Second, Franco-Nevada has agreed to purchase a charity flow-through private placement for C$1.5 million. Each share is priced at C$0.275.
The investment by Franco-Nevada puts Scottie in a “strong financial position” said president and CEO Brad Rourke. The company plans to use the proceeds primarily at its Scottie gold project 32 km north of Steward, B.C. The project includes the past-producing Scottie gold mine that operated from 1971 to 1985 and produced 95,426 oz. of gold from ore with an average grade of 16.2 g/t gold.
The project includes other key targets, including Bend Vein, Domino, and Blueberry – the last one being of continuing interest to the company. The Blueberry zone is located 2 km northeast of the historic Scottie mine. Historic trenching and channel samples resulted in high-grade assays as much as 103.94 g/t gold over 1.43 metres and 203.75.75 g/t gold over 1.90 metres. Scottie acquired the property in…
