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 Drills Extension of the Scottie Gold Mine M Zone: 11.72 g/t Gold and 5.83 g/t Silver
over 10.95 Metres
Vancouver, British Columbia, January 7, 2020 – Scottie Resources Corp . (“Scottie” or the “Company”)
(TSXV: SCOT) is please d 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 de termined
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 t hat the Scottie Gold Mine was neither mined out or drilled off, and that the
mineralization remains wide open . W e 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.”
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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 ± c alcite. 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 M ine 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 M ine 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 – Drill collar and trace of hole SG19 -13 on the Scottie Gold Mine (historic drill collars are from
both surface and projected underground holes).
While the Scottie Gold Mine was in operation the majority of ore was produced from the M Zone. Hole
SG19-13 s uccessfully 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.
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Figure 2 – 2019 Surficial sample results from areas around the Scottie Gold Mine and the newly
discovered Domino Zone
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.
Appointment of Chief Financial Officer
The Company is pleased to announce the appointment of Stephen Sulis as Chief Financial Officer.
Stephen Sulis has previous experience in the financial sector with TD Canada Trust and is currently
working with a number of public and private companies in the resource and technology industries
providing accounting and consulting services. Mr. Sulis graduated with distinction at Capilano
University, North Vancouver, and holds a bachelor’s degree in business administration as well as an
advance diploma in international business studies.
The Company wishes to thank outgoing Chief Financial Officer, Annie Zou, for her contributions to the
Company, and wishes her well in her future endeavours.
Shares for Debt Settlement
The Company also announces that its board o f directors has approved the settlement of $141,750 of
debt through the issuance of common shares of the Company (the " Debt Settlement"). Pursuant to the
Debt Settlement, the Company would issue 567,000 common shares of the Company (the "Shares") at a
deemed price of $0.25 per Share, to an arm’s length creditor of the Company (the "Creditor").
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The issuance of the Shares to the Creditor is subject to the approval of the TSX Venture Exchange. All
Shares issued will be subject to a four month hold period whic h will expire on the date that is four
months and one day from the date of issue.
Quality Assurance and Control
Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver,
Canada (an ISO 9001:2008 accredited facilit y). 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 a bsorption
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 Scott ie 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 Com pany’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
“Bradley Rourke”
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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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.