THE DRILL SERGEANT: Auteco Minerals (ASX: AUT) announced drilling results from the company’s Pickle Crow project in Ontario, Canada.
Auteco Minerals claimed the latest drilling at Pickle Crow demonstrated the potential to increase the existing JORC 2012 Inferred Resource of 1 million ounces at 11.3 grams per tonne gold with reconnaissance drilling defining multiple new extensive mineralised envelopes in several areas outside the current Resource.
Multiple new lodes were discovered in Vein 13 drill area outside the existing resource including:
18.52 metres at 2.75 grams per tonne gold from 122.18m, including 1.38m at 21.02g/t gold from 131.94m;
1.52m at 12.34g/t gold from 91.44m; and
1.52m at 17.28g/t gold from 6.41m. (no selvedge sampling)
The first two holes drilled into Vein 5 SW extension defined a target area of 200m by 200m returning results of:
3.6m at 8.2g/t gold from 370m; and
2m at 3.8g/t gold from 138.45m.
The drilling also extended the previously reported Vein 5 Lode Extension, which is now defined over 300m by 350m with visible gold in multiple drill holes, with results including:
0.6m at 99.4g/t gold from 167.4m, including 0.3m at 181g/t gold from 167.4m;
1.6m at 25.8g/t gold from 95m, including 0.6m at 65.2g/t gold from 95.7m; and
1.6m at 19.6g/t gold from 372m.
“The definition of multiple new areas of quartz vein-hosted mineralisation with excellent geological continuity and multiple instances of visible gold provides more evidence of the vast potential of Pickle Crow,” Auteco Minerals executive chairman Ray Shorrocks said in the company’s ASX announcement.
“This is the same style of mineralisation from which the mine produced 1.5 million ounces at 16 grams per tonne historically.
“At the current drill spacing, the defined mineralised envelopes are analogous to existing high-grade resources, giving us confidence that infill drilling will constrain the high-grade gold shoots within the envelopes and bring the defined areas into the Inferred Resource category.
“This ongoing success supports Auteco’s investment assumption that historical exploration activity at the Pickle Crow Gold Mine had been constrained by prevailing geological assumptions that were open to challenge through an open-minded approach to old datasets and a return to first principal geological techniques.
“And given the strength of the latest results, we remain on track to meet our intended Resource upgrade in the first half of 2021.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE