VANCOUVER, BC, Feb. 22, 2022 /CNW/ - 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 where multiple holes intersected
high-grade gold mineralization on its targeting of additional ore
shoots around the past-producing mine. Strong intercepts, including
9.0 g/t over 7.39 metres illustrate the expansion potential of near
mine mineralization. The high-grade mine operated in the early
1980's with a cut-off grade of 10 g/t gold, leaving substantial
upside for additional expansion. The Scottie Gold Mine is located
on the Granduc Road, 20 kilometres north of the Ascot Resources
Premier Mill, and 35 north of the town of Stewart, BC.
"Strong intercepts continue to underpin our belief that the near
mine exploration of the Scottie Gold Mine has the potential to
develop a substantial high-grade resource adjacent to existing mine
underground workings." comments President and CEO, Brad Rourke. "Drilling around this underexplored
deposit and the ability to leverage the existing historic data,
offers us tremendous value on our path towards defining a road
accessible 1M+ ounce resource."
Table 1: Selected results from new drill assay
(uncut) from the Scottie Gold Mine Project.
Drill
Hole
|
|
From
(m)
|
To
(m)
|
Width*
(m)
|
Gold
(g/t)
|
Silver
(g/t)
|
SR21-097
|
|
201.76
|
223.77
|
22.01
|
4.03
|
1.68
|
including
|
201.76
|
204.70
|
2.94
|
5.36
|
2.72
|
and
|
216.38
|
223.77
|
7.39
|
9.03
|
3.08
|
including
|
216.38
|
218.61
|
2.23
|
27.7
|
17.9
|
and
|
234.24
|
235.25
|
1.01
|
2.40
|
7.00
|
SR21-099
|
|
9.37
|
20.00
|
10.63
|
2.54
|
4.68
|
and
|
207.45
|
210.96
|
3.51
|
2.16
|
5.33
|
and
|
294.80
|
296.80
|
2.00
|
4.24
|
2.00
|
and
|
414.37
|
426.80
|
12.43
|
4.81
|
5.28
|
including
|
414.37
|
418.02
|
3.65
|
14.5
|
15.1
|
SR21-100
|
|
274.04
|
275.04
|
1.00
|
6.68
|
10.0
|
and
|
281.09
|
282.09
|
1.00
|
5.00
|
7.00
|
and
|
348.50
|
351.00
|
2.50
|
5.56
|
10.8
|
SR21-103
|
|
182.63
|
183.60
|
0.97
|
8.89
|
0.00
|
SR21-124
|
|
67.70
|
68.54
|
0.84
|
7.53
|
8.00
|
* True
thicknesses of mineralized intercepts are undetermined
|
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). It is also located 25 km south of the Brucejack Mine
that was the main asset acquired by Newcrest Mining Limited for
$3.5 billion in its acquisition of
Pretium Resources.
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.
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-9-0-gt-gold-over-7-39-metres-and-14-5-gt-gold-over-3-65-metres-at-scottie-gold-mine-project-301487275.html
SOURCE Scottie Resources Corp.