AuTECO Minerals Ltd (ASX:AUT) has unveiled a significant 530,000oz increase in the Inferred Mineral Resource Estimate (MRE) at its Pickle Crow Gold Project in Canada, with the total now standing at 2.8Moz at 7.2g/t gold.
The majority of the Inferred Resource is comprised of high-grade quartz vein-hosted mineralization totalling 2.1Moz at 9.8g/t gold. A further 510koz at 3.8g/t gold is contained within broader near- surface mineralization potentially amenable to bulk mining methods.
Over one Moz has been delineated in the top 250m from surface, above a 0.5g/t cut-off.
A significant quantity of drill intersections outside of the Resource have been identified representing a significant exploration opportunity for further Resource growth in the top 250m, paving the way for Open Pit mining investigations to unlock value for the project.
Furthermore, the update contains a maiden Resource for near mine satellite deposits drilled on structures parallel to the main mine trend. A near-surface Resource of 133koz @4.1g/t has been estimated for the East Pat – Cohen MacArthur areas and remains open in all directions.
The MRE was prepared in accordance with the JORC Code (2012 Edition) by independent mining consultants Cube Consulting Pty Ltd.
The highly successful 50,000m drilling campaign has concluded with numerous recent high- grade gold intersections of up to 92.1g/t returned outside of the updated Resource, demonstrating the immense potential for future growth.
CEO, Darren Cooke, said the company will continue its strategy of defining high-grade gold near the ‘headframe’ and across its district-scale and underexplored landholding, with a current focus on unlocking the vast regional exploration potential of the 500sqkm of tenure in the Northern Pickle Lake greenstone belt. An extensive field mapping and sampling campaign will be conducted during the summer field season, followed by drill testing on new discoveries.
Mr Cooke said that not only will the company focus on cost effective value creation through exploration and the drill bit but it will also investigate the significant endowment of near surface gold mineralization recently delineated as well as ways to leverage the existing significant underground infrastructure in order to access its high-grade gold resources.
“This significant increase in the Resource confirms Pickle Crow as one of the best undeveloped high-grade gold Resources,” he said.
“There are very few 2.8Moz Resources at a grade of 7.2g/t gold globally, let alone in a Tier-One jurisdiction with the kind of upside we see at Pickle Crow, both near mine and regionally.
“The rate at which we’ve grown the Resource by investing in the drill bit and quality geology is impressive, having gone from our maiden Resource of 800,000oz to 2.8Moz in less than three years is an exceptional result.
“We are entering a very exciting phase with our strategy of defining high-grade gold near the ‘headframe’ and across our district scale underexplored landholding as well as investigating the best way to leverage off existing significant underground workings and open pit material.”
For further information please visit: https://www.autecominerals.com/
