Scottie Resources

The Scottie Gold Mine, which operated between 1981 to 1985, produced 95,426 gold ounces from 183,147 tonnes at an average recovered grade of 16.2 g/t gold. The mine ultimately shut down due to a drop in gold price combined with high-interest rates. Mineralization consists of east-west to northwest trending, steeply dipping, shear veins, that are comprised of pyrrhotite > pyrite ± quartz ± calcite. The veins are hosted in a package of andesitic volcanic rocks from the Hazelton Unuk River Formation that are situated adjacent to the contact with the Summit Lake stock, part of the Texas Creek Plutonic Suite. While 13 distinct gold-bearing vein zones have been identified on the Scottie Gold Mine Project, mine production was primarily from one vein (the M-zone).

Historical drilling of the Scottie Gold Mine was largely focused on mine production, with little work done on proving up substantial resources. The majority of historical drilling was done from underground, and therefore consisted of short holes with single targets – with very restricted drill pad locations. Recent exploration by Scottie has used the benefits of drilling from surface to target areas that were inaccessible with underground drill locations, and where possible to test multiple targets with individual holes. The Scottie Gold Mine is located on the Granduc Road, 20 km north of the Ascot Resources’ Premier Project, which is in the process of refurbishing their mill in anticipation of production in Q1 2023 (December 7, 2021). It is also located 25 km south of the Brucejack Mine that was the main asset acquired by Newcrest Mining Limited for $3.5 billion in its acquisition of Pretium Resources.

Cash: CAD$3M
Debt: NIL

Major shareholders: