VANCOUVER, BC, Nov. 21,
2024 /CNW/ - Scottie Resources Corp.
("Scottie" or the "Company") (TSXV: SCOT) (OTCQB:
SCTSF) (FSE: SR8) is pleased to report new assays from its 2024
drilling of the O-, M-, and N Zones at the historic Scottie
Gold Mine (SGM). The drilling intercepted multiple high-grade gold
intervals around the historic mine and will be used in the
project's maiden Mineral Resource Estimate (MRE), planned for Q1
2025. The Scottie Gold Mine Project, which includes the 100% owned
historic mine, and the adjacent Blueberry Contact Zone, is located
35 kilometres north of the town of Stewart, BC, along the Granduc Road.
Highlights:
- SGM – drillhole SR24-330 intersected 8.30 grams per tonne
(g/t) gold over 9.70 metres (m) including 10.30 g/t gold
over 6.01 m in the N Zone
and intersected 7.52 g/t gold over 6.47 m at the O Zone (Table 1, Figures
1,2)
- SGM – drillhole SR24-332 intersected 10.9 g/t gold over
4.20 m in a wider zone of 6.19
g/t gold over 8.70 m (Table 1,
Figures 1,2) at the O Zone
- M Zone SGM drillhole SR24-327 intersected 26.1 g/t Au over
2.00 m
- The Scottie Gold Mine Project's MRE planned for late Q1
will be a combination of the historic Scottie Gold Mine deposit and
the newly discovered Blueberry Contact Zone
President and CEO, Brad
Rourke commented: "These results demonstrate the strong
grades and widths of the underground SGM deposit, and the upside
from continued exploration drilling. These intercepts bolster the
geological modelling of the deposit, and when combined with the
Blueberry Contact Zone together will form a robust maiden resource
that we plan to deliver in the new year."
Table 1: Selected results from new drill assays
(uncut) from the Scottie Gold Mine, O, M, and N Zones.
Drill
Hole
|
|
From
(m)
|
To
(m)
|
Width*
(m)
|
Gold
(g/t)
|
Silver
(g/t)
|
SR24-327
|
|
121.10
|
123.10
|
2.00
|
26.1
|
9.50
|
SR24-329
|
|
122.60
|
123.70
|
1.10
|
12.2
|
12.0
|
|
142.75
|
144.75
|
2.00
|
2.76
|
3.00
|
|
185.40
|
186.50
|
1.10
|
4.31
|
9.00
|
SR24-330
|
|
13.00
|
25.50
|
12.50
|
4.32
|
3.63
|
including
|
15.31
|
21.78
|
6.47
|
7.52
|
5.87
|
|
141.40
|
142.40
|
1.00
|
1.13
|
3.00
|
|
307.40
|
317.10
|
9.70
|
8.30
|
8.73
|
including
|
308.40
|
314.41
|
6.01
|
10.3
|
7.84
|
SR24-331
|
|
163.25
|
166.20
|
2.95
|
7.13
|
48.0
|
SR24-332
|
|
12.00
|
20.70
|
8.70
|
6.19
|
5.15
|
including
|
14.00
|
18.20
|
4.20
|
10.9
|
9.12
|
|
131.50
|
132.50
|
1.00
|
1.01
|
21.0
|
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 rate on the
initial mine startup loan. When the mine shutdown, the deposit had
over two years of production left in what the mine considered to be
reserves (this historical estimate is not consistent with CIM
Definition Standards for Mineral Resources & Mineral Reserves
and is not treated as such). The 2024 diamond drill program was
designed to validate the historical drill results, extend known
zones, and test new targets around the past-producing mine.
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.
About the Scottie Gold Mine Project
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).
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). 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. 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 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 and extensional veins, that are comprised of
pyrrhotite > pyrite ± quartz ± calcite. The veins are hosted in
a package of andesitic volcanic rocks from the Hazelton Group -
Unuk River andesite unit 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 zone (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 and reserves. 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 2024.
Quality Assurance and Control
Results from samples taken during the 2024 field season 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/scottie-resources-intercepts-8-30-gt-gold-over-9-70-m-and-6-19-gt-over-8-70-m-at-scottie-gold-mine-n-zone-302312506.html
SOURCE Scottie Resources Corp.