Scorpio Gold {TSX.V:SGN} continued their run of news releases to the market with a further drilling update from the Bluelite Deposit at Mineral Ridge, Nevada.
Of particular note are the shallow depths that these grades were located at, starting at 12 meters.
Scorpio Gold Reports Results from 2014 Expansion Drilling at the Bluelite Satellite Deposit, Mineral Ridge Project, Nevada
Scorpio Gold Corp. {TSX-V: SGN} reports additional results from its 2014 satellite deposit drilling program at the 70% owned Mineral Ridge project, located in Nevada. The Bluelite deposit lies west of the currently producing Drinkwater and Mary/LC pits and 400 meters northwest of the leach pad.
On July 21, 2014, the Company reported an updated Life of Mine Plan (“LOM”) for the Mineral Ridge Operation, which encompasses the currently producing Drinkwater and Mary/LC pits and five adjacent satellite deposits, including the Bluelite deposit. The cut-off date for the LOM was March 31, 2014. Continued drilling since the March 31, 2014 cut-off date is designed to potentially upgrade and increase the reported mineral reserve and resource estimate and potentially extend life of mine. Drilling on the Bluelite deposit continues to meet with success, returning significant intercepts both within and extending outside of the pit shell outline modelled in the updated LOM.
Highlights from this latest phase of RC drilling on the Bluelite deposit include:
- MR14880: 1.27 grams per tonne (“g/t”) gold over 6.10 meters
- MR14972: 6.51 g/t gold over 3.05 meters
- MR14973: 1.45 g/t gold over 4.57 meters
- MR14977: 7.68 g/t gold over 6.10 meters
- MR14978: 5.28 g/t gold over 6.10 meters
- MR141045: 12.42 g/t gold over 4.57 meters
A drill hole location map is available at: View Drill Plan.
Table 1. Bluelite Deposit – Significant Drill Results
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. Further details are presented in the Company’s quality assurance and quality control program for the Mineral Ridge project at: View PDF.
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