Scorpio Gold Corp. {TSX-V: SGN} has just reported positive initial drill results form their Bluelite North Project, just north of their Bluelite Project at Mineral Ridge, Nevada.
Some decent grades were recorded at shallow depths, a good start in an area that management consider promising.
Comment
Once again Scorpio produce some good drill result out of the hat,and nice to see them from initial results in a new area, where management have high hopes of expanding their resources at Mineral Ridge.
Scorpio continue to produce good results, and at a rapid rate of newsflow for a junior, plenty to follow here.
News release
Vancouver, July 7, 2015 – Scorpio Gold Corp. {TSX-V: SGN} reports results from its first phase of exploration drilling in the Bluelite North target area at its 70% owned Mineral Ridge project, located in Nevada.
The Bluelite North target lies 300-500 meters northwest of the Bluelite deposit and 100-300 meters west of the Solberry deposit. Scorpio Gold’s initial phase of widely-spaced exploration drilling in the area intersected significant mineralisation in 50% of the holes drilled with several holes reporting mineralisation at shallow depths.
Management considers Bluelite North a promising exploration target and plans to follow up with additional drill testing in 2015.
Highlights of exploration drilling in the Bluelite North target area include:
- MR151418: 3.87 grams per tonne (“g/t”) gold over 1.52 meters
- MR151420: 1.89 g/t gold over 1.52 meters
- MR151474: 2.19 g/t gold over 3.05 meters
- MR151478: 1.58 g/t gold over 1.52 meters
A drill hole location map is available at: DH Plan
Table 1. Bluelite North Target Area – Significant Drill Results
| Hole No. |
Azm (deg) |
Dip (deg) |
From (ft) |
To (ft) |
Width (ft) |
From (m) |
To (m) |
Width (m) |
Gold (OPT) |
Gold (g/t) |
|---|---|---|---|---|---|---|---|---|---|---|
| MR151385 | 0 | -90 | No Significant Results | |||||||
| MR151387 | 0 | -90 | 210 | 215 | 5 | 64.01 | 65.53 | 1.52 | 0.017 | 0.58 |
| 295 | 300 | 5 | 89.92 | 91.44 | 1.52 | 0.016 | 0.55 | |||
| MR151389 | 0 | -90 | 250 | 255 | 5 | 76.20 | 77.72 | 1.52 | 0.011 | 0.38 |
| MR151390 | 314 | -69 | No Significant Results | |||||||
| MR151411 | 0 | -90 | No Significant Results | |||||||
| MR151412 | 0 | -90 | No Significant Results | |||||||
| MR151413 | 0 | -90 | 40 | 45 | 5 | 12.19 | 13.72 | 1.52 | 0.025 | 0.86 |
| MR151414 | 0 | -90 | 220 | 225 | 5 | 67.06 | 68.58 | 1.52 | 0.010 | 0.34 |
| MR151415 | 316 | -64 | No Significant Results | |||||||
| MR151416 | 0 | -90 | No Significant Results | |||||||
| MR151417 | 0 | -90 | No Significant Results | |||||||
| MR151418 | 0 | -90 | 35 | 40 | 5 | 10.67 | 12.19 | 1.52 | 0.113 | 3.87 |
| MR151419 | 0 | -90 | ||||||||
| MR151420 | 0 | -90 | 25 | 30 | 5 | 7.62 | 9.14 | 1.52 | 0.055 | 1.89 |
| MR151472 | 0 | -90 | 135 | 140 | 5 | 41.15 | 42.67 | 1.52 | 0.029 | 0.99 |
| MR151473 | 0 | -90 | 225 | 230 | 5 | 68.58 | 70.10 | 1.52 | 0.010 | 0.34 |
| MR151474 | 0 | -90 | 10 | 20 | 10 | 3.05 | 6.10 | 3.05 | 0.064 | 2.19 |
| MR151475 | 0 | -90 | No Significant Results | |||||||
| MR151476 | 0 | -90 | No Significant Results | |||||||
| MR151477 | 0 | -90 | No Significant Results | |||||||
| MR151478 | 0 | -90 | 265 | 270 | 5 | 80.77 | 82.30 | 1.52 | 0.046 | 1.58 |
All holes presented in Table 1 were completed by reverse circulation (RC) drilling. True width is estimated at 90-100% of down-hole 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 available at: MR QAQC.
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 Waterton Global Value L.P. (30%), and Scorpio Gold is currently entitled to receive 80% of cash flow generated.
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 Company has completed its 2015 underground drilling program at Goldwedge (results are pending) and is processing high-grade Mineral Ridge ore at the Goldwedge plant on an as needed basis.
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
For further information contact:
Peter J. Hawley, CEO
Tel: +1 819 825 7618
Email: phawley@scorpiogold.com