Pickle Crow Inferred Resource stands at 1 million ounces at 11.3g/t gold.
“The latest drilling program has been a huge success and we will further capitalise on this success with additional drilling,” Auteco Minerals executive chairman Ray Shorrocks said in the company’s ASX announcement.
“The high grades and the substantial widths of the new mineralisation highlight the potential for highly beneficial bulk mining methods to be used, either as wider stopes in an underground setting or as an open pit.
“We will now complete the Resource update in parallel with starting the new drilling program.”
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