Scorpio Gold Intersects 6.06 g/t Gold Over 10.67 Meters at the Solberry Satellite Deposit, Mineral Ridge Project, Nevada
03 Febbraio 2014 - 2:00PM
Marketwired
Scorpio Gold Intersects 6.06 g/t Gold Over 10.67 Meters at the
Solberry Satellite Deposit, Mineral Ridge Project, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 3, 2014) -
Scorpio Gold Corporation ("Scorpio Gold" or the "Company")
(TSX-VENTURE:SGN) reports further results from its 2013 satellite
deposit drilling program at the 70% owned Mineral Ridge project,
located in Nevada. The Solberry deposit lies west of the currently
producing Drinkwater and Mary pits and 600 meters northwest of the
leach pad.
The Solberry is one of the least explored of the satellite
deposits on the Mineral Ridge property. Limited past drilling has
outlined a small shallow resource and floating cone pit shell (as
reported in the Company's August 16, 2013 news release). Twelve
holes drilled in 2013 have provided further evidence that Solberry
is not an isolated zone but forms part of a semi-continuous trend
of mineralization within a shallow-dipping stratigraphic horizon.
This horizon hosts the Oromonte and Wedge deposits to the southeast
and the Bluelite and Brodie deposits to the south. All of these
deposits lie on the western flank of an anticlinal fold structure
and are considered to be related to mineralization within the
Drinkwater-Mary trend, which lies on the eastern flank.
The upcoming 2014 exploration drilling program is designed to
trace known mineralization at Solberry to the south and southeast
toward the Oromonte deposit, and northwestward into untested
ground. The current resource and pit shell at Solberry appear to be
constrained by the extent of historic drilling rather than any
demonstrated termination of the mineralized trend, and the proposed
drill program is targeted at increasing the size and enhancing the
confidence level of the current resource.
Highlights from the 2013 drilling program on the Solberry
deposit include:
- MR13693: 7.03 g/t gold over 7.62 meters
- MR13894: 6.06 g/t gold over 10.67 meters
- MR13698: 1.97 g/t gold over 4.57 meters
A drill hole location map is available at:
www.scorpiogold.com/i/maps/mr/Solberry_DHplan.jpg
Table 1. Solberry 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) |
MR13690 |
0 |
-90 |
15 |
20 |
5 |
4.57 |
6.10 |
1.52 |
0.015 |
0.51 |
|
|
|
40 |
50 |
10 |
12.19 |
15.24 |
3.05 |
0.016 |
0.55 |
|
|
|
565 |
570 |
5 |
172.21 |
173.74 |
1.52 |
0.010 |
0.34 |
MR13691 |
0 |
-90 |
70 |
75 |
5 |
21.34 |
22.86 |
1.52 |
0.021 |
0.72 |
MR13692 |
0 |
-90 |
0 |
5 |
5 |
0.00 |
1.52 |
1.52 |
0.012 |
0.41 |
|
|
|
25 |
30 |
5 |
7.62 |
9.14 |
1.52 |
0.016 |
0.55 |
MR13693 |
0 |
-90 |
30 |
55 |
25 |
9.14 |
16.76 |
7.62 |
0.205 |
7.03 |
|
|
|
65 |
75 |
10 |
19.81 |
22.86 |
3.05 |
0.013 |
0.45 |
MR13694 |
0 |
-90 |
35 |
40 |
5 |
10.67 |
12.19 |
1.52 |
0.035 |
1.20 |
|
|
|
70 |
105 |
35 |
21.34 |
32.00 |
10.67 |
0.177 |
6.06 |
MR13695 |
0 |
-90 |
No Significant Results |
MR13696 |
0 |
-90 |
10 |
15 |
5 |
3.05 |
4.57 |
1.52 |
0.040 |
1.37 |
|
|
|
90 |
95 |
5 |
27.43 |
28.96 |
1.52 |
0.018 |
0.62 |
|
|
|
115 |
135 |
20 |
35.05 |
41.15 |
6.10 |
0.040 |
1.36 |
MR13697 |
0 |
-90 |
No Significant Results |
MR13698 |
0 |
-90 |
65 |
80 |
15 |
19.81 |
24.38 |
4.57 |
0.057 |
1.97 |
MR13699 |
0 |
-90 |
0 |
5 |
5 |
0.00 |
1.52 |
1.52 |
0.052 |
1.78 |
|
|
|
15 |
25 |
10 |
4.57 |
7.62 |
3.05 |
0.047 |
1.59 |
|
|
|
170 |
180 |
10 |
51.82 |
54.86 |
3.05 |
0.023 |
0.79 |
MR13700 |
0 |
-90 |
25 |
30 |
5 |
7.62 |
9.14 |
1.52 |
0.031 |
1.06 |
|
|
|
40 |
50 |
10 |
12.19 |
15.24 |
3.05 |
0.026 |
0.87 |
MR13701 |
0 |
-90 |
10 |
15 |
5 |
3.05 |
4.57 |
1.52 |
0.023 |
0.79 |
All holes presented in Table 1 were completed by reverse
circulation (RC) drilling. 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. Further details are
presented in the Company's quality assurance and quality control
program for the Mineral Ridge project at:
www.scorpiogold.com/i/pdf/reports/QAQC-MR.pdf.
About Scorpio Gold
Scorpio Gold holds a 70% interest in the Mineral Ridge gold
mining operation located in Esmeralda County, Nevada with joint
venture partner Waterton Global Value L.P. (30%), and is currently
entitled to receive 80% of cash flow generated. Mineral Ridge is
currently in production as 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, and is currently in
process of selling the advanced exploration-stage Pinon gold
property near Carlin, 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 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, CEO
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 future
drilling, future resource estimates and other exploration
activities on the satellite deposits. 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 exploration 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.
Scorpio Gold CorporationSteve RoebuckPresident(819)
825-7618sroebuck@scorpiogold.comwww.scorpiogold.comInvestor
Relations:Jim MacdonaldTorrey Hills Capital(858)
456-7300jm@sdthc.com
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