Scottie Resources Intercepts 11.8 g/t Gold Over 6.57 Metres and 37.2 g/t Gold Over 3.71 Metres at Scottie Gold Mine Project and Provides Corporate Update

Scottie Resources Intercepts 11.8 g/t Gold Over 6.57 Metres and 37.2 g/t Gold Over 3.71 Metres at Scottie Gold Mine Project and Provides Corporate Update

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. 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 gt gold over 6.57 metres, 20.6 gt gold over 2.22 metres, and 37.2 gt gold over 3.71 metres in the P, O, and M-Zones respectively. The past-producing high-grade Scottie Gold Mine is located on the Granduc Road, 35 kilometres north of the town of Stewart, BC, and is one of four primary targets that were tested during the 14,500 m program in 2021, which also includes the rapidly advancing Blueberry Zone ( November 9, 2021 ) .

"These results from Scottie Gold Mine illustrate the potential for the expansion of the historic resource at Scottie through both the extension of known ore shoots, as well as revealing the potential of previously untested targets – notably the P-zone which prior to Scottie's involvement had seen no drilling, and now we are hitting intercepts comparable to the mined stopes of the past producing mine." comments President and CEO, Brad Rourke. "The Scottie Gold Mine target continues to deliver as a cornerstone to our primary goal of developing a road accessible, 1M+ ounce high-grade gold resource at our Scottie Gold Mine Project."

Table 1: Selected results from new drill assay results (uncut) from the Scottie Gold Mine Project.

Drill Hole From (m) To (m) Width* (m) Gold (g/t) Silver (g/t)
SR21-094





16.16 23.72 7.56 2.41 1.94
and 58.84 65.41 6.57 11.8 12.6
including 61.65 65.41 3.76 20.2 19.0
and 131.85 135.93 4.08 4.12 5.15
SR21-095



198.03 208.12 10.09 2.20 6.05
including 206.43 208.12 1.69 10.5 8.53
and 227.34 231.05 3.71 37.2 8.60
SR21-096















10.64 18.48 7.84 2.59 4.38
including 10.64 13.54 2.90 3.35 9.59
and including 15.04 18.48 3.44 2.96 1.45
and 50.08 54.74 4.66 3.39 4.21
including 53.73 54.74 1.01 14.7 16.0
and 169.39 174.39 5.00 8.08 6.73
including 171.08 173.39 2.31 15.4 9.44
and 240.96 243.18 2.22 20.6 11.0
and 385.23 387.18 1.95 3.42 4.03

* True thicknesses of mineralized intercepts are undetermined

Figure 1: Plan view map of recent drilling on the Scottie Gold Mine.
https://www.globenewswire.com/NewsRoom/AttachmentNg/33c8d0a8-d4cc-49ff-ac10-c5fe51bfe13b

Corporate Update

Scottie is also pleased to announce the re-appointment of Stephen Sulis as Chief Financial Officer. Mr. Stephen Sulis is currently working as CFO with a number of TSX-V and CSE listed companies, predominately focused on the resource sector, both in Canada and around the globe. His professional experience includes exploration and mining companies, implementation of accounting software, various equity financings and implementation of internal control policies. In addition to his accounting experience, previously Mr. Sulis worked in the financial sector with TD Canada Trust. Mr. Sulis graduated with distinction at Capilano University, North Vancouver, and holds a bachelor's degree in business administration as well as an advanced diploma in international business studies.

The Company wishes to thank Lisa Peterson for her service and wishes her all the best in her future endeavours.

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 ).

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.

Additional Information
Brad Rourke
President and CEO
+1 250 877 9902
brad@scottieresources.com
Gordon Robb
Business Development
+1 250 217 2321
gordon@scottieresources.com

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.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

SCOT:CA
The Conversation (0)
Scottie Resources

Scottie Resources

Strategic Exploration of BC’s World-Class Golden Triangle

SCOTTIE ANNOUNCES CLOSING OF $5 MILLION PRIVATE PLACEMENT

SCOTTIE ANNOUNCES CLOSING OF $5 MILLION PRIVATE PLACEMENT

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES / All monetary amounts are expressed in Canadian Dollars, unless otherwise indicated. Scottie Resources Corp . (TSXV: SCOT)... Keep Reading...
Scottie Resources Announces $6 Million Private Placement of Flow-Through Shares and Common Shares

Scottie Resources Announces $6 Million Private Placement of Flow-Through Shares and Common Shares

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES / Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) (The "Company") is pleased to announce that it has entered into an agreement pursuant to which Cormark Securities Inc., as lead agent, on... Keep Reading...
SCOTTIE RESOURCES EXTENDS BLUEBERRY CONTACT ZONE TO 720 METRES AND 225 METRES DEPTH WITH INTERCEPT OF 34.6 G/T GOLD OVER 11.86 METRES

SCOTTIE RESOURCES EXTENDS BLUEBERRY CONTACT ZONE TO 720 METRES AND 225 METRES DEPTH WITH INTERCEPT OF 34.6 G/T GOLD OVER 11.86 METRES

Scottie Resources Corp. (" Scottie " or the " Company ") (TSXV: SCOT) (OTCQB: SCTSF) FSE: SR8) is pleased to report additional new assays on the Blueberry Contact Zone extending the strike length of the mineralizing structure to more than 720 metres, which remains open in all directions. The... Keep Reading...
SCOTTIE RESOURCES INTERCEPTS 9.0 G/T GOLD OVER 7.39 METRES AND 14.5 G/T GOLD OVER 3.65 METRES AT SCOTTIE GOLD MINE PROJECT

SCOTTIE RESOURCES INTERCEPTS 9.0 G/T GOLD OVER 7.39 METRES AND 14.5 G/T GOLD OVER 3.65 METRES AT SCOTTIE GOLD MINE PROJECT

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... Keep Reading...
SCOTTIE RESOURCES EXTENDS BLUEBERRY ZONE TO 225 METRES DEPTH WITH INTERCEPT OF 15.3 G/T GOLD OVER 13.49 METRES

SCOTTIE RESOURCES EXTENDS BLUEBERRY ZONE TO 225 METRES DEPTH WITH INTERCEPT OF 15.3 G/T GOLD OVER 13.49 METRES

Scottie Resources Corp. (" Scottie " or the " Company ") (TSXV: SCOT) (OTCQB: SCTSF), (FSE:SR8) is pleased to report additional new assays on the Blueberry Zone, including intercepts of 15.3 gt gold over 13.49 metres and 18.7 gt gold over 3.17 metres. The location of these holes extends the... Keep Reading...
Gold and silver bars on a scale with green upward arrow and "Weekly Editor's Picks" text.

Editor's Picks: Historic Week — Gold Breaks US$4,000, Silver Takes Out All-time High

It's been yet another historic week for gold, as well as silver.Gold broke through US$4,000 per ounce midway through the period, entering never-before-seen territory as the US government shutdown continued into a second week.Silver's milestone was perhaps even more impressive. The white metal... Keep Reading...
Gold bars stacked with financial chart background.

OPINION — Past is Prologue: Why the Next Decade Could Belong to Gold and the Miners

This opinion piece was submitted to the Investing News Network (INN) by John Newell who is an external contributor. INN believes it may be of interest to readers and has copy edited the material to ensure adherence to the company’s style guide; however, INN does not guarantee the accuracy or... Keep Reading...
Scales of justice, gavel, and law books on a desk.

Tudor Gold Sues BC, Seabridge Over Tunnel Rights in Golden Triangle

An ongoing land-use dispute in British Columbia’s mineral-rich Golden Triangle has escalated into a full-blown legal battle as Tudor Gold (TSXV:TUD,OTC Pink:TDRRF)takes the province and rival Seabridge Gold (TSX:SEA,NYSE:SA) to court over tunneling rights linked to one of Canada’s largest... Keep Reading...
Two 3D arrows, one black and one gold, merge and point upward on a white background.

Predictive Discovery and Robex to Merge, Combining West African Gold Projects

Australia-based Predictive Discovery (ASX:PDI) and Canadian company Robex Resources (ASX:RXR,TSXV:RBX,OTC Pink:RSRBF) have agreed on a merger of equals, creating West Africa’s new mid-tier gold producer.In a joint announcement, the companies said that Predictive Discovery will indirectly acquire... Keep Reading...
Gold bars and silver coins scattered on a surface.

Gold Price Breaches US$4,000, Silver Tests US$50

Gold marked a new price milestone on Wednesday (October 8), breaking US$4,000 per ounce. The spot price hit a fresh record, rising as high as US$4,056.14 in midday trading. Future prices for gold breached US$4,000 for the first time on Tuesday (October 7) and have continued to climb higher.The... Keep Reading...
Three gold bars on price chart with magnifying glass.

What Was the Highest Price for Gold?

Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has... Keep Reading...

Latest Press Releases

Related News