ASX-listed AuTECO Minerals is moving fast to grow the resources of its recently acquired Green Bay copper and gold project, which stands at 39.2-million tonnes at 2.1% for 811 000 t of copper-equivalent contained metal.
The company announced on Tuesday it had started underground mining of a 750 m exploration drill drive at the project, which is in Newfoundland, Canada.
The development is positioned to effectively target down dip extensions of both the upper high-grade copper/gold VMS horizons and the bulk Lower Footwall zone, which returned an intersection of 102 m at 1.7% copper 460 m from the starting point of the exploration drive.
“We are moving rapidly to grow the resource by infill drilling these areas of known high-grade copper. The drive will enable us to do this quickly and efficiently, with the first results expected next month and strong newsflow to follow from then,” said MD Steve Parsons.
AuTECO last month completed the acquisition of Rambler Metals and Mining.