THE DRILL SERGEANT: Auteco Minerals (ASX: AUT) announced a maiden JORC 2012-compliant Inferred Resource for the company’s Pickle Crow gold project in Ontario, Canada.
Auteco Minerals declared the independently determined 830,000 ounces at 11.6 grams per tonne gold Resource estimate stems from a review of existing data at Pickle Crow, including previous non-JORC compliant resources.
“This maiden JORC Resource, which has been independently calculated, confirms Pickle Crow is a significant, high-grade deposit with immense growth potential,” Auteco Minerals executive chairman Ray Shorrocks said in the company’s announcement to the Australian Securities Exchange.
“The Resource validates the geological model of our technical team, which in turn supports their view about the scope for further resource growth.
“We are now undertaking the first systematic exploration program at Pickle Crow for 50 years.
“Our confidence in the project has been strengthened by the visual results from the first few drill holes and as a result, we have added a second drill rig and increased the program from 5,000 metres to at least 10,000 metres.”
Auteco considers there to be a reasonable prospect of Pickle Crow eventually being mined, citing the depth, width and grade of the deposit and the proximity of the high-grade resources to existing underground infrastructure and surface infrastructure, including highways and commercial hydro power lines.
“This is just the beginning of work at Pickle Crow,” Shorrocks continued.
“Our active exploration has three goals, firstly near-term resources growth focused on adding geological confidence to already identified areas of mineralisation that can be brought into the resource inventory.
“Secondly, extensions to the current known resources which remain open in both along strike and down dip.
“Finally, new discovery through step out exploration, with numerous high priority targets identified outside the Core Trend.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE