As I’ve been telling people over and over, gold’s corrective move in September was a gift dropped in your lap from the market gods. The bullion price just pierced above $1,900 per ounce, setting up the retest of $2,000 for October.
You might think of October as a tricky month for market indices, but that’s what makes gold an absolute necessity during a particularly contentious election year. With that, the demand for precious metals is intensifying and the pressure’s on gold miners to ramp up their exploration and drilling activity.
At the same time, Vancouver resource specialist First Mining Gold Corp. (TSX: FF, OTCQX: FFMGF) just announced exceptional initial results from the company’s 2020 diamond drill program, which is currently underway at the Pickle Crow Gold Project in northwestern Ontario.
In collaboration with Auteco Minerals Ltd., First Mining Gold is advancing the Pickle Crow Project by completing an expansive 45,000-meter drill program. Auteco started drilling at Pickle Crow back in May and the company’s aggressive drilling program is now fully funded following its recent AUD$30.4 million capital raise.
The freshly-released road map highlights not only the latest drill results, but also newly identified zones of mineralization at Pickle Crow:
On the map, you can see multiple veins with unmined intercepts from previous drilling. That’s in addition to the other mineralized veins that Auteco and First Mining Gold will continue to target in 2020.
To date, the drilling activity has intersected high-grade gold mineralization in numerous areas up to 250 meters outside of the current resource area, with additional targets identified for further drilling throughout the year. So far, Auteco has completed drilling on 19 holes totaling 4,464 meters, with assays returned for 9 holes and partial assays for a further 6 holes.
The initial results are highly encouraging, with multiple sites indicating vertical continuity in the high-grade vein component of mineralization. Moreover, the results of Auteco’s drilling at Pickle Crow represent an exciting opportunity for the company to identify additional mineral resources nearby.
The best is yet to come, as Pickle Crow is among Canada’s highest-grade historical gold mines. The core trend in gold is to the upside and the world’s most aggressive miners – like Auteco and First Mining Gold – will capture market share and pass the value on to you, the investor.
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