Scottie Resources Announces Maiden Mineral Resource Estimate for the Scottie Gold Mine DSO Project
Scottie Resources Announces Maiden Mineral
Resource Estimate for the Scottie Gold Mine
DSO Project
Vancouver, British Columbia--(Newsfile Corp. - May 7, 2025) -
Scottie Resources Corp. (TSXV: SCOT)
(OTCQB: SCTSF) (FSE: SR80) ("
Scottie
" or the "
Company
") is pleased to announce the completion
of a maiden Inferred Mineral Resource Estimate of 703,000 ounces of gold consisting of 528,000
ounces at 8.7 g/t of underground resources and 174,000 ounces at 3.2 g/t in the shallow pit constrained
resource, for its 100% owned Scottie Gold Mine Project, which includes the historic mine and the
adjacent Blueberry Contact Zone that are located 35 kilometres north of the town of Stewart, BC, along
the Granduc Road.
Highlights:
High-quality Maiden Mineral Resource Estimate:
Inferred Mineral Resource Estimate ("MRE")
of 703,000 ounces of gold at an average grade of 6.1 g/t gold and assumes a phased open pit
and underground mining scenario. The opportunity to further expand both the open pit and
underground resources exists as the deposits are open in several directions. Tables 1 and 3
provides summaries of the mineral resource and sensitivity to cutoff grade.
Optimized for DSO Concept:
The MRE was designed around mining a shallow open pit in the
initial years, minimizing initial capital and using early cashflows to fund the development of the
higher-grade underground resources. The high-quality ounces contained within the MRE will be
further leveraged when coupled with the recent excellent sorting study results (
NR April 1, 2025
).
The pit provides a potential short ramp up phase to production, flexibility, and low operational risk.
This is complemented by the higher-grade underground resource which commands higher payable
terms from Asian smelters, avoiding the need for a processing plant on site. The envisioned
project greatly benefits from existing infrastructure, including roads, close proximity to a deep-
water shipping port, and nearby power lines. By design the DSO project will be a high-margin,
variable cost model with industry leading low initial capital costs resulting in a quick investment
payback.
Upside Exploration Potential:
During the 2025 exploration drilling campaign Scottie will focus
on converting the resources from inferred to indicated with infill drilling as well as expansionary
drilling on high quality targets close to the deposits. The company notes a particular benefit in
targeting the un-drilled pit-constrained envelope on the siltstone side of the deposit (a high-
confidence target), as any additional ounces discovered will convert waste to resources and
significantly improve the contained ounces. Exploration around the rest of the project will target
zones that offer significant upside potential to provide high-grade resources near infrastructure, for
example the newly discovered Wolf Zone (
NR December 12, 2024
).
Advancing to a Preliminary Economic Assessment ("PEA"):
With a positive MRE in place,
Scottie will continue to accelerate the project and expects to complete a DSO based PEA before
the end of 2025.
Industry Leading Discovery Performance and Costs:
The resource at the
Blueberry
Contact Zone
constitutes only approximately 43,000 metres of drilling in 269 holes (97% drilled in
the past 6 years) for a very low discovery cost of
12.25 gold ounces discovered per metre
drilled
. At the historical
Scottie Gold Mine
, the resource constitutes approximately 45,000 metres
of drilling (31% drilled in the past 6 years) for a discovery cost of
3.56 gold ounces discovered
per metre drilled
. Scottie Resource's weighted average all-inclusive drill cost over the past 6
years is $357.50 per metre (Table 2).
Brad Rourke, President and CEO of Scottie stated: "The release of the MRE is a significant milestone
for the company as we advance our DSO project through studies towards production. Establishing a
high-grade base resource is the first step in clearly illustrating the high margin value of Scottie's road-
accessible deposits. A key aspect for us was the limited drilling needed to characterize this initial
resource, which we believe signifies the considerable upside available through continued exploration.
The more we drill the more high-quality gold we find, and this upcoming season will exemplify that as we
plan on executing our largest program to date."
Table 1:
Summary and Sensitivity of Inferred MRE for the Scottie Gold Mine Project.
Blueberry Pit Resource
Source
Cutoff Au
Tonnage
Au
NSR
Au Metal
(g/t)
(ktonnes)
(g/t)
($CDN)
(kOz)
Blueberry Pit
(Inferred)
0.25
2,887
2.06
156.04
191
0.3
2,712
2.17
164.69
190
0.5
2,114
2.68
202.51
182
0.7
1,707
3.17
239.73
174
1
1,323
3.85
290.19
164
2.5
600
6.61
492.83
128
5
273
10.35
755
91
Total Underground Resource
Source
Cutoff Au
Tonnage
Au
NSR
Au Metal
(g/t)
(ktonnes)
(g/t)
($CDN)
(kOz)
Blueberry and
Scottie Mine
Underground
(Inferred)
2.5
1,897
8.66
678.51
528
3
1,704
9.33
731
511
3.5
1,549
9.94
778.78
495
4
1,404
10.59
829.04
478
4.5
1,269
11.26
881.69
459
5
1,143
11.98
937.99
440
10
520
18.05
1,413.75
302
Inferred
varies
3,604
6.06
470.69
703
Notes to the 2025 Resource Table:
1
.
Resources are reported using the 2014 CIM Definition Standards and were estimated using the
2019 CIM Best Practices Guidelines, as required National Instrument 43-101 - Standards of
Disclosure for Mineral Projects ("NI 43-101")
2
.
The base case MRE has been confined by "reasonable prospects of eventual economic
extraction" shape using the following assumptions:
Metal price of US$2000/oz gold
Metallurgical recovery of 90% gold
Payable metal of 99% gold in doré
Forex of 0.74 $US:$CDN
Processing costs of CDN$24 / tonne milled, which includes milling, transport, smelter treatment,
refining and General & Administrative (G&A) costs
Underground production cost of CDN$78 / tonne, and underground development costs to be
CDN$90 / tonne, for a total underground mining cost of CDN$168 / tonne
Open pit mining costs of CDN$3.00 / tonne for mineralized and waste material
45-degree pit slopes
The 130% price case pit shell is used for the confining shape with elevation adjustment of the
main Blueberry pit for the underground resource.
3
.
The resulting net smelter return is NSR = Au g/t* CDN$98.60 / g * 90% recovery rate
4
.
Numbers may not add due to rounding
5
.
Mineral resources are not mineral reserves and do not have demonstrated economic viability.
There is no certainty that all or any part of the estimated mineral resources will be converted into
mineral reserves
Maiden Mineral Resource Estimate
The Inferred MRE is comprised of 703,000 ounces of gold contained within 3.6 million tonnes grading an
average of 6.1 g/t gold (Table 1) and assumes a combined open pit and underground mining operation.
The resource contains the Scottie Gold Mine and the Blueberry Contact Zone (including the Bend vein).
The road accessible deposits comprise intrusion-related Au-pyrrhotite mineralization hosted in early
Jurassic-aged intermediate volcanics and fine-grained sediments.
The MRE for the Scottie Gold Mine Project has been estimated using a 2.5 g/t gold cutoff for the
underground resources and a 0.7 g/t gold cutoff for the open pit. These cutoffs more than cover the cost
as summarized in the Notes to Table 1 and therefore satisfy the requirements of reasonable prospects
for eventual economic extraction. Tables 2 summarizes the underground resource at each deposit
separately, illustrating the sensitivity of the resource to the cutoff grade.
The base case NSR calculations is done at a gold price of US$2000, well below the current spot price of
more than US$3200, and below the 3-year trailing average. The planned PEA will estimate the
sensitivity of the project's economics to the gold price.
Due to the factors governing a DSO project, the resource team prioritized high-grade minable ounces
(small pit, high-grade underground) over a larger resource with lower grades (deep open pit) in the
maiden MRE in order to maximize profit. Further optimization of the pit depth and mine sequencing will
be particular focuses in the upcoming PEA study.
Table 2:
Drill hole statistics on the MRE and Scottie Gold Mine Project
Scottie Gold Mine
Blueberry
# Pre-2019 Drill Holes
392
21
2019-2024 Drill Holes (% of
total)
53 (31%)
248 (97%)
Total # Drill Holes
445
269
Total Metres Drilled
44,962
43,104
Holes in Resource
299
210
Metres in Resource
30,261
36,129
% Holes in Resource
67%
78%
% Metres in Resource
67%
84%
Gold Oz in Resource
160k
542k
Gold Oz Discovered Per M
3.6
12.6
Table 3: Breakdown and Sensitivity of Underground Inferred MRE for the Scottie Gold Mine
and Blueberry Contact Zone
Blueberry Underground Resource
Source
Cutoff Au
Tonnage
Au
NSR
Au Metal
(g/t)
(ktonnes)
(g/t)
($CDN)
(kOz)
Blueberry
Underground
2.5
1,200
9.54
747.2
368
3
1,092
10.22
800.2
359
3.5
1,013
10.76
842.41
350
4
931
11.38
890.99
341
4.5
846
12.09
946.81
329
5
775
12.76
999.57
318
10
405
18.04
1,412.86
235
Scottie Underground Resource
Class
Cutoff Au
Tonnage
Au
NSR
Au Metal
(g/t)
(ktonnes)
(g/t)
($CDN)
(kOz)
Scottie
Underground
2.5
697
7.15
560.26
160
3
612
7.76
607.52
153
3.5
536
8.41
658.52
145
4
473
9.03
707.09
137
4.5
423
9.60
751.44
130
5
368
10.32
808.31
122
10
115
18.09
1,416.87
67
National Instrument 43-101 Disclosure
The effective date of the MRE, completed by Moose Mountain Technical Services is February 2, 2025.
The Company will file a National Instrument 43-101 (NI 43-101) technical report on SEDAR+ within the
mandated 45-day period following the date of this press release.
Sue Bird, P.Eng., of Moose Mountain Technical Services, who is independent of the Company, has
reviewed and approved the scientific and technical information herein regarding the Scottie Gold Mine
Project. Ms. Bird was responsible for the Scottie Gold Mine Project Mineral Resource Estimate and has
approved the information pertaining to the Scottie Gold Mine Project in this news release.
The QP for the Mineral Resource Estimate is not aware of any environmental, permitting, legal, title,
taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the
potential development of Mineral Resource Estimate. Factors that may affect the estimates include:
metal price assumptions, changes in interpretations of mineralization geometry and continuity of
mineralization zones, changes to interpolation assumptions, metallurgical recovery assumptions,
operating cost assumptions, confidence in the modifying factors, including assumptions that surface
rights to allow mining infrastructure to be constructed will be forthcoming, delays or other issues in
reaching agreements with local or regulatory authorities and stakeholders, and changes in land tenure
requirements or in permitting requirement.
Dr. Thomas Mumford, P.Geo. has reviewed the technical information contained in this news release on
behalf of the Company.
Each of Ms. Bird, and Dr. Mumford are Qualified Persons as defined in NI 43-101.
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.
Additional Information
Brad Rourke
President and CEO
+1 250 877 9902
Gordon Robb
Business Development / IR
+1 250 217 2321
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.
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https://www.newsfilecorp.com/release/251148