Scorpio Gold drill results provided some early festive cheer for their investors

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Scorpio Gold Corp. {TSX.V: SGN} gave their investors some early festive cheer by reporting further drill results from their Mary LC Deposit at Mineral Ridge, Nevada.

CEO Peter Hawley reported some excellent grades with one hole delivering 7.79 g/t Gold over 9.14 metres, from a shallow depth.

Comment

Once again Scorpio report excellent grades for Nevada, and again some of these are very close to surface, in mining terms.

The table below illustrates the potential being uncovered here as Scorpio work to extend the mine life.

Official news release

Dec 16, 2014

Scorpio Gold’s Intersects 7.79 g/t Gold over 9.14 meters at the Mary LC Deposit, Mineral Ridge Project, Nevada

Vancouver, December 16, 2014 – Scorpio Gold Corporation {TSX-V: SGN} reported further assay results from its 2014 drill program on the Mary LC deposit, at their 70% owned Mineral Ridge project, located in Nevada, USA.

On July 21, 2014, the Company reported an updated Life of Mine Plan (“LOM Plan”) for the Mineral Ridge Operation, which includes the currently producing Drinkwater and Mary LC deposits and five adjacent satellite deposits. As of March 31, 2014, Probable Mineral Reserves for the Mary LC deposit totalled 1,502,560 tons grading 0.061 ounces per ton (oz/ton) for 91,510 contained ounces gold. Probable Mineral Reserves are included within an Indicated Mineral Resource of 1,534,500 tons grading 0.063 oz/ton gold. Inferred Mineral Resources for the Mary LC deposit totalled 50,900 tons grading 0.061 oz/ton.

Pre-stripping of the Mary LC pit commenced in the first quarter of 2014 and extraction of development ore was realized in the second quarter of 2014. Continued infill and step-out drilling on the Mary LC deposit since the March 31, 2014 cut-off date of the LOM Plan is designed to potentially upgrade and increase the reported mineral reserve and resource estimate and potentially extend life of mine.

Highlights of the most recent assay results received for 15 holes drilled on the Mary LC, include:

  • MR141183: 7.79 g/t gold over 9.14 meters
  • MR141188: 7.02 g/t gold over 4.57 meters
  • MR141204: 5.16 g/t gold over 7.62 meters

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