VANCOUVER, British Columbia, Dec. 05, 2019 (GLOBE NEWSWIRE) -- Scottie Resources Corp. (“Scottie” or the “Company”) (SCOT.V) is pleased to provide report assay results from three new showings (The Mayor, Tope Rope, Tombstone) discovered on the Summit Lake Property during the 2019 field season. The Summit Lake Property is situated between Pretium’s Brucejack mine and Ascot’s Premier mine in British Columbia, Canada, and falls within the prolific Golden Triangle. Assays include grades of up to: 9.48 g/t gold, 3510 g/t silver, 2.84 % copper, >20% lead, and 28% zinc.
“Discovered this summer while mapping along the margins of retreating glaciers, these showings highlight the excellent potential for high-grade polymetallic vein systems on the Summit Lake Property” said Dr. Thomas Mumford, the Company’s VP, Exploration, “Together these new showings demonstrate a new a mineralized corridor that extends for at least 2500 m with a width 800 m. Follow up fieldwork and drilling in 2020 will further define and test these new zones.”
Table 1 – Select 2019 grab samples from the new showings
|Sample Number||Gold (ppm)||Silver (ppm)||Copper (ppm)||Lead (ppm)||Zinc (ppm)|
|Additional samples proximal to the new showings|
During the 2019 field season, mapping and sampling focused on significant sulphide-rich veins in areas that have undergone recent glacial retreat. Multiple new sulphide-bearing mineral occurrences were identified mid-season during preliminary mapping (August 27, 2019), and the results from three of the new showings are presented here (Table 1, Figure 1).
Grab sampling of The Mayor, Top Rope, and Tombstone showings and the local surrounding area yielded a total of 69 samples, the majority of which were highly anomalous in multiple base metals and/or precious metals. Based on the mineralogy and geochemistry, the polymetallic mineralization observed at The Mayor, Top Rope, and Tombstone (Figure 1) is distinct from the primary gold-silver mineralization mined at the past-producing Scottie Gold Mine, and represents another favourable deposit style to be explored within the Summit Lake Property. The area will constitute a key focus during the 2020 field season, early season detailed mapping and will be used to delineate drill targets.
A portion of the claims in the Summit Lake Property are subject to a 1.8% gross smelter return, of which the Company can purchase up to 0.8% for $1,000,000 at any time.
Quality Assurance and Control
Results 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). Individual grab samples taken during the project represent point locations in the field, and were typically collected from rocks covering an area of less than 0.5 m2. Grab samples from outcrop/bedrock are selective by nature and they may not be representative of the mineralization hosted on the project.
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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