Mr. Brad Rourke reports
SCOTTIE RESOURCES PROVIDES UPDATE ON BULK SAMPLE AND DRILLING PROGRESS
Scottie Resources Corp. has provided an update on the field program under way on its Scottie gold mine project. After having received the bulk sample permit last week, Scottie has quickly mobilized contractors and equipment, and has completed the first blast for the sample. The project includes the historic Scottie mine and the adjacent Blueberry contact zone and is located 35 kilometres north of the town of Stewart, B.C., along the Granduc Road. The bulk sample is intended for exploration purposes only and is not considered a production decision.
Program highlights:
- Bulk sample:
- First blast completed -- have begun separating the mineralized rock;
- Expected to produce 3,000 to 4,000 tonnes of mineralized rock;
- Begun sampling for various technical studies, including comminution testing and metallurgical work;
- Diamond drilling continues:
- To date, a total of 7,800 metres of drilling has been completed;
- Currently operating three diamond drills, fourth has been mobilized to site with the fourth drill crew expected to arrive in the coming weeks;
- Hydrogeology holes completed, and geotechnical drilling to commence next week to characterize the rocks mass for open-pit and underground mining.
"Very proud of our team's ability to react quickly and facilitate the bulk sample mining. After just receiving the permit a couple of weeks ago, the team was able to mobilize the equipment and contractor in order to have our first blast," commented Brad Rourke, chief executive officer of Scottie. "On the drilling front, with over 7,500 m drilled since the start of July, we are well under way to deliver our largest program to date -- and happy to report we've noted multiple instances of visible gold in the core. We look forward to providing positive news flow throughout the fall."
Next steps
The current blast is being separated into mineralized and unmineralized piles. Once completed, a second round of drilling and blasting will be completed. The blasting and excavation of the sample are expected to occur by the end August, with the transportation of the sample in September. The sample material will be transported to third party facilities for off-site processing, testing and analysis. Status updates and technical data including recoveries, comminution properties and ore sorting performance will be provided as they become available. These data will be invaluable for the progression of the Scottie gold mine direct shipping ore project as the bulk sample represents a proof of concept.
Clarification on economic potential
While Scottie is encouraged by the potential to generate technical data from the bulk sample, no economic analysis has been completed, and no mineral reserves have been defined on the Scottie gold mine project. Any reference to potential revenue from sample processing is speculative and does not imply economic viability. A production decision has not been made, and no feasibility study has been completed. Should results prove positive, proceeds may be used for working capital or further exploration; however, there is no assurance they will support future exploration or development decisions.
Scottie Resources' president, Dr. Thomas Mumford, PGeo, a qualified person" as defined in National Instrument 43-101, has reviewed the technical information contained in this news release on behalf of the company.
About Scottie Resources Corp.
Scottie Resources holds a 100-per-cent interest in the Scottie gold mine property, which includes the high-grade, past-producing Scottie gold mine and the adjacent Blueberry contact zone. The company also owns a 100-per-cent interest in the Georgia project, host to the past-producing Georgia River mine, as well as the Cambria, Sulu and Tide North properties. In total, Scottie controls approximately 58,500 hectares of highly prospective mineral claims within the Stewart mining camp in British Columbia's Golden Triangle -- one of the world's most prolific mineralized districts.
Scottie's current resource estimate on the Scottie gold mine project includes a total of 703,000 gold ounces at an average grade of 6.1 grams per tonne (inferred category), highlighting the potential for a significant near-surface, high-grade deposit. The company's strategy is to continue expanding this resource and to define additional mineralization around past-producing mines through systematic drilling and surface exploration.
In parallel, Scottie is evaluating a potential direct shipping ore scenario at the Scottie gold mine. With permits recently in hand, a 10,000-tonne bulk sample is soon to commence. This initiative provides an opportunity to collect key geotechnical and metallurgical data while assessing a low-capital-expenditure path to potential near-term revenue through toll milling or third party processing. This DSO concept does not imply a production decision but reflects the optionality embedded in Scottie's portfolio.
We seek Safe Harbor.
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