AuTECO Minerals Increases Pickle Crow Resources
THE DRILL SERGEANT: AuTECO Minerals (AUT: ASX) greeted 2022 RIU Explorers Conference punters with news of a 30 per cent increase in the Inferred Mineral Resource estimate (MRE) at the company’s Pickle Crow project in Canada.
AuTECO Minerals reported the MRE had increased to 2.23 million ounces at a grade of 7.8 grams per tonne gold.
This estimate comprises a high-grade quartz vein component of 1.92 million ounces at 9.3g/t and a broader near-surface alteration/banded iron hosted mineralisation style that contains 304,000 ounces at a grade of 3.8g/t.
“Pickle Crow has joined an exclusive club of global gold companies with a resource base of more than two million ounces in a tier-one location,” AuTECO Minerals executive chairman Ray Shorrocks said in the company’s ASX announcement.
“It speaks volumes about the quality of the Pickle Crow system that we added more than half-a-million ounces to the resource in just six months and at a cost of less than $20 per ounce.
“This means we have created substantial value for shareholders and also demonstrates the immense potential for ongoing increases in the inventory.”
AuTECO is now ramping up drilling to test some of the early-stage regional targets on the tenure managed by the company in the Pickle Lake district.
Three drill rigs are currently engaged on early-stage regional programs, with results expected in the June quarter.
Email: info@autecominerals.com