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Scottie Resources Drills Extension of the Scottie Gold Mine M Zone: 11.72 g/t Gold and 5.83 g/t Silver over 10.95 Metres

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Scottie Resources Drills Extension of the Scottie Gold Mine M Zone: 11.72 g/t Gold and 5.83 g/t Silver over 10.95 Metres

 

 

 

 

 

Scottie Resources Corp. (TSX-V: SCOT) is pleased to report drill results from the Scottie Gold Mine Property. Results from drill hole SR19-13 include 7.27 g/t gold and 3.83 g/t silver over 25.02 m, which includes 11.72 g/t gold and 5.83 g/t silver over 10.95 m. Drill results include an extension of the historic M Zone of the 100% owned Scottie Gold Mine which produced 95,426 oz at an average recovered grade of 16.25 g/t gold. The Scottie Gold Mine is located in British Columbia’s Golden Triangle, 20 km south of Pretium’s Brucejack Mine.

 

Table 1 – Significant Intercepts from 2019 drilling on the Scottie Gold Mine

 

Drill Hole   From (m) To  (m) Width* (m) Gold (g/t) Silver (g/t) Area
SR19-13   68.63 71.00 2.37 1.38 20.92 SGM
  including 70.25 71.00 0.75 3.00 25.30 SGM
    85.29 93.43 8.14 1.43 11.01 SGM
  including 89.07 93.43 4.36 1.93 11.42 SGM
  and including 89.85 92.43 2.58 2.93 16.79 SGM
    151.53 174.00 22.47 1.29 2.03 SGM
  including 160.43 172.00 11.57 1.94 2.83 SGM
  and including 168.57 172.00 3.43 5.09 5.99 SGM
    249.62 250.68 1.06 3.78 4.80 SGM
    484.55 509.57 25.02 7.27 3.83 SGM – M Zone
  including 484.55 495.50 10.95 11.72 5.83 SGM – M Zone
  and including 508.54 509.57 1.03 50.40 16.00 SGM – M Zone

 *True width is uncertain as the orientation of the mineralized zones has not been determined sufficiently

 

“We are thrilled with the results from our single 2019 hole into the Scottie Gold Mine. At 539 m, it is the longest hole ever drilled at Scottie,” said Dr. Thomas Mumford, the Company’s VP, Exploration. “Assays from SG19-13 confirm that the Scottie Gold Mine was neither mined out or drilled off, and that the mineralization remains wide open. We look forward to testing its extent and finding additional high-grade ounces in 2020, as well as confirming its connection to the newly discovered high-grade Domino Zone, located on strike just 1.9 km due west of the past-producing Scottie Gold Mine M Zone.”

 

Scottie Gold Mine

 

The Scottie Gold Mine operated from 1981 – 1984, ultimately shutting down due to a drop in gold price combined with high-interest rates. During operation the mine produced 95,426 oz at an average recovered grade of 16.25 g/t gold. 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 volcanics 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.

 

Historical drilling of the Scottie Gold Mine was largely focused on mine production, with little work done on proving up substantial resources. The majority of historical drilling was done from underground, and therefore consisted of short holes with single targets – with very restricted drill pad locations. Hole SG19-13 was the longest hole ever drilled at Scottie, and because it was drilled from surface it was able to target zones inaccessible to previous underground operators. The parallel nature of the mineralizing veins in the Scottie Gold Mine naturally lend themselves to long holes that test multiple targets with a single drill hole. Results from this first hole confirm this principle, and have also provided invaluable information on alteration styles and drill hole deviation.

 

Figure 1 – is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/55bb9a7b-99c7-4777-8bd8-78555c4e5adc

 

While the Scottie Gold Mine was in operation the majority of ore was produced from the M Zone. Hole SG19-13 successfully targeted the lower extension of the M Zone. Within SG19-13, the M Zone intercept (11.72 g/t gold over 10.95 m) is located 50 m from the nearest historic M zone intercept. Future drilling will continue to step out at depth and along strike.

 

Figure 2 is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/e98e1b51-ef72-4c05-b21a-ab41436365b8

 

The east-west to northwest trend of mineralization at the Scottie Gold Mine is on strike with the Company’s Domino Zone, a new high-grade surficial discovery made during the 2019 field season (see release dated November 14, 2019). Located just 1.9 km apart, drilling and field work during the 2020 field season will assess the association and continuity of mineralization between Scottie Gold Mine and the Domino Zone.

 

The Scottie Gold Mine 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.

 

Posted January 8, 2020

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