18:46:27 EDT Tue 07 May 2024
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Scottie Resources Corp
Symbol SCOT
Shares Issued 267,893,567
Close 2023-09-06 C$ 0.225
Market Cap C$ 60,276,053
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Scottie drills 3.7 m of 56.4 g/t Au at Blueberry

2023-09-06 10:39 ET - News Release

Mr. Brad Rourke reports

SCOTTIE RESOURCES DRILLS 56.4 G/T GOLD OVER 3.7 METRES AT BLUEBERRY

Scottie Resources Corp. has released the first assays from its 2023 drill program targeting the Blueberry contact zone, including intercepts of 56.4 grams per tonne gold over 3.7 metres and 12.1 g/t gold over three metres. These results are the first returned from the 20,000-metre drill campaign currently in progress. The Blueberry contact zone is located two kilometres north-northeast of the 100-per-cent-owned and royalty-free, past-producing high-grade Scottie gold mine, 35 kilometres north of the town of Stewart, B.C., along the Granduc Road.

President and chief executive officer Brad Rourke commented: "We are very pleased to start the 2023 news cycle with another bonanza-grade hole through the Blueberry contact zone. We look forward to releasing the remaining 20,000 metres of the drilling over the coming months."

This drilling campaign continues to focus on expansionary drilling of the Blueberry contact zone, extending mineralization at depth and along strike. These results support the continued delineation of the Blueberry deposit and the identification of high-grade structures within it. The company is currently finishing up drilling its 20,000-metre 2023 diamond drill program and will continue to release the assay results throughout the fall/early winter.

Recent modelling work has identified and categorized a number of significant sulphide-rich cross-structures that cut obliquely across the north-south-trending Blueberry contact zone. These structures appear parallel to the original Blueberry vein, as well as other prominent outcropping, mineralized structures in the area (such as the Bend vein). The density of the number of identified veins has increased over the previous seasons due to improved drill density and extent, and already new vein zones have been proposed for the southern end of the Blueberry contact zone structure based on preliminary observations from this year's drilling.

The drilling of the southern end of the Blueberry contact zone (Serac vein area) has identified structures that have notable increases in both silver and zinc relative to other Blueberry contact zone drilling. In 2022, the southernmost hole drilled on the structure returned 7.1 g/t gold, 113 g/t silver and 0.85 per cent zinc over 6.09 m. Drill hole SR23-234 from this release intercepted a similar intercept with 1.22 g/t gold, 356 g/t silver and 1.36 per cent zinc over 6.7 m. The relative increase in silver and zinc in the veins could be a zonation function, potentially related to proximity to the primary mineralizing source.

About the Blueberry contact zone

The Blueberry zone is located just two kilometres northeast of the 100-per-cent-owned, past-producing Scottie gold mine located in British Columbia, Canada's Golden Triangle region. Historic trenching and channel sampling of the Blueberry vein include results of 103.94 g/t gold over 1.43 metres, and 203.75 g/t gold over 1.90 metres. Despite high-grade surficial samples and easy road access, the Blueberry vein had only limited reported drilling prior to the company's exploration work. The target was significantly advanced during Scottie's 2019 drill program when an interval grading 7.44 g/t gold over 34.78 metres was intersected in a new north-south-oriented zone adjacent to the main Blueberry vein. The drill results received from 2020 to 2023, coupled with surficial mapping and sampling, suggest that the north-south mineralized trend is a first-order structure that hosts an array of southwest-trending, subparallel, sulphide-rich veins that obliquely crosscut it which host high-grade gold. As of the end of 2022, the extent of the north-south zone, defined by the contact between andesite and siltstone units of the Hazelton and the presence of the crosscutting sulphide-rich structures, has a drilled strike length of 1,550 metres and has been tested to 400 metres depth. The Blueberry zone is located on the Granduc Road, 20 kilometres north of Ascot Resources' Premier project, which is fully financed for construction. Newcrest's Brucejack mine is located 25 kilometres to the north.

Dr. Thomas Mumford, PhD, PGeo and vice-president, 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-per-cent interest in the Scottie gold mine property which includes the Blueberry zone and the high-grade, past-producing Scottie gold mine. Scottie also owns 100-per-cent 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 property. Altogether Scottie Resources holds approximately 60,000 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.

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