VANCOUVER, British Columbia, Nov. 12, 2019 (GLOBE NEWSWIRE) -- Scottie Resources Corp. (“Scottie” or the “Company”) (SCOT.V) is pleased to provide an update on 2019 field work performed on its recently acquired Bitter Creek property (see news release dated March 6, 2019) located in BC’s Golden Triangle.
Targeted geological mapping and sampling during the 2019 field season on the 4832 ha Bitter Creek Property has delivered several promising results, including a new showing (Blue Goat) located 1 km along strike from a past producing adit, as well as high-grade gold grab samples from historic trenches.
New Showing – Blue Goat:
The Blue Goat showing is located in a 175 m long, 10 m wide mineralized corridor consisting of massive sphalerite-quartz-Fe-carbonate veining in a variably sulphidized and veined volcanic host rock. The orientation of the mineralized corridor is on strike with the historic Blue Grouse adit, located 1 km to the southwest (see figure below). The mineralized corridor is situated perpendicular to the edge of the Cambria Icefield, and was exposed due to glacial retreat, mineralization is projected to extend beneath the ice.
Outcrop samples from the area exhibit favourable polymetallic grades, including up to 5380 g/t Ag, 8.22 g/t Au, >30 % Zn, 3.2 % Pb, and 0.8 % Cu.
Similarities in structural style/orientation, ore mineralogy, and grades strongly support the hypothesis that the mineralized structure hosting the Blue Goat is a continuation of the Blue Grouse showing. Mineralization remains open along strike: to the northeast the corridor is covered by a glacier and to the southwest the zone is truncated by faulting (follow-up work is required). The separation between the showings provides a 1 km zone in which to target future exploration.
High-Grade Gold – Barney showing:
Grab sampling of historic trenches around the Barney showing have returned significant gold values. Mineralization in multiple hand trenches consists of arsenopyrite and pyrrhotite occurring as discreet veins and as disseminations. Mineralization appears to be associated with a faulted lime-rich siltstone unit. Despite the high-grade nature of the showing, it has never been drilled. Future targeted exploration in the area will be greatly aided by the detailed mapping and contour soil sampling completed this season.
|Sample||Gold (g/t)||Silver (g/t)|
Bradley Rourke, President and CEO of Scottie Resources commented: “We had a great season working on the Cambria Project our >10,000 ha package of claims that borders the western boundary of Ascot Resources’ Red Mountain Project. These results on the Bitter Creek property exemplify the potential in the area, and we are excited to put out more strong results as assays continue to trickle in.”
The Bitter Creek Property is subject to a 2.5% net smelter return, of which the Company can purchase up to 60% for $1,500,000.
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
President & CEO
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.
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