Scotch Creek Leverages Exploration Data to Optimize Portfolio
Rhea-AI Summary
Scotch Creek Ventures Inc. (CSE: SCV) (OTC Pink: SCVFF) has announced a strategic decision to reduce the size of their claims across three projects following an extensive review of exploration data. This move aims to concentrate efforts on areas with the highest potential for success. The company's Technical Director, Robert D. Marvin, stated that the retained claims contain what they believe to be the best exploration targets.
The Macallan East lithium project will now consist of 87 claims (1,740 acres), the Highlands West lithium project will be reduced to 149 claims (2,980 acres), and the Miranda lithium property will comprise 170 claims (3,400 acres). The Cupz property remains at 39 claims (780 acres). Additionally, Scotch Creek has decided to cancel all issued options to maintain financial discipline and support its strategic goals.
Positive
- Strategic reduction of claims to focus on high-potential areas
- Retained claims believed to contain best exploration targets
- Optimized portfolio across multiple lithium projects
Negative
- Reduction in overall land holdings
- Cancellation of all issued options
News Market Reaction 1 Alert
On the day this news was published, SCVFF declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - September 3, 2024) - Scotch Creek Ventures Inc. (CSE: SCV) (FSE: 7S2) (OTC Pink: SCVFF) ("Scotch Creek" or the "Company") announces the strategic decision to reduce the size of their claims across three of its projects. The decision follows an extensive review of the exploration data and will enable the Company to concentrate their efforts on areas with the highest potential for success.
Scotch Creek's Technical Director, Mr. Robert D. Marvin commented, "The Scotch Creek team has made the decision to reduce our land position in the Clayton Valley and nearby Miranda property. The retained claims at each of the projects contain what we believe to be the best exploration targets. The exploration results from 2023 and 2024 were compiled to determine which claims could be trimmed from the properties."
This targeted approach ensures that all retained claims are believed to contain the Companies top exploration targets. The Macallan East lithium project located in the Clayton Valley will consist of 87 claims totaling 1,740 acres, while the neighboring Highlands West lithium project will be reduced to 149 claims and 2,980 acres. The Companies Miranda lithium property located in the Jackson Valley will be 170 claims and 3,400 acres and the Cupz property totaling 39 claims and 780 acres.
Cancellation of Issued Options
In conjunction with the reduction of claims, Scotch Creek has also made the decision to cancel all issued options. This measure reflects the Company's commitment to maintaining financial discipline and ensuring that its capital structure supports its strategic goals.
Scotch Creek would like to invite investors and stakeholders to connect with our investor relations team or visit our website to sign-up to receive regular updates and news alerts.
About Scotch Creek Ventures
Scotch Creek is a mineral exploration company, focused on the acquisition, exploration, and development of lithium projects located in tier-one mining jurisdictions such as Nevada, USA. Scotch Creek's vision is to secure North America's green revolution future with strategically sourced lithium projects.
On behalf of the Board of Directors
"David K. Ryan"
David Ryan
Chief Executive Officer
Further information about the Company is available on our website at www.scotch-creek.com or under our profile on SEDAR+ at www.sedarplus.ca, and on the CSE website at www.thecse.com.
Public Relations Contact
Scotch Creek Ventures Inc.
Telephone: +1.604.862.2793
Email: info@scotch-creek.com
Website: www.scotch-creek.com
The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Forward‐looking and cautionary statements
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations.
This release may contain certain forward‐looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. By their nature, forward‐looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward‐looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222089
FAQ
How many claims does Scotch Creek Ventures (SCVFF) now hold for the Macallan East lithium project?
What is the new size of Scotch Creek Ventures' (SCVFF) Highlands West lithium project?
Why did Scotch Creek Ventures (SCVFF) decide to reduce its claim sizes in September 2024?
What action did Scotch Creek Ventures (SCVFF) take regarding its issued options in September 2024?
