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.
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.
