Scotgold was founded in 2007 and the Company’s shares were admitted to trading on the AIM market in 2010.
The Company is primarily focused on the development of its high grade Cononish Gold and Silver Project in the Scottish highlands, together with the exploration of highly prospective tenements in the Grampian region of Scotland (the Grampian Gold Project).
Cononish has a resource (estimate in accordance with the JORC Code 2012) in the Measured, Indicated and Inferred categories of 541,000 tonnes at 14.3 g/t Au and 59.7 g/t Ag and Proven and Probable Reserves (JORC 2012) (included in the Resource figure quoted) of 555,000 t at 11.1g/t Au and 47.7g/t Ag for 198,000 ozs of gold and 851,000 ozs of silver.
The Cononish Gold and Silver project is fully permitted and ‘shovel ready’. It received planning permission in 2011 from the Loch Lomond and Trossachs National Park and the Crown Estate Commissioners unconditional grant of the Cononish Lease was confirmed in May 2012. This planning permission was subsequently amended in January 2015 to allow 24/6 operations for the planned processing plant.
Cononish went into initial production in May 2016 with the commissioning of the Bulk Processing Trial (“BPT”) plant using ore from its stock pile, pending financing of the full project. The BPT, is a pilot scale processing trial that aims to demonstrate the marketability and profitability of Scottish gold production from Cononish whilst also advancing knowledge regarding the metallurgical performance of the ore. The trial will produce the first commercially produced gold in Scotland
The Grampian Gold Project comprises five Crown Option agreements of some 4,100 km2 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 Cononish project. A recently completed prospectivity ranking exercise has highlighted a number of high priority targets for follow up.
The Company has recently been granted an exploration licence in Portugal targeting gold and antimony mineralisation and has made application for three exploration licences in France which are still under consideration by the authorities.