Vancouver, June 7, 2021 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSXV: SGN) is pleased to announce the commencement of a 4,800 meter surface reverse circulation drilling program targeting high-grade mineralized zones intersected in historic drilling below the mined-out Manhattan East and West pits as well as investigate the continuity of mineralization extending northward from the West Pit toward the Goldwedge underground workings on the newly acquired Kinross Manhattan Property in Manhattan, Nevada. The drilling program commenced on the 1st of June with a total of 236 m of RC drilling completed on the first hole. The drill hole on section will target the down dip extension toward SW dip direction below the current mined-out pit shell. The rig has been moved to the second drill location sited the southwestern edge of the West Pit and drilling is in progress.
Scorpio Gold controls 6,071 acres (2,457 hectares) around the Company’s 100% owned Goldwedge facility, providing the opportunity to expand surface operations and the potential for expanding underground mining and exploration. The acquisition of the Manhattan project consolidates a large land position along the Reliance Structural Trend, which has significant exploration potential for high-grade gold targets.
Figure 1: View of Boart Longyear RC drill rig setup at the first drill location.
Boart Longyear is the drill contractor undertaking the current drill program.
A total of 217 samples including 8% QAQC samples have been submitted to laboratory for analysis by fire assay with AAS finish. Initial preliminary assay results for these samples are expected to be received by the end of the following work week. 5% of the total planned 4,800 meters of RC drilling have been completed to date.
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 holds a 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
CEO & Director
For further information contact:
Brian Lock, CEO
Tel: (604) 889-2543
Diane Zerga, General Manager
Tel: (775) 401-1637
Anthony Simone, Investor Relations
Tel: (416) 881-5154
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 Mineral Ridge and Goldwedge projects. 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.