SCOT Scottie Resources Corp

In a release issued Tuesday, October 31, 2023, by Scottie Resources Corp (TSXV: SCOT), please note that the headline should have read "Scottie Resources Intercepts 13 G/T Gold Over 8.5 Metres and 10.4 G/T Gold Over 7.65 Metres at Blueberry Contact Zone" and not "Scottie Resources Intercepts 8.5 G/T Gold Over 13 Metres and 7.65 G/T Gold Over 10.4 Metres at Blueberry Contact Zone" and that the table was correct. The corrected release follows:

SCOTTIE RESOURCES INTERCEPTS 13 G/T GOLD OVER 8.5 METRES AND 10.4 G/T GOLD OVER 7.65 METRES AT BLUEBERRY CONTACT ZONE

VANCOUVER, BC, Oct. 31, 2023 /CNW/ - Scottie Resources Corp. ("Scottie" or the "Company") (TSXV: SCOT) is pleased to report new assays on the Scottie Gold Mine Project in British Columbia's Golden Triangle, including several high-grade intercepts on the Road and Fifi vein zones along the Blueberry Contact. Together the results continue to define the high-grade, outcropping deposit and provide valuable context and insight into the structural details of the system. The Blueberry Contact Zone is located 2 kilometres north-northeast of the 100% owned and royalty free, past-producing high-grade Scottie Gold Mine, 35 kilometres north of the town of Stewart, BC, along the Granduc Road.

Highlights:

• Road zone drillhole SR23-261 intersected 10.4 grams per tonne (g/t) gold over 7.65 metres (m) including 51 g/t gold over 1 m (Table 1, Figures 1,2,5)

• Drillhole SR23-264 targeted the Fifi vein zone, intersecting 88.4 g/t gold over 2.00 m and 4.41 g/t gold over 4.5 m (Table 1, Figures 1,3,5)
  • High-grade intercepts occur on the siltstone side of the Blueberry Contact

• Drillhole SR23-273 targeted the Fifi vein zone, intersecting 13.0 g/t gold over 8.5 m and 5.12 g/t gold over 2.00 m (Table 1, Figures 1,4,5)
  • Intercept occurs at a depth from surface of approximately 145 m

President and CEO, Brad Rourke commented: "These additional results from the Blueberry Contact Zone exceed our expectations and further confirm our view that we have begun to delineate a high-grade gold system that extends to surface. Year after year our team continues to successfully execute on our ever-increasing exploration plans. This year we completed our biggest program to date, with 20,000 m of drilling – and finished 2 weeks early and over $1 M under budget, a remarkable feat in a period of rapid cost increases."

The higher-grade intercept in SR23-264 is particularly notable as it occurs on the siltstone side of the Blueberry Contact, and at an appreciable lateral distance from the contact (60 m). Previous drilling assumed the majority of the high-grade mineralization was confined to the andesite side of the system, and that extensions into the siltstone were limited in extent (~5-15 m). However, a compilation and interpretation over the winter suggested there may be more continuity of grade further into the siltstone than was previously drill tested, and that prior drilling was inherently biased to the andesite side. During the 2023 drill program this theory was tested in multiple locations by extending holes further into the siltstone to target potential extensions of known vein zones. The intercept of 88.4 g/t gold over 2.00 m in SR23-264 validates this concept and provides significant upside for future drill programs to expand the mineralized footprint of the system through further exploration on the siltstone side.   

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

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 N-S oriented zone adjacent to the main Blueberry Vein. The drill results received from 2020 - 2023, coupled with surficial mapping and sampling suggest that the N-S mineralized trend is a first order structure that hosts an array of SW-trending, sub-parallel, sulphide-rich veins that obliquely crosscut it which host high-grade gold. AS of the end of 2022, the extent of the N-S zone, defined by the contact between andesite and siltstone units of the Hazelton and the presence of the cross-cutting sulfide-rich structures, has a drilled strike length of 1,550 metres and has been tested to 400 metres depth. The Blueberry Zone is located on the Granduc Road, 20 kilometres north of the Ascot Resources' Premier Project, which is fully financed for construction. Newcrest's Brucejack Mine is located 25 kilometres to the north.

Dr. Thomas Mumford, P.Geo., 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 2023 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 and Tide North properties. Altogether Scottie Resources holds approximately 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.

Forward Looking Statements

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.