Scottie Resources (SCOT) - Super High Grade Gold Results

Scottie Resources Corp. is a junior gold exploration company focused on its assets in the Golden Triangle of British Columbia, Canada. The Scottie Gold Mine project of the company is an 8,534-hectare land package located 32 km north of Stewart, British Columbia. The project consists of 20 mineral claims and 14 Crown-granted claims and includes the past-producing Scottie Gold Mine. The mine operated between 1981 and 1985 and produced approximately 95 thousand ounces of gold in that time at an average feed grade of 16.2 g/t.

Scottie Resources Corp. announced on the 3^rd of November 2022, that it had entered into various agreements to acquire all of the outstanding royalties on its Scottie Gold Mine project. The Summit Lake property will be acquired through the issuing of 2.5 million common shares of the company to the vendor with the Scottie Gold Mine royalty being acquired for CAD$ 1.6 million. The company also completed the staking of the Georgia project, which hosts the high-grade past-producing Georgia River mine.

Scottie Resources Corp. completed more than 17,000 m of drilling initiatives at its Scottie Gold mine project in 2022. The drilling initiatives were primarily focused on the project’s Blueberry contact target, where 15,000 m of drilling was conducted.

The company on the 8^th of November 2022, published assay results from its exploration initiatives at the Blueberry contact zone of the Scottie Gold Mine project. The highlights of the assay results include 20.3 g/t of gold over a mineralisation interval of 2.1 m as well as 8.9 g/t of gold over 6.12 m and 7.65 g/t of gold over 7.53 m. The company on the 10^th of November further published additional assay results from the blueberry contact zone, which showed mineralisation of up to 9.79 g/t of gold over 25 m which included 161 g/t of gold over 1.3 m.

Scottie Resources Corp. sits with a cash position of approximately CAD$ 2.2 million, with no debt. The company has various financing avenues available to it, with the option to sell some of its land holdings possible, as well as the option of royalties on its existing projects. The company plans to raise between CAD$ 10 million and CAD$ 15 million in the coming year with the equity raise planned to consist of charity flow-through shares.

Management

The company is led by Bradley Rourke, who serves as the President, Director and CEO of Scottie Resources Corp. Rourke has more than 30 years of experience in mining, energy and real estate and has been involved with various successful start-ups.

Thomas Mumford is the Vice President of Exploration for the company and is a registered professional geologist with the Association of Engineers and Geoscientists in British Columbia (EGBC). He has extensive experience in the Golden Triangle mining district and holds a PhD from Carleton University, which is focused on magmatic controls for the Thor Lake REE deposit in the Northwest Territories.

Stephen Sulis is the Chief Financial Officer of the company and currently serves as the CFO for various TSX-V and CES-listed companies. He is well-versed in the implementation of accounting software, various equity financing and the implementation of internal control policies.

Christina Boddy is the company’s Corporate Secretary. She has served as the Corporate Secretary for a number of public companies in recent years, including Nevada Sunrise Gold Corporation, ALX Uranium Corp. and Aton Resources Inc.

Ernest Mast, John Williamson and Steven Stein are Directors of the company and have more than 75 years of combined experience in the management of publicly traded mining companies in Canada. 

Scottie Gold mine project

The Scottie gold mine project of the company holds a land position of approximately 8,500 hectares and is located 32 km north of Stewart, British Columbia. The project consists of 20 mineral claims and 14 Crown-granted claims and includes the past-producing Scottie Gold Mine. The mine operated between 1981 and 1985 and produced approximately 95 thousand ounces of gold in that time at an average feed grade of 16.2 g/t.

The project holds an active mining permit and is readily accessible through Granduc Road with the Brucejack Power Transmission Line 1 km east of the project. The project holds a 200-ton-per-day mill as well as underground infrastructure including 6 portals, shafts, a rail system, and 7 km of drifts. Rourke explains the project as ideally located, with all necessary infrastructure in place and available to the company.

“The Bruce Jack power line is on our property borders. There's deep water shipping 40 km down the road. We have the town of Stewart to help support the camp effort, so it's just a lot easier for us than perhaps the other people in our area who are also working hard and doing very, very good things. We just happen to be blessed. Again, we have a mining permit. We are an exploration team, but it makes us unique in that way as well.”

Scottie Resources Corp. announced on the 3^rd of November 2022, that it had entered into various agreements to acquire all of the outstanding royalties on its Scottie Gold Mine project. The Summit Lake property will be acquired through the issuing of 2.5 million common shares of the company to the vendor with the Scottie Gold Mine royalty being acquired for CAD$ 1.6 million.

High-grade mineralisation

Scottie Resources Corp. completed more than 17,000 m of drilling initiatives at its Scottie Gold mine project in 2022. The drilling initiatives were primarily focused on the project’s Blueberry contact zone, where 15,000 m of drilling was conducted. The company also completed approximately 2,200 m of drilling at other targets of the project.

The company on the 8^th of November 2022, published assay results from its exploration initiatives at the Blueberry contact zone of the Scottie Gold Mine project. The highlights of the assay results include 20.3 g/t of gold over a mineralisation interval of 2.1 m as well as 8.9 g/t of gold over 6.12 m and 7.65 g/t of gold over 7.53 m. The company on the 10^th of November further published additional assay results from the blueberry contact zone, which showed mineralisation of up to 9.79 g/t of gold over 25 m which included 161 g/t of gold over 1.3 m.

Rourke explains that the company is happy with its exploration initiatives and that the initiatives have been able to support the company’s belief that the project holds multiple high-grade gold structures.

“…the structure is holding in and we're getting these widths, which is unique, I think people need to look at the widths of this again. The Golden Triangle is known for some high grades, and we have it at the Scottie project. We've been drilling four zones but this year we just focused on the Blueberry.”

Future initiatives

Scottie Resources Corp. sits with a cash position of approximately CAD$ 2.2 million, with no debt. The company has various financing avenues available to it, with the option to sell some of its land holdings possible, as well as the option of royalties on its existing projects.

“I don't want to put all my drill results out and then people know that there are no more catalysts, so I'm aware of that. But we have optionality because it is such a vast land package. People ask me, would you like to piece this off or piece that off? That gives me optionality. As I'm royalty-free, everything north of Ascot, these royalty companies are looking at this, and that also gives me optionality.”

Rourke also explains that the company will look at a small capital raise, which will minimally dilute its shares.

“I could do things differently, I could do a little bit that would be non-dilutive, potentially. Let's say that that pie chart of all my institutions, they're not worried about dilution and wanting to keep up with their percentages. I can stomach that kind of dilution as long as you're not bringing a whole bunch of johnny-come-lately to the story because we do have these very solid people that have been supporting me. “

Rourke explains that the company’s future equity raises will consist primarily of flow-through shares with it planning to raise between CAD$ 10 million and CAD$ 15 million in the future.

“I'm going to raise between CAD$ 10 million and CAD$ 15 million without a doubt, charity flow-through is really good right now. CAD$ 1.5 million is what I could receive. I've never had a problem raising money thus far, and I certainly don't anticipate it being any more difficult than it has been. I think it's going to be easier.”

The company enjoys the support of its shareholder register with Rourke explaining that the majority of its shareholders support the company’s initiatives to future expand its projects.  Scottie Resources Corp. has also garnered the interest of various institutions which have seen the potential of the company through its high-grade exploration results.

“My bigger shareholders are supporting that we keep going. I did a little financing at Beaver Creek; apart from Gold 2000, it was all existing, except for one or two people. Zurich, they were brought in through my big Swiss family office. We are opening the eyes of the people that I wanted to get attention from, from years ago, and even at this conference my card is pretty full, but really with people who probably wouldn't take meetings with me before. They are waking up.”

To find out more, go to the Scottie Resources website