Auteco Minerals Hits New Gold Mineralisation on Road to Resource Upgrade

THE DRILL SERGEANT: Auteco Minerals (ASX: AUT) continued its march towards growing the one million ounces Inferred Resource at the company’s Pickle Crow gold project in Canada.

Auteco Minerals reported further strong drilling results from the project, from which it has claimed discovery of more high-grade mineralisation.

Auteco is well into a 45,000m drill program charged with the key objectives of:

Extending and discovering mineralised vein structures proximal to historic workings and outside of the current Inferred Resource (1Moz at a grade of 11.3g/t gold);

Infill drilling of newly extended or discovered vein structures, with the aim of delivering an updated mineral Resource estimate around 30 June 2021; and

First pass testing of regional drill targets away from the main Pickle Crow deposit.

Recent drilling has identified more high-grade gold veins in a new structure, which will form part of the new Resource estimate.

The intersections in these new veins, which are in the Shaft 3 area, include:

0.3 metres at 315.4 grams per tonne gold from 41.7m;

1m at 34.9g/t gold from 191.2m;

1.2m at 29.7g/t gold from 249.7m in hole;

2.3m at 7.8g/t gold from 39.8m in hole;

0.5m at 33.7g/t gold from 302.2m in hole; and

4.0m at 3.6g/t gold from 432m in hole.

Step-out drilling carried out in the Shaft 3 area extended the known mineralised vein structures, returning results of:

0.6m at 313g/t gold from 338.8m; (~20m extension to known vein)

5m at 9.5g/t gold from 46.2m; (~120m extension to known vein)

1.5m at 19.3g/t gold from 250.5m; (~20m extension to known vein)

1.6m at 6.1g/t gold from 168.5m; (~80m extension to known vein)

1.2m at 11.9g/t gold from 382.1m; and (~160m extension to known vein)

1.2m at 8g/t gold from 459.6m. (~70m extension to known vein)

“These results show that our strategy to grow the one million ounces Inferred Resource is on track,” Auteco Minerals executive chairman Ray Shorrocks said in the company’s ASX announcement.

“We are discovering new high-grade veins and extending the known size of those we found earlier.

“These results will form part of the Resource update set for completion in this quarter.

“As part of our growth strategy, we are now putting a strong emphasis on drilling within areas of known high-grade mineralisation to bring them into the Resource model.

“These areas are exciting because we have already established the presence of high-grade mineralisation and we just need to confirm its continuity in order to include it in the Resource.”