Scottie Resources Advances Bulk Sampling at Scottie Gold Mine Project

What's Happening?

Scottie Resources is progressing with its bulk sampling program at the Scottie Gold Mine Project in British Columbia. The company has initiated a 10,000-tonne surface bulk sampling program, which includes both mineralized material and waste. The sample material is being transported to third-party facilities for off-site processing, testing, and analysis. This effort is part of Scottie's strategy to expand its resource base and evaluate a potential direct shipping ore (DSO) scenario. The company has raised C$3.3 million in its second tranche of a non-brokered private placement to fund exploration activities. Scottie Resources holds a 100% interest in the Scottie Gold property, which includes the high-grade, past-producing Scottie Gold Mine and adjacent zones.

Why It's Important?

The bulk sampling program is crucial for Scottie Resources as it provides proof of concept for the Scottie DSO project. The data obtained from this program will be valuable for progressing the project and demonstrating the baseline value for the existing resource. The successful completion of this program could lead to significant revenue generation and further project development. Additionally, the funds raised through the private placement will support exploration activities, study work, and permitting activities, which are essential for the company's growth and expansion in the mineral-rich Golden Triangle region.

What's Next?

Scottie Resources plans to release a preliminary economic assessment (PEA) based on the DSO concept in mid-Q4. This assessment will help demonstrate the potential value of the existing resource and the upside of future resource growth. The company will continue to update on the bulk sample progress through the fall, with expectations to complete the mining and crushing of the sample in early September. The processing by third parties will provide additional insights into the future production's processing and marketing.