Scorpio Gold Reports Results from Drilling at the Defiance Target, Mineral Ridge, Nevada

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Scorpio Gold Corp. {TSX-V: SGN} reports results from the 2016 exploration drilling program on the Defiance target at its 70% owned Mineral Ridge project, located in Nevada.

After a quiet start to the year, news wise, Scorpio have released two drilling updates in short order.

 

 


Scorpio Gold Reports Results from 2016 Exploration Drilling at the Defiance Target, Mineral Ridge Project, Nevada


Vancouver, May 10, 2016 – Scorpio Gold Corp. {TSX-V: SGN} reports results from the 2016 exploration drilling program on the Defiance target at its 70% owned Mineral Ridge project, located in Nevada.

The Defiance target lies along trend of and ~200 meters southeast of the Custer deposit. Extensive road construction at the beginning of the year allowed for crossing the sizeable canyon that lies between the two areas and drilling on the Defiance target for the first time in 2016. Thirty-six holes were drilled on roughly 50 meter centers, defining the initial footprint of the Defiance mineralisation over a ~200 x 300 meter area. Compared to Custer, the mineralisation encountered thus far lies at greater depths and over narrower widths due to geological differences between the two deposits. Surface mapping is ongoing to enhance understanding of the geology in the Defiance target area.

Highlights from RC drilling in 2016 on the Defiance target include:

  • MR161939: 2.06 grams per tonne (“g/t”) gold over 3.05 meters
  • MR161942: 6.45 g/t gold over 1.52 meters
  • MR161944: 2.47 g/t gold over 1.52 meters
  • MR161947: 2.33 g/t gold over 3.05 meters
  • MR161990: 2.47 g/t gold over 1.52 meters
  • MR161992: 3.57 g/t gold over 1.52 meters
  • MR161995: 2.16 g/t gold over 1.52 meters
  • MR162025: 2.47 g/t gold over 3.05 meters
  • MR162026: 9.84 g/t gold over 1.52 meters

Table 1. Defiance 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)

MR161939

0

-90

110

120

10

33.53

36.58

3.05

0.060

2.06

MR161940

0

-90

70

75

5

21.34

22.86

1.52

0.012

0.41

MR161941

0

-90

275

280

5

83.82

85.34

1.52

0.016

0.55

MR161942

0

-90

140

145

5

42.67

44.20

1.52

0.034

1.17

235

240

5

71.63

73.15

1.52

0.188

6.45

MR161944

0

-90

125

130

5

38.10

39.62

1.52

0.072

2.47

140

145

5

42.67

44.20

1.52

0.024

0.82

MR161946

0

-90

175

180

5

53.34

54.86

1.52

0.017

0.58

MR161947

0

-90

435

445

10

132.59

135.64

3.05

0.068

2.33

MR161948

0

-90

355

360

5

108.20

109.73

1.52

0.019

0.65

520

525

5

158.50

160.02

1.52

0.032

1.10

MR161949

0

-90

510

515

5

155.45

156.97

1.52

0.034

1.17

550

555

5

167.64

169.16

1.52

0.024

0.82

MR161988

0

-90

525

530

5

160.02

161.54

1.52

0.017

0.58

MR161989

0

-90

No Significant Results

MR161990

0

-90

40

45

5

12.19

13.72

1.52

0.072

2.47

MR161991

0

-90

480

485

5

146.30

147.83

1.52

0.024

0.82

MR161992

0

-90

530

535

5

161.54

163.07

1.52

0.104

3.57

MR161993

0

-90

230

235

5

70.10

71.63

1.52

0.010

0.34

MR161994

0

-90

450

455

5

137.16

138.68

1.52

0.040

1.37

MR161995

0

-90

460

465

5

140.21

141.73

1.52

0.063

2.16

MR161996

0

-90

575

580

5

175.26

176.78

1.52

0.010

0.34

MR161997

0

-90

115

120

5

35.05

36.58

1.52

0.055

1.89

MR161998

0

-90

145

155

10

44.20

47.24

3.05

0.024

0.81

MR161999

0

-90

No Significant Results

MR162000

0

-90

75

80

5

22.86

24.38

1.52

0.016

0.55

MR162001

0

-90

340

345

5

103.63

105.16

1.52

0.015

0.51

MR162025

304

-59

280

290

10

85.34

88.39

3.05

0.072

2.47

MR162026

335

-69

315

320

5

96.01

97.54

1.52

0.287

9.84

MR162027

268

-51

385

390

5

117.35

118.87

1.52

0.055

1.89

MR162028

0

-90

No Significant Results

MR162029

0

-90

440

445

5

134.11

135.64

1.52

0.046

1.58

MR162031

0

-90

190

200

10

57.91

60.96

3.05

0.052

1.77

MR162036,038

304

-50

No Significant Results

MR162039

288

-51

No Significant Results

MR162040

196

-65

330

335

5

100.58

102.11

1.52

0.012

0.41

MR162041

243

-55

No Significant Results

MR162042

202

-68

No Significant Results

All holes presented in Table 1 were completed by reverse circulation (RC) drilling. True width is estimated at 80-100% of downhole width. Scorpio Gold utilizes the analytical services of ALS Minerals (Reno, Nevada), an ISO/IEC 17025:2005 (CAN-P-4E, CAN-P-1579) accredited testing laboratory, and Bureau Veritas (Reno, Nevada), an ISO 9001 certified testing laboratory. External check assays to verify lab accuracy are routinely completed. 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 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

 
Contact:
Peter J. Hawley, CEO
+1 819 825 7618
phawley@scorpiogold.com

www.scorpiogold.com
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 permitting approval and open pit mining of the Custer deposit in 2017. 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.


Copyright © 2012 SCORPIO GOLD CORPORATION (TSX: SGN) All rights reserved. For more information visit our website at http://www.scorpiogold.com/ or send email to scorpio@scorpiogold.com