Scottie Resources announces private placement to raise up to $2.3M for exploration and working capital
The offering will consist of 13,529,411 units at a price of $0.17 per unit and is subject to acceptance by the TSX Venture Exchange
Company
CVE:SCOT
Scottie Resources Corp. owns a 100% interest in the Scottie Gold Mine Property which includes the Blueberry Zone and the high-grade, past-producing Scottie Gold Mine. The company 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.
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The offering will consist of 13,529,411 units at a price of $0.17 per unit and is subject to acceptance by the TSX Venture Exchange
Most notably, the company found intercepts of 13.3 grams per ton (g/t) of gold over 12.5 meters (m), including 37.5g/t over 2.5m
"Our 2022 exploration is in full swing with the first drill turning at Blueberry and field crews soil sampling on the Cambria Project,” the company's president and CEO, Brad Rourke said
President and CEO Brad Rourke commented: "Since delivering the outstanding drill results from 2021 which unlocked the clear potential of the Blueberry Contact zone, our geological team has been diligently planning an ambitious follow-up dri
The Summit Lake claims are contiguous with the Scottie gold mine property and are within the prolific Golden Triangle of Northern British Columbia
Under the terms of the offering, the company issued 10,000,000 flow-through common shares (Premium FT shares) at a price of C$0.30 each; 4,000,000 flow-through common shares (Traditional FT shares) at a price of C$0.25 each; and 4,800,000 n
The offering will comprise 6,670,000 common shares that qualify as 'flow-through shares' (FT shares) at a price of $0.30 each for gross proceeds of $5,001,000, and 4,762,000 common shares (HD shares) at a price of $0.21 each for gross proce
Additional assays included 34.6 grams per tonne (g/t) gold over 11.9 metres (m) and 4.4 g/t gold over 10.3m
Assay results returned 9 grams per ton (g/t) gold over 7.39 metres and 14.5 g/t gold over 3.65 metres
Assay results included intercepts of 15.3 grams per tonne (g/t) gold over 13.5 metres (m) and 18.7 g/t gold over 3.2m
Scottie told shareholders that the Blueberry Zone has become “one of the most significant areas of deposit growth on the property” and has more than quadrupled its strike length in the past nine months
Assay results included 11.8 g/t gold over 6.6m and 37.2 g/t gold over 3.7m
The company’s focus is on expanding the known mineralization around the past-producing mine while advancing near mine high-grade gold targets, with the purpose of delivering a potential resource
Drill results included 12.0 grams per tonne (g/t) gold over 6.1 meters (m) in a 100m step-out from the nearest intercept on the structure
The company noted that Peterson brings over 13 years’ experience within the mining, renewable energy, infrastructure, and professional services industries
The new intercepts revealed high-grade gold of 16.5 grams per ton (g/t) gold over 10 metres and 28.8 g/t gold over 4.94 metres
It drilled 14.6 grams per tonne gold over 8.07 metres, extending the Blueberry Zone located 2 kilometers from Scottie’s past-producing Scottie Gold Mine in Canada’s Golden Triangle region