Scorpio Gold Intersects 12.15 g/t Over 19.81 Meters at the Solberry Satellite Deposit, Mineral Ridge Project, Nevada
16 June 2014 - 10:00PM
Marketwired Canada
Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN)
reports additional results from its 2014 drilling program at the 70% owned
Mineral Ridge project, located in Nevada. The Solberry deposit lies west of the
currently producing Drinkwater and Mary pits and 600 meters northwest of the
heap leach pad.
Pre-2013 RC drilling on the Solberry deposit outlined a small shallow resource
based upon a floating cone pit shell (as reported in the Company's August 16,
2013 news release). Follow-up infill drilling was conducted in 2013 within the
mineralized wireframe envelope modelled by Telesto, which extended
east-southeast of the pit shell outline. Drilling in 2014 is targeting the
extension of mineralization into untested ground outside of the current pit
shell outline and southeast toward the Oromonte deposit. The 2014 drill program
is designed to potentially expand and enhance the confidence level of the
current resource.
In addition to the ongoing RC drilling campaign, the Company has commenced a
property wide 14 hole 2,000 meter HQ diameter oriented core drilling program.
The purpose of collecting this data is to better understand the preserved
lithology and structural geology as well as the styles and controls to
mineralization. Two oriented core holes, MR14985 and MR14986, were recently
drilled proximal to RC-hole MR14929 (Table 1), providing the site exploration
team with valuable detailed geological data in an area of high-grade
mineralization. Assay results from these cored holes are pending. Results from
the oriented core drilling program will greatly assist in guiding continued
exploration on the Mineral Ridge property.
Highlights from this phase of RC drilling on the Solberry deposit include:
-- MR14783: 3.26 grams per tonne ("g/t") gold over 4.57 meters
-- MR14809: 2.33 g/t gold over 1.52 meters
-- MR14815: 19.58 g/t gold over 3.05 meters
-- MR14818: 2.66 g/t gold over 3.05 meters
-- MR14828: 9.15 g/t gold over 1.52 meters
-- MR14929: 12.15 g/t gold over 19.81 meters
A drill hole location map is available at:
www.scorpiogold.com/i/maps/mr/Solberry_DHplan_2014.jpg
Table 1. Solberry Deposit - Significant Drill Results
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Hole Azm Dip From To Width From To Width Gold Gold
No. (deg) (deg) (ft) (ft) (ft) (m) (m) (m) (OPT) (g/t)
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MR14776 0 -90 No Significant Results
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MR14777 0 -90 75 90 15 22.86 27.43 4.57 0.013 0.45
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MR14778 0 -90 0 10 10 0.00 3.05 3.05 0.032 1.08
----------------------------------------------------------------------------
90 100 10 27.43 30.48 3.05 0.015 0.51
----------------------------------------------------------------------------
MR14780 0 -90 25 35 15 7.62 10.67 3.05 0.032 1.10
----------------------------------------------------------------------------
MR14783 0 -90 35 50 15 10.67 15.24 4.57 0.095 3.26
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MR14798 0 -90 No Significant Results
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MR14799 0 -90 No Significant Results
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MR14800 0 -90 0 5 5 0.00 1.52 1.52 0.014 0.48
----------------------------------------------------------------------------
45 50 5 13.72 15.24 1.52 0.031 1.08
----------------------------------------------------------------------------
MR14801 0 -90 50 60 10 15.24 18.29 3.05 0.025 0.86
----------------------------------------------------------------------------
MR14802 0 -90 170 175 5 51.82 53.34 1.52 0.026 0.89
----------------------------------------------------------------------------
MR14803 0 -90 No Significant Results
----------------------------------------------------------------------------
MR14804 0 -90 20 30 10 6.10 9.14 3.05 0.023 0.80
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MR14805 0 -90 No Significant Results
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MR14806 0 -90 No Significant Results
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MR14807 0 -90 65 70 5 19.81 21.34 1.52 0.019 0.67
----------------------------------------------------------------------------
MR14808 0 -90 190 195 5 57.91 59.44 1.52 0.013 0.45
----------------------------------------------------------------------------
200 205 5 60.96 62.48 1.52 0.025 0.86
----------------------------------------------------------------------------
MR14809 0 -90 315 320 5 96.01 97.54 1.52 0.068 2.33
----------------------------------------------------------------------------
MR14810 0 -90 160 175 15 48.77 53.34 4.57 0.017 0.58
----------------------------------------------------------------------------
MR14811 0 -90 390 400 10 118.87 121.92 3.05 0.013 0.45
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MR14812 0 -90 655 660 5 199.64 201.17 1.52 0.021 0.72
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MR14813 0 -90 40 50 10 12.19 15.24 3.05 0.017 0.57
----------------------------------------------------------------------------
195 200 5 59.44 60.96 1.52 0.015 0.52
----------------------------------------------------------------------------
300 305 5 91.44 92.96 1.52 0.015 0.50
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MR14814 0 -90 45 50 5 13.72 15.24 1.52 0.020 0.67
----------------------------------------------------------------------------
180 185 5 54.86 56.39 1.52 0.012 0.40
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195 200 5 59.44 60.96 1.52 0.010 0.35
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320 325 5 97.54 99.06 1.52 0.020 0.69
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340 355 15 103.63 108.20 4.57 0.025 0.84
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400 405 5 121.92 123.44 1.52 0.077 2.65
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MR14815 0 -90 35 45 10 10.67 13.72 3.05 0.571 19.58
----------------------------------------------------------------------------
MR14816 0 -90 10 15 5 3.05 4.57 1.52 0.011 0.38
----------------------------------------------------------------------------
575 580 5 175.26 176.78 1.52 0.012 0.41
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MR14817 0 -90 60 70 10 18.29 21.34 3.05 0.012 0.39
----------------------------------------------------------------------------
245 250 5 74.68 76.20 1.52 0.015 0.51
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300 305 5 91.44 92.96 1.52 0.012 0.41
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490 500 10 149.35 152.40 3.05 0.015 0.50
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MR14818 0 -90 5 10 5 1.52 3.05 1.52 0.010 0.35
----------------------------------------------------------------------------
70 80 10 21.34 24.38 3.05 0.078 2.66
----------------------------------------------------------------------------
205 215 10 62.48 65.53 3.05 0.023 0.77
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450 455 5 137.16 138.68 1.52 0.015 0.51
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MR14819 0 -90 No Significant Results
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MR14820 0 -90 180 185 5 54.86 56.39 1.52 0.012 0.41
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MR14821 0 -90 545 550 5 166.12 167.64 1.52 0.010 0.34
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MR14822 0 -90 No Significant Results
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MR14823 0 -90 No Significant Results
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MR14824 0 -90 No Significant Results
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MR14825 0 -90 100 105 5 30.48 32.00 1.52 0.014 0.46
----------------------------------------------------------------------------
250 255 5 76.20 77.72 1.52 0.011 0.36
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MR14826 0 -90 85 100 15 25.91 30.48 4.57 0.060 2.05
----------------------------------------------------------------------------
160 175 15 48.77 53.34 4.57 0.060 2.05
----------------------------------------------------------------------------
MR14827 0 -90 75 80 5 22.86 24.38 1.52 0.012 0.39
----------------------------------------------------------------------------
MR14828 0 -90 0 5 5 0.00 1.52 1.52 0.267 9.15
----------------------------------------------------------------------------
80 85 5 24.38 25.91 1.52 0.055 1.89
----------------------------------------------------------------------------
MR14829 0 -90 45 60 15 13.72 18.29 4.57 0.031 1.07
----------------------------------------------------------------------------
MR14830 0 -90 55 65 10 16.76 19.81 3.05 0.012 0.41
----------------------------------------------------------------------------
MR14924 0 -90 30 40 10 9.14 12.19 3.05 0.068 2.33
----------------------------------------------------------------------------
MR14925 0 -90 No Significant Results
----------------------------------------------------------------------------
MR14926 0 -90 115 125 10 35.05 38.10 3.05 0.035 1.20
----------------------------------------------------------------------------
MR14927 0 -90 15 20 5 4.57 6.10 1.52 0.030 1.03
----------------------------------------------------------------------------
MR14928 0 -90 No Significant Results
----------------------------------------------------------------------------
MR14929 0 -90 45 110 65 13.72 33.53 19.81 0.354 12.15
----------------------------------------------------------------------------
MR14970 0 -90 95 100 5 28.96 30.48 1.52 0.086 2.95
----------------------------------------------------------------------------
MR141001 0 -90 40 45 5 12.19 13.72 1.52 0.102 3.50
----------------------------------------------------------------------------
All holes presented in Table 1 were completed by reverse circulation (RC)
drilling. True width is estimated at 80-100% of downhole width. Analytical
results were performed by American Assay Laboratory Inc. in Sparks, Nevada, an
ISO/IEC 17025:2005 accredited facility. External check assays to verify lab
accuracy are routinely completed by ALS Chemex, an ISO 9001:2000 certified and
ISO/IEC 17025:2005 accredited facility. Further details are presented in the
Company's quality assurance and quality control program for the Mineral Ridge
project at: www.scorpiogold.com/i/pdf/reports/QAQC-MR.pdf.
About Scorpio Gold
Scorpio Gold holds a 70% interest in the Mineral Ridge gold mining operation
located in Esmeralda County, Nevada with joint venture partner Waterton Global
Value L.P. (30%), and is currently entitled to receive 80% of cash flow
generated. Mineral Ridge is currently in production as a conventional open pit
mining and heap leach operation. The Mineral Ridge property is host to multiple
gold-bearing structures, veins and lenses at exploration, development and
production stages. Scorpio Gold also holds a 100% interest in the advanced
exploration-stage Goldwedge property and processing facility in Manhattan,
Nevada. The Company is assessing its exploration plans for the Goldwedge
property as well as the potential for toll milling at the Goldwedge plant, which
is currently permitted for 400 tons per day.
Scorpio Gold's President, Steve Roebuck, PGeo, is a Qualified Person as defined
by National Instrument 43-101 and has reviewed and approved the content of this
release.
ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION
Peter J. Hawley, CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
The Company relies on litigation protection for forward-looking statements. This
news release contains forward-looking statements that are based on the Company's
current expectations and estimates. Forward-looking statements are frequently
characterized by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar words or
statements that certain events or conditions "may" or "will" occur, and include,
without limitation, statements regarding the Company's plans with respect to the
exploration, development and exploitation of its Mineral Ridge project,
including potential further exploration or development of the Solberry satellite
deposit, any potential expansion of the current pit shell outline thereof, and
any potential increase in the mineral resource estimate in respect thereof. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that could cause actual events or results to differ materially
from estimated or anticipated events or results implied or expressed in such
forward-looking statements, including risks involved in mineral exploration and
development programs and those risk factors outlined in the Company's Management
Discussion and Analysis as filed on SEDAR. Any forward-looking statement speaks
only as of the date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements are not
guarantees of future performance and accordingly undue reliance should not be
put on such statements due to the inherent uncertainty thereof.
FOR FURTHER INFORMATION PLEASE CONTACT:
Steve Roebuck, President
(819) 825-7618
sroebuck@scorpiogold.com
Investor Relations:
Jim Macdonald, Torrey Hills Capital
(858) 456-7300
jm@sdthc.com
www.scorpiogold.com
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