Maiden Re(US:MHLD) Newsfile·2025-05-07 16:37Core Viewpoint - Scottie Resources Corp. has announced a maiden Inferred Mineral Resource Estimate of 703,000 ounces of gold for its Scottie Gold Mine Project, indicating significant potential for both open pit and underground mining operations [1][4][7]. Group 1: Mineral Resource Estimate - The Inferred Mineral Resource Estimate consists of 703,000 ounces of gold at an average grade of 6.1 g/t, with 528,000 ounces from underground resources at 8.7 g/t and 174,000 ounces from shallow pit constrained resources at 3.2 g/t [1][4][7]. - The MRE is designed for a phased mining approach, starting with a shallow open pit to minimize initial capital costs and fund the development of higher-grade underground resources [4][10]. - The resource is based on a 2.5 g/t gold cutoff for underground resources and a 0.7 g/t cutoff for open pit resources, ensuring reasonable prospects for eventual economic extraction [8][10]. Group 2: Project Development and Infrastructure - The project benefits from existing infrastructure, including roads, proximity to a deep-water shipping port, and nearby power lines, which will support a high-margin, low operational risk model [4][19]. - The company plans to advance to a Preliminary Economic Assessment (PEA) by the end of 2025, leveraging the positive MRE to accelerate project development [4][5]. Group 3: Exploration Potential - Scottie Resources aims to convert inferred resources to indicated through infill drilling and expand resources through exploration of high-quality targets, particularly in the un-drilled pit-constrained envelope [4][5]. - The exploration campaign will focus on areas with significant upside potential, such as the newly discovered Wolf Zone [4][5]. Group 4: Discovery Performance - The resource at the Blueberry Contact Zone was established with a low discovery cost of 12.25 gold ounces per metre drilled, while the historical Scottie Gold Mine had a discovery cost of 3.56 gold ounces per metre drilled [4][11]. - The weighted average all-inclusive drill cost over the past six years is reported at $357.50 per metre [4][11].