Shares in TSX-V-listed Scottie Resources advanced 13% on Friday, after the British Columbia-focused company announced that gold and silver investor Eric Sprott had put C$2-million into the business.

The gold junior announced a nonbrokered private placement with Sprott, comprising 10 000 000 units at C$0.20 each, for gross proceeds of C$2-million.

The investment will give Sprott a holding of about 11.5% in Scottie Resources. If he were to exercise all his warrants, Sprott would have a 20.6% ownership position in Scottie on a partially diluted basis.

The company’s share price rallied 13% on Friday to close at C$0.26 apiece.

Scottie’s assets are located in an area known as the Golden Triangle of British Columbia, which is among the world’s most prolific mineralised districts.

The firm owns a 100% interest in the high-grade, past-producing Scottie gold mine property and has the option to purchase a 100% interest in the Bow property and the Summit Lake claims, which are contiguous with the Scottie mine property.

The company also owns 100% interests in the Ruby Silver and Black Hills properties and has the option to purchase a 100% interest in the Bitter Creek property which joins the Ruby Silver property with the Black Hills property.

On Thursday, Scottie announced drilling results from the Blueberry Vein on the Bow property. Results from drill hole SR19-20 include 7.44 g/t gold and 1.29 g/t silver over 34.78 m, which includes 14.29 g/t gold over 14.00 m. During September, the company completed 630.2 m of diamond drilling on the Blueberry Vein, which is located just 2 km from the Scottie mine.

“The location of the intercept suggests that we may have pierced a new zone, a potential splay off of the surficial exposure of the Blueberry Vein. As this was our last hole of the 2019 season, the zone remains completely open to the north, and at depth. This will be a priority drill target to follow up early in the 2020 field season,” explained VP for exploration Thomas Mumford.