Scottie Resources Intersects 73.32 g/t Gold and 71.01 g/t Silver over 4.38 Metres on Bend Vein, Bow Property
VANCOUVER, British Columbia, Jan. 03, 2020 (GLOBE NEWSWIRE) — Scottie Resources Corp. (“Scottie” or the “Company”) (TSXV: SCOT) is pleased to announce that recent drilling continues to confirm and expand the Bend Vein target on the Bow Property. During September, the Company completed 877.7 metres of diamond drilling on the Bend Vein within the Bow Property, which is located just 2 km NE of the 100% owned, past-producing Scottie Gold Mine located in British Columbia, Canada’s Golden Triangle region.
Results from drill hole SR19-11 include 73.32 g/t gold and 71.01 g/t silver over 4.38 m core length, which includes 152.5 g/t gold and 143.56 g/t silver over 1.89 m. These results exemplify the high-grade gold and silver potential of the Bow Property.Table 1 – Selected Results from the 2019 Drilling on the Bend Vein target, Bow PropertyThe 2019 drilling program was designed to confirm historical results and expand the known extent of the high-grade gold and silver mineralization at the Bend Vein. The company integrated the historical data and recent 2018 and 2019 exploration work into new structural models to better understand the geometry of mineralization.
“The assays from the Bend Vein confirm the superb results of previous studies, and demonstrate a truly underexplored high-grade gold and silver target,” said Bradley Rourke, the Company’s CEO and President. “Past drilling on the Bend Vein only probed to a maximum vertical depth of ~55 m. Our drilling this season proves that the mineralized structure extends deeper than previously tested, and substantially increased the strike length of known mineralization. Drilling during the 2020 season will allow us to further prove the scale of this structurally controlled high-grade vein deposit.”Bend VeinPrior to the Company’s 2019 drill program, the Bend Vein had only seen limited reported drilling, totalling 1525.23 m over three short drill programs (Table 2). Drilling during these programs was focused on demonstrating the extent of a near surface, high-grade block of gold and silver ore to feed into the Scottie Gold Mine mill – no exploration style drilling was done to test along the Bend Fault structure to assess a bigger system. Drilling during the 2019 program has substantiated the grades contained in the high-grade ore block, and tested the structure at depth and along strike. Results from SR19-08 demonstrate that gold mineralization continues east along the Bend fault structure, extending the area of known mineralization for an additional 375 m (Figure 1, Table 1). Future drilling of the Bend vein will focus on significant step outs to test geophysical and geochemical anomalies along the Bend Fault, as well as testing plunge controls on the high-grade ore block.Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d369bfcb-56e0-43b1-a4c9-95f84157ddb7The Bend Vein is a quartz-carbonate-chlorite sulphide bearing vein system located in/along the east-northeast trending Bend Fault, whose strike has been traced for more than 700 m. Sulphide mineralization within the vein consists of up to 60% combined pyrrhotite and pyrite, along with minor chalcopyrite and arsenopyrite. Late stage faulting has brecciated the footwall of the Bend Vein, and minor related shears have cut the vein into steeply plunging segments.Table 2 – Historic results from the Bend Vein target, Bow PropertyQuality Assurance and ControlResults from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO 9001:2008 accredited facility). The sampling program was undertaken by Company personnel under the direction of 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 (+10 g/t Au).
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 property and has the option to purchase a 100% interest in the Bow property and the Summit Lake claims which are contiguous with the Scottie Gold Mine property. Scottie owns 100% interests in the Ruby Silver and Black Hills properties and has the option to purchase a 100% interest in the Bitter Creek property which joins the Ruby Silver property with the Black Hills property.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.Further information on Scottie can be found on the Company’s website at www.scottieresources.com and at www.sedar.com, or by contacting Bradley Rourke, President and CEO at (250) 877-9902.ON BEHALF OF THE BOARD OF DIRECTORS“Bradley Rourke”President & CEOFORWARD LOOKING STATEMENTSThis 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.