VANCOUVER, British Columbia, Aug. 20, 2019 (GLOBE NEWSWIRE) -- Scottie Resources Corp. (“Scottie” or the “Company”) (SCOT.V) is pleased to announce that its Phase 1 drilling program of 2000 metres to be split between their Scottie Gold Mine and Bow properties located in the Golden Triangle mining district in northern BC. Drilling is expected to commence by mid-September.
The 100% owned Scottie Gold Mine, operated from 1981 to 1985 with milled vein material averaging 16.2 g/t recovered gold and produced 95,426 ounces of gold from just 183,147 tonnes of ore. While 13 distinct gold bearing vein zones have been identified between the contiguous Scottie and Bow properties, mine production was primarily from one vein (the M-zone). Scottie Resources Corp. has the option to acquire a 100% interest in the 471.92 hectare Bow property.
The Company’s initial 12 hole (2,000 m) drill program is designed to : (a) follow-up and step out from multiple high-grade historic intercepts of near surface high-grade mineralization at the Bow property, and (b) to assess a newly discovered zone on the Scottie Gold property recently exposed from glacial retreat. Gold mineralization at the Scottie Gold Mine and Bow properties is hosted in Jurassic age Hazelton Group volcanics and sediments and associated with phases of the Texas Creek Plutonic Suite; similar geological setting to the nearby Brucejack and Premier mines.
Select highlights from the Bow historical drill hole intercepts include the following:
84-7: 70.15 g/t Au over 4.17 metres
91-5: 57.94 g/t Au over 2.60 meters
91-6: 28.11 g/t Au over 2.64 meters
05-03: 18.48 g/t Au over 1.83 meters
05-10: 23.01 g/t over 4.66 meters
All intercepts are true widths, and are located at vertical depths of less than 45 m. To date, no drilling has tested the mineralization below 55 m vertical depth.
Bradley Rourke, President and CEO of Scottie Resources commented: “Based on the historical drilling and extensive fieldwork conducted over the last 2 years, the initial drill program is designed to expand and confirm the geometry and continuity of high grade gold zones. The 2019 fieldwork and drill program will lead to a larger more targeted exploration program on the Scottie and Bow properties, as well as our newly acquired Summit Lake claims in 2020. We are excited to commence drilling and accelerate and advance the Scottie Mine site and regional exploration.”
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 100% interests in the high grade, past-producing Scottie Gold Mine property, the Stock property, the Ruby Silver property and the Black Hills property. Scottie has the option to purchase 100% interests in the Bow property, the Bitter Creek property and the Summit Lake 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.
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