Scorpio gold reports the final results from their 2014 expansion drilling program

 

Scorpio Gold completes their 2014 expansion drill program at Mineral Ridge, Nevada (70%)

Best hole reported 1.52 m of 1.51 g/t Au at Mineral Ridge, and rounded off a good year from their exploration program during 2014.

Comment

Whilst not startling, these results round off a good year for Scorpio, who delivered on their objectives during 2014, with solid drill results and good potential new deposits.

Management are striving to add to the short LOM, and exploration results from their new Goldwedge property will be eagerly awaited in 2015, as will the result of the processing of the high grade ore from Mineral Ridge which will increase the recovery grade and provide early additional cashflow.

A strong management team are using all their experience to add more resources, re-investing millions of dollars in expanding the deposit without diluting their shareholders, a rare beast on the Toronto Venture Exchange.

 

Official News Release

2014-12-22

Mr. Peter Hawley reports

Scorpio Gold reports final results from the 2014 expansion drilling at the Ormonte and Wedge satellite deposits at Mneral Ridge, Nevada.

Scorpio Gold Corp. {TSX.V: SGN} has released final assay results from its 2014 expansion drilling program on the Oromonte and Wedge deposits at its 70-per-cent-owned Mineral Ridge project, located in Nevada. Both deposits are located west of the Drinkwater pit and north of the leach pad.

Results presented in the tables postdate the March 31, 2014, cut-off date for the life-of-mine plan that was reported in the company’s July 21, 2014, news release. The three holes drilled at Oromonte are 75-metre to 150 m step-out holes to the southwest of the deposit in a previously untested area. Oromonte continues to be the least explored of the satellite deposits and further drilling is planned in 2015. The four holes drilled on the Wedge deposit lie outside of the 2014 floated cone outline. In conjunction with drill results reported in the company’s July 8, 2014, news release, results from the 2014 expansion drilling program are expected to increase and upgrade the current resource estimate for the Wedge deposit.

Table 1. Oromonte Deposit – 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)
MR14836 0 -90 95 100 5 28.96 30.48 1.52 0.010 0.34
525 535 10 160.02 163.07 3.05 0.015 0.50
MR14844 0 -90 475 480 5 144.78 146.30 1.52 0.015 0.51
MR14846 0 -90 235 240 5 71.63 73.15 1.52 0.019 0.65
340 345 5 103.63 105.16 1.52 0.020 0.68
500 505 5 152.40 153.92 1.52 0.025 0.84

Table 2. Wedge Deposit – 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)
MR141064 0 -90 90 105 15 27.43 32.00 4.57 0.009 0.31
MR141065 0 -90 No Significant Results
MR141066 0 -90 30 35 5 9.14 10.67 1.52 0.044 1.51
55 60 5 16.76 18.29 1.52 0.016 0.55
MR141068 0 -90 No Significant Results

All holes presented in the tables were completed by reverse circulation (RC) drilling. True width is estimated at 80 per cent to 100 per cent of downhole width. Analytical results were performed by American Assay Laboratory Inc. in Sparks, Nev., 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 the company’s website.

Scorpio drills 1.52 m of 1.51 g/t Au at Mineral Ridge