Scottie launches $26 million Golden Triangle program

Scottie Resources Corp. [SCOT-TSXV] said it has launched a fully funded $26 million exploration program at its Scottie Gold Mine project in British Columbia.

The company said the program is highlighted by a 50,000-metre drilling campaign at the flagship project, which is located 35 kilometres north of Stewart in B.C.’s Golden Triangle area. Exploration will be focused on expanding and upgrading high-grade gold resources at the Blueberry Contact Zone and Scottie Gold Mine. It also includes aggressive testing of multiple high priority targets across the district, including the Bend Vein, the C and D zones, the Serac Vein and Lakebed area, and the Domino target.

The program will also include approximately 2,000 metres of drilling at the Cambria Property, marking the first ever drill campaign on the project.

“We are excited to have our largest exploration program in history now underway,’’ said Scottie President and CEO Dr. Thomas Mumford. “The planned 50,000 metres of drilling represents an increase of more than 50% over all drilling previously completed by the company on the Scottie Gold Mine Project and will play a key role in advancing resource growth and conversion ahead of our planned feasibility study in the first half of 2027.’’ “With a strong team in place and a clear strategy for the season, we are well positioned to continue demonstrating the scale and potential of the district.’’

Scottie shares were unchanged at $2.25 on Tuesday and trade in a 52-week range of $3.25 and 85 cents.

Scottie holds almost 60,000 hectares of mineral claims in the Stewart mining camp. Its portfolio is highlighted by a 100% interest in the Scottie gold mine property, which includes the adjacent Blueberry zone. The company also owns a 100% interest in the Georgia Project, host to the past-producing Georgia River Mine, as well as the Cambria, Sulu, and Tide North properties.

The Scottie Gold Mine project consists of the Scottie Gold Mine, Bow, Summit Lake and Stock claim groups. The project includes the past-producing Scottie Gold mine, which operated from 1981 to 1985, producing 95,426 ounces of gold from 183,147 tonnes of mineralization.

The Scottie mine was ultimately shut down due to a drop in the gold price combined with high interest rates.

While 13 distinct gold-bearing vein zones have been identified on the Scottie Gold Mine project, mine production was primarily from one vein. The Scottie Gold Mine Project includes 703,000 gold ounces at an average grade of 6.1 g/t (inferred category) in 3.6 million tonnes, highlighted by the development potential for a significant near-surface, high grade deposit.

The company recently completed a preliminary economic assessment for the Scottie Gold Mine. It estimates initial capital costs of $128.6 million, average annual production of 65,400 ounces of gold over seven years and a payback period of 1.7 years.