Vancouver, British Columbia, December 13, 2017 – Rotation Minerals Ltd. (“Rotation” or the “Company”) (TSXV: ROT) is pleased to announce that it has completed its purchase of a 100% interest in the Scottie Gold property located in the heart of British Columbia’s Golden Triangle.
The area known as the Golden Triangle of British Columbia is among the world’s most prolific mineralized districts, host to past and current mining operations including Johnny Mountain, Red Mountain, Snip Mine, Premier Mine, Golden Bear and Valley of the Kings. The Golden Triangle has reported mineral resources (past production and current resources) in total of 67 million oz of gold, 569 million oz of silver and 27 billion pounds of copper.
The purchase price of the Scottie Gold property was $370,000. In the original agreement dated September 2012, the Company agreed to purchase an 80% interest in the Scottie Gold property. The terms of that agreement were amended several times, most recently on August 31, 2016, when they were amended to include the remaining 20% interest in the Scottie Gold property at no further cost to the Company.
The Scottie Gold property is located approximately 50 km north of Stewart, British Colombia and consists of 14 Crown Granted claims and 2 Modified Grid System (MGS) claims that are contiguous. The property covers 107 hectares of MGS claims and 213 hectares of Crown Granted claims.
The Scottie Gold Mine operated from 1981 to 1985 and produced 95,426 ounces of gold from 183,147 tonnes of mineralization. Four separate vein zones labelled the ‘L”, “M”, “N” and “O” zones were partially explored by drilling and underground development. These four zones were the source of the gold produced during the milling operation.
After closure of the mine, Wright Engineers prepared a report dated July 1985 that indicated diluted mineral resources in the Proven, Probable and Possible categories (now known as Measured, Indicated and Inferred in 43-101 classifications) within the four zones as 120,279 tonnes grading 19.31 g/t gold for a total of 74,333 ounces. Wright Engineers used information supplied by the Scottie Gold Mine engineers and did not independently confirm the information. The report by Wright Engineer’s relied on drill hole data and underground sampling results from programs completed by the Scottie Gold Mine operators.
During the period from 2004 to 2006, further drilling by Tenajon Resource Corp. (“Tenajon”), led to a resource estimation by Giroux Consultants in October, 2007. This resource estimation was based on Tenajon’s drill hole data and the Scottie Gold Mine drill hole data and underground sampling. The results of the estimation are outlined below:
2007 Resource Estimation for the Scottie Property
|Veins||Category||Tonnes||Au (g/t)||Ag (g/t)||Ounces||Ounces|
|L,M,N and O||Indicated||20,100||9.91||4.32||6,400||2,800|
|L,M,N and O||Inferred||203,000||8.40||4.25||54,800||27,800|
The above resources have not been verified by the Company and are not considered 43-101 compliant as they are not compliant with present standards of reporting. These estimates are historical and are used for reference purposes only. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources. The issuer is not treating the historical estimate as current mineral resources. The issuer has examined all the historical drill data, sampling plans and production records and believes that the historical estimates are relevant. The issuer will need to complete drill holes to verify the historical resources in order to upgrade the estimates to make them compliant with 43-101 standards.
The estimations of previous operators were based on mineralization defined in a zone 200 metres wide and 200 metres long with a vertical range of 440 metres. The mineralization is open along strike and to depth. Exploration to date has identified 13 potential zones of gold-bearing quartz-sulphide veining of the same nature as ore milled at Scottie during its operation.
Brad Rourke, President of Rotation stated “Rotation is pleased to have completed the acquisition of the Scottie Gold property, including the former Scottie Gold Mine. With over 1,000 metres of unexplored strike and an additional 600 metres of open vertical extent, the Company believes the Scottie Gold property has excellent potential to expand the extent of known mineralization. We are currently analyzing and modelling historical data in order to identify targets for the 2018 drilling season.”
Ed Kruchkowski, PGeo, a qualified person under National Instrument 43-101, has reviewed the technical information contained in this news release on behalf of the Company. Mr. Kruchkowski is a director of the Company.
The Company has a 100% interest in the Scottie Gold property, a 100% interest in the Black Hills property, a 100% interest in the Stock property (of which 75% is optioned to Jaxon Minerals Inc.) and the option to earn up to a 70% interest in the 4-J’s property, all located in the Golden Triangle area of British Columbia. Further information on Rotation can be found on the Company’s website at www.rotationminerals.com and at www.sedar.com, or by contacting Bradley Rourke, President and CEO at (250) 877-9902.
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
FORWARD LOOKING STATEMENTS
This release may contain forward‐looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward‐looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward‐looking statements whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.