The newly reported drill results also extended the mineralization present at the primary exploration target, noted a Research Capital Corp. report.
Scottie Resources Corp. (SCOT:TSX.V) released more positive drill results from its Scottie gold project in British Columbia's Golden Triangle, reported Research Capital Corp. analyst Stuart McDougall in a November 11, 2022, research note. These new data contained the richest grades encountered to date and extended the mineralized system that is present.
All reported results are from the current primary exploration target at Scottie, the Blueberry Contact zone, wrote McDougall, "now interpreted as a primary north-south mineralized structure along an andesite-siltstone contact." Results for many more Blueberry Contact holes are pending.
At this target, McDougall highlighted, "mineralization remains open along strike and at depth, particularly at the newly emerging southern extent, where only a few holes have been completed to date."
This batch of results returned an intercept containing the highest grades of gold and silver ever hit at the Scottie project.
Research Capital has a Speculative Buy rating and a CA$0.35 per share target price on Scottie Resources, the current share price of which is about CA$0.22.Encountered via hole SR22-168, grades were 161 grams per ton gold (161 g/t Au) and 100 g/t silver (Ag) extending over 1.3 meters (1.3m) starting at about 218m downhole.
Preceding that result was another highlight intercept, 10.1 g/t Au and 3 g/t Ag over 3.1m.
"Both were enclosed by a broad, low-grade halo, similar to other areas of the zone," McDougall described.
Another high-grade intercept from SR22-168 was 11.3 g/t Au and 37.7 g/t Ag over 4.5m starting at 149m downhole.
A different newly reported hole, SR22-157, extended the mineralized system in the Blueberry Contact zone 30m beyond the results of SR22-151 (previously announced) so that it now reaches 390m below surface. SR22-157 returned 2.57 g/t Au and 3 g/t Ag over 2.5m, the grades and width of which were not as good as those of SR22-151.
Research Capital has a Speculative Buy rating and a CA$0.35 per share target price on Scottie Resources, the current share price of which is about CA$0.22.
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Disclosures For Research Capital Corp., Scottie Resources Corp., November 11, 2022
Analyst Certification: I, Stuart McDougall, certify the views expressed in this report were formed by my review of relevant company data and industry investigation, and accurately reflect my opinion about the investment merits of the securities mentioned in the report. I also certify that my compensation is not related to specific recommendations or views expressed in this report. Research Capital Corporation publishes research and investment recommendations for the use of its clients. Information regarding our categories of recommendations, quarterly summaries of the percentage of our recommendations which fall into each category and our policies regarding the release of our research reports is available at www.researchcapital.com or may be requested by contacting the analyst. Each analyst of Research Capital Corporation whose name appears in this report hereby certifies that (i) the recommendations and opinions expressed in this research report accurately reflect the analyst's personal views and (ii) no part of the research analyst's compensation was or will be directly or indirectly related to the specific conclusions or recommendations expressed in this research report.
Stuart McDougall has visited Scottie Resources Corp. in the past 18 months.
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