Auteco Minerals’ strong drilling results point to more growth at Pickle Crow

Auteco Minerals Ltd (ASX:AUT, OTC:MNXMF)’s latest drilling results have pointed to further growth of the 1.7-million-ounce resource at the Pickle Crow Gold Project in Canada. The company’s recent follow up drilling at the Carey discovery continued to confirm the geological model for the area, with an intersection of 9.8 metres at 3.1g/t gold returned from a vein array adjacent to the southern contact of the Albany Porphyry. In addition, drilling in the near-mine area continued to deliver high-grade results outside of the 1.7 million ounces resource. Notably, Auteco’s second stage expenditure requirement of the earn-in agreement with First Mining Gold has been satisfied, with Auteco to move to 70% equity ownership of the Pickle Crow Gold Project. “Results are very strong” Auteco executive chairman Ray Shorrocks said: “These results are very strong and pave the way for another increase in the resource by year-end. “The intersections at Carey are particularly significant because they sit between two areas of known mineralisation and Carey is excluded from the resource.  “With the 50,000-metre drilling program well underway, we look forward to further growth in the Resource and further growth in shareholder value.” Assay results Auteco has received final results for hole AUDD0141, with a broad mineralised zone of 36.7 metres at 1.5g/t gold from 150.8 metres, including a zone of 16.5 metres at 2.2g/t gold. Drilling continued to define new mineralisation outside the recently reported 1.7-million-ounce resource, pointing to continued resource growth with key intersections that include: 3.3 metres at 15.9g/t gold from 31.8 metres; 0.5 metres at 88.7g/t gold from 455 metres; and 0.5 metres at 3.6g/t gold from 126 metres. The company has further drilling underway, with additional drill results expected during this quarter. Three-staged approach Auteco has a strategic approach to provide continued organic growth and a pathway to production for the Pickle Crow deposit. The three-staged approach to work activities will continue to focus on exploration, preparing for a year-end resource estimate and completing activities that potentially demonstrate a pathway to production. Auteco started an additional 50,000-metre drill campaign in June 2021 with 7,990 metres of drilling for 35 diamond drill holes completed to date. Assay results have been partially received for nine holes, with assays yet to be received for a further 16 holes. The dual strategy of driving near-mine resource growth combined with early-stage exploration targeting will continue to be the focus of the program. Auteco’s near-mine resource drilling will contribute to a planned resource update at the end of 2021. Potential for bulk mining Drilling continued to focus on the Shaft 3 area, with follow up drilling on the structure discovered in drill hole AUDD0152. In addition, a narrow but high-grade extension was identified about 200 metres south of the discovery hole with drilling further defining this structure to continue during the quarter. These intersections demonstrate potential for the application of bulk mining methods. The results continue to confirm the geological model, with testing to continue during the current quarter.