An Australian junior mining company poking around an old Pickle Lake gold mine continues to find exploration success.
After finishing up a 45,000-metre drilling program last month, Auteco Minerals posted a new resource update for its Pickle Crow Project, showing an inferred gold resource of 1.7 million ounces at 8.1 grams per tonne, up 71 per cent from their previous estimates. The high-grade side of that estimate shows 1,470,000 ounces at 10 grams per tonne.
The Perth-headquartered company picked up Pickle Crow early last year through an earn-in, joint venture arrangement with First Mining Gold. They’ve been running an aggressive exploration program ever since at the historic northwestern Ontario gold mining camp.
Auteco maintains Pickle Crow has plenty more gold to give. Between 1935 and 1966, the underground mine was one of Canada’s highest grade producers, compiling 1.5 million ounces of gold at an average grade of 16.1 grams per tonne. That gold was mined from narrow high-grade vein quartz veins.
Auteco is still finding plenty of that style of mineralization but after combing through old mine data and through exploration they’ve been discovering broader zones of gold within banded iron formations, but of slightly lower grade.
For the rest of this article: https://www.northernontariobusiness.com/industry-news/mining/auteco-minerals-builds-gold-ounces-at-pickle-lake-3957758