Scottie Resources Corp. (“
Scottie” or the
“
Company”) (TSXV: SCOT), (OTCQB:SCTSF), (FSE:SR8)
is pleased to report drill assays from its Scottie Gold Mine (SGM)
target. Due to the parallel nature of the targeted veins,
individual holes were designed to test multiple discreet targets.
Highlight intercepts from the reported holes include: 11.8 g/t gold
over 6.57 metres, 20.6 g/t gold over 2.22 metres, and 37.2 g/t gold
over 3.71 metres in the P, O, and M-Zones respectively. The
past-producing high-grade Scottie Gold Mine is located on the
Granduc Road, 35 kilometres north of the town of Stewart, BC, and
is one of four primary targets that were tested during the 14,500 m
program in 2021, which also includes the rapidly advancing
Blueberry Zone (November 9, 2021) .
“These results from Scottie Gold Mine illustrate
the potential for the expansion of the historic resource at Scottie
through both the extension of known ore shoots, as well as
revealing the potential of previously untested targets – notably
the P-zone which prior to Scottie’s involvement had seen no
drilling, and now we are hitting intercepts comparable to the mined
stopes of the past producing mine.“ comments President and CEO,
Brad Rourke. “The Scottie Gold Mine target continues to deliver as
a cornerstone to our primary goal of developing a road accessible,
1M+ ounce high-grade gold resource at our Scottie Gold Mine
Project.”
Table 1: Selected results from new
drill assay results (uncut) from the Scottie Gold Mine Project.
Drill Hole |
|
|
From (m) |
To (m) |
Width* (m) |
Gold (g/t) |
Silver (g/t) |
SR21-094 |
|
|
16.16 |
23.72 |
7.56 |
2.41 |
1.94 |
and |
|
58.84 |
65.41 |
6.57 |
11.8 |
12.6 |
including |
|
61.65 |
65.41 |
3.76 |
20.2 |
19.0 |
and |
|
131.85 |
135.93 |
4.08 |
4.12 |
5.15 |
SR21-095 |
|
|
198.03 |
208.12 |
10.09 |
2.20 |
6.05 |
including |
|
206.43 |
208.12 |
1.69 |
10.5 |
8.53 |
and |
|
227.34 |
231.05 |
3.71 |
37.2 |
8.60 |
SR21-096 |
|
|
10.64 |
18.48 |
7.84 |
2.59 |
4.38 |
including |
|
10.64 |
13.54 |
2.90 |
3.35 |
9.59 |
and including |
|
15.04 |
18.48 |
3.44 |
2.96 |
1.45 |
and |
|
50.08 |
54.74 |
4.66 |
3.39 |
4.21 |
including |
|
53.73 |
54.74 |
1.01 |
14.7 |
16.0 |
and |
|
169.39 |
174.39 |
5.00 |
8.08 |
6.73 |
including |
|
171.08 |
173.39 |
2.31 |
15.4 |
9.44 |
and |
|
240.96 |
243.18 |
2.22 |
20.6 |
11.0 |
and |
|
385.23 |
387.18 |
1.95 |
3.42 |
4.03 |
* True thicknesses of
mineralized intercepts are undetermined
Figure 1: Plan view map of
recent drilling on the Scottie Gold
Mine.https://www.globenewswire.com/NewsRoom/AttachmentNg/33c8d0a8-d4cc-49ff-ac10-c5fe51bfe13b
Corporate Update
Scottie is also pleased to announce the
re-appointment of Stephen Sulis as Chief Financial Officer. Mr.
Stephen Sulis is currently working as CFO with a number of TSX-V
and CSE listed companies, predominately focused on the resource
sector, both in Canada and around the globe. His professional
experience includes exploration and mining companies,
implementation of accounting software, various equity financings
and implementation of internal control policies. In addition to his
accounting experience, previously Mr. Sulis worked in the financial
sector with TD Canada Trust. Mr. Sulis graduated with distinction
at Capilano University, North Vancouver, and holds a bachelor’s
degree in business administration as well as an advanced diploma in
international business studies.
The Company wishes to thank Lisa Peterson for
her service and wishes her all the best in her
future endeavours.
About the Scottie Gold Mine
The Scottie Gold Mine, which operated between
1981 to 1985, produced 95,426 gold ounces from 183,147 tonnes at an
average recovered grade of 16.2 g/t gold. The mine ultimately shut
down due to a drop in gold price combined with high-interest rates.
Mineralization consists of east-west to northwest trending, steeply
dipping, shear veins, that are comprised of pyrrhotite > pyrite
± quartz ± calcite. The veins are hosted in a package of andesitic
volcanic rocks from the Hazelton Unuk River Formation that are
situated adjacent to the contact with the Summit Lake stock, part
of the Texas Creek Plutonic Suite. While 13 distinct gold-bearing
vein zones have been identified on the Scottie Gold Mine Project,
mine production was primarily from one vein (the M-zone).
Historical drilling of the Scottie Gold Mine was
largely focused on mine production, with little work done on
proving up substantial resources. The majority of historical
drilling was done from underground, and therefore consisted of
short holes with single targets – with very restricted drill pad
locations. Recent exploration by Scottie has used the benefits of
drilling from surface to target areas that were inaccessible with
underground drill locations, and where possible to test multiple
targets with individual holes. The Scottie Gold Mine is located on
the Granduc Road, 20 km north of the Ascot Resources’ Premier
Project, which is in the process of refurbishing their mill in
anticipation of production in Q1 2023 (December 7, 2021).
Quality Assurance and Control
Results from samples during the 2021 field
season were analyzed at either ALS Laboratory in Vancouver, BC or
at SGS Minerals in Burnaby, BC. The sampling program was undertaken
under the direction of Dr. Thomas Mumford. A secure chain of
custody is maintained in transporting and storing of all samples.
Gold was assayed using a fire assay with atomic absorption
spectrometry and gravimetric finish when required (+9 g/t Au).
Analysis by four acid digestion with multi-element ICP-AES analysis
was conducted on all samples with silver and base metal over-limits
being re-analyzed by emission spectrometry.
Thomas Mumford, Ph.D., P.Geo and VP Exploration
of Scottie, a qualified person under National Instrument 43-101,
has reviewed the technical information contained in this news
release on behalf of the Company.
ABOUT SCOTTIE RESOURCES
CORP.
Scottie owns a 100% interest in the high-grade,
past-producing Scottie Gold Mine and Bow properties and has the
option to purchase a 100% interest in Summit Lake claims which are
contiguous with the Scottie Gold Mine property. Scottie also owns
100% interest in the Georgia Project which contains the high-grade
past-producing Georgia River Mine, as well as the Cambria Project
properties and the Sulu property. Altogether Scottie Resources
holds more than 52,000 ha of mineral claims in the Stewart Mining
Camp in the Golden Triangle.
The Company’s focus is on expanding the known
mineralization around the past-producing mines while advancing near
mine high-grade gold targets, with the purpose of delivering a
potential resource. The Company’s focus is on expanding the known
mineralization around the past-producing mine while advancing near
mine high-grade gold targets, with the purpose of delivering a
potential resource.
All of the Company’s properties are located in
the area known as the Golden Triangle of British Columbia which is
among the world’s most prolific mineralized districts.
Additional Information |
|
|
|
Brad Rourke President and CEO +1 250 877
9902 brad@scottieresources.com |
Gordon RobbBusiness Development+1 250 217
2321gordon@scottieresources.com |
|
|
Forward Looking Statements
This news release may contain forward‐looking
statements. Forward looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words “expects”, “plans”, “anticipates”, “believes”, “intends”,
“estimates”, “projects”, “potential” and similar expressions, or
that events or conditions “will”, “would”, “may”, “could” or
“should” occur. Although the Company believes the expectations
expressed in such forward‐looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in forward looking statements. Forward‐looking statements are
based on the beliefs, estimates and opinions of the Company’s
management on the date such statements were made. The Company
expressly disclaims any intention or obligation to update or revise
any forward‐looking statements whether as a result of new
information, future events or otherwise.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of TSX Venture Exchange) accepts responsibility for the
adequacy of accuracy of this release.
Scottie Resources (TSXV:SCOT)
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Scottie Resources (TSXV:SCOT)
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