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AuTECO Minerals Encounters New Pickle Crow Gold Zone

THE DRILL SERGEANT: AuTECO Minerals (AUT: ASX) claimed the making of a high-grade gold discovery at the company’s Pickle Crow gold project in Canada.

AuTECO Minerals reported the Tyson discovery, saying the vein system consists of at least three persistent quartz-carbonate-scheelite-gold veins.

Mineralisation within the vein structures has been encountered over an interpreted strike of approx. 400 metres and at depths exceeding 800m below surface.

Recent drilling intersections include:

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2.8 metres at 17.9 grams per tonne gold from 578.3m;

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1m at 30.1g/t gold from 546m;

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5.5m at 4.1g/t gold from 566.5m; and

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1.1m at 10.4 g/t gold from 665.05m.

AuTECO stressed the Tyson veins are outside of the Inferred Resource the company had recently reported of 1.7 million ounces at 8.1 grams per tonne gold and demonstrate the potential to continue to grow the Resource with focused and systematic exploration.

“The discovery of another significant vein system demonstrates yet again the exceptional quality and the immense potential which still remains at Pickle Crow,” AuTECO Minerals executive chairman Ray Shorrocks said in the company’s ASX announcement.

“This discovery also provides more evidence of how under-explored Pickle Crow is and in particular, the lack of modern exploration conducted there.

“We will continue drilling at Tyson to extend the known mineralisation and also infill drill it with the aim of bringing it into the Resource.

“With a fifth rig arriving within the next month, we are on track to deliver the current 50,000 metres drill program on budget and on schedule.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@autecominerals.com

 

Web: www.autecominerals.com

 

Auteco Minerals Claims Shallow High-Grade Gold Discovery at Pickle Lake

THE DRILL SERGEANT: Auteco Minerals (ASX: AUT) claimed a new discovery – the Carey shallow high-grade gold discovery – at the company’s Pickle Crow gold project in Canada.

Auteco Minerals explained the Carey discovery was the first in a series of shallow exploration targets tested by Auteco, which the company said highlights the potential for open pit mining in addition to what was historically a narrow-vein underground operation at Pickle Crow.

Carey discovery intersections include:

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20.4 metres at 5.3g/t gold from 102.7m, including 2.2m at 39.3g/t (New Structural Zone);

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13.8m at 2g/t gold from 29.8m in (New Structure);

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16.5m at 2.2g/t gold from 160.6m in (New Structure);

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6.5m at 4.6g/t gold from 86.5m in (New Structure); and

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4.5m at 3.5g/t gold from 54.3m in (New Structure).

In addition to the Carey discovery, Auteco has also extended the known high-grade underground mineralisation in the Shaft 3 area, from which drilling results will help underpin a Resource update set to be completed next month.

The existing Pickle Crow Inferred Resource stands at 1 million ounces at 11.3g/t gold.

“The latest drilling program has been a huge success and we will further capitalise on this success with additional drilling,” Auteco Minerals executive chairman Ray Shorrocks said in the company’s ASX announcement.

“The high grades and the substantial widths of the new mineralisation highlight the potential for highly beneficial bulk mining methods to be used, either as wider stopes in an underground setting or as an open pit.

“We will now complete the Resource update in parallel with starting the new drilling program.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@autecominerals.com.au

 

Web: www.autecominerals.com.au

 

 

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:

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

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

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

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

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

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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:

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

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

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

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

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

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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.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@autecominerals.com.au

 

Web: www.autecominerals.com.au

 

AuTECO Minerals Revitalising Pickle Crow

THE CONFERENCE CALLER: Canada-focused AuTECO Minerals (ASX: AUT) wants to make one thing clear – it is not just revitalising an historic gold mine at its Pickle Crow gold brownfield project in Ontario, but is on the verge of establishing a major new gold camp. By Mark Fraser

The Perth-based company is now in the process of updating the project’s resource inventory and is looking to have new numbers in place sometime during the second quarter of 2021.

It plans, however, to also devote part of its current drilling campaign towards looking for further regional targets based on encouraging historical data.

The project, which sits 400 kilometres north of Thunder Bay in the Canadian province of Ontario, clocked up historic production of 3.1 million tonnes grading 16.1 grams per tonne for 1.05 million ounces between 1935-1966.

Although the company is encouraged by the drilling results coming from within the proverbial shadow of the headframe, regional assays have suggested there is more in the area than has previously met the eye.

During his appearance at the 20th RIU Explorers Conference in Fremantle, AuTECO chief operating office Darren Cooke said it was important to note that limited systematic exploration had taken place outside of the immediate Pickle Crow mine area which had revealed broad camp-scale mineralisation and compelling walk-up discovery targets.

Although previous work had shown structures parallel to the main Core Mine shear contained indications of significant gold mineralisation, limited follow-up activities were completed.

Some of these historical regional gold intercepts included 1.7 metres at 36.6 grams per tonne from 15.1m (Springer Shaft), 4.6m at 9.3 grams per tonne from 27.1m, (F Vein), 6.1m at 7.3 grams per tonne from 86.6m (SW Powerhouse) and 6m at 7.7 grams per tonne from 232m (East Pat Shear).

So far AuTECO has completed almost half (around 20,000m) of its 45,000m drill campaign and currently has four rigs on site. Cooke said it was now trying to procure a fifth one to up the field ante.

As it stands the company has already established a resource of 2.8 million tonnes at 11.3 grams per tonne for 1 million ounces.

Its tenure covers 496 square kilometres with 106 patented mining claims, with the regional exploration focus being on the Pickle Lake Greenstone Belt and Sioux Lookout.

Importantly, the project boasts on-site surface and below ground infrastructure including three main shafts, 38km of lateral development, a 225 tonne per day processing plant, a 24 person camp, a 600 kilowatt generator as well as a core processing facility.

In addition it is grid-connected to hydropower.

Cooke said he sometimes referred to Pickle Crow as the “Kundana of Canada” as the project contained numerous analogues to other stand-alone deposits that had been discovered on parallel trends – including the Kundana camp in WA, which has yielded over 9 million gold ounces.

Aside from the fact they are both the same deposit type (Archean orogenic vein), Kundana also has similar host rocks (a mafic sequence with interflow sediments proximal to conglomerates), structural architecture (a multi-phase history with sub parallel shear zones and Riedel shear geometrics) as well as similar mineralisation (both are high grade narrow vein low sulphide quartz-carbonate-scheelite veins with a predominantly steep dip).

Cooke also noted that Pickle Crow was second on a list of emerging tier-1 exploration properties in North America and Australia which have over 1 million ounces in resources, but no reserves.

The first is dual-listed international mining giant Barrick Gold Corporation’s (TSX: ABX; NYSE: GOLD) REN project in the US state of Nevada, which currently contains 1.65 million oz at a resource grade of 13.4 grams per tonne.

 

 

Auteco Minerals Secures New Pickle Crow Ground

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.”

 

 

Email: info@autecominerals.com.au

 

Web: www.autecominerals.com.au

 

Auteco Minerals Hits Mineralisation Outside Pickle Lake Resource

THE DRILL SERGEANT: Auteco Minerals (ASX: AUT) has scored strong drilling results outside the current Resource at the company’s Pickle Crow deposit in Ontario, Canada.

Auteco Minerals said the results pave the way for an increase in the current Independent JORC 2012 Inferred Resource at Pickle Crow of one million ounces at 11.3 grams per tonne gold.

The current phase of drilling has intersected extensions to known mineralised structures in addition to the discovery of previously undefined mineralisation, all of which are outside of the reported one million ounce Resource.

Results include:

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5.6m at 33.4 grams per tonne gold from 20.3m in hole (Shaft 3 Veins) – New Structure

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1.6m at 16.7g/t gold from 12.7m in hole (Shaft 3 Veins) – New Structure

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2m at 8.2g/t gold from 396.5m in hole (Shaft 1 Veins) – Extension of Structure

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4m at 5.9g/t gold from 420m in hold (Shaft 1 Veins) – Extension of Structure

“These latest results provide more evidence of the strong potential to grow the one million ounces Resource at Pickle Crow,” Auteco Minerals executive chairman Ray Shorrocks said in the company’s ASX announcement.

“This is supported by the definition of multiple new areas of high-grade quartz vein-hosted mineralisation with excellent geological continuity and multiple instances of visible gold.

“This is the same style of mineralisation from which the mine produced 1.5 million ounces at 16 grams per tonne gold historically.

“The width and high-grade of recently returned results, coupled with their shallow nature reinforces the numerous resource growth opportunities at the project.

“These results are supported by numerous high-grade historical drill intercepts outside of current resources which will help to fast-track the definition of the new areas towards resource classification.

“With three drill rigs currently operating and given the strength of the latest results, we remain on track to meet our intended Resource upgrade in the June quarter of 2021.”

 

 

Email: info@autecominerals.com.au

 

Web: www.autecominerals.com.au

 

Auteco Minerals Scores Outside Current Resource Boundary

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:

3-750-3-7-5
18.52 metres at 2.75 grams per tonne gold from 122.18m, including 1.38m at 21.02g/t gold from 131.94m;

744-3
1.52m at 12.34g/t gold from 91.44m; and

3-2-111
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:

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3.6m at 8.2g/t gold from 370m; and

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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:

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0.6m at 99.4g/t gold from 167.4m, including 0.3m at 181g/t gold from 167.4m;

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1.6m at 25.8g/t gold from 95m, including 0.6m at 65.2g/t gold from 95.7m; and

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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

 

Email: info@autecominerals.com.au

 

Web: www.autecominerals.com.au

 

Auteco Minerals Raises $30M For Pickle Crow Exploration

THE DRILL SERGEANT: Auteco Minerals (ASX: AUT) has raised approximately $30.4 million via the issue of approximately 225 million new fully paid ordinary shares in the company.

Auteco Minerals announced the funds would be funding ongoing exploration activities at the company’s Pickle Crow gold project, which recently received a maiden JORC 2012-compliant inferred resource of 830,000 ounces at 11.6 grams per tonne gold.

Auteco recently commenced drilling at Pickle Crow, with nine holes already drilled and assays pending analysis.

The placement will enable Auteco drill resource growth with a second diamond drill rig scheduled to arrive in July 2020 to test multiple walk-up targets.

Numerous high-grade targets have been identified for drilling, and Auteco is working towards a resource update that it intends to announce this calendar year.

“The significant support that we have received from the two offshore global resource specialist funds, along with support from our existing shareholders is extremely pleasing, and a significant endorsement of the progress that has been made at Pickle Crow and the enormous opportunity in the project,” Auteco Minerals executive chairman Ray Shorrocks said in the company’s announcement to the Australian Securities Exchange.

“Following our maiden Inferred Resource at Pickle Crow, we are very excited to accelerate our exploration program.

“We have identified numerous high-grade gold targets to test, and expect that we will be able to provide a resource update later this year.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@autecominerals.com.au

 

Web: www.autecominerals.com.au

 

Auteco Minerals Releases Maiden Pickle Crow Resource

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

 

Email: info@autecominerals.com.au

Web: www.autecominerals.com.au

 

Auteco Metals Drilling at Pickle Crow Gold Project

THE DRILL SERGEANT: Auteco Minerals (AUT.ASX) has commenced its first diamond drilling program at the company’s Pickle Crow gold project in Ontario, Canada.

Auteco Minerals indicated the program is to target shallow high-grade gold targets the company identified during recent technical work at the project.

The initial exploration program is to consist of 5,000 metres of diamond drilling and is the first systematic exploration conducted at the property in more than 50 years.

Auteco explained the drilling is designed to follow up on multiple high-grade, shallow gold targets within the top 300m that lie outside historically defined resource areas.

“This is an exciting time for the company as we commence the first systematic exploration on the project since the mine closed in 1966 after successfully producing 1.5 million ounces of gold at 16 grams per tonne gold,” Auteco Minerals executive chairman Ray Shorrocks said in the company’s announcement to the Australian Securities Exchange.

“Exploration activities are proceeding in line with 2020 field objectives with maiden drilling targeting high-grade, walk-up drill targets designed to bring new resource areas into JORC compliance.

“In addition, Auteco is working to deliver a maiden JORC 2012 compliant resource for the Pickle Crow mine area.

“This resource will be focussed on the high-grade underground mineable mineralisation at the Pickle Crow deposit that was the focus of profitable mining from 1935 to 1966.

“The Auteco technical team are active in the field, working to prioritise the multiple drill-ready, high-grade gold targets across the 320 square kilometres Pickle Crow gold project area through ongoing geological, structural and geophysical reviews during the current field season.”

 

Email: info@autecominerals.com.au

Web: www.autecominerals.com.au