Scottie Resources Corp. (“
Scottie” or the
“
Company”) (TSXV: SCOT) is pleased to report
drilling results on the infill and expansionary drilling around the
Scottie Gold Mine M-zone including intercepts of
12.6 g/t
gold and
4.43 g/t silver over
5.22 metres and
10.7 g/t gold and
5.38 g/t silver over
5.70 metres.
The 2020 drill results continue to establish both lateral and
vertical expansion and continuity of high-grade gold mineralization
in the past-producing mine. The 100% owned Scottie Gold Mine is the
flagship project of the Company, is road accessible with excellent
existing infrastructure, and is located 40 km north of Stewart, BC,
and 20 km north of Ascot’s Premier Mill along the Granduc haul
road.
CEO, Bradley Rourke commented: “The 2020 drill
program at the Scottie Gold Mine Project continues to deliver
strong results that indicate that the gold mineralization at
Scottie is more extensive than previously tested. Past mining
practices used a historical cut-off grade of 10 g/t gold, and with
the current market conditions the opportunity to expand the
mineralizing system is excellent as our recent results indicate.
During 2021 the Company will continue expanding the drill program
and advancing towards delivering a potential resource.”
Drill Hole |
|
From (m) |
To (m) |
Width* (m) |
Gold (g/t) |
Silver (g/t) |
SR20-51 |
|
34.73 |
72.6 |
37.87 |
2.40 |
4.57 |
including |
50.3 |
56 |
5.70 |
10.7 |
5.38 |
and including |
51.3 |
54 |
2.70 |
16.5 |
6.14 |
SR20-52 |
|
45.07 |
60.55 |
15.48 |
4.69 |
2.42 |
including |
46.97 |
52.19 |
5.22 |
12.6 |
4.43 |
and including |
46.97 |
48.7 |
1.73 |
21.8 |
3.95 |
SR20-54 |
|
112.86 |
115.92 |
3.06 |
1.81 |
17.0 |
Table 1: 2020 Scottie Gold Mine
Drill Results. *True width is estimated to be 80-90% of interval
width.
2020 Drilling Program
The Company completed 7,040 m of drilling
in 46 holes during 2020 and took 921 surface samples on its Scottie
Gold Mine area projects. The Company has previously released
high-grade drill results for the O-Zone, the Domino Zone and the
Blueberry Zone (see news releases Oct 6, 2020 Dec 8, 2020, Jan 21,
2021). The high-grade M-Zone drill intercepts presented in this
release complement drill results released in 2019 and 2020 on near
mine targets, including the Domino and Blueberry Zones, and
demonstrate the Company’s success in advancing multiple high-grade
areas within the Company’s claims in and around the Scottie Gold
Mine.
Figure 1: Plan view map
illustrating the projected drill traces is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/866d140a-9ccf-456b-ae9c-e0871b7b75ce
Scottie Gold Mine
The Scottie Gold Mine, which operated between
1981 and 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.
Figure 2: High-grade gold
occurrences is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b0fdeb39-8673-4365-b4b7-053acc193791
Figure 3: M- and O-Zone
structures is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/74ffdfb3-41cf-47dd-98dc-59bd0dacc8b3
Quality Assurance and Control
Results from samples were analyzed at MSALABS in
Langley, Canada (an ISO 9001 accredited facility). The sampling
program was undertaken by Company personnel 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 48 element ICP-MS 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 Cambria Project properties and the Sulu
property. Scottie Resources holds more than 25,000 ha of mineral
claims in the Golden Triangle.
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.
Further information on Scottie can be found on
the Company’s website at http://www.scottieresources.com and at
www.sedar.com, or by contacting Bradley Rourke, President and CEO
at (250) 877-9902.
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.
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