- Oops!Something went wrong.Please try again later.
VANCOUVER, British Columbia, Jan. 09, 2020 (GLOBE NEWSWIRE) -- Scottie Resources Corp. (“Scottie” or the “Company”) (SCOT.V) is pleased to report recent drilling success from the Blueberry Vein on the Bow Property. Results from drill hole SR19-20 include 7.44 g/t gold and 1.29 g/t silver over 34.78 m, which includes 14.29 g/t gold over 14.00 m. During September, the Company completed 630.2 metres of diamond drilling on the Blueberry Vein within the Bow Property, which is located just 2 km NE of the 100% owned, past-producing Scottie Gold Mine located in the “Golden Triangle” area of British Columbia, Canada.
Table 1 – Selected Results from 2019 Drilling on the Blueberry Vein target, Bow Property
*not true width, most intervals are estimated to be 80-90% of true width
Thomas Mumford, the Company’s VP, Exploration commented: "The high-grade intersection in SR19-20 opens up a lot of potential for the Blueberry Vein system. The location of the intercept suggests that we may have pierced a new zone, a potential splay off of the surficial exposure of the Blueberry Vein. As this was our last hole of the 2019 season, the zone remains completely open to the north, and at depth. This will be a priority drill target to follow up early in the 2020 field season.”
Historic trenching and channel sampling of the Blueberry Vein include results of 223.50 g/t over 1.90 metres, and 114.02 g/t gold over 1.43 metres. Despite high-grade surficial samples and easy road access, the Blueberry Vein has only limited reported drilling. The last drill program with documentation was in 1985 and consisted of just 5 drill holes; the best intercept was 26.56 g/t gold and 21.3 g/t silver over 1.59 metres.
2019 Drilling Summary
Drilling during 2019 confirmed grades from the previous exploration programs, as well as increasing the known extent of mineralization. Results from SR19-20 demonstrate that significant intervals of high-grade mineralization are present within the Blueberry Vein structure, and that they are wider and extend deeper than previously tested. The location of the intercept in SR19-20 suggests that there may be a significant splay off of the Blueberry vein, this will be tested with future drilling.
The Blueberry Vein is a moderately dipping, SW striking, chlorite-rich pyrrhotite-pyrite vein; on surface the vein ranges from 0.2 – 2.0 m in width. The vein is hosted in andesitic volcanics and siltstones of the Unuk River Formation of the Hazelton Group, and is situated in a minor shear with a small displacement. Bounding narrow shears within the hanging wall and footwall of the vein locally control the thickness of the vein, forming rolls in the vein. The orientation of these rolls is typically moderate plunging and trending to the southwest.
The Bow property is road accessible from the town of Stewart, BC, and is subject to a 3% net smelter return, of which the Company can purchase 2% for $600,000 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).
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.
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.