Scottie Resources Reports 12.6 g/t Gold and 4.43 g/t Silver Over 5.22 Metres at Scottie Gold Mine M-zone
VANCOUVER, British Columbia, Feb. 10, 2021 (GLOBE NEWSWIRE) — Scottie Resources Corp. (“Scottie” or the “Company”) (TSXV: SCOT) is pleased to report drilling results on the infill and expansionary drilling around the Scottie Gold Mine M-zone including intercepts of 12.6 g/t gold and 4.43 g/t silver over 5.22 metres and 10.7 g/t gold and 5.38 g/t silver over 5.70 metres. The 2020 drill results continue to establish both lateral and vertical expansion and continuity of high-grade gold mineralization in the past-producing mine. The 100% owned Scottie Gold Mine is the flagship project of the Company, is road accessible with excellent existing infrastructure, and is located 40 km north of Stewart, BC, and 20 km north of Ascot’s Premier Mill along the Granduc haul road.
CEO, Bradley Rourke commented: “The 2020 drill program at the Scottie Gold Mine Project continues to deliver strong results that indicate that the gold mineralization at Scottie is more extensive than previously tested. Past mining practices used a historical cut-off grade of 10 g/t gold, and with the current market conditions the opportunity to expand the mineralizing system is excellent as our recent results indicate. During 2021 the Company will continue expanding the drill program and advancing towards delivering a potential resource.”Table 1: 2020 Scottie Gold Mine Drill Results. *True width is estimated to be 80-90% of interval width.2020 Drilling ProgramThe Company completed 7,040 m of drilling in 46 holes during 2020 and took 921 surface samples on its Scottie Gold Mine area projects. The Company has previously released high-grade drill results for the O-Zone, the Domino Zone and the Blueberry Zone (see news releases Oct 6, 2020 Dec 8, 2020, Jan 21, 2021). The high-grade M-Zone drill intercepts presented in this release complement drill results released in 2019 and 2020 on near mine targets, including the Domino and Blueberry Zones, and demonstrate the Company’s success in advancing multiple high-grade areas within the Company’s claims in and around the Scottie Gold Mine.Figure 1: Plan view map illustrating the projected drill traces is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/866d140a-9ccf-456b-ae9c-e0871b7b75ceScottie Gold MineThe Scottie Gold Mine, which operated between 1981 and 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.Figure 2: High-grade gold occurrences is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b0fdeb39-8673-4365-b4b7-053acc193791Figure 3: M- and O-Zone structures is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/74ffdfb3-41cf-47dd-98dc-59bd0dacc8b3Quality Assurance and ControlResults from samples were analyzed at MSALABS in Langley, Canada (an ISO 9001 accredited facility). The sampling program was undertaken by Company personnel 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 48 element ICP-MS 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 Cambria Project properties and the Sulu property. Scottie Resources holds more than 25,000 ha of mineral claims in the Golden Triangle.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.Further information on Scottie can be found on the Company’s website at http://www.scottieresources.com and at www.sedar.com, or by contacting Bradley Rourke, President and CEO at (250) 877-9902.Forward 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.