Australian Securities Exchange listed Scotgold Resources Limited (ASX:SGZ) was established in 2007 and listed on the ASX in January 2008. The company’s shares were admitted to trading on the AIM market of the London Stock Exchange (AIM:SGZ) in February 2010. The Company’s principal objective, since 2008, has been the advancement of the Cononish Gold and Silver Project in Scotland’s Grampian Highlands to a production decision and exploration of the highly prospective tenements comprising the Grampian Gold Project with the view of identifying further project opportunities.
Scotgold has focused initially on the development of the Cononish Gold and Silver Project and has identified resources (estimated in accordance with the JORC Code (2004)) in the Measured, Indicated and Inferred categories (see later for breakdown) of 169,200 oz of gold and 631,300 oz of silver at 3.5g/t gold cut-off.
Subsequent to an initial rejection of its application for planning permission to develop the project in 2010, the Company submitted a revised application and on 13th October 2011, the Director of Planning issued a report to the Parks Board recommending approval of the application and at a special meeting on 25th October 2011, the Board of the Parks Authority unanimously approved the application subject to the conclusion of various legal agreements and agreement on a number of outstanding conditions. These were successfully concluded and on 15th February 2012, the Parks Board issued the Decision Letter granting planning permission for the development.
The Crown Estate Commissioners unconditional grant of the Crown Lease was confirmed in May 2012.
The Grampian Gold Project comprises Crown Option agreements of some 4,200km2 in the south west Grampians of Scotland and covers some of the most prospective areas of the Dalradian geological sequence in the UK. This sequence extends westward from the UK to the eastern seaboard of Canada and the Appalachian belt in the US, and eastward into Sweden and Norway, has been identified by the British Geological Survey as being highly prospective for both significant gold and base metal deposits. On a more local scale, the Dalradian sequence extends to the south west from Scotland into Northern Ireland where it hosts other gold resources at Cavancaw (c. 0.5M oz of gold) and Curraghinalt (c. 3.5M oz of gold).
The Company is conducting a regional stream sediment sampling program over the wider Grampian gold project
area whilst continuing to evaluate a number of previously identified high grade outcrops in the vicinity of the