SCOTTIE RESOURCES INTERCEPTS 37.6 G/T GOLD OVER 4.1 M AND DISCOVERS NEW ZONE GRADING 6.85 G/T GOLD OVER 5.85 M
VANCOUVER, BC, Dec. 12, 2024 /CNW/ - Scottie Resources Corp. ("Scottie" or the "Company") (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR8) is pleased to report new assays from its 2024 drilling of Scottie Gold Mine (SGM) and the discovery of a new zone, located south of the existing mine. The new assays related to a single drill hole drilled from the south of the mine, testing new concepts and targeting areas inaccessible to previously drilled orientations. The hole resulted in the discovery of the Wolf Zone, boasting an intercept of 6.85 g/t gold over 5.85 metres, and a strong N Zone intercept of 37.6 g/t gold over 4.1 metres. The Scottie Gold Mine Project, which includes the 100% owned historic mine and the adjacent Blueberry Contact Zone is located 35 kilometres north of the town of Stewart, BC, along the Granduc Road.
Highlights from hole SR24-253:
- New multi-vein zone discovery the "Wolf Zone" intersected 6.85 grams per tonne (g/t) gold over 5.85 metres (m) including 19.4 g/t gold over 2.00 m and intersected 6.46 g/t gold over 2.15 m (Table 1, Figures 1,2)
- N Zone intercept of 37.6 g/t gold over 4.10 m (Table 1, Figures 1,2)
- Vein intercept of 18.2 g/t gold over 1.00 m may represent the southern-most N Zone veins, or the northern-most L veins
President and CEO, Brad Rourke commented: "Drillhole 353 was a multiple purpose exploration hole, evaluating the potential for parallel vein zones south of the historic mine, test lower parts of the L and N Zone's, as well as testing for the continuation of the M Zone beneath the Morris Lake Fault. The orientation of the drill hole was unique, and as such it had the opportunity to test hundreds of meters of rock that hadn't been drilled before. We are very pleased with the intersection of the new Wolf Zone as it opens up a new high-grade drill target in close proximity to the Scottie Gold Mine. Also, the very high-grade N Zone intercept is complementary to many other holes and new intercepts from this year and will help bolster the upcoming resource estimate at the Scottie Gold Mine."
Table 1: Selected results from new drill assays (uncut) from drillhole SR24-353 at the Scottie Gold Mine
Drill Hole |
From (m) |
To (m) |
Width* (m) |
Gold (g/t) |
Silver (g/t) |
|
SR24-353 |
289.85 |
292.00 |
2.15 |
6.46 |
4.7 |
|
313.50 |
319.35 |
5.85 |
6.85 |
49.1 |
||
including |
313.50 |
315.50 |
2.00 |
19.4 |
141.5 |
|
352.00 |
354.00 |
2.00 |
1.43 |
4.0 |
||
500.60 |
501.60 |
1.00 |
18.2 |
8.0 |
||
532.40 |
536.50 |
4.10 |
37.6 |
10.9 |
||
541.00 |
542.00 |
1.00 |
1.40 |
2.0 |
||
550.00 |
551.00 |
1.00 |
1.20 |
0.0 |
||
555.00 |
557.60 |
2.60 |
4.26 |
7.4 |
Wolf Zone Discovery
Drill hole SR24-353 represents the first drill test through the Wolf Zone. The existence of the zone was first considered in 2019 with the sampling of high-grade gold-rich veins at the glacier's edge in a showing named the Lone Wolf (see news dated December 17, 2019), which produced grades up to 4.04 g/t gold and 90 g/t silver. The projection of these veins to the SE, would coincide with the veins intercepted in SR24-353. The textural and mineralogical characteristics of the veins are consistent with veins zones within the Scottie Gold Mine (e.g., P, O, M, N, L), and the periodicity fits well within the model. The drill pad for SR24-353 was left up at the end of the season and will be used in 2025 for follow up drilling of the Wolf Zone.
Scottie N-Zone
The primary producing zone from the historic Scottie Gold Mine was the M Zone, which constituted >90% of the past production. The N Zone is located south and directly adjacent to the M Zone, and was identified during mine operations and drifts were extended to it, but it was not fully developed – at shutdown both the N and the L Zones were noted as having significant expansion upside at depth. The majority of the drilling through the N Zone is from historic underground drill holes, although already released drilling from 2024 has tested and expanded the N Zone yielding very strong results, e.g. SR24-330, with 8.30 over 9.70 m; SR24-334 with 6.55 g/t Au over 5.50 m; and todays release with 37.6 g/t gold over 4.1 m. When producing, the mine operated with a cut-off grade of 10 g/t gold, the grades of the historical drillholes through the N Zone would have supported the zone being modelled as having "marginal" grades for the operating conditions at the time – making other high-grade zones preferential for development and exploration i.e. O Zone. Scottie believes under current market conditions there exists exceptional upside to the continued exploration of near mine targets, notably the N and L Zones.
About the Scottie Gold Mine Project
Mineralization consists of east-west to northwest trending, steeply dipping, shear veins, that are comprised of pyrrhotite > pyrite ± quartz ± calcite. The veins are hosted in a package of andesitic volcanic rocks from the Hazelton Unuk River Formation that are situated adjacent to the contact with the Summit Lake stock, part of the Texas Creek Plutonic Suite. While 13 distinct gold-bearing vein zones have been identified on the Scottie Gold Mine Project, mine production was primarily from one vein (the M-zone).
Exploration of the Scottie Gold Mine Project over the past 6 years has produced exceptional drill results through the discovery of high-grade gold in four new zones (Blueberry Contact Zone, Domino, D-Zone, P-Zone) and the expansion of previously drill confirmed targets (Scottie Gold Mine, C-Zone, Bend Vein, Stockwork). There is a clear spatial relation between the outcropping and drill-confirmed high-grade gold targets and the contact with the Jurassic aged, Texas Creek Plutonic suite intrusion. Geological work in the area has established strong connections between the various deposits. The chemical, mineralogical, structural, and age relationships of the deposits and host rocks support a genetic model whereby all deposits are linked to the same mineralizing event.
About the Scottie Gold Mine
The Scottie Gold Mine, which operated between 1981 to 1985, produced 95,426 gold ounces from 183,147 tonnes at an average recovered grade of 16.2 g/t gold. The mine ultimately shut down due to a drop in gold price combined with high-interest rates. Mineralization consists of east-west to northwest trending, steeply dipping, shear and extensional veins, that are comprised of pyrrhotite > pyrite ± quartz ± calcite. The veins are hosted in a package of andesitic volcanic rocks from the Hazelton Group - Unuk River andesite unit that are situated adjacent to the contact with the Summit Lake stock, part of the Texas Creek Plutonic suite. While 13 distinct gold-bearing vein zones have been identified on the Scottie Gold Mine Project, mine production was primarily from one vein zone (the M-zone).
Historical drilling of the Scottie Gold Mine was largely focused on mine production, with little work done on proving up substantial resources and reserves. The majority of historical drilling was done from underground, and therefore consisted of short holes with single targets – with very restricted drill pad locations. Recent exploration by Scottie has used the benefits of drilling from surface to target areas that were inaccessible with underground drill locations, and where possible to test multiple targets with individual holes. The Scottie Gold Mine is located on the Granduc Road, 20 km north of the Ascot Resources' Premier Project, which is in the process of refurbishing their mill in anticipation of production in Q1 2024.
Quality Assurance and Control
Results from samples taken during the 2024 field season were analyzed at SGS Minerals in Burnaby, BC. The sampling program was undertaken 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 gold). Analysis by four acid digestion with multi-element ICP-AES analysis was conducted on all samples with silver and base metal over-limits being re-analyzed by emission spectrometry.
Dr. Thomas Mumford, P.Geo., 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 Scottie Gold Mine Property which includes the Blueberry Contact Zone and the high-grade, past-producing Scottie Gold Mine. Scottie also owns 100% interest in the Georgia Project which contains the high-grade past-producing Georgia River Mine, as well as the Cambria Project properties and the Sulu and Tide North properties. Altogether Scottie Resources holds approximately 58,500 hectares of mineral claims in the Stewart Mining Camp in the Golden Triangle.
The Company's focus is on expanding the known mineralization around the past-producing mines while advancing near mine high-grade gold targets, with the purpose of delivering a potential resource.
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.
SOURCE Scottie Resources Corp.
Additional Information: Brad Rourke, President and CEO, +1 250 877 9902, [email protected]; Gordon Robb, Business Development / IR, +1 250 217 2321, [email protected]
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