NYBob
5年前
$SCORPIO GOLD REPORTS 71.3 G/T GOLD OVER 4.6 M INCLUDING 203.1 G/T OVER 1.5 M AT THE MANHATTAN MINE PROPERTY, NEVADA
November 2, 2021
Vancouver, November 2, 2021 –
https://www.scorpiogold.com/news/scorpio-gold-reports-71.3-g-t-gold-over-4.6-m-including-203.1-g-t-over-1.5-m-at-the-manhattan-mine-property-nevada/
Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSXV: SGN) is pleased to provide an update of its surface RC drilling program at the Manhattan West and East pits of the recently acquired Kinross Manhattan Property in Manhattan, Nevada.
The first phase of the RC drilling program is now complete, with 31 holes (6907m) drilled including 19 holes in the West Pit area and 12 holes at East Pit area (Figures 1 and 2). Assay results received for 12 of the holes were reported in the Company’s July 20 and September 7, 2021 news releases, reporting near surface, high-grade mineralization over broad intersections in the West Pit area. Assay results for 2 additional holes are presented in Table 1. Results for the remaining holes will be provided following the receipt of confirmation assays from ALS Minerals Laboratory.
Drill hole MWRC21-004 returned a high-grade intersection of 71.3g/t gold over 4.6m including 203.1 g/t over 1.5 m (Table 1). The lithology and mineralization noted in rock chips from the intersection closely resembles the high-grade intersection in previously reported MWRC21-001, which returned 20.04 g/t gold over 15.3 m. Hole 004 is located 297m southeast of 001 along the strike of the mineralized structural trend.
Drill hole MWRC21-003 collared ~140m northwest of 004 intersected a barren fault zone at the expected target depth, suggesting the mineralized zone is faulted out in this location. Gold mineralization was encountered a further 30m downhole within a stockwork calcite zone returning 2.03 g/t gold over 6.1m (Table 1).
Table 1: Manhattan Mine Drilling - Significant Results
https://www.scorpiogold.com/news/scorpio-gold-reports-71.3-g-t-gold-over-4.6-m-including-203.1-g-t-over-1.5-m-at-the-manhattan-mine-property-nevada/
Website: http://www.scorpiogold.com
https://www.scorpiogold.com/news/scorpio-gold-intersects-50pt2g-t-gold-over-5.6m-including-260g-t-over-0p9m-from-ongoing-underground-drilling-at-goldwedge-nevada/
https://www.scorpiogold.com/news/#2021
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
NYBob
5年前
$Scorpio Gold Reports 71.3 g/t Gold over 4.6 m including 203.1 g/t over 1.5 m at the Manhattan Mine Property, Nevada
V.SGN |
VANCOUVER, British Columbia, Nov. 02, 2021 (GLOBE NEWSWIRE) --
Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSXV: SGN)
is pleased to provide an update of its surface RC drilling program at
the Manhattan West and East pits of the recently acquired Kinross
Manhattan Property in Manhattan, Nevada.
The first phase of the RC drilling program is now complete, with 31 holes (6907m) drilled including 19 holes in the West Pit area and 12 holes at East Pit area (Figures 1 and 2). Assay results received for 12 of the holes were reported in the Company’s July 20 and September 7, 2021 news releases, reporting near surface, high-grade mineralization over broad intersections in the West Pit area. Assay results for 2 additional holes are presented in Table 1. Results for the remaining holes will be provided following the receipt of confirmation assays from ALS Minerals Laboratory.
Drill hole MWRC21-004 returned a high-grade intersection of 71.3g/t gold over 4.6m including 203.1 g/t over 1.5 m (Table 1). The lithology and mineralization noted in rock chips from the intersection closely resembles the high-grade intersection in previously reported MWRC21-001, which returned 20.04 g/t gold over 15.3 m. Hole 004 is located 297m southeast of 001 along the strike of the mineralized structural trend.
Drill hole MWRC21-003 collared ~140m northwest of 004 intersected a barren fault zone at the expected target depth, suggesting the mineralized zone is faulted out in this location. Gold mineralization was encountered a further 30m downhole within a stockwork calcite zone returning 2.03 g/t gold over 6.1m (Table 1).
Table 1: Manhattan Mine Drilling - Significant Results
Hole ID Azm
(deg) Dip
(deg) From
(ft) To
(ft) Width
(ft) Gold
(oz/T) From
(m) To
(m) Width
(m) Gold
(g/t)
West Pit Area
MWRC21-003 60 -48 495.0 515.0 20.0 0.059 150.9 157.0 6.1 2.03
MWRC21-004 60 -48 320.0 335.0 15.0 2.079 97.6 102.2 4.6 71.32
Including 320.0 325.0 5.0 5.920 97.6 99.1 1.5 203.08
Note: All holes presented in Table 1 were completed by reverse circulation (RC) drilling. Widths are presented as down hole core lengths; true widths are undefined at this time. All analytical results were performed by ALS Minerals Laboratory, in Reno, Nevada an ISO/IEC 17025:2005 accredited facility, utilizing fire assay with gravimetric finish analysis. Further details are presented in the Company’s quality assurance and quality control program for the Goldwedge project available at: GW QAQC. The same protocols apply to the Manhattan project.
Drilling in the West Pit area (Figure 1) is targeting gold mineralization in the vicinity of the northwesterly-trending and northeasterly-dipping Little Gray fault zone, at the junction of prominent cross structures postulated to control high-grade mineralization. The Little Gray fault zone appears to be post-mineralization in age and has upthrown the mineralized block to near surface in this area. Gold mineralization is hosted within intensely faulted and folded quartz ± mica schist within the Paleozoic Goldhill Formation metasediments. Results received from the drilling to date indicate a 300m continuous trend of mineralization from the West Pit northward from as shallow as 19m from surface.
This latest phase of drilling along with historical exploration and production drilling at the Manhattan Mine indicates a shallow, southwesterly dipping trend to mineralization. Targeted core drilling and systematic RC definition drilling will be required to fully determine the potential and the modes of occurrence of the mineralization.
Figure 1. Geological plan map of the West and East pits in the Manhattan Mine area.
https://www.globenewswire.com/NewsRoom/AttachmentNg/40d87408-3fe3-4f97-bc92-73e78b9935d1
Figure 2. Aerial photo showing 2021 drill hole locations in the West and East pit areas.
https://www.globenewswire.com/NewsRoom/AttachmentNg/60efecda-d8c7-4055-90e9-f2eb43782b0e
About Scorpio Gold
Scorpio Gold now 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 a 100% interest of the Manhattan Property situated adjacent and proximal to the Goldwedge property.
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 BOARD
SCORPIO GOLD CORPORATION
Brian Lock,
CEO & Director
For further information contact:
Brian Lock, CEO
Tel: (604) 889-2543
Email: block@scorpiogold.com
Diane Zerga, General Manager
Tel: (775) 401-1637
Email: dzerga@scorpiogold.com
Anthony Simone, Investor Relations
Tel: (416) 881-5154
Email: ir@scorpiogold.com
Website: http://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.
https://investorshub.advfn.com/secure/post_reply.aspx?message_id=163486026
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
NYBob
5年前
$SCORPIO GOLD REPORTS 9.02 G/T GOLD OVER 7.4 METERS FROM ONGOING UNDERGROUND DRILLING AT GOLDWEDGE, NEVADA
April 13, 2021
Vancouver, April 13, 2021 –
$Scorpio Gold Corporation (“Scorpio Gold” or the “Company”)
(TSXV: SGN) is pleased to announce results from the first 3 holes
of its underground drilling program at
the 100% owned Goldwedge property, located in Nevada.
The current program is focused on defining the on-strike and
down-dip continuity of mineralization intersected in
the 2020 drilling (July 27, 2020 news release) as well as
testing new areas with the potential to define
a mineral resource base.
Results to date indicate the extension of mineralization southward,
hosted within sheared, metamorphosed, interbedded limestones and
argillites with quartz, and calcite veining.
Highlights include 7.4 meters grading 9.02 g/t,
5.3 meters grading 5.11 g/t and
2.7 meters grading 9.19 g/t
(Table 1), situated in an area with an average depth from topographic
surface of 25 m.
Drilling is currently ongoing at the northern section to test
mineralization continuity in that strike direction.
The planned footage for this drilling program is
6,772 ft with 1,217 ft (18%) completed to date.
Table 1: 2021 Goldwedge Underground Drilling –
Significant Results to Date
https://www.scorpiogold.com/news/scorpio-gold-reports-9.02-g-t-gold-over-7.4-meters-from-ongoing-underground-drilling-at-goldwedge-nevada/
$About Scorpio Gold
$Scorpio Gold now 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
a 100% interest of the Manhattan Property
situated adjacent and proximal to The Goldwedge property.
Scorpio Gold is party to an earn-in option agreement with
Titan Mining Corporation whereby Titan can earn an 80% joint venture
interest on the Company’s 100% owned Mineral Ridge gold project
located in Esmeralda County, Nevada.
To maintain the option Titan must spend a total of US$35 million
over a staged period of five years.
If Titan spends the initial US$7 million of expenditures
by January 1, 2022, it will also have the right to acquire
a 100% interest by
paying Scorpio Gold US$35 million on or
before December 31, 2022.
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 BOARD
SCORPIO GOLD CORPORATION
Brian Lock,
CEO & Director
For further information contact:
Brian Lock, CEO
Tel: (604) 889-2543
Email: block@scorpiogold.com
Diane Zerga, General Manager
Tel: (775) 401-1637
Email: dzerga@scorpiogold.com
Anthony Simone, Investor Relations
Tel: (416) 881-5154
Email: ir@scorpiogold.com
Website:
http://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.
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
Captain Black Bob Blanco
6年前
SCORPIO GOLD EXECUTES THE KINROSS MANHATTAN PROJECT AGREEMENT
October 14, 2020
Vancouver, October 14, 2020 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSXV: SGN) is pleased to announce it has executed a definitive agreement for the acquisition of the Manhattan Project Properties (the “Manhattan Property”) located in Nye Country, Nevada situated adjacent and proximal to Scorpio Gold’s Goldwedge property (see July 20, 2020 news release).
This acquisition of 4,300 acres combined with the Goldwedge 1,771 acres gives Scorpio Gold complete land control of 6,071 acres around the Goldwedge facility, providing the opportunity to expand surface operations and the potential for expanding underground mining and exploration. It also consolidates a large land position along the Reliance Fault Zone, which has significant exploration potential for high-grade gold targets at the intersections of the Reliance structure and ring faulting related to the Manhattan Caldera. The Manhattan Property is comprised of 22 patented claims and 219 unpatented claims situated adjacent and proximal to the Company’s Goldwedge property.
The Company is well funded to drive an extensive exploration program at the Goldwedge Mine, in the Keystone-Jumbo deposit area and the Manhattan Property. An underground delineation drilling program is in progress at the Goldwedge Mine and planning for surface drilling on high-priority targets over the entire land package is underway.
The Manhattan Property is located within the Manhattan Mining District and centered ~17 km south of the +15 million oz. Round Mountain Mine. It adjoins the southwest boundary of the Scorpio Gold’s Goldwedge property and includes 2 former producing mines. The Reliance Mine, located within 600 metres of the Goldwedge deposit, reportedly produced ~59,000 tons grading 0.435 oz/ton from 1932 to 1941. The Manhattan Mine East and West pits situated 600-1,000 meters southwest of Goldwedge produced ~236,000 oz. from 1974-1990. The deposits lie along the northwest-trending Reliance Fault 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.
Regionally, the Round Mountain and Manhattan-Goldwedge properties are situated on the northern and southern periphery, respectively, of the tertiary-aged Manhattan Caldera (24.4 Ma). Formation of the caldera is thought to have a genetic relation to the formation of gold deposits in the district. Gold deposits are primarily structurally controlled quartz-silver bearing veins and stockworks in Paleozoic-aged metasediments. The predominate style and timing of mineralization in the region is epithermal low to intermediate sulfidation systems ranging from 26 Ma to 16 Ma in age, although Carlin-style mineralization has also been noted within the district (e.g. White Caps Mine).
Considerable exploration work has been conducted by various operators since production ended at the Manhattan Mine in 1990. The consolidation of a large land package that includes the Goldwedge, Reliance and Manhattan mines provides an exceptional exploration opportunity for the Company.
Consideration of US$100,000 and the issue of the equivalent value of US$150,000 common shares will be paid/issued at closing after all the closing conditions have been met or waived. Upon closing, the Manhattan Property will be subject to an existing 2% net smelter returns royalty and certain reserved water rights as defined in the agreement. Round Mountain Gold Corporation (“RMGC”) and KG Mining (Round Mountain) Inc. (the “Sellers”) will also provide copies of all non-interpretive geologic data, mining records and land status information and any drill core samples relating to the Manhattan Property that the Sellers own or control. In addition, the Company has arranged for substitute surety arrangements in a form acceptable to each of the government authorities in the amount of US$191,188.
About Scorpio Gold
Scorpio Gold holds a 100% interest in the advanced exploration-stage Goldwedge property in Manhattan, Nevada with a fully permitted underground mine and a 400 ton per day mill facility and a 100% interest of the Manhattan Property situated adjacent and proximal to the Goldwedge property. The Company is in the process of finalizing the acquisition of the adjacent Kinross Manhattan property.
Scorpio Gold is party to an earn-in option agreement with Titan Mining Corporation whereby Titan can earn an 80% joint venture interest on the Company’s 100% owned Mineral Ridge gold project located in Esmeralda County, Nevada. To maintain the option Titan must spend a total of US$35 million over a staged period of five years. If Titan spends the initial US$7 million of expenditures by January 1, 2022, it will also have the right to acquire a 100% interest by paying Scorpio Gold US$35 million on or before December 31, 2022.
ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION
Brian Lock,
Chief Executive Officer
For further information contact:
Brian Lock, CEO
Tel: (604) 889-2543
Email: block@scorpiogold.com
Anthony Simone
Tel: (416) 881-5154
Email: ir@scorpiogold.com
Website: www.scorpiogold.com
Captain Black Bob Blanco
6年前
SCORPIO GOLD BEGINS UNDERGROUND BULK SAMPLING PROGRAM AT ITS GOLDWEDGE MINE, NEVADA
October 13, 2020
Vancouver, October 13, 2020 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) is pleased to announce the commencement of an underground bulk sampling program and preliminary metallurgical testing at its 100% owned Goldwedge Mine located in Manhattan Nevada. The program is intended to provide additional information where 2020 drilling intersected high-grade gold and silver mineralization proximal to underground workings as reported in the Company’s news release dated July 27, 2020.
Scorpio Gold contracted Nevada Rand Mining LLC (“NRM”) to conduct the underground program which began on October 7, 2020. The sampling will focus on an area where 2020 underground drill hole GWUG20-001 intersected 7.6 m averaging 12.47 g/t gold and 176.23 g/t silver, that included 1.52 m grading 53.49 g/t gold and 0.15 m grading 3,960 g/t silver. Hole GWUG20-001 was collared in the face of cross-cut “A” at the 2060 m (6760 ft) elevation and was drilled at 247° azimuth and -10° dip. The hole intersected the high-grade mineralization from 25.3 to 32.9 m downhole. A 9 x 9 ft drift will be developed from the crosscut face through the mineralized zone encountered in hole GWUG20-001 for bulk sampling purposes. Once completed, this drift will also be proximal to mineralization intersected in 2020 drill holes, GWUG20-002 and GWUG20-003.
Diane Zerga, General Manager for Mineral Ridge LLC & Goldwedge LLC, comments, “We are pleased to work with NRM to advance our understanding of the mineralization at the Goldwedge Mine, which in turn will assist in future drill planning, potential test mining and test milling at the Goldwedge mill facility.”
As reported in the Company’s July 27, 2020 news release, several samples from the 2020 drilling were submitted for screen fire assay to determine any variability of the assay results in the fine and coarse fractions. Results from this testing indicated that a coarse component for both gold and silver is present, and although the gold results are fairly repeatable when compared to the original assays, there was a significant increase in silver values in many of the results.
The bulk sample program will consist of muck and channel sampling to provide a better representation of the gold and silver grade distribution within the mineralized zone. Metallurgical testing will also be conducted as a preliminary test to determine how the material will respond to conventional milling processes.
NRM will be utilizing the existing Goldwedge mining equipment to complete the program, including a Tamrock EMCO 985 15 ton haul truck, a Wagner 3.5 yard scooptram, and an MWS83 jack leg drill.
About Scorpio Gold
Scorpio Gold holds a 100% interest in the advanced exploration-stage Goldwedge property in Manhattan, Nevada with a fully permitted underground mine and a 400 ton per day mill facility and a 100% interest of the Manhattan Property situated adjacent and proximal to the Goldwedge property. The Company is in the process of finalizing the acquisition of the adjacent Kinross Manhattan property.
Scorpio Gold is party to an earn-in option agreement with Titan Mining Corporation whereby Titan can earn an 80% joint venture interest on the Company’s 100% owned Mineral Ridge gold project located in Esmeralda County, Nevada. To maintain the option Titan must spend a total of US$35 million over a staged period of five years. If Titan spends the initial US$7 million of expenditures by January 1, 2022, it will also have the right to acquire a 100% interest by paying Scorpio Gold US$35 million on or before December 31, 2022.
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 BOARD
SCORPIO GOLD CORPORATION
Brian Lock,
Chief Executive Officer
For further information contact:
Brian Lock, CEO
Tel: (604) 889-2543
Email: block@scorpiogold.com
Anthony Simone
Tel: (416) 881-5154
Email: ir@scorpiogold.com
Website: www.scorpiogold.com
Captain Black Bob Blanco
6年前
SCORPIO GOLD ANNOUNCES OPTION AGREEMENT WITH TITAN MINING TO EARN 80% INTEREST IN THE MINERAL RIDGE PROPERTY FOR US$35M OF EXPENDITURES OR 100% FOR US$35M PAYMENT, AND RELATED C$5M EQUITY FINANCING
Vancouver, August 31, 2020 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) is pleased to announce, subject to TSX Venture Exchange approval, a part and parcel transaction whereby Scorpio Gold will raise C$5 million in equity and has granted an option to Titan Mining Corporation (“Titan”) to earn an 80% interest in the Mineral Ridge Property, located in Nevada, by spending US$35 million on exploration over five years. If Titan spends US$7 million of exploration expenditures on Mineral Ridge, it will also receive the right to acquire a 100% interest in Mineral Ridge by making a cash payment to Scorpio Gold of US$35 million on or before December 31, 2022.
Brian Lock, CEO, comments “The Titan agreement provides a direct opportunity to build on the substantial value of the Mineral Ridge Property that was outlined in the 2018 updated feasibility study. Titan has stated their intention to immediately commence a comprehensive drilling campaign that will focus on the down-dip and strike extensions of the existing deposits and systematically test seven other high-priority exploration targets. This will be the first wide-ranging exploration drill program conducted on the nearly 14,000 acre Mineral Ridge Property in the history of Scorpio Gold’s tenure. With Titan advancing Mineral Ridge, Scorpio Gold will have the opportunity to focus on its Goldwedge Property, including advancing its toll milling operations and furthering its exploration programs on the Goldwedge and Keystone-Jumbo deposit areas. The coming months look to be very active and promising for Scorpio Gold.”
Titan Option Agreement (the “Agreement”)
Terms of the Agreement require Titan to spend US$35 million in staged expenditures over a period of five years (the “Option Term”) to earn an 80% ownership interest (the “Earn-in Option”) in Mineral Ridge Gold LLC (“MRG”), an indirect subsidiary of Scorpio Gold which holds all of the mineral rights and water rights comprising the Mineral Ridge Property. In order to maintain the Earn-In Option in good standing, Titan must incur expenditures of US$7 million on or before January 1, 2022, then a further US$7 million on each of the third, fourth and fifth anniversaries of the commencement of the effectiveness of the Earn-In Option. In addition, if Titan spends the initial US$7 million of expenditures by January 1, 2022, it will also have the right to acquire a 100% interest in MRG by making a cash payment to Scorpio Gold of US$35 million on or before December 31, 2022 (the “Purchase Option”) .
Until the earlier of the December 31, 2021 and the date that Scorpio Gold extracts a further 3200 ounces of gold from the Mineral Ridge Property, Scorpio Gold may continue its gold recoveries from the heap leach operations on the Mineral Ridge Property for its own account with 25% of the proceeds of such operation, net of operating costs, to be held in a segregated trust account which will remain an asset of MRG if Titan exercises the Earn-in Option or Purchase Option.
The effectiveness of the Agreement remains subject to receipt of the approval of the shareholders of Scorpio Gold pursuant to a special resolution to be put forward at the upcoming annual general and special meeting of shareholders of Scorpio Gold on October 2, 2020.
Private Placement and Board Appointment Right
In connection with the Agreement, Scorpio Gold will raise C$5 million by the sale of 31,250,000 units (“Units”) at C$0.16 per Unit (the “Offering”) with Augusta Investments Inc. (“Augusta”) a company beneficially held by Richard W. Warke, purchasing C$4.6 million of the Offering.
Each Unit will consist of one common share of the Company (each, a “Share”) and one Share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Share for a period of three years from issuance at an exercise price equal to the lesser of $0.30 and the closing price of the Shares following the announcement of the Agreement and the Offering, subject to a minimum exercise price of $0.24. .
Augusta will subscribe for 29,031,250 Units for proceeds of $4,645,000, of which such number of Units will be issued in an initial tranche (the “Initial Tranche”), as a result of which, Augusta will hold 19.99% of the outstanding Shares on an undiluted basis. The Company will seek shareholder approval at its upcoming annual general and special meeting of shareholders to approve Augusta as a control person of the Company, following which, subject to receipt of such shareholder approval, the remaining Units will be issued to Augusta. The Warrants to be issued to Augusta in the Initial Tranche will not be exercisable to the extent they would cause Augusta to hold 20% or more of the outstanding common shares of Scorpio Gold until such shareholder approval is obtained. Upon the closing of the second tranche issuance to Augusta, it is anticipated that Augusta will own or control 29,031,250 Shares, representing 28.8% of the outstanding Shares of the Company, on an undiluted basis.
The proceeds of the private placement will be used primarily for advancing the planned toll-milling operations and exploration on the Company’s Goldwedge mineral property and for general corporate purposes.
Upon closing the Initial Tranche, as long as Augusta continues to hold at least 10% of the outstanding Shares, Augusta will be entitled to appoint one nominee to the Board of Directors of the Company.
About the Augusta Group
The Augusta Group is a mining sector-focused management group based in Canada and the United States. Augusta has an unrivaled track record of value creation totaling over C$4.5 billion in exit transactions since 2011 and has strategic partnerships with the leading entrepreneurs in the mining sector. Augusta is led by its founder and Chairman, Richard Warke.
About Titan Mining Corporation
Titan Mining Corporation (TSX:TI) is a mining company which produces zinc concentrate at its 100%-owned Empire State Mining in New York State. Titan is part of the Augusta Group.
About Scorpio Gold
Scorpio Gold holds a 100% interest in the Mineral Ridge gold mining operation located in Esmeralda County, Nevada. A NI 43-101 technical report on the updated feasibility study for the Mineral Ridge Project was filed on SEDAR on January 9, 2018. Mineral Ridge has a fully permitted mine and mill operation that is currently on care and maintenance. Mining at Mineral Ridge was suspended in November 2017; however, the Company continues to generate limited revenues from residual but diminishing recoveries from the leach pads. Approximately 1 million ounces of gold have been produced from underground and open pit mining operations at Mineral Ridge over the property’s +150 year history.
Scorpio Gold also holds a 100% interest in the advanced exploration-stage Goldwedge property in Manhattan, Nevada with a fully permitted underground mine and 400 ton per day mill facility. On July 20, 2020 the Company announced the terms of a purchase option to acquire a 100% interest from a subsidiary of Kinross Gold of the Manhattan Property situated adjacent and proximal to the Goldwedge property.
Scorpio Gold’s Chairman, Peter J. Hawley, P.Geo., is a Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the content of this release.
This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Shares or Warrants (the “Securities”) in the United States or to, or for the account or benefit of, any U.S. person. The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, any U.S. person unless an exemption from such registration requirements is available. “United States” and “U.S. person” are as defined in Regulation S under the U.S. Securities Act.
ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION
Brian Lock,
Chief Executive Officer
For further information contact:
Brian Lock, CEO
Tel: (604) 889-2543
Email: block@scorpiogold.com
Website: www.scorpiogold.com
Pennyes
6年前
Scorpio is a well established, profitable mines, years of proven resources with expertise, top of the line!... Mexus is a younger, less experienced, upcoming new kid in the block, but the potentials are huge, Mexus will run, just matter of time...!.. Management is not savvy informers, they do not connect with their shareholders that well, many juniors are like that: AABB, ACRL, BMXI and the questionable BMIX, they all have communication issues!!...
Captain Black Bob Blanco
6年前
Spike in gold puts dollar's reserve status in question: Goldman Sachs
July 28, 2020 - 11:43 AM EDT
A record high price for gold, known as the currency of last resort, is raising questions about the U.S. dollar's future as the world's reserve currency, according to a Goldman Sachs research note published Tuesday.
The commodity, which tends to see increased demand during economic uncertainty, reached an unprecedented price of $1,943 an ounce this week, in part because of record-low interest rates that Goldman Sachs analysts said may demonstrate a stronger appetite for inflation at the Federal Reserve.
"Combined with a record level of debt accumulation by the US government, real concerns around the longevity of the US dollar as a reserve currency have started to emerge," the analysts wrote.
The idea that the dollar may one day be seen as less of a safe currency jeopardizes its role as the world's reserve currency, a position that has given the U.S. financial system a tremendous advantage in global financial markets for decades.
Gold is a safe commodity because it is in limited supply and considered to have inherent value, which means fears of inflation or other economic turbulence like the coronavirus recession could drive up demand. Goldman Sachs increased its 12-month forecast for the price of gold from $2,000 to $2,300 an ounce.
Analysts said that while inflation risks remain low today, a confluence of factors coming together could push prices up in the future. Among those factors are record-low interest rates, new steps by the Federal Reserve to expand its balance sheet and rising debt.
Meanwhile, the Senate may soon hold a confirmation vote on a controversial Trump nominee, Judy Shelton, for a seat on the Federal Reserve Board. Shelton has supported the gold standard in the past, a position that's unpopular on both sides of the aisle and in most economic circles.
GOP Sens. Mitt Romney (Utah) and Susan Collins (Maine) have announced their opposition, meaning one more Republican could sink her nomination.
Shelton, who advised President Trump's campaign in 2016, has called the Federal Reserve's power over financial markets and money "quite unhealthy."
https://thehill.com/policy/finance/509368-spike-in-gold-shows-dollars-reserve-status-in-question-goldman-sachs?amp
Pennyes
7年前
Thank you Starb!
I have been holding this ps for more than couple of years, the management failed to run a company like this with proven gold and other metals reserves, what a great time to revive and develop this gem!!, still hoping!?.
Some recent news from their website:
News
Dec 13, 2018
Scorpio Gold Receives Debt Extension
Vancouver, December 13, 2018 - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX-V: SGN) announces that the forebearance agreement on its $6 million debt originaly expiring on December 19, 2018 was extended to January 31, 2019. The ...
Read
Nov 28, 2018
Scorpio Gold Reports Financial Results for The Third Quarter of 2018
Vancouver, November 28, 2018 - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX-V: SGN) announces its financial results for the third quarter ("Q3") ended September 30, 2018. This press release should be read in
http://www.scorpiogold.com/s/news.asp
Pro-Life
12年前
Scorpio Gold Files Technical Report on the Updated Life of Mine Plan for the Mineral Ridge Gold Operation, Nevada
Vancouver, September 4, 2014 - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX-V: SGN) announces that further to its news release dated July 21, 2014, it has filed a NI 43-101 Technical Report on SEDAR (http://www.sedar.com) on the updated Life of Mine Plan completed for the Drinkwater, Mary/LC, Brodie, Bluelite, Solberry, Wedge and Oromonte deposits at the 70% owned Mineral Ridge Gold Operation, located in Nevada.
The independent technical report was authored by John D. Welsh, PE, Douglas W. Willis, CPG, Randall K. Martin, SME-RM, and Carl C. Nesbitt, SME-RM, of Welsh Hagen Associates (formerly Telesto Nevada, Inc.), an engineering firm located in Reno, Nevada.
Via e-Mial...
Talldude
12年前
Q2 results are in!
Peter Hawley, CEO, comments, "Following another strong quarter at Mineral Ridge, the Company is well on track to meet its 2014 production forecast of 40,000 to 45,000 ounces gold at a cash cost of $800 to $850 per ounce of gold sold. Operational excellence remains the Company's key focus, and with the new carbon column tower coming on line as planned at the end of Q2, continued performance through the second half of 2014 is fully expected. We are very proud of our Mineral Ridge operations team, which continues to deliver solid results despite a lower average gold price."
Highlights for the Second Quarter Ended June 30, 2014:
9,034 ounces of gold produced compared to 10,769 ounces produced during Q2 of 2013. In late June 2014, an additional carbon column was installed which is expected to increase the rate of processing of pregnant leach solution and thereby bring down leach pad inventory and consequently increase gold production.
------------
if any readers have been looking for a place to start acquiring, this would be a low-risk entry level to consider.
This installation of a second carbon column is a BIG deal! :)
Belgie24
12年前
Hi Talldude, it is indeed unfortunate that a performing producing company like Scorpio Gold gets zero respect in the market. They are efficient and productive.
However with the current price of gold, they do not make a lot of profit, when you consider the $800 per ounce cost of production and then all the add ins for cost of drilling, exploration, administration fees, salaries, dog and pony shows, options expenses, etc. I would guess this brings the total cost of production to at least $1100-1200 per ounce.
Still not bad, and if we went back to $1900 per ounce POG or higher, the stock price would quickly triple of quadruple.
Here's to hoping that happens within the next year, or the suffering of producing and non producing juniors will certainly continue. Many of the non producers will close up shop, IMO
Regards to you, Belgie
Talldude
12年前
Update PR: SOLDBERRY.SATELLITE.DEPOSIT (Mineral.Ridge.Project)
Scorpio Gold Intersects 12.15 g/t Over 19.81 Meters at the Solberry Satellite Deposit, Mineral Ridge Project, Nevada
Press Release: MINING EXPLORATION UPDATE – 9AM EDT Mon 6.16.2014
Good Looking 12.14g/t over 19.81 Meters
Update as promised and on-time release, as in the May 2014 Mine Tour YouTube vids in prior post by MUDbone1
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 16, 2014) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) reports additional results from its 2014 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 heap leach pad.
Pre-2013 RC drilling on the Solberry deposit outlined a small shallow resource based upon a floating cone pit shell (as reported in the Company's August 16, 2013 news release). Follow-up infill drilling was conducted in 2013 within the mineralized wireframe envelope modelled by Telesto, which extended east-southeast of the pit shell outline. Drilling in 2014 is targeting the extension of mineralization into untested ground outside of the current pit shell outline and southeast toward the Oromonte deposit. The 2014 drill program is designed to potentially expand and enhance the confidence level of the current resource.
In addition to the ongoing RC drilling campaign, the Company has commenced a property wide 14 hole 2,000 meter HQ diameter oriented core drilling program. The purpose of collecting this data is to better understand the preserved lithology and structural geology as well as the styles and controls to mineralization. Two oriented core holes, MR14985 and MR14986, were recently drilled proximal to RC-hole MR14929 (Table 1), providing the site exploration team with valuable detailed geological data in an area of high-grade mineralization. Assay results from these cored holes are pending. Results from the oriented core drilling program will greatly assist in guiding continued exploration on the Mineral Ridge property.
Highlights from this phase of RC drilling on the Solberry deposit include:
MR14783: 3.26 grams per tonne ("g/t") gold over 4.57 meters
A drill hole location map is available at: Drill Hole Location Map
Table 1. Solberry Deposit - Significant Drill Results
Hole Azm Dip From To Width From To Width Gold Gold
No. (deg) (deg) (ft) (ft) (ft) (m) (m) (m) (OPT) (g/t)
MR14776 0 -90 No Significant Results
MR14777 0 -90 75 90 15 22.86 27.43 4.57 0.013 0.45
MR14778 0 -90 0 10 10 0.00 3.05 3.05 0.032 1.08
90 100 10 27.43 30.48 3.05 0.015 0.51
MR14780 0 -90 25 35 15 7.62 10.67 3.05 0.032 1.10
MR14783 0 -90 35 50 15 10.67 15.24 4.57 0.095 3.26
MR14798 0 -90 No Significant Results
MR14799 0 -90 No Significant Results
MR14800 0 -90 0 5 5 0.00 1.52 1.52 0.014 0.48
45 50 5 13.72 15.24 1.52 0.031 1.08
MR14801 0 -90 50 60 10 15.24 18.29 3.05 0.025 0.86
MR14802 0 -90 170 175 5 51.82 53.34 1.52 0.026 0.89
MR14803 0 -90 No Significant Results
MR14804 0 -90 20 30 10 6.10 9.14 3.05 0.023 0.80
MR14805 0 -90 No Significant Results
MR14806 0 -90 No Significant Results
MR14807 0 -90 65 70 5 19.81 21.34 1.52 0.019 0.67
MR14808 0 -90 190 195 5 57.91 59.44 1.52 0.013 0.45
200 205 5 60.96 62.48 1.52 0.025 0.86
MR14809 0 -90 315 320 5 96.01 97.54 1.52 0.068 2.33
MR14810 0 -90 160 175 15 48.77 53.34 4.57 0.017 0.58
MR14811 0 -90 390 400 10 118.87 121.92 3.05 0.013 0.45
MR14812 0 -90 655 660 5 199.64 201.17 1.52 0.021 0.72
MR14813 0 -90 40 50 10 12.19 15.24 3.05 0.017 0.57
195 200 5 59.44 60.96 1.52 0.015 0.52
300 305 5 91.44 92.96 1.52 0.015 0.50
MR14814 0 -90 45 50 5 13.72 15.24 1.52 0.020 0.67
180 185 5 54.86 56.39 1.52 0.012 0.40
195 200 5 59.44 60.96 1.52 0.010 0.35
320 325 5 97.54 99.06 1.52 0.020 0.69
340 355 15 103.63 108.20 4.57 0.025 0.84
400 405 5 121.92 123.44 1.52 0.077 2.65
MR14815 0 -90 35 45 10 10.67 13.72 3.05 0.571 19.58
MR14816 0 -90 10 15 5 3.05 4.57 1.52 0.011 0.38
575 580 5 175.26 176.78 1.52 0.012 0.41
MR14817 0 -90 60 70 10 18.29 21.34 3.05 0.012 0.39
245 250 5 74.68 76.20 1.52 0.015 0.51
300 305 5 91.44 92.96 1.52 0.012 0.41
490 500 10 149.35 152.40 3.05 0.015 0.50
MR14818 0 -90 5 10 5 1.52 3.05 1.52 0.010 0.35
70 80 10 21.34 24.38 3.05 0.078 2.66
205 215 10 62.48 65.53 3.05 0.023 0.77
450 455 5 137.16 138.68 1.52 0.015 0.51
MR14819 0 -90 No Significant Results
MR14820 0 -90 180 185 5 54.86 56.39 1.52 0.012 0.41
MR14821 0 -90 545 550 5 166.12 167.64 1.52 0.010 0.34
MR14822 0 -90 No Significant Results
MR14823 0 -90 No Significant Results
MR14824 0 -90 No Significant Results
MR14825 0 -90 100 105 5 30.48 32.00 1.52 0.014 0.46
250 255 5 76.20 77.72 1.52 0.011 0.36
MR14826 0 -90 85 100 15 25.91 30.48 4.57 0.060 2.05
160 175 15 48.77 53.34 4.57 0.060 2.05
MR14827 0 -90 75 80 5 22.86 24.38 1.52 0.012 0.39
MR14828 0 -90 0 5 5 0.00 1.52 1.52 0.267 9.15
80 85 5 24.38 25.91 1.52 0.055 1.89
MR14829 0 -90 45 60 15 13.72 18.29 4.57 0.031 1.07
MR14830 0 -90 55 65 10 16.76 19.81 3.05 0.012 0.41
MR14924 0 -90 30 40 10 9.14 12.19 3.05 0.068 2.33
MR14925 0 -90 No Significant Results
MR14926 0 -90 115 125 10 35.05 38.10 3.05 0.035 1.20
MR14927 0 -90 15 20 5 4.57 6.10 1.52 0.030 1.03
MR14928 0 -90 No Significant Results
MR14929 0 -90 45 110 65 13.72 33.53 19.81 0.354 12.15
MR14970 0 -90 95 100 5 28.96 30.48 1.52 0.086 2.95
MR141001 0 -90 40 45 5 12.19 13.72 1.52 0.102 3.50
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: www.scorpiogold.com/i/pdf/reports/QAQC-MR.pdf.
About Scorpio Gold (boilerplate)
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.
Hot Features
プレミアム
登録してリアルタイムのアラート、カスタムポートフォリオ、市場の動きを入手してください。
NASDAQ2020
1月前
Renee
3年前
メールアドレスで登録
