VANCOUVER, British Columbia, Jan. 26, 2021 (GLOBE NEWSWIRE) -- Scottie Resources Corp. (“Scottie” or the “Company”) (TSXV: SCOT) is pleased to report drilling results on the O-Zone target, part of the Scottie Gold Mine including 2.26 g/t gold and 6.53 g/t silver over 19.04 m, which includes a high-grade interval of 10.7 g/t gold and 31.2 g/t silver over 2.77 metres. The four holes drilled at O-Zone during 2020 demonstrate that the high-grade zone is open in most directions. Drilling will continue in 2021 to expand the zone. The Scottie Gold Mine is the flagship project of the Company, is road accessible with excellent existing infrastructure, and is located 40 km north of Stewart, BC, in the Golden Triangle. The Company completed 7,040 m of drilling in 46 holes during 2020 and will continue to disclose additional results through to February 2021.
CEO, Bradley Rourke commented: “Historically the O-zone produced some of the highest-grade gold intercepts in and around the Scottie Gold Mine. Oriented parallel and only 100 metres to the north of the main producing vein, and being connected to the mine with existing tunnels, all combine to make this a prime exploration target. Our expansionary drilling around the target has shown that it remains open in most directions, and that the exceptional grades that it is known for are also continuous – confirmed by our intercept of 109.4 g/t gold over 2.53 metres earlier this year.”
|Drill Hole||From (m)||To (m)||Width* (m)||Gold (g/t)||Silver (g/t)|
Table 1: 2020 O-Zone drill results. *True width is estimated to be 80-90% of interval width. **Previously released hole (October 6, 2020).
Scottie Gold Mine - O-Zone
The Scottie Gold Mine, which operated from 1981 to 1985, milled vein material averaging 16.2 grams per tonne of recovered gold, producing 95,426 ounces of gold from 183,147 tonnes of mineralization. The O-Zone is the northern most of 6 parallel mineralized structures identified during operation of the past-producing Scottie Gold Mine, and it contained some of the highest-grade intercepts from the mine, including 107 g/t gold over 4.18 metres. The near surface target saw only negligible production prior to the mine shutting down in 1985, and despite its exceptional gold grades has seen no exploration drilling prior to the Company’s involvement.
Figure 1: Long-section view of the O-Zone is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c5ba5298-0d43-42cc-b7cd-15fed5a4963d
The 2021 drill program for Scottie Resources will continue to step out from mineralization around the O-Zone, testing for high-grade ore shoots similar to those observed in the adjacent M-Zone. Drilling will commence as soon as the melting snowpack permits, estimated to be in early-July.
Figure 2: Drill core from hole SR20-27 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ca6e59ed-7437-438e-b34f-fa9ad90dce13
Quality Assurance and Control
Results from samples were analyzed at MSALABS in Langley, Canada (an ISO 9001 accredited facility). The sampling program was undertaken by Company personnel under the direction of Dr. 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 (+9 g/t Au). Analysis by four acid digestion with 48 element ICP-MS analysis was conducted on all samples with silver and base metal over-limits being re-analyzed by emission spectrometry.
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 and Bow properties and has the option to purchase a 100% interest in Summit Lake claims which are contiguous with the Scottie Gold Mine property. Scottie also owns 100% interest in the Cambria Project properties and the Sulu property. Scottie Resources holds more than 25,000 ha of mineral claims in the Golden Triangle.
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.
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.