AuTECO Minerals Ltd (ASX: AUT) has obtained “exceptional” drill results of up to 1,020g/t at its Pickle Crow gold project in Ontario, Canada. These results will form part of the Resource update set for the March quarter of next year.
The company says the results are considered particularly important because they are outside the existing Inferred Resource and therefore demonstrate the opportunity to continue growing the Resource.
The high-grade Tyson vein system, which was initially identified by AuTECO in October 2021, is expected to be included in the Resource for the first time.
A 50,000-metre drill campaign is in progress and anticipated to conclude in early 2023. AuTECO intends to continue the dual focus on both in-mine Resource expansion at Pickle Crow and regional discovery that will provide the next generation of Resource growth for the company.
“The recent Tyson results continue to demonstrate that we are onto a significant new mineralised system that has not been historically mined,” CEO, Darren Cooke, said.
“Not only have we extended the known depth of the vein system by more than 200 vertical metres, but the intersection of 1,020g/t gold is the highest-grade intersection drilled by AuTECO to date.
“The Tyson result is reminiscent of the intersections at Northern Star’s Jundee mine.
“AuTECO is well funded to continue the exploration and growth campaign with two rigs planned to drill for the remainder of 2022”.
AuTECO manages ~500 sq. km of tenure in the Pickle Lake district. The company continues to pursue a dual track strategy of advancing both the near-mine Resource growth and regional exploration concurrently.
Drilling has continued to focus on Resource growth potential in the historic Shaft 1 (Vein 5) and Shaft 3 areas (Tyson) of Pickle Crow.
The company intends to continue with a dual-tracked approach to drilling for the remainder of 2022, with a combination of extensional in-mine Resource growth drilling and regional exploration. AuTECO is in the midst of 50,000m drill campaign, of which ~20,000m is planned for early stage targets outside of the current 2.23Moz Resource.
As site accessibility improves in winter, the exploration focus from November 2022 through March 2023 will shift to regional exploration in addition to near mine targets that are inaccessable during summer, such as Tyson.
An updated Resource estimate remains on track for delivery in early 2023.
For further information please visit: https://www.autecominerals.com/