Scottie Resources Surpasses 25,000 Metres of Drilling at the Scottie Gold Mine Project
Scottie Resources Corp. (SCOT) has completed more than 25,000 metres of drilling across over 100 drill holes, representing approximately half of its fully financed 50,000-metre 2026 drill program at the Scottie Gold Mine Project. The company is actively advancing resource definition and exploration across multiple targets, including the Blueberry Contact Zone, Domino, and the newly commenced Cambria Project, with the goal of supporting a Feasibility Study targeted for H1 2027.
Eight diamond drills are currently active, with seven operating at the Scottie Gold Mine Project and one at the Cambria Project. At the Scottie Gold Mine, drilling is focused on expanding and upgrading high-grade gold resources to support an updated Mineral Resource Estimate for the Feasibility Study. The company’s current resource estimate consists of 703,000 gold ounces at an average grade of 6.1 g/t (Inferred category) in 3.6 million tonnes.
Drilling has also commenced at the Cambria Project, located approximately 15 km east of the Scottie Gold Mine. This marks the first-ever drilling at the site, which targets mapped and sampled vein systems, with a planned scope of 2,000–3,000 metres. Meanwhile, the Domino Target, located approximately 2 km west of the Scottie Gold Mine, has seen approximately 2,000 metres drilled. This work is testing outcropping veins coincident with IP anomalies and more than 30 high-grade surface samples ranging from 5 to 536 g/t Gold. Additional high-priority targets being tested include the Bend Vein, C and D Zones, Serac Vein, and the Lakebed area.
Parallel technical programs include geotechnical, hydrogeological, and condemnation drilling, geophysics, remote sensing, and environmental baseline studies.
A Preliminary Economic Assessment (PEA) outlines strong economics for a Direct-Ship Ore (DSO) development scenario. The Base Case DSO scenario projects an after-tax NPV(5%) of $215.8–$668.3 million at gold prices of US$2,600–$4,200/oz. A toll-milling scenario, for which no agreement is currently in place, shows an after-tax NPV(5%) of $380–$832 million. Estimated initial capital costs are $129 million, with average annual production of approximately 65,400 oz of gold over seven years. The payback period is 1.7 years for the after-tax DSO case, reduced to 0.9 years under the toll-milling opportunity at US$2,600/oz.
"Completing more than 25,000 metres of drilling is an important milestone for Scottie and demonstrates the scale and pace of our largest drill program to date," said Dr. Thomas Mumford, President & CEO. "We are pleased with the progress we are seeing in the field, and the program is performing as expected."
"We are particularly excited to have commenced drilling at Cambria for the first time, while drilling at Domino is focused on the potential to define an entirely new deposit. With over 100 new holes drilled to date, and in process of being logged, sampled and awaiting assays, investors can expect a steady stream of results beginning in the coming weeks."
Lyle Hansen, P.Geo., Resource Geologist for Scottie Resources Corp., is the Qualified Person for the technical information in this release.