VANCOUVER, British Columbia, Dec. 17, 2019 (GLOBE NEWSWIRE) -- Scottie Resources Corp. (“Scottie” or the “Company”) (SCOT.V) is pleased to provide report assay results from two new showings (Kingpin and Lone Wolf) discovered during the 2019 exploration program. Grades from the two new showings range up to 26.9 g/t gold and 370 g/t silver. The Summit Lake Property surrounds the 100% owned, past-producing Scottie Gold Mine located in British Columbia’s Golden Triangle.
Table 1 – Select 2019 grab samples from Kingpin, Lone Wolf and 6 oz Zone Showings
6 oz Zone
“These two new showing further illustrate the extent and high-grade nature of mineralization prevalent on the Summit Lake property” said Dr. Thomas Mumford, the Company’s VP, Exploration, “This summer was extremely productive at finding new high-grade discoveries on surface, and we look forward to drill testing many of these targets next year while continuing to perform surficial work on this exciting land package.”
The discovery of the sulphide-bearing mineralization at the Kingpin and Lone Wolf showings (reported August 27, 2019) was a result of mapping in areas of subjected to recent glacial retreat. The Lone Wolf showing is located just 300 west of the E-W striking M-zone in the past-producing Scottie Gold Mine (95,426 oz of gold at a recovered grade of 16.2 g/t).
Figure 1 – 2019 Grab sampling of Kingpin, Lone Wolf and 6 oz Zone Showings on the Summit Lake and Scottie Gold Mine Properties
In addition to the Kingpin and Lone Wolf showings, select high-grade assay data is presented here for the follow-up sampling around the 6 oz Zone, and other sampling done in the area (grades up to 51.6 g/t Gold and 424 g/t Silver. The 6 oz Zone, discovered in 2016, was named after a float sample which graded 187 g/t (6 oz’s) that was recovered from a steep gully. Upslope of the float sample, multiple sulphide bearing veins were identified and sampled during the 2019 field season, but so far none have returned assays equivalent to the float sample. It is possible that the primary source vein may still be overlain by the adjacent glacier to the west (Figure 1).
Overall, these assay results - combined with previous releases on the Summit Lake property (August 27 / November 14 / December 5) - have proven the Summit Lake property to be exceptionally imbued with high-grade mineralization. The 2020 exploration program on the Summit Lake property will drill test multiple well defined targets; follow-up sampling and detailed mapping will advance other prospective areas in order to delineate drill targets for future programs.
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.
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