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- AuTECO Minerals (AUT) records its highest grade gold intersection at its Pickle Crow project in Canada
- The company is undertaking a 50,000-metre drilling program across the project and the most recent results come from an area dubbed Tyson
- Tyson is a group of mineralised veins, sitting outside the current resource and as such, the latest results expand the extent of the known vein system
- The company expects these results will be included in the mineral resource for the first time as part of an update set for the March 2023 quarter
- AUT shares were up 13 per cent to trade at 6.1 cents at 10:59 am AEDT
AuTECO Minerals (AUT) has hit its highest grade gold intersection at its Pickle Crow project in Canada.
The company is undertaking a 50,000-metre drilling program across the project and the most recent results come from an area dubbed Tyson.
Tyson is a group of mineralised veins, sitting outside the current resource and as such, the latest results expand the extent of the known vein system.
Mineralisation was intersected around 200 metres below previous drilling with a peak 0.4 metre intersection grading up to 1020 grams per tonne (g/t) gold returned from 809.9 metres downhole.
Other results included 0.4 metres at 71.9 g/t gold from just over 126 metres downhole, and 0.4 metres at 29.8 g/t gold from 62.9 metres.
The company expects these results will be included in the resource for the first time as part of an update set for the March 2023 quarter.
In addition to the Tyson results, broad, shallow mineralisation within banded iron units was intersected with results including 6.2 metres at 30 g/t gold from 138.8 metres, and 11 metres at 1.6 g/t from 32 metres.
AuTECO CEO Darren Cook said the results continue to demonstrate the company is on to a “significant new mineralised system” that hasn’t been historically mined.
“Not only have we extended the known depth of the vein system by more than 200 vertical metres, but the intersection of 1020 g/t gold is the highest-grade intersection drilled by AuTECO to date,” Mr Cook said.
Two drill rigs remain on site with the drilling program scheduled to wrap up in early 2023.
AUT shares were up 13 per cent to trade at 6.1 cents at 10:59 am AEDT.
