AuTECO releases Pickle Crow drilling results

Highlights:

Drilling at the Tyson discovery has returned AuTECO’s highest-grade gold intersection to date of 1020 g/t gold over 0.4 m

• The Tyson step-out drilling has significantly expanded the known extent of this vein system, with mineralisation intersected at approximately 200 m below previous drilling.
• Multiple high-grade vein results from the ongoing drill programme include:
  • 0.4 m @ 1020 g/t gold from 809.9 m downhole AUDD0333 (Tyson).
  • 0.4 m @ 71.9 g/t gold from 126.1 m downhole AUDD0315 (Vein 5). 
  • 0.4 m @ 29.8 g/t gold from 62.9 m downhole AUDD0331 (Vein 5).
  • 1.9 m @ 8.6g/t gold from 699.0 m downhole AUDD0333-W1 (Vein 5).
• Tyson is a group of mineralised veins which sits outside the current resource. Tyson is expected to be included in the resource for the first time as part of the update set for 1Q23.
• In addition to the Tyson results, broad, shallow mineralisation within banded iron units has been intersected with results including:
  • 6.2 m @ 3.0 g/t gold from 138.8 m down hole AUDD0333 (Tyson).
  • 11.0 m @ 1.6 g/t gold from 32.0 m down hole AUDD0315 (Vein 5).
• Two drill rigs on site, with winter regional drilling campaign about to commence.
• AuTECO remains well funded for its exploration programs, with AUS$11 million in cash at 30 September 2022.

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.

AuTECO Chief Executive Officer Darren Cooke said:

“The recent Tyson results continue to demonstrate that we are onto a significant new mineralised system that has not been historically mined.

“Not only have we extended the known depth of the vein system by more than 200 m, but the intersection of 1020 g/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”.

Read the article online at: https://www.globalminingreview.com/exploration-development/22112022/auteco-releases-pickle-crow-drilling-results/