THE DRILL SERGEANT: AuTECO Minerals (AUT: ASX) claimed the making of a high-grade gold discovery at the company’s Pickle Crow gold project in Canada.
AuTECO Minerals reported the Tyson discovery, saying the vein system consists of at least three persistent quartz-carbonate-scheelite-gold veins.
Mineralisation within the vein structures has been encountered over an interpreted strike of approx. 400 metres and at depths exceeding 800m below surface.
Recent drilling intersections include:
2.8 metres at 17.9 grams per tonne gold from 578.3m;
1m at 30.1g/t gold from 546m;
5.5m at 4.1g/t gold from 566.5m; and
1.1m at 10.4 g/t gold from 665.05m.
AuTECO stressed the Tyson veins are outside of the Inferred Resource the company had recently reported of 1.7 million ounces at 8.1 grams per tonne gold and demonstrate the potential to continue to grow the Resource with focused and systematic exploration.
“The discovery of another significant vein system demonstrates yet again the exceptional quality and the immense potential which still remains at Pickle Crow,” AuTECO Minerals executive chairman Ray Shorrocks said in the company’s ASX announcement.
“This discovery also provides more evidence of how under-explored Pickle Crow is and in particular, the lack of modern exploration conducted there.
“We will continue drilling at Tyson to extend the known mineralisation and also infill drill it with the aim of bringing it into the Resource.
“With a fifth rig arriving within the next month, we are on track to deliver the current 50,000 metres drill program on budget and on schedule.”
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