Scorpio Gold reports first results from Custer target at Mineral Ridge

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Scorpio Gold {TSX.V: SGN} reports results from their Custer satellite at Mineral Ridge, Nevada, USA.

Custer as previously undrilled, and reported some high grades amongst the initial results.

 

VANCOUVER, BRITISH COLUMBIA– Dec. 17, 2015) – Scorpio Gold Corporation {TSX.V: SGN} reports results from the 2015 exploration drilling in the Custer target area at its 70% owned Mineral Ridge project, located in Nevada.

 

The Custer target is a previously undrilled area that lies along trend of and ~500 meters southeast of the Mary LC deposit. Forty-nine holes tested an area over 575 meters wide, intersecting mineralization in over 70% of the holes drilled. A number of high-grade intersections were returned, including some over substantial widths. The majority of intersections lie at 40 to 60 meter vertical depths.

 

The Company’s management considers this to be a highly successful first-pass drilling campaign for the Custer target area. Follow-up drilling along strike and down dip of the intersected mineralisation is planned in 2016.

 

Highlights from RC drilling on the Custer target include:

  • MR151705: 11.79 grams per tonne (“g/t”) gold over 9.14 meters
  • MR151706: 8.11 g/t gold over 7.62 meters
  • MR151707: 2.06 g/t gold over 3.05 meters
  • MR151710: 15.31 g/t gold over 4.57 meters
  • MR151821: 5.18 g/t gold over 3.05 meters
  • MR151827: 6.27 g/t gold over 4.57 meters
  • MR151842: 6.15 g/t gold over 6.10 meters
  • MR151863: 9.67 g/t gold over 12.19 meters

 

 

Table 1. Custer Target Area – Significant Drill Results

Hole Azm Dip From To Width From To Width Gold Gold
No. (deg) (deg) (ft) (ft) (ft) (m) (m) (m) (OPT) (g/t)
MR151699 0 -90 105 110 5 32.00 33.53 1.52 0.013 0.45
MR151700 0 -90 200 205 5 60.96 62.48 1.52 0.024 0.82
MR151701,708 0 -90 No Significant Results
MR151702 0 -90 105 110 5 32.00 33.53 1.52 0.065 2.23
MR151703 0 -90 120 125 5 36.58 38.10 1.52 0.023 0.79
MR151704 0 -90 45 50 5 13.72 15.24 1.52 0.059 2.02
MR151705 0 -90 200 230 30 60.96 70.10 9.14 0.344 11.79
incl 205 210 5 62.48 64.01 1.52 1.788 61.30
MR151706 0 -90 150 175 25 45.72 53.34 7.62 0.237 8.11
205 225 20 62.48 68.58 6.10 0.156 5.33
MR151707 0 -90 5 10 5 1.52 3.05 1.52 0.017 0.58
135 175 40 41.15 53.34 12.19 0.031 1.07
MR151709 0 -90 65 75 10 19.81 22.86 3.05 0.053 1.80
185 190 5 56.39 57.91 1.52 0.042 1.45
MR151710 0 -90 135 150 15 41.15 45.72 4.57 0.447 15.31
MR151711 0 -90 165 170 5 50.29 51.82 1.52 0.053 1.82
MR151714 0 -90 175 180 5 53.34 54.86 1.52 0.016 0.55
MR151716 0 -90 205 210 5 62.48 64.01 1.52 0.018 0.62
MR151717 0 -90 110 120 10 33.53 36.58 3.05 0.040 1.35
MR151718 0 -90 No Significant Results
MR151821 217 -50 100 110 10 30.48 33.53 3.05 0.151 5.18
MR151822 0 -90 190 195 5 57.91 59.44 1.52 0.011 0.38
MR151827 0 -90 210 225 15 64.01 68.58 4.57 0.183 6.27
incl 210 215 5 64.01 65.53 1.52 0.504 17.28
MR151828 0 -90 160 165 5 48.77 50.29 1.52 0.068 2.33
MR151829 0 -90 45 50 5 13.72 15.24 1.52 0.011 0.38
MR151831 0 -90 280 285 5 85.34 86.87 1.52 0.015 0.51
MR151832 0 -90 70 75 5 21.34 22.86 1.52 0.069 2.37
90 95 5 27.43 28.96 1.52 0.194 6.65
330 335 5 100.58 102.11 1.52 0.069 2.37
MR151833 0 -90 180 185 5 54.86 56.39 1.52 0.129 4.42
MR151835 0 -90 80 85 5 24.38 25.91 1.52 0.042 1.44
MR151836 0 -90 245 255 10 74.68 77.72 3.05 0.011 0.38
MR151837 0 -90 120 125 5 36.58 38.10 1.52 0.157 5.38
MR151838,843 0 -90 No Significant Results
MR151839 0 -90 135 140 5 41.15 42.67 1.52 0.011 0.38
MR151842 0 -90 65 70 5 19.81 21.34 1.52 0.037 1.27
165 185 20 50.29 56.39 6.10 0.180 6.15
195 200 5 59.44 60.96 1.52 0.015 0.51
MR151844 0 -90 145 150 5 44.20 45.72 1.52 0.012 0.41
MR151845-846 0 -90 No Significant Results
MR151848 0 -90 No Significant Results
MR151849 0 -90 85 90 5 25.91 27.43 1.52 0.041 1.41
MR151850-852 0 -90 No Significant Results
MR151854 0 -90 40 45 5 12.19 13.72 1.52 0.012 0.41
MR151856 0 -90 100 110 10 30.48 33.53 3.05 0.019 0.65
175 180 5 53.34 54.86 1.52 0.075 2.57
MR151857-858 159 -55 No Significant Results
MR151859 161 -70 60 65 5 18.29 19.81 1.52 0.010 0.34
MR151860 161 -50 No Significant Results
MR151861 36 -70 440 445 5 134.11 135.64 1.52 0.025 0.86
MR151862 36 -50 500 505 5 152.40 153.92 1.52 0.023 0.79
MR151863 10 -70 20 25 5 6.10 7.62 1.52 0.037 1.27
90 95 5 27.43 28.96 1.52 0.019 0.65
205 245 40 62.48 74.68 12.19 0.282 9.67

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.

 

About Scorpio Gold

Scorpio Gold holds a 70% interest in the producing Mineral Ridge gold mining operation located in Esmeralda County, Nevada with joint venture partner Elevon, LLC (30%). Mineral Ridge is 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 in Manhattan, Nevada, with a fully permitted underground mine and 400 ton per day mill facility. The Goldwedge mill facility has been placed on a care and maintenance basis and can be restarted immediately when needed.

 

Scorpio Gold’s President & CEO, Peter J. Hawley, 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, President & 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 additional drilling in the Custer target area in 2016. 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.

Scorpio Gold Corporation
Peter J. Hawley
President & CEO
(819) 825-7618
phawley@scorpiogold.com
www.scorpiogold.com