Scorpio Gold Intersects 50.2g/t Gold over 5.6m including 260g/t over 0.9m from Ongoing Underground Drilling at Goldwedge, Nevada
2021年10月26日 - 8:00PM
Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSXV:
SGN) is pleased to announce high-grade results from a hole drilled
to test the on-strike and down-dip continuity of mineralization
within and below the current underground mine workings at the 100%
owned Goldwedge property, located in Nevada.
Drill hole GWUG21-015 returned 50.2 g/t gold
over 5.6m (1.463 oz/ton over 18.5 ft), including a higher-grade
intercept of 260g/t over 0.9m (7.607 oz/ton over 3.0 ft). The
mineralization is hosted within sheared, interbedded limestones and
argillites with quartz and calcite veining (Figures 1-4). The
intersection is located ~7m on strike from historical 2011 drill
hole GWUG-11-2, which reported 56.4g/t gold over 3.1m, including
91.6g/t over 1.5m. The mineralization is situated at an average
depth of ~58m from topographic surface and is located ~350m
northwest of the mine portal. Drilling to further test the extent
of high-grade mineralization along strike and at depth below the
existing mine workings is ongoing. Four additional holes recently
completed at the same drill station as GWUG21-015 are being
processed for analysis. The planned meterage for this drill program
is 2066 meters with 874 meters (42%) completed to date.
To date, the Goldwedge deposit has been traced
over a strike length of ~350m from near surface to a vertical depth
of 160m. The southwestern extent of drilling at the Goldwedge
deposit lies 100m northwest of Scorpio Gold’s most northerly
exploration drill hole in the West Pit area of the Manhattan Mine
Property. Future drilling will test the Company’s structural
interpretation that mineralization at Goldwedge could connect with
mineralization in the West Pit area, where drilling has indicated a
300m continuous trend of mineralization from as shallow as 19m from
surface. Collectively, the Goldwedge, West Pit and East Pit areas
outline a mineralized trend along the Reliance Structural Zone ~2
km in strike length. This trend continues a further 3 km southeast
to Scorpio Gold’s Keystone-Jumbo project area.
Table 1: 2021 Goldwedge
Underground Drilling – Significant Results for GWUG21-015
Hole ID |
Azm (deg) |
Dip (deg) |
From(ft) |
To(ft) |
Width(ft) |
From(m) |
To(m) |
Width(m) |
Gold(oz/t) |
Gold(g/t) |
GWUG21-015 |
221 |
-58 |
2.0 |
20.5 |
18.5 |
0.6 |
6.3 |
5.6 |
1.463 |
50.2 |
Incl. |
|
|
3.0 |
6.0 |
3.0 |
0.9 |
1.8 |
0.9 |
7.607 |
260.9 |
Drill hole GWUG21-015 was completed by NQ size
diamond (core) drilling. Widths are presented as down hole core
lengths; true widths are undefined at this time. Analytical results
were by FAAA procedure by Scorpio Gold’s in-house analytical
laboratory, which does not have ISO/IEC 17025 accreditation but
implements a quality management system compatible with the ISO/IEC
17025 standards and maintains a paperwork and LIMS trail suitable
for future ISO/IEC 17025 accreditation. Certified assay results for
GWUG21-015 by ALS Geochemistry Assay Laboratory Inc. are pending.
Further details of the Company’s quality assurance and quality
control program for the Goldwedge project are available at: GW
QAQC.
Figure 1: Plan view showing
location of GWUG21-015, lithological units and modeled high-grade
veins projected to surface. The significant results to date from
Goldwedge underground drilling can be referred to in the Company’s
news releases dated April 13 and September 29,
2021.https://www.globenewswire.com/NewsRoom/AttachmentNg/03504fa9-529b-41c0-b26e-6357e8587939
Figure 2: Cross-section within 10m
projection volume showing significant intercepts for
GWUG21-015https://www.globenewswire.com/NewsRoom/AttachmentNg/0a836c74-d546-4742-ae4a-8cfbce021a28
Figures 3-4: Core photos and
assays for GWUG21-015. Note: There was no core recovery from 6 to 8
feet downhole. The 260.9 g/t interval represents a 3 ft core
intersection from 3-6 ft
downhole.https://www.globenewswire.com/NewsRoom/AttachmentNg/061b28af-8458-4388-addb-b471c08213e2https://www.globenewswire.com/NewsRoom/AttachmentNg/098239b0-25d6-4ab7-91b5-5dbd8d7cccb2
About Scorpio GoldScorpio Gold
holds a 100% interest in the consolidated Manhattan District in
Nevada comprising the advanced exploration-stage Goldwedge property
in Manhattan, Nevada with a fully permitted underground mine and a
400 ton per day mill facility and the Manhattan Property situated
adjacent and proximal to the Goldwedge property. The Manhattan
Property includes 2 former producing mines, the Reliance Mine,
which reportedly produced ~59,000 tons grading 0.435 oz/ton from
1932 to 1941, and the Manhattan Mine East and West pits, which
produced ~236,000 oz. from 1974-1990. The deposits lie along the
northwest-trending Reliance Structural Zone, which is considered
the most predominant ore controlling structure in the region. The
Reliance trend continues 4 km southeast to Scorpio Gold’s
Keystone-Jumbo project area.
Scorpio Gold also holds 100% interest in the
Mineral Ridge gold project located in Esmeralda County, Nevada.
The technical information contained within this
release has been reviewed and approved by independent geological
consultant, Mohan R Vulimiri, M.Sc., P.Geo., a Qualified Person as
defined by NI 43-101. ON BEHALF OF THE
BOARDSCORPIO GOLD CORPORATIONBrian Lock,
CEO & Director
For further information contact:
Brian Lock, CEOTel: (604) 889-2543Email:
block@scorpiogold.com
Diane Zerga, General ManagerTel: (775)
401-1637Email: dzerga@scorpiogold.com
Anthony Simone, Investor RelationsTel: (416)
881-5154Email: ir@scorpiogold.com
Website: www.scorpiogold.com
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 of its Goldwedge project. 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 mineral 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 a guarantee of future
performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty thereof.
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