Scotgold Resources Ltd holds five Option agreements with the Crown Estates which constitute the Company’s Grampian Project in south west Scotland. These Option agreements cover a substantial area of ~4100 km2 with the majority (~85%) located outside of the Loch Lomond and the Trossachs National Park. The Company holds the Crown Options for six years (subject to satisfactory performance on a two yearly review process) and this can be extended further under certain circumstances.
The Grampian Project encompasses an area of the highly prospective Dalradian Supergroup sequence. Basic exploration data, including gravity and airborne magnetics, is available from government surveys carried out between the 1950’s and 1970’s but is of a quality and spacing that does not adequately reflect the prospectivity of the area. The lack of information and previous exploration has dictated the Company’s approach to exploration.
The exploration program for the Grampian Project aims to gain a baseline of data across the regional area to guide further detailed work. This includes a large stream sediment survey, historical data gathering and analysis and the re-evaluation of existing geophysical and geochemical data. In parallel with this regional program, the Company continues to evaluate high-grade outcrop samples and historic mine workings identified by previous exploration across the Grampian Project.
Exploration in the Glen Orchy option area, close to the Cononish Gold & Silver Project, is more advanced with extensive field mapping and rock chip sampling carried out in this area. In addition, initial short surface drilling and (in some cases) deeper diamond drilling has been undertaken on prospects in the option area. The Glen Orchy option area also formed the focus for the highly successful structural study, carried out by Dr. Pablo Gumiel and Dr. Monica Arias in 2015. The Company intends to extend this study across the option area holdings as sufficient data becomes available.