Scottie Resources Corp SCOT

VANCOUVER, BC, March 2, 2023 /PRNewswire/ - Scottie Resources Corp. ("Scottie" or the "Company") (TSXV: SCOT) (OTCQB: SCTSF) (FSE: SR8) is pleased to report new assays on its Blueberry Zone including a high-grade intercept of 17.4 g/t gold over 6.57 metres in drillhole SR22-217. Scottie also confirms high grade mineralization in its furthest expansionary hole (SR22-227) along the southern extension of the Blueberry Contact zone where 7.10 g/t gold over 6.09 metres was intercepted. The total strike length of the system now extends over 1,550 metres, representing an increase of over 110% from 2021.

• Deep test hole SR22-217 returned 17.4 g/t gold over a core length of 6.57 m including 56.6 g/t gold over a core length of 1.60 m (Figure 1).
• Furthest southern extension test hole SR22-227 returned 7.10 g/t gold over a core length of 6.09 m.
• Extends strike length of system by 100 m to a total of 1.55 km (Figure 1).
• Geophysics and mapping have confirmed that the contact extends an additional untested 600 m to the south (Figure 2). Targets along this section will be tested during the 2023 drill program.
• Drill hole SR22-218 returned 48.5 g/t gold over a core length of 2.00 m in a 55 m step out from the nearest reported hole (Figure 1).
• Infill holes between high grade structures defined in 2021 demonstrate the continuity of the mineralizing system along the contact (Figure 1).

VP Exploration, Dr. Thomas Mumford: "2022 was a transformative year for our understanding and expansion of the Blueberry Contact Zone. Utilizing just 17,000 metres of diamond drilling, our aggressive approach fundamentally redefined the scale of the target this past season. The outstanding result of both doubling of the strike length of the system and increasing the depth by more than 75% to 400 metres, is made that much more significant with the fact that the high-grade mineralization occurs at these furthest tested margins. Drilling in 2023 will pick up where we left off last year and continue expand the boundaries of the system, as well as follow up on numerous peripheral targets like the C and D zones."   

This release constitutes the final results from Scottie's 2022 drill program on the Blueberry Contact Zone. All significant intercepts that occur along the Blueberry Contact Zone have now been reported. Drill results from other exploration targets are under review and will be reported following a detailed interpretation.

About the Blueberry Contact Zone

The Blueberry Zone is located just 2 kilometres northeast of the 100% 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 splay off zone of the main Blueberry Vein. The drill results received in 2020 and 2021, coupled with surficial mapping and sampling suggest that this splay is in fact a major N-S mineralized structure, of which the Blueberry Vein was only a secondary structure. The zone is steeply dipping, and there is no current restraint on its potential depth; the mineralization at the adjacent Scottie Gold Mine has a vertical extent greater than 450 metres. The Blueberry Zone is located on the Granduc Road, 20 kilometres north of the Ascot Resources' Premier Project, which is fully financed for construction (Dec 12, 2022). Newcrest's Brucejack Mine is located 25 kilometres to the north.

Table 1: Selected results from new drill assay results (uncut) from the Blueberry Contact Zone.

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.

Quality Assurance and Control

Results from samples taken during the 2022 field season were analyzed at SGS Minerals in Burnaby, BC. The sampling program was undertaken under the direction of Dr. 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 absorption spectrometry and gravimetric finish when required (+9 g/t gold). Analysis by four acid digestion with multi-element ICP-AES analysis was conducted on all samples with silver and base metal over-limits being re-analyzed by emission spectrometry.

ABOUT SCOTTIE RESOURCES CORP.

Scottie owns a 100% 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% 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 more than 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.

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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SOURCE Scottie Resources Corp.