The property covers a total of 6,358.8 hectares and is located approximately 30 kilometers northwest of Stewart, B.C. and immediately west of the Scottie Gold Mine Property.
These claims cover favorable geology, as mapped by the British Columbia Geological Survey, including Jurassic Hazelton volcanic rocks, Jurassic Texas Creek Intrusions and Eocene aged intrusions that are also host to numerous mineral occurrences and past producing mines throughout the Stewart Camp, including Ascot Resources Premier Mine and Scottie Resources Scottie Gold Mine.
The Scottie West claims are bordering the claims held by Scottie Resources, Teuton Resources and Castle Resources and they are also in close proximity to Pretium Resources.
Historical work in the immediate area focused principally on the past producing Scottie Gold gold-silver mine to the east and on the Granduc base metals mine to the west of Scottie West Property. Very little historical work appears to have been undertaken on the property primarily as a result of extensive glacial cover with the majority of the historical work being completed in the region during the late 1980’s. The rapidly retreating glacial cover is providing new surface rock exposures on the property, providing fresh exploration opportunities.
An assessment report (#33511) filed by Eilat Resources documents a 2012 helicopter-borne magnetic geophysical survey totaling 332.5 line km at a 150 metre line spacing of which approximately the western 15% of the survey is now located within the current Scottie West Property. A smaller subsequent airborne magnetic and spectral survey was flown in 2016 on behalf of Eilat within the current Scottie Gold Mine Property (Assessment Report #36318). These airborne surveys highlighted several prominent north-northwesterly and southwesterly trending features, which appear to have a spatial association with mineral occurrences
Under the terms of the agreement Goldplay will pay Roughrider a total of $500,000 in cash issue $500,000 in Goldplay shares and complete a total of $1 million in expenditures over 4 years in order to earn a 70 % interest in the Scottie West Property. Following the earn-in, Goldplay and Roughrider will form a join venture. Goldplay is the sole operator of the project. Roughrider will retain a 2% net smelter return (“NSR”) royalty of which Goldplay can repurchase 1% of the NSR for $2,000,000 at any time after a production decision has been made.
|Upon Signing||$25,000||Equiv. of $25,000||none|
|Year 1||$25,000||Equiv. of $50,000||$200,000|
|Year 2||$50,000||Equiv. of $75,000||$100,000|
|Year 3||$150,000||Equiv. of $150,000||$300,000|
|Year 4||$250,000||Equiv. of $200,000||$400,000|
|Total||$500,000||Equiv. of $500,000||$1,000,000|
Goldplay plans to compile the historical airborne magnetic survey data that was flown over the property as well as to evaluate the recently completed airborne geophysical survey across the entire property. Roughrider completed this survey in 2020. This information will be used by Goldplay to create and conduct the initial prospecting and geological work program on the property in Summer pf 2021.
Goldplay has commissioned a NI 43-101 Technical Report on Scottie West in light of Company’s planned listing application on the Toronto Stock Exchange (TSX.V) estimated for March 2021.