Scorpio Gold {TSX.V: SGN} CEO Peter Hawley reported the final drill results of 2014, expansion drilling at their Bluelite satellite deposit at Mineral Ridge, Nevada.
The highlight was 7 grams per ton over three metres, in a program where most holes reported grades at shallow depth.
Comment
Scorpio management are obviously very pleased with the results of their 2014 drill campaign as they seek to extend the life of mine at Mineral Ridge.
The results support the possibility of an upgrade and expansion of the mineral resources at Bluelite, and offers the potential of further expansion to the south of this deposit.
Management have once again delivered on their objectives,
All in all a good year for Scorpio, one of the few junior miners in production, funding their own extensive exploration, and actually making a profit!
—
Official News Release
Mr. Peter Hawley reports
Scorpio Gold{TSX.V:SGN}- Final results from the 2014 expansion drilling program at the Bluelite satellite deposit, Mineral Risge, Nevada, USA.
Scorpio Gold Corp. has released final results from the 2014 expansion drilling program on the Bluelite deposit at its 70-per-cent-owned Mineral Ridge project, located in Nevada.
These final results cap a very successful program of expansion drilling on the Bluelite deposit, which included both infill and step-out drilling to expand and upgrade the current mineral reserve and resource estimate for the deposit and potentially extend life of mine.
In addition to expanding the margins of the currently modelled pit shell outline, step-out drilling tested a 75-to-100-metre-wide area of mineralization that trends south from the deposit for a minimum of 150 metres (open). This previously undrilled area lies well outside of currently defined resources and will be the focus of further drilling in 2015.
Management believes that results from the 2014 drilling program will lead to an upgrade and expansion of the mineral resources currently defined for the Bluelite deposit and potentially allow for building a new resource in the wide area of mineralization that extends directly south of it.
Highlights of the final results from the 2014 expansion drilling on the Bluelite deposit include:
- MR141983: 5.8 grams per tonne gold over 3.66 metres
- MR141038: 2.19 g/t gold over 4.57 m
- MR141050: 7.7 g/t gold over 3.05 m
- Table 1. Bluelite Deposit – Significant Drill Results
| Hole No. |
Azm (deg) |
Dip (deg) |
From (m) |
To (m) |
Width (m) |
Gold (g/t) |
|
| MR14983 | 0 | -90 | 12.04 | 15.70 | 3.66 | 5.80 | |
| MR14984 | 341 | -75 | 0.00 | 2.50 | 2.50 | 0.48 | |
| 38.62 | 40.78 | 2.16 | 0.41 | ||||
| 43.59 | 45.05 | 1.46 | 0.61 | ||||
| 106.38 | 106.74 | 0.37 | 2.53 | ||||
| MR141038 | 0 | -90 | 22.86 | 27.43 | 4.57 | 2.19 | |
| 39.62 | 41.15 | 1.52 | 0.45 | ||||
| 71.63 | 73.15 | 1.52 | 0.41 | ||||
| 77.72 | 79.25 | 1.52 | 0.58 | ||||
| 82.30 | 85.34 | 3.05 | 1.54 | ||||
| 88.39 | 89.92 | 1.52 | 0.45 | ||||
| MR141050 | 225 | -75 | 19.81 | 22.86 | 3.05 | 7.70 | |
| 71.63 | 73.15 | 1.52 | 0.38 | ||||
| 100.58 | 102.11 | 1.52 | 0.79 | ||||
| 166.12 | 167.64 | 1.52 | 0.58 | ||||
| MR141069 | 0 | -90 | 94.49 | 96.01 | 1.52 | 0.39 | |
| 100.58 | 102.11 | 1.52 | 0.88 | ||||
| MR141100 | 0 | -90 | 94.49 | 96.01 | 1.52 | 0.39 | |
| 100.58 | 102.11 | 1.52 | 0.88 | ||||
| MR141112 | 0 | -90 | 16.76 | 18.29 | 1.52 | 1.22 | |
| 24.38 | 25.91 | 1.52 | 0.35 | ||||
| 32.00 | 33.53 | 1.52 | 0.35 | ||||
| 41.15 | 42.67 | 1.52 | 0.52 | ||||
| MR141119 | 0 | -90 | 36.58 | 41.15 | 4.57 | 0.98 |
All holes presented in Table 1 were completed by reverse circulation (RC) drilling with the exception of two core holes, MR14983-4. True width is estimated at 90-100% 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 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 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