THE DRILL SERAGENT: Auteco Minerals (ASX: AUT) has picked up a large, highly strategic land holding along strike from the company’s one-million-ounce Pickle Crow gold project in Ontario, Canada.
By doing so, Auteco Minerals has increased its land position around the high-grade, tenure to more than 496 square kilometres.
This additional staking includes an additional 12km of the highly prospective Tarp Lake Shear Zone.
The increased land holding is subject to an earn-in agreement entered into with First Mining Gold Corp in March 2020, which has the option to allow some or all the increased land holding to form part of the earn-in and Joint Venture on the Pickle Crow gold project.
Auteco has also mobilised a fourth drilling rig to site to help expedite Resource growth, which the company said combines with the land acquisition to demonstrate the company’s commitment to the Pickle Crow project.
“The additional tenure is highly prospective given that it sits immediately along strike form the existing one-million-ounce Resource and is housed in the same greenstone belt,” Auteco Minerals executive chairman Ray Shorrocks said in the company’s ASX announcement.
“I’m also pleased to announce the addition of a fourth rig to further exploit this most prolific province and add to our recent drilling success.
“The combination of the new ground and the fourth rig shows Auteco is fully committed to growing the Pickle Crow Resource.”