Morning, and, thanks for coming to the first presentation of the morning. I appreciate your time. Scottie Resources, we'll start with the customary forward-looking statements, as of course, we'll be making, and I wave my arm, so, be aware, but, we've got a great story to tell you. Let's just get this out of the way. The capital structure of Scottie Resources: 300 million shares outstanding, about a CAD 50 million market cap. Don't really have any warrant overhang. We've got about 20 million of those are gonna expire here in a couple weeks, and the other batch is owned just by one fund, essentially. So we don't- we're not too worried about that. I didn't start this company. I've been running it for nine years.
It existed for eight years before I took it over as an investor, so that 300 million shares has been an accumulation of almost twenty years of being in the market. So that's there, but we're really comfortable with that share count, CAD 50 million market cap. I think if you look at technically what we've done and what we've achieved, it's easy to see that there's a lot more value than just the CAD 50 million that is on the page right now. We've got a great management team, and you start with the people. I don't wanna spend too much time on this slide, but I do wanna make note that nobody knew each other before I put that board together, and that's unique to a lot of mining companies. That board runs me.
I do not run it. Because I was just an investor in the company, and then I kind of hastily took it over, I needed to get the supporting team to show me, you know, what the heck is it that it takes to run an exploration company. So I'm very proud of that team. They all have different skill sets. They're all been very successful in their own right, and I encourage you to go look at that on your time. But, I mean, I could do a 15-minute presentation just on the success of that board, and again, they run me. I do not run them. So three things happened this year that we think were very good. You know, we've made...
We made a lot of news when Franco-Nevada just gave us under CAD 10 million this year, and why that's really pleasing to us is we don't have a resource, and Franco-Nevada from our understanding has not given money to a company pre-resource, and they gave us a little bit of equity. And so that from an investing point of view is what you should recognize. So that's deemed one of the best technical teams on the planet Earth, and of course they looked at our geology and found it in their hearts to support us. I mean, it's been a very difficult. It's been difficult since day one, but you know raising money for us small companies has been tough. So we're really really happy that that came about.
But from an investor, what you guys should read into is, you know, we passed the test technically. We, we've done a few bought deals, which are very, very difficult to do, and they run you through the wringer. But a bought deal, it looked like a day at Disneyland compared to what Franco put us through, and we passed through that test. So the other two things that happened this year was Michael Gray started writing about us in January. We kind of always were hoping for that kind of validation, and then after that, Ross Beaty kind of come in and has about 5% of our company, and then Franco-Nevada came in. So these are things that have happened in twenty twenty-four that I think are very relevant and important to us.
Then to give you know as a retail investor some sort of reason that goes well you know we've seemed to be able to entice some very very smart people to come in and you know those entities just don't throw around their names or their money. So we've kind of passed a smell test with some very very impressive people. If you're willing to invest in the junior exploration market whether it's Skeena or any other company I believe you need to look and see these boxes that we've put up there and check them. You don't necessarily have to have them in spades but you better understand it whether it's me or XYZ company. That would be: Are you in the right area?
Are you trying to do business in a place that's gonna allow you to become successful if you are lucky enough to find something? The infrastructure involved, like, you can have a great project, and if the infrastructure makes it impossible, you don't have to have the infrastructure. You just need to understand what it's going to take if... Because that's the next step, if you do find a deposit, is how much is it gonna cost to kinda get it out? We're advanced. The rocks, the geology is also very important. I'd like to say that we're not a greenfield situation. We're just finishing our sixth year of drill campaign today or tomorrow, and what we've found. So I mean, we're no longer looking for a deposit.
We're defining an economic deposit as we speak, so that should give a little bit of comfort of where we are in the time chain of where something can come to fruition. Commanding land position. When I used to be a claim staker, late 1980s, early 1990s, you could have a small little postage stamp, drill a hole, great intercept, and the market will reward you. Today, in this environment, that doesn't happen. You know, the bigger money are the ones who are supporting things like this. You need to have not only a great drill hole or a little deposit, you need to give exploration potential, or that's what I believe, 'cause it's the bigger guys that are coming in, and so we offer that.
Not only do we have a great deposit, we have exploration potential that we could also offer when it is time for us to move on and this to go off into somebody else's hands. Again, we talked about the management team and money, access to capital. There's a lot of great teams out there with a lot of great projects, but they have a hard time raising capital, and it's very difficult. But I'll make the case that we check all those boxes with flying colors, and, you know, being the ninth year, it's not, you know, promises and hopes. We have a track record, and we've never been short-handed on that, so. So we operate in Northwest BC, Golden Triangle.
I'm sure if you're here at 8:00 A.M., I don't have to explain the significance of the Golden Triangle. I was part of the Eskay Creek staking rush. I was at Snip Mine, at Bronson Slope. I did a lot of Murray Pezim stuff, and this would be early 1990s, late 1980s. And even when that Eskay Creek stuff was happening, never has there been the focus on the area or the money put into it like it has in the last five years. Now, after the Orion gave the Skeena about CAD 1 billion, it's roughly about CAD 6-7 billion have been put into the area in the last five, six years. That's significant money. From an investor's point of view, that should give comfort knowing that no one's gonna pack up tent and go off to the next hot area.
This area is significant today, and it will be in the future when you have the new mines and the quality. It's Seabridge. We've got Goliath in the background here, making a lot of noise in the area. So, I can't name all the companies, but it's significant, and again, it's not flash in the pan, and we're off to the next newest area. You have confidence that this area is gonna be very important geologically for a very long time. Again, I don't think I need to explain too much what's going on in that area. When I started as an investor, I was living in a little town just offscreen called Smithers, raising my kids. I just living in the area 'cause I liked it.
And I'm a founding shareholder of a company called Black Diamond Camps, and we were moving a bunch of trailers on this site to build the Brucejack power line, and it was sitting right across from the old Scottie Gold Mine, of which I was familiar with. Scottie Gold Mine was, you know, a producer in the early 1980s. It really kind of just got going for about three and a half years, and it was one of Don McLeod's first mines. I was very well aware of it. It produced. It was recovering over a half ounce per ton, and it kind of shuttered, and it was economics. They didn't run out of ore. In fact, they really didn't do property-wide exploration.
They found a vein on surface, started mining it, and the fatal flaw for Don was he borrowed 20 million dollars from the Royal Bank of Canada, and at that time, if you borrowed that money in 1980, it was 22% interest. So when the commodity price rolled over from 1981 to about 1984, even though it was producing a half ounce per ton, you just couldn't get out from under that weight of the 22%. Or that's what I saw, and I'm going: Well, here's a green hydro line going right beside, right on the property boundary of Scottie Gold. What could go wrong? So I took over this company. I wrote a couple checks and ended up taking it over, and then my education started. What my fatal flaw was, it was only 400 hectares.
So one of the things that I had to do is, I started on a consolidation spree. We've done well over a dozen transactions. Everything you see there in blue belongs to Scottie 100%. There's not a private... There's not a payment. There's no JVs. We've got it all 100% owned. Seven past-producing mines in total on that tenure, but we are really just working in around here, and all the real work is here. We're not gonna talk about George River today, but I drilled it for two seasons, and it's fantastic, and the only reason I haven't gone back, there's just no road going there. But, I mean, this is sitting there. It's good for ten years for us, and we're very excited with, with the drill results we got out of it. It's an old Guggenheim mine.
We've just kind of... It's good for ten years. We've spent enough money on it. One day we'll get back to it, and the only reason we haven't is, again, a lot of helicopters to get there. It makes my drill costs a little bit more expensive, and then, when you see what we've achieved at Blueberry and Scottie, there's no reason for us to go there at the moment. But we give exploration potential beyond some people's imagination. This, we call this the Cambria Project. This was owned by twelve different entities six, seven years ago. I don't think that one piece of land has ever been held as one piece, and every one of those red dots is a mineral showing. There's a system there. We haven't put any drill holes on it yet, but I have drilling permits to do so.
So there, there's a lot of exciting potential, but really, with our CAD 50 million market cap, we can really show there's a lot of latent value there with just what we've done at Scottie. The infrastructure, we lack nothing. We have fantastic meter costs for our drilling, and there's a lot of the reasons is Blueberry doesn't require a helicopter. We're drilling right off the road, but we have... Sorry. We have, as you can see, there's a road, there's power, there's the town of Stewart right down here to support the drilling efforts. We have there's a deepwater shipping port. We also have a mine permit, right? The permit one, M139. There's 7 kilometers of underground workings, a very competent rock. You still can walk in the mine. You're not supposed to.
Of course, we've been in there with a shifter, but you can push the locomotive still up and down the tracks. The copper wire is there. It's all still there in place, 'cause when they did shut that mine down, there's a mill underground. They put it down thinking they'd be up and running again soon, so the infrastructure we have is second to none. We lack nothing. So I think that's important when it comes to the next step, because infrastructure can be a big cost. This is the picture of the original four hundred hectares. It's actually about eight hundred hectares, so when you understand we have fifty-eight thousand hectares, that represents about eight hundred. So very, very small in the big picture, but you can see, here's the Scottie Gold Mine.
There's some adits, the actual deposits up here, and it kind of laid down like this, and it was a series of east-west, not exactly east-west, striking veins into there, and very, very successful. Again, when you're recovering 16.2 grams and your cut-off grade's 10 grams, and that's what the cut-off grade was in the 1980s. Well, if you had a 10, you know, a 10-gram deposit now, it would be very, very, you know, attractive to people. So that's kind of what we started with. If you look over here is the Blueberry Contact Zone. This is one of our discoveries. It was just an idea, and we had a vein on surface, and what Thomas has achieved, and we'll get into that in a moment.
These are two tailings deposits that are sitting there. You can see there's an outline of an old lake. This used to be called Summit Lake, but just down over here was the Summit Glacier. That had receded back in 1989, and that lake has been continuously draining since the 1980s. You can see there's all roads, and what that does for us is gives us exploration potential. Because these veins are striking along the page here, it allows us to go on, onto the lake, which was not available before to explore. We found this Blueberry Contact, but it also kind of propagates here under the lake, and we can get on the lake, and we've been drilling on there and with great success.
So because that lake is no longer there, it allows us to go and search, and we've been quite successful. This is kind of an overview of Scottie. On the right page there, you can see some of our drill results. I'm gonna rip through this pretty quick. I'm sorry I'm talking too much. Those are our results, and you can see the zones in here. We've been up top, drilling across, hitting multiple zones on the way down. Very successful. Again, with that 10-gram cut-off, there's a halo around that, those zones, and we've been confirmation drilling that this year. So if we were to put a resource out in 2025, we'll be able to include that.
We're quite excited with that program. Here's the Blueberry Contact Zone. We've got about 40,000 meters into it. Please go to the presentation another time. But about 15% of our holes reach over 100 gram meters, and there's no closeology at all. We've just indiscriminately been drilling 100-meter diamond patterns for the most part, and as you can see, very, very exciting. It sits right on surface. You can see we're right on the road, steeply dipping, and the geology starts right on surface. So very, very exciting. Easy accessible ore, and again, we've kind of been drilling it, so the next step that we can put out a resource. That's what Blueberry looks from a long section point of view. You can see the geology again, starting right at surface, going down.
We've gone to about 500 meters in total, just with a few holes. We've found great geology, but really been focusing about 300 meters down, as we try and make this economic. The purple zones are what we drilled this year to expand. Exploration seasons, what you can expect is perhaps a resource coming out in 2025, but just from these two, these are all other discoveries. Bend's not a discovery for us. C and D is, Blueberry is. We've drilled this for the first time this year on the same premises that we saw on these two, and Domino. But you can see there's 6 kilometers of strike in around this pluton. There's an intrusion here. So this is what's really exciting to us. It's taken a long time.
We've always been short-handed financially, but every year we've been able to get in there and drill enough to do another season. But I think now, you know, we could have 80,000 meters of targeting. We've just got to wait for the market to support us, so we could not blow up the structure. But that's what you can see, what's happening here. I'm out of time? A bunch of targets, it's the same. I was gonna talk a little bit about Scottie Gold. You can kind of see those are all our results that you see. D Zone, we've been drilling that.
It's taken a few years to get to it, but now we've got enough information we can actually really start expanding out of the D Zone again, and hopefully, it looks much like a Blueberry, or it's more akin to what we see at the Scottie Gold.
Sorry, we're out of time. We need to move on to our next presenter. Yeah, I'm sorry. Yeah, yeah. Thank you.
Okay. Thank you very much.