Scottie eyes gold expansion at B.C. project

VANCOUVER – Scottie Resources Corp. [SCOT-TSXV] CEO Brad Rourke said the latest drill results from its Scottie Gold Mine project in British Columbia illustrate the potential for the expansion of the historic resource. He said drill results released on Friday have also revealed the potential of untested targets, notably the P zone, which had seen no drilling prior to the junior’s involvement.

“The Scottie gold mine target continues to deliver as a cornerstone to our primary goal of developing a road-accessible, one million ounce-plus high-grade gold resource at our Scottie gold mine project,’’ Rourke said in a press release.

The formerly producing high-grade Scottie gold mine is located on the Granduc Road, 35 kilometres north of Stewart, B.C., and north of Ascot Resources Ltd.’s [AOT-TSXV, OTVF-OTCQX] Premier project, which is in the process of refurbishing its mill in anticipation of production in the first quarter of 2023. The former Scottie mine is one of four primary targets that were tested during a 14,500-metre program in 2021, which also includes the rapidly advancing Blueberry zone.

Due to the parallel nature of the targeted veins, individual holes were designed to test multiple discreet targets. Highlight intercepts from the reported holes include 11.8 g/t gold over 6.57 metres, 20.6 g/t gold over 2.22 metres, and 37.2 g/t gold over 3.71 metres in the P, O, and M zones respectively.

Rourke said drilling is now returning intercepts comparable to the mined stopes of the past-producing mines.

Scottie shares were unchanged at 18.5 cents Friday and are trading in a 52-week range of 31.5 cents and 15.5 cents.

The Scottie Gold Mine project consists of the Scottie Gold Mine, Bow, Summit Lake and Stock claim groups. The project includes the past-producing Scottie Gold mine, which operated from 1981 to 1985, producing 95,426 ounces of gold from 183,147 tonnes of mineralization.

The Scottie mine was ultimately shut down due to a drop in the gold price combined with high interest rates.

While 13 distinct gold-bearing vein zones have been identified on the Scottie Gold Mine project, mine production was primarily from one vein.

The company said there are over 20 gold and/or silver bearing mineralized zones within the project area, and prior to the 2020 field season, only four had been drill tested.

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 company is currently focused on expanding the known mineralization around the mine while advancing near mine-grade gold targets, with the purpose of delivering a potential resource.

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