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Scotgold upbeat on recent testing at Cononish and Grampian

Mon, 01st Apr 2019 14:48

(Sharecast News) - Scotgold updated the market on its exploration activities on the Cononish Project and Grampian Project in Scotland on Monday, reporting that new zones of interest had been identified for possible extensions to the Cononish orebody.The AIM-traded firm also highlighted potential for the previously-identified Beinn Udlaidh prospect, located within close proximity the Cononish Project area, and said 'ionic leach geochemistry' was demonstrated to be a more effective exploration tool to conventional 'whole-of-sample geochemistry'/It said a systematic suite of techniques had been developed to advance 'anomalies' through to drill targets.As the company had announced on 26 February, orientation test surveys to evaluate and calibrate various exploration techniques had been undertaken over the known Cononish orebody.Following on from initially promising results, Scotgold said the surveys were expanded.In particular, it said the surveys demonstrated that the use of 'ionic leach' methods for soil and stream sediment sampling produced higher resolution data, as well as being simpler, faster and more cost effective.Together with induced polarisation and very low frequency magnetics, the suite of techniques provided the firm with a systematic approach to early stage exploration that the board said would allow for optimal drill hole planning.More specifically, over the test survey area, the ionic leach soil sampling identified new zones of interest for possible extensions to the Cononish orebody.Those previously-unidentified anomalies were associated off-setting faults and structure in the immediate vicinity, and would guide the future drilling campaigns designed to increase the Cononish JORC-compliant mineral resource.As part of the expansion of the ionic leach stream sediment survey, the drainage area around the known Beinn Udlaidh anomaly was covered.That had highlighted with "much greater clarity" that the area, which is significantly larger than the Cononish drainage area, is a prospective gold target.The board said it was now planning the follow up soil, and induced polarisation and very low frequency magnetics programmes over the area"It is very encouraging that what was in effect a calibration exercise has already identified new targets within the test area over the Cononish deposit and we look forward to what our exploration team can discover using these new techniques over our much larger Grampian Project area in the coming years," said Scotgold chief executive officer Richard Gray."The company's expectation for the Cononish mine to become cash positive in 2020 will accelerate these exploration programs and facilitate our stated strategy of building a pipeline of projects in Scotland."
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2 Oct 2018 16:46

Scotgold Resources Renegotiates Bridge Barn Loan Terms

LONDON (Alliance News) - Scotgold Resources Ltd on Tuesday said it renegotiated the terms of its GBP5.0 million loan from Bridge Barn Ltd.Bridge Barn is owned by Scotgold Chairman and Le at

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27 Sep 2018 13:30

Scotgold Resources Annual Pretax Loss Widens As Costs Increase

LONDON (Alliance News) - Scotgold Resources Ltd said on Thursday its full year loss widened on higher administrative and interest costs as the company continued to advance its Scottish gold and as

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13 Aug 2018 16:39

Scotgold sees 'significant advancement' in Loch Lomond mine permitting

(Sharecast News) - Scotgold Resources on Monday told investors that despite delays, "significant advancement" has been made in the permitting process of its Cononish Gold and Silver Mine, near Loch Lomond in Scotland.

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13 Aug 2018 14:54

Scotgold Resources Makes Significant Progress For Cononish Mine Permit

LONDON (Alliance News) - Scotgold Resources Ltd said Monday it has made "significant advancement" in the permitting process for its Cononish gold and silver mine, central company said to

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18 Jun 2018 09:30

Scotgold Resources Picks Up IG Chief As Non-Executive Director

LONDON (Alliance News) - Gold mining investment company Scotgold Resources Ltd said on Monday it has appointed Peter Hetherington and William Styslinger as non-executive directors with immediate a

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18 May 2018 10:42

Scotgold Resources Shares Rise On Cononish Mine Capital Raise (ALLISS)

LONDON (Alliance News) - Shares in Scotgold Resources Ltd rose Friday as it said the final tranche for the development of Cononish gold mine in Scotland has been raised through a combination of in

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20 Mar 2018 13:34

Scotgold Resources Chairman Nat Le Roux Waives Interest On Loan

LONDON (Alliance News) - Scotgold Resources Ltd announced on Tuesday amended terms to the loan provided by its own chairman, included the removal of any took a GBP1.0 a

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15 Mar 2018 12:59

Scotgold Resources Sells French Subsidiary SGZ France For EUR1 Million

LONDON (Alliance News) - Scotgold Resources Ltd said on Thursday it has sold its subsidiary SGZ France SAS, which operates the French exploration licence Vendrennes to Ikigai

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13 Dec 2016 14:16

Scotgold looking to extend bulk processing trial

(ShareCast News) - Scotgold Resources posted an update to its bulk processing trial on Tuesday, and announced it was seeking to extend the operation. The AIM-traded company's bulk processing trial planning permission, granted in May by the Loch Lomond and Trossachs National Park Planning Authority,

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13 Dec 2016 10:35

WINNERS & LOSERS SUMMARY: NCC Shares Slide After Profit Warning

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21 Oct 2016 08:38

Scotgold delists from Sydney bourse

(ShareCast News) - Scotgold Resources confirmed on Friday that it has now ceased trading on the ASX, and that it was delisted from the ASX official list at 1600 AEST in Sydney. The AIM-traded firm said no change will occur to the quotation and trading of Scotgold in London, and its securities will r

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20 Sep 2016 12:24

Scotgold Resources to de-list on ASX on 21 October

(ShareCast News) - AIM listed miner Scotgold Resources will de-list from the Australian Stock Exchange (ASX) on 21 October in a bid to consolidate securities trading and save costs. The gold and silver miner is to de-list due to its limited trading volume on ASX, as over the past six months about 98

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15 Sep 2016 09:39

Scotgold Resources' full year losses narrows

(ShareCast News) - Gold and silver miner Scotgold Resources' full-year losses narrowed as it aims to find funding for its Highlands mines. For the year ended 30 June, losses narrowed by 29% to £800,000, compared to the previous year. Administrative costs rose 15% to £247,000 as exploration expen

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4 Aug 2016 12:20

Scotgold Resources places 62.5m shares on AIM, ASX to raise £500,000

(ShareCast News) - Scotgold Resources announced a sharply discounted share placing and delays in the proceeds from gold sales, sending the stock sharply lower. The miner placed 62.5m ordinary shares at 0.008p each on AIM, the London Stock Exchange's junior market, and the Australian securities excha

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15 Jun 2016 07:57

Scotgold Says Bulk Processing Trial At Cononish Project Underway

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