Auteco Minerals (ASX:AUT) - Executive Chairman, Ray Shorrocks
Executive Chairman, Ray Shorrocks
Source: Global Business Reports
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • A fresh round of results from Auteco Mineral’s (AUT) drill efforts at its Pickle Crow Project in Canada has returned a swathe of high-grade shallow finds
  • The latest intersections will hopefully contribute to a mineral resource upgrade for the company, with 120 diamond drill holes executed at the target since January
  • Finds of note include 0.3 metres at 315.4 g/t gold, one metre at 34.9 g/t gold, 1.2 metres at 29.7 g/t gold and 2.3 metres at 7.8 g/t gold
  • Results for the remaining 21 holes are due in the June quarter as Auteco lays plans for infill drilling on the newly extended and identified mineralised structures
  • Auteco Minerals is trading in the grey at 9 cents per share

A fresh round of results from Auteco Mineral’s (AUT) drill efforts at its Pickle Crow Project in Canada has returned a swathe of high-grade shallow finds.

The explorer is in the midst of working to deliver an upgraded mineral resource at the project, with 120 diamond drill holes for 31,160 metres executed since January.

This latest batch of results has returned high-grade, albeit shallow, intersections in the shaft three area, including 0.3 metres at 315.4 g/t gold, one metre at 34.9 g/t gold, 1.2 metres at 29.7 g/t gold and 2.3 metres at 7.8 g/t gold.

Step-out drilling in the area has also extended the known mineralised vein structures, and, further to this, Auteco says mineralisation continues to remain open in all directions in all target areas.

According to the explorer, assay results for the remaining 21 holes are expected to be received and reported during the June quarter.

Looking ahead, the programme is set to shift towards further infill drilling to allow Auteco to collect further data on the newly identified and extended structures to be used to aid a mineral resource upgrade.

Auteco Executive Chairman Ray Shorrocks said the results show the company’s strategy to grow the inferred mineral resource is on track.

“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, he commented.

Auteco Minerals is trading in the grey at 9 cents per share at 10:48 am AEST.

AUT by the numbers
More From The Market Herald

" GWR Group (ASX:GWR) pens deal with Jindalee Resources (ASX:JRL) for magnesium project

GWR Group (ASX:GWR) has penned a deal with Jindalee Resources (JRL) for a 70 per cent…

" Great Boulder Resources (ASX:GBR) kicks off 5000m AC drill program

Great Boulder Resources (ASX:GBR) commences 5,000 metre aircore (AC) drilling program at its Whiteheads project north…

" Silver Lake Resources (ASX:SLR) ticks boxes during Q4

Silver Lake Resources' (ASX:SLR) Deflector gold and copper mine delivered its second consecutive quarter of record…
Altech Chemicals (ASX:ATC) - Managing Director, Iggy Tan

" Altech Chemicals (ASX:ATC) launches and registers product name Silumina Anodes

Altech Chemicals (ASX:ATC) launches and registers the product name 'Silumina Anodes' for its alumina coated composite…