The Pickle Crow property is located in the mining friendly jurisdiction of northwestern Ontario about 400 km north of Thunder Bay and 11 km east of the town of Pickle Lake. The property covers an area of 13,184 ha and includes the historic Pickle Crow gold mine site which operated for 31 years from 1935 to 1966. The mine produced some 1.4 million ounces of gold from 3.1 Mt with an average grade of 16.14 g/t gold (0.47 oz/t). Sandstorm’s royalty includes the historic mine and the surrounding 1,583 ha.
An updated Inferred Mineral Resource on the Pickle Crow project was announced in May 2023 containing 2.8 Moz of gold within 11.9 Mt at a grade of 7.2 g/t gold (3.0 and 2.0 g/t cut-off grade, effective date of December 31, 2022). This represents a 24% increase in contained ounces from the previous estimate.
Extensive infrastructure in place or proximal to the Pickle Crow property includes a 225 tpd gravity mill on site, generators and fuel storage, gravel road access to the property, and a regional airport at Pickle Lake approximately 10 km from the property.
Auteco entered into an option agreement with First Mining Gold in January 2020 whereby it can acquire up to 80% of Pickle Crow. As of August 2021, Auteco completed earn-in requirements to hold a 70% interest in Pickle Crow.