Scottie Resources Completes over 10,000 M of Drilling on Its Scottie Gold Mine Project
Scottie reaches a 10km milestone in its 50km drill program, with no new assays or news released in an aggressive exploration market.
Scottie Resources Corp. (SCOT) announced on July 23, 2026, the completion of more than 10,000 meters of diamond drilling across 47 holes. This milestone is part of the company’s fully financed 50,000-meter program announced earlier in 2026. Seven drill rigs were active during the campaign, targeting the Blueberry Contact Zone, the Scottie Gold Mine, and several exploration zones including Bend, C/D, Serac, Lakebed, and Domino.
The release contains no new assay results and serves as a purely operational update. Scottie Resources maintains that the current drilling campaign supports a Feasibility Study, with an updated Mineral Resource Estimate (MRE) expected in the first half of 2027.
Scottie Resources Corp. (SCOT) released an operational update detailing drilling progress, noting that 10 km of a 50 km program has been completed. The announcement reiterates timelines previously established in the company’s Feasibility Study.
Following the Preliminary Economic Assessment (PEA) and 2025 assay results, the stock entered a declining trend, falling from a peak of approximately $3.15 in March to around $2.10 in late July. The recent release provided no new catalyst to alter this downward trajectory.
As a pre-production explorer in the advanced exploration and pre-feasibility stage, Scottie Resources typically requires new assay data, resource conversions, major discoveries, or study milestones to significantly impact market perception. This update did not deliver any of those elements. The company holds a defined 703,000 ounces inferred resource and a PEA, with the market already pricing in the 2026 drill program. Consequently, the update added no new information to the existing valuation framework.
Scottie Resources Corp. (SCOT) is a Canadian junior explorer focused on the Scottie Gold Mine Project in British Columbia’s Golden Triangle. The project hosts a historic mine that produced 95,000 ounces of gold at an average grade of 16.2 g/t, alongside the newer Blueberry Contact Zone discovery.
In May 2025, the company defined an inferred resource of 3.6 million tonnes grading 6.1 g/t gold for 703,000 ounces of gold. An October 2025 preliminary economic assessment (PEA) outlined a direct shipping ore (DSO) operation with a net present value (NPV) of C$215.8 million to C$668.3 million at a 5% discount rate, based on a base-case gold price of US$2,600/oz. The project requires initial capital expenditures of C$128.6 million and is projected to produce approximately 65,000 ounces of gold per year over seven years. Toll-milling upside elevates the NPV to C$380.1 million.
Strategic investors include Ocean Partners, which has provided an off-take agreement, equity investment, and a US$25 million construction facility, as well as Franco-Nevada, which holds a royalty. Scottie Resources reported cash of approximately US$38.5 million as of February 28, 2026, which is sufficient to fully fund the 2026 exploration program. The management team is led by CEO Thomas Mumford, the former President, and Executive Chair Brad Rourke.