Auteco Minerals expands high-grade Pickle Crow gold project in Canada
Auteco Minerals’ Pickle Crow gold project is near to Evolution Mining’s
Auteco Minerals (ASX: AUT) has pegged up more land contiguous to its Pickle Crow project in one of Canada’s most prolific gold districts in Ontario.
The company has now expanded the project’s landholding by 130 square kilometres, bringing its total land package to 320sq km and including 30km of under-explored gold strike.
According to Auteco, the new ground is contiguous and along strike of the historic Pickle Crow gold mine that produced 1.5 million ounces at 16 grams per tonne gold.
“Auteco is pleased to announce it has increased its land position around the high-grade Pickle Crow gold project to more than 320sq km through the acquisition of an additional 130sq km of vacant, highly-prospective greenstone belt around the project,” Auteco executive chairman Ray Shorrocks said.
“This secures a regional-scale land position in one of the most prolific gold mining districts in Ontario, Canada, a tier one mining jurisdiction.”
He added that Auteco’s management team was in Ontario preparing to begin exploring the property.
Pickle Crow gold project
Late last month, Auteco executed a binding term sheet with TSX-listed First Mining Gold Corp giving it an exclusive option to acquire 80% of Pickle Crow, via a staged earn-in.
The project is 5km from the town of Pickle Lake, which can provide access to necessary infrastructure including grid power, year-round paved road access, shipping, hospitals, heavy equipment rental and a skilled workforce.
A 225t per day gravity mill is at the project site along with offices and other core facilities, which are in “good condition”.
Historic exploration next to the Pickle Crow mine unearthed 13.1m at 43.28g/t gold from 530.35m, 7.6m at 8.23g/t gold from 492.5m, and 2m at 9.05g/t gold from 102m.
However, minimal exploration has been carried out since the mine was closed in 1966.
Despite this, several advanced gold projects are in proximity to Pickle Crow including Evolution Mining’s (ASX: EVN) Red Lake asset, and NYSE-listed Newmont Goldcorp’s Musselwhite mine.