Scorpio Gold Intersects 3.10 g/t over 9.14 meters at the Mary LC Zone, Mineral Ridge Project, Nevada
11 Febbraio 2014 - 2:00PM
Marketwired
Scorpio Gold Intersects 3.10 g/t over 9.14 meters at the Mary LC
Zone, Mineral Ridge Project, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 11, 2014) -
Scorpio Gold Corporation ("Scorpio Gold" or the "Company")
(TSX-VENTURE:SGN) reports additional results from its 2013 drill
program in the vicinity of the proposed Mary LC pit expansion at
the 70% owned Mineral Ridge project, located in Nevada. The Mary LC
lies immediately southeast of the currently active Mary pit.
The 2013 program targeted undrilled areas within the Mary LC pit
expansion design to determine if mineralization exists, tighten up
drill hole spacing for resource estimation, and follow up on
mineralized trends either below the proposed pit shell floor or
outside of the existing cone boundary. The drilling has had a very
high success rate, with over 85% of the holes to date intersecting
mineralization in areas previously accorded zero grade within the
block model. Completion of a new reserve estimate and Life of Mine
assessment, which will incorporate the Drinkwater, Mary and Mary
LC, is expected in Q1 2014.
Scorpio Gold recently received approval from the Nevada Bureau
of Land Management for its Amended Plan of Operations, allowing the
Company to proceed with the planned expansion of the Mary pit to
incorporate the Mary LC zone. The new Mary/LC pit will have
dimensions far exceeding the currently operating Drinkwater
pit.
Highlights from the 2013 drilling program on the Mary LC
include:
- MR13702: 3.10 g/t gold over 9.14 meters
- MR13711: 2.86 g/t gold over 6.10 meters
- MR13624: 2.18 g/t gold over 7.62 meters
- MR13626: 3.94 g/t gold over 4.57 meters
A drill hole location map is available at:
www.scorpiogold.com/i/maps/mr/MaryLC_DHplan2.jpg
Table 1. Mary LC - 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) |
MR13702 |
0 |
-90 |
220 |
250 |
30 |
67.06 |
76.20 |
9.14 |
0.091 |
3.10 |
MR13703 |
0 |
-90 |
150 |
160 |
10 |
45.72 |
48.77 |
3.05 |
0.153 |
5.23 |
|
|
|
190 |
200 |
10 |
57.91 |
60.96 |
3.05 |
0.012 |
0.41 |
MR13704 |
0 |
-90 |
75 |
80 |
5 |
22.86 |
24.38 |
1.52 |
0.012 |
0.41 |
|
|
|
170 |
180 |
10 |
51.82 |
54.86 |
3.05 |
0.017 |
0.58 |
MR13705 |
0 |
-90 |
195 |
200 |
5 |
59.44 |
60.96 |
1.52 |
0.027 |
0.93 |
MR13706 |
225 |
-55 |
No Significant Results |
MR13707 |
0 |
-90 |
45 |
50 |
5 |
13.72 |
15.24 |
1.52 |
0.012 |
0.41 |
MR13708 |
0 |
-90 |
15 |
20 |
5 |
4.57 |
6.10 |
1.52 |
0.024 |
0.82 |
|
|
|
90 |
95 |
5 |
27.43 |
28.96 |
1.52 |
0.084 |
2.88 |
|
|
|
115 |
125 |
10 |
35.05 |
38.10 |
3.05 |
0.015 |
0.51 |
MR13709 |
0 |
-90 |
30 |
35 |
5 |
9.14 |
10.67 |
1.52 |
0.010 |
0.34 |
|
|
|
105 |
115 |
10 |
32.00 |
35.05 |
3.05 |
0.022 |
0.74 |
MR13711 |
225 |
-66 |
175 |
195 |
20 |
53.34 |
59.44 |
6.10 |
0.084 |
2.86 |
|
|
|
270 |
280 |
10 |
82.30 |
85.34 |
3.05 |
0.076 |
2.61 |
MR13712 |
225 |
-70 |
255 |
265 |
10 |
77.72 |
80.77 |
3.05 |
0.021 |
0.70 |
MR13713 |
0 |
-90 |
160 |
165 |
5 |
48.77 |
50.29 |
1.52 |
0.014 |
0.48 |
|
|
|
280 |
295 |
15 |
85.34 |
89.92 |
4.57 |
0.087 |
2.99 |
MR13617 |
0 |
-90 |
155 |
160 |
5 |
47.24 |
48.77 |
1.52 |
0.016 |
0.55 |
|
|
|
180 |
185 |
5 |
54.86 |
56.39 |
1.52 |
0.046 |
1.58 |
|
|
|
230 |
235 |
5 |
70.10 |
71.63 |
1.52 |
0.028 |
0.96 |
MR13618 |
225 |
-50 |
70 |
75 |
5 |
21.34 |
22.86 |
1.52 |
0.030 |
1.03 |
|
|
|
125 |
130 |
5 |
38.10 |
39.62 |
1.52 |
0.061 |
2.09 |
MR13619 |
225 |
-60 |
165 |
170 |
5 |
50.29 |
51.82 |
1.52 |
0.055 |
1.89 |
MR13620 |
0 |
-90 |
0 |
5 |
5 |
0.00 |
1.52 |
1.52 |
0.013 |
0.45 |
|
|
|
165 |
185 |
20 |
50.29 |
56.39 |
6.10 |
0.030 |
1.04 |
MR13621 |
0 |
-90 |
165 |
170 |
5 |
50.29 |
51.82 |
1.52 |
0.012 |
0.41 |
MR13622 |
0 |
-90 |
155 |
160 |
5 |
47.24 |
48.77 |
1.52 |
0.106 |
3.63 |
|
|
|
195 |
200 |
5 |
59.44 |
60.96 |
1.52 |
0.019 |
0.65 |
MR13623 |
0 |
-90 |
145 |
155 |
10 |
44.20 |
47.24 |
3.05 |
0.015 |
0.51 |
MR13624 |
225 |
-60 |
110 |
135 |
25 |
33.53 |
41.15 |
7.62 |
0.064 |
2.18 |
MR13625 |
0 |
-90 |
195 |
215 |
20 |
59.44 |
65.53 |
6.10 |
0.055 |
1.89 |
MR13626 |
225 |
-55 |
170 |
185 |
15 |
51.82 |
56.39 |
4.57 |
0.115 |
3.94 |
MR13627 |
0 |
-90 |
155 |
175 |
20 |
47.24 |
53.34 |
6.10 |
0.033 |
1.12 |
MR13628 |
0 |
-90 |
125 |
135 |
10 |
38.10 |
41.15 |
3.05 |
0.019 |
0.65 |
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 has entered into a
letter of intent to sell 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 plans for
the Mary LC pit expansion and the completion of an updated mineral
reserve estimate and life of mine assessment for the Mineral Ridge
property. 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:Torrey Hills CapitalJim Macdonald(858)
456-7300jm@sdthc.com
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