VANCOUVER, BC, Sept. 26,
2024 /CNW/ - Scottie Resources Corp.
("Scottie" or the "Company") (TSXV: SCOT) (OTCQB:
SCTSF) (FSE: SR8) is pleased to announce the successful completion
of its 10,000-metre diamond drill program on the Scottie Gold Mine
Project, located in BC's Golden Triangle. This milestone marks a
significant step forward in advancing the Company towards a Mineral
Resource Estimate, anticipated in late Q1 2025. Assay results from
the drilling are pending, and the Company is awaiting these results
to further evaluate the potential of the mineralized zones. The
Company is proud to report that the program was completed within
the planned budget of $4.5 million,
while also intersecting substantial intervals of mineralization and
instances of visible gold across multiple exciting targets.
Drilling Highlights
The 10,000-metre program, originally budgeted for 6,000 metres,
was extended due to promising early mineralization and drilling
efficiencies while remaining within the allocated $4.5 million budget. Key targets included the
Scottie Gold Mine, Blueberry Contact Zone, C and D Zones, and the
2023 outcrop discovery named the Golden Buckle Zone.
President and CEO, Brad
Rourke commented: "We are thrilled with the results of our
2024 drill campaign. Not only did we achieve significant
mineralization and visible gold across several key targets, but we
also stayed on budget, reflecting the efficiency and effectiveness
of our team. With these results in hand and a robust financial
position, we are well on track to deliver a maiden Mineral Resource
Estimate in early 2025."
Next Steps
As Scottie Resources progresses towards the release of its
maiden Mineral Resource Estimate in Q1 2025, the Company will
continue to focus on expanding its high-grade targets and
evaluating new opportunities within the Golden Triangle. The
results from this drill program affirm the significant upside
potential of the Scottie Gold Mine Project.
About the Scottie Gold Mine Project
Exploration of the Scottie Gold Mine Project over the past 5
years has produced exceptional drill results through the discovery
of high-grade gold in four new zones (Blueberry Contact Zone,
Domino, D-Zone, P-Zone) and the expansion of previously drill
confirmed targets (Scottie Gold Mine, C-Zone, Bend Vein,
Stockwork). When depicted on a map of property scale geology there
is a clear spatial relation between the outcropping and
drill-confirmed high-grade gold targets and the contact with the
Jurassic aged Texas Creek Plutonic suite intrusion. The new 2023
surface discovery (Golden Buckle Zone) of gold-rich vein style
mineralization between the Scottie Gold Mine and the C &
D-Zones further supports this relationship. Geological work in the
area has established strong connections between the various
deposits. The chemical, mineralogical, structural, and age
relationships of the deposits and host rocks support a genetic
model whereby all deposits are linked to the same mineralizing
event.
About the Blueberry Contact Zone
The Blueberry Contact Zone is located just 2 kilometres
northeast of the 100% owned, past-producing Scottie Gold Mine
located in British Columbia,
Canada's Golden Triangle region. Historic trenching and
channel sampling of the Blueberry Vein include results of 103.94
g/t gold over 1.43 metres, and 203.75 g/t gold over 1.90 metres.
Despite high-grade surficial samples and easy road access, the
Blueberry Vein had only limited reported drilling prior to the
Company's exploration work. The target was significantly advanced
during Scottie's 2019 drill program when an interval grading 7.44
g/t gold over 34.78 metres was intersected in a new N-S oriented
zone adjacent to the main Blueberry Vein. The drill results
received from 2020 - 2023, coupled with surficial mapping and
sampling suggest that the N-S mineralized trend is a first order
structure that hosts an array of SW-trending, sub-parallel,
sulphide-rich veins that obliquely crosscut it which host
high-grade gold. As of the end of 2023, the extent of the N-S zone,
defined by the contact between andesite and siltstone units of the
Hazelton Formation and the presence of the cross-cutting
sulfide-rich structures, has a drilled strike length of 1,550
metres and has been tested to >525 metres depth. The
Blueberry Contact Zone is located on the Granduc Road, 20
kilometres north of the Ascot Resources' Premier Mine. Newmont's
Brucejack Mine is located 25 kilometres to the north.
Quality Assurance and Control
Results from samples taken during the 2021-2024 field seasons
were analyzed 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 gold).
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.
Dr. Thomas Mumford, P.Geo., 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 Scottie Gold Mine Property
which includes the Blueberry Contact Zone and the high-grade,
past-producing Scottie Gold Mine. 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 and Tide North properties.
Altogether Scottie Resources holds approximately 58,500 hectares 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.
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.
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.
SOURCE Scottie Resources Corp.