Some potentially big news for Auteco Minerals and the mining industry in northwestern Ontario.
The Australian based company is ramping up exploration at its property east of Pickle Lake.
A maiden drilling program was launched last month at Pickle Crow and since then nine holes have been drilled.
Executive Chair Ray Shorrocks says they are adding a second rig to the property in July and expanding their drill program from 5,000 metres to 10,000.
A 24-man, all-season camp will be delivered to the area next week to support exploration activities.
Shorrocks stresses their findings indicate a significant, high-grade deposit with immense growth potential.
A company released says “Given the depth, width and grade of the deposit Auteco considers that the mineralization has a reasonable prospect of eventually being mined.”
Between 1935 and 1966, the Pickle Crow Mine produced 1.5 million ounces of gold at 16 grams per tonne.
The mine closed when the price of gold bottomed out at $35 US an ounce.
