Scottie Resources Corp. [TSX.V: SCOT]
Scottie Resources Corp. (“Scottie”) is an exploration company focused on gold and silver assets in British Columbia. Scottie owns the past-producing Scottie Gold Mine and a large, highly prospective exploration package in BC’s prolific Golden Triangle.
The Essentials
At Resource Insider we are long Scottie Resources. The question is why?
Team & Board
Corporate leadership has a track record of success and creating value for shareholders.
The Right Address
Located just 48 km from Steward, BC, the site is road accessible and a powerline runs through the property.
Major Upside
Large land package with numerous high grade intercepts and samples. Initial drilling and data collection indicate significant exploration potential.
Historical Mine & Infrastructure
Scottie Resources owns the past producing Scottie Gold Mine and all associated data and infrastructure.
Bottom Line: This all boils down to one simple thing, I believe there is potentially a lot more gold here than the market has priced in.
Investment Thesis
- SIZE: Scottie has created value by consolidating a large highly prospective package of exploration ground. They started with the 400 hectares that housed the historic mine – today they own nearly 25,000 hectares.
- INFRASTRUCTURE: Significant infrastructure on-site including a road, powerline, and historic underground workings, providing Scottie with a head start on competitors in the region.
- RESULTS: Largely unexplored and sitting in a highly prospective gold region, the 2019 drilling and surface exploration program uncovered high-grade mineral occurrences throughout the property.
- NEWS: Scottie is currently awaiting drill results from over 7,000m of drill from their 2020 program.
- TEAM: Scottie Resources is led by a strong team that knows how to execute in the region.
- INVESTORS: Backed by respected shareholders such as Eric Sprott and Marcel de Groot.
- POTENTIAL: Multi-million-ounce discovery potential.
Why Now?
Last year Scottie drilled approximately 2,000m hitting numerous high-grade gold intercepts. These results are auspicious based on what’s known as a Grade Thickness or GT metric.
If you are unfamiliar with the GT metric, this consists of the grade (g/t) of a mineral intercept multiplied by the thickness (m). Thickness refers to the length over which gold mineralization occurs.
Ideally, on a greenfield project like this, we want to see a GT over 115.
As an example, that can look like:
10g/t * 11.5m = 115GT Or 5 g/t * 23m = 115GT
Or, some other combination.
Scottie’s GT metrics are 313at the Bend Vein, 258 at the Blueberry Vein, and 181 at the Scottie Gold Mine. (i.e. very promising!)
Most importantly, Scottie recently completed a 7,000m drill program. A large part of which targeted the Domino Zone (where extremely high grade: 536 g/t Au, 63 g/t Au, 34.3 g/t gold grab samples have been taken).
[Note: You can learn more about this extremely important exploration metric by listening to my conversation with geologist Francis MacDonald.]
What’s Next?
Given that Scottie was able to achieve such positive results from a small 2,000m program in 2019, their first year of drilling, I expect that they’ll be able to achieve similar, or better, results now that they better understand the geology and are doing more than three times the drilling (7,000m).
If these drill results come back positive, it will add serious weight to the thesis that Scottie has a major gold system on their hands.
How to Play
Scottie Resources is a publicly-traded company listed in Canada. Today you can buy in cheaper than I did in October!
Canada
| Exchange: TSX Venture Exchange [TSX.V] | Symbol: SCOT |
Who Should Own This Stock?
This is a deal for speculators. Scottie Resources is a speculative investment with tremendous upside potential. The outcome will, more likely than not, be binary. This is an exploration play and the share price will live or die by the drill bit. If the company can prove that they have mineralization at scale, then the share price should see substantial appreciation.
More About RI
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Jamie Keech
Nick D'Onofrio
Chris MacIntosh
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