Ann: Sampling returns results up to 569g/t just 6km from Resource, page-20

And Barry Fitzgerald had this today in an article this morning.

”AuTECO:

Gold explorers have got to be most unloved of stocks in the mining sector. The US dollar gold price has obviously not been helping and there is a fear that many will have to undergo massive dilution from distressed capital raisings to keep the doors open.

But among the gloom, there remain bright spots. The preference is for juniors with a big and increasing resource under their belt while also being well funded for the foreseeable future.

Perth-based Ontario gold explorer AuTECO (AUT) reminded everyone this week that it ticked those boxes.

Holding about $17 million at last count, the company is trading at 4c for a market cap of $83 million. If its existing 2.23 million-ounce resource base at a sweet 7.8g/t at its Pickle Crow project was sitting in the backblocks of WA, its market cap would be a multiple of where it is now.

It is a growth story too, with sampling of outcropping veins at a prospect some 6km from the existing resource returning assays of up to 569g/t. The prospect will tested by the drill bit in the winter drill program.

AuTECO reckons it is on to a province play, with the historic Pickle Crow (1.5 million ounces between 1935-1966 at 16.1g/t) at the centre.

Shaw and Partners’ head of research Andrew Hines is a fan. He has a 21c share price target on the stock.

“Pickle Crow is shaping up as multi-million ounce gold province. We find it remarkable that AuTECO is now trading at less than half its value prior to the last resource upgrade (in December) and with ongoing exciting exploration results,” Hines said.

“In our view, AuTECO is one of the most exciting junior gold explorers on the ASX.”