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Scorpio Gold Reports Results from 2015 Expansion Drilling at the Bluelite Satellite Deposit, Mineral Ridge Project, Nevada

20.07.2015  |  Marketwire

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 20, 2015) - Scorpio Gold Corp. ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) reports additional results from the 2015 expansion drilling program at the Bluelite satellite deposit target area at its70% owned Mineral Ridge project, located in Nevada.

The 2015 expansion program at Bluelite includes infill, development and exploration drilling to expand and upgrade the current mineral reserve and resource base for the deposit and potentially extend life of mine.

All of the holes presented in Table 1 are step-out exploration holes drilled southeast of currently defined resources for the Bluelite deposit. Drilling continues to delineate mineralization that has now been outlined over a 300 meter wide band of semi-continuous mineralization extending southeast of the Bluelite deposit along the NW Brodie trend toward the Brodie deposit. Management believes that results received to date from the 2015 drilling program will potentially allow for defining a new resource in this area.

Pre-production development work at the Bluelite deposit is in progress with open pit production scheduled in Q3 2015.

Highlights from this latest phase of exploration drilling at the Bluelite deposit include:

  • MR151450: 2.03 grams per tonne ("g/t") gold over 6.10 meters
  • MR151511: 1.47 g/t gold over 7.62 meters
  • MR151512: 1.20 g/t gold over 13.72 meters
  • MR151517: 2.42 g/t gold over 15.24 meters
  • MR151518: 3.91 g/t gold over 6.10 meters
  • MR151520: 4.96 g/t gold over 7.62 meters
  • MR151535: 4.18 g/t gold over 9.14 meters
  • MR151538: 7.82 g/t gold over 3.05 meters

A drill hole location map is available at: DH Plan

Table 1. Bluelite Deposit Target Area - 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)
MR151443 0 -90 85 90 5 25.91 27.43 1.52 0.022 0.75
175 180 5 53.34 54.86 1.52 0.071 2.43
345 350 5 105.16 106.68 1.52 0.035 1.20
430 440 10 131.06 134.11 3.05 0.024 0.81
MR151444 270 -75 60 70 10 18.29 21.34 3.05 0.017 0.57
285 315 30 86.87 96.01 9.14 0.016 0.53
340 345 5 103.63 105.16 1.52 0.015 0.51
MR151446 0 -90 155 160 5 47.24 48.77 1.52 0.017 0.58
200 205 5 60.96 62.48 1.52 0.019 0.65
240 245 5 73.15 74.68 1.52 0.017 0.58
260 265 5 79.25 80.77 1.52 0.059 2.02
370 375 5 112.78 114.30 1.52 0.021 0.72
455 460 5 138.68 140.21 1.52 0.019 0.65
MR151447 270 -70 160 170 10 48.77 51.82 3.05 0.018 0.60
195 200 5 59.44 60.96 1.52 0.047 1.61
225 230 5 68.58 70.10 1.52 0.068 2.33
250 255 5 76.20 77.72 1.52 0.029 0.99
300 330 30 91.44 100.58 9.14 0.015 0.52
345 350 5 105.16 106.68 1.52 0.016 0.55
MR151448 0 -90 155 160 5 47.24 48.77 1.52 0.053 1.82
175 185 10 53.34 56.39 3.05 0.018 0.60
330 340 10 100.58 103.63 3.05 0.044 1.49
375 380 5 114.30 115.82 1.52 0.019 0.65
MR151449 90 -75 135 140 5 41.15 42.67 1.52 0.023 0.79
165 170 5 50.29 51.82 1.52 0.042 1.44
235 245 10 71.63 74.68 3.05 0.027 0.91
255 260 5 77.72 79.25 1.52 0.027 0.93
290 295 5 88.39 89.92 1.52 0.020 0.69
305 310 5 92.96 94.49 1.52 0.017 0.58
435 440 5 132.59 134.11 1.52 0.072 2.47
MR151450 270 -70 125 130 5 38.10 39.62 1.52 0.050 1.71
150 165 15 45.72 50.29 4.57 0.019 0.66
205 225 20 62.48 68.58 6.10 0.059 2.03
265 270 5 80.77 82.30 1.52 0.022 0.75
385 390 5 117.35 118.87 1.52 0.022 0.75
MR151511 0 -90 70 95 25 21.34 28.96 7.62 0.043 1.47
185 195 10 56.39 59.44 3.05 0.024 0.82
MR151512 0 -90 80 85 5 24.38 25.91 1.52 0.037 1.27
125 130 5 38.10 39.62 1.52 0.016 0.55
135 140 5 41.15 42.67 1.52 0.021 0.72
155 190 35 47.24 57.91 10.67 0.023 0.79
240 285 45 73.15 86.87 13.72 0.035 1.20
MR151513 0 -90 115 120 5 35.05 36.58 1.52 0.021 0.72
130 135 5 39.62 41.15 1.52 0.053 1.82
235 240 5 71.63 73.15 1.52 0.024 0.82
270 280 10 82.30 85.34 3.05 0.020 0.67
325 335 10 99.06 102.11 3.05 0.017 0.58
345 350 5 105.16 106.68 1.52 0.022 0.75
MR151514 0 -90 55 60 5 16.76 18.29 1.52 0.015 0.51
95 105 10 28.96 32.00 3.05 0.029 0.99
130 135 5 39.62 41.15 1.52 0.015 0.51
160 165 5 48.77 50.29 1.52 0.024 0.82
245 260 15 74.68 79.25 4.57 0.033 1.14
365 400 35 111.25 121.92 10.67 0.027 0.92
MR151515 0 -90 295 300 5 89.92 91.44 1.52 0.015 0.51
MR151516 0 -90 285 290 5 86.87 88.39 1.52 0.015 0.51
340 345 5 103.63 105.16 1.52 0.018 0.62
MR151517 0 -90 270 275 5 82.30 83.82 1.52 0.484 16.59
360 370 10 109.73 112.78 3.05 0.018 0.60
395 445 50 120.40 135.64 15.24 0.071 2.42
incl 415 420 5 126.49 128.02 1.52 0.387 13.27
MR151518 0 -90 165 170 5 50.29 51.82 1.52 0.032 1.10
190 195 5 57.91 59.44 1.52 0.061 2.09
315 335 20 96.01 102.11 6.10 0.114 3.91
MR151519 0 -90 215 220 5 65.53 67.06 1.52 0.027 0.93
380 385 5 115.82 117.35 1.52 0.024 0.82
MR151520 0 -90 135 160 25 41.15 48.77 7.62 0.145 4.96
incl 135 140 5 41.15 42.67 1.52 0.679 23.28
195 210 15 59.44 64.01 4.57 0.019 0.65
230 235 5 70.10 71.63 1.52 0.015 0.51
295 300 5 89.92 91.44 1.52 0.050 1.71
415 420 5 126.49 128.02 1.52 0.058 1.99
MR151531 0 -90 100 120 20 30.48 36.58 6.10 0.020 0.69
135 155 20 41.15 47.24 6.10 0.018 0.61
210 215 5 64.01 65.53 1.52 0.024 0.82
275 280 5 83.82 85.34 1.52 0.041 1.41
350 355 5 106.68 108.20 1.52 0.015 0.51
395 400 5 120.40 121.92 1.52 0.028 0.96
MR151532 0 -90 120 130 10 36.58 39.62 3.05 0.016 0.53
235 245 10 71.63 74.68 3.05 0.052 1.78
335 340 5 102.11 103.63 1.52 0.046 1.58
MR151533 0 -90 180 195 15 54.86 59.44 4.57 0.018 0.61
MR151534 0 -90 135 140 5 41.15 42.67 1.52 0.036 1.23
200 205 5 60.96 62.48 1.52 0.079 2.71
265 270 5 80.77 82.30 1.52 0.016 0.55
390 395 5 118.87 120.40 1.52 0.016 0.55
MR151535 0 -90 60 65 5 18.29 19.81 1.52 0.023 0.79
95 125 30 28.96 38.10 9.14 0.122 4.18
150 155 5 45.72 47.24 1.52 0.017 0.58
190 215 25 57.91 65.53 7.62 0.017 0.58
MR151536 0 -90 50 55 5 15.24 16.76 1.52 0.027 0.93
255 260 5 77.72 79.25 1.52 0.036 1.23
375 385 10 114.30 117.35 3.05 0.029 0.98
440 450 10 134.11 137.16 3.05 0.019 0.63
MR151537 0 -70 160 165 5 48.77 50.29 1.52 0.030 1.03
265 270 5 80.77 82.30 1.52 0.015 0.51
MR151538 0 -90 70 75 5 21.34 22.86 1.52 0.032 1.10
160 165 5 48.77 50.29 1.52 0.019 0.65
205 215 10 62.48 65.53 3.05 0.228 7.82
230 240 10 70.10 73.15 3.05 0.093 3.19
270 280 10 82.30 85.34 3.05 0.023 0.77
305 315 10 92.96 96.01 3.05 0.045 1.53
MR151539 0 -70 65 75 10 19.81 22.86 3.05 0.031 1.06
95 100 5 28.96 30.48 1.52 0.045 1.54
145 150 5 44.20 45.72 1.52 0.032 1.10
260 265 5 79.25 80.77 1.52 0.015 0.51
MR151540 0 -70 380 385 5 115.82 117.35 1.52 0.034 1.17

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 available at: MR QAQC.

About Scorpio Gold

Scorpio Gold holds a 70% interest in the producing Mineral Ridge gold mining operation located in Esmeralda County, Nevada with joint venture partner Waterton Global Value L.P. (30%), and Scorpio Gold is currently entitled to receive 80% of cash flow generated. Mineral Ridge is 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 in Manhattan, Nevada, with a fully permitted underground mine and 400 ton per day mill facility. The Company has completed its 2015 underground drilling program at Goldwedge (results are pending) and is processing high-grade Mineral Ridge ore at the Goldwedge plant on an as needed basis.

Scorpio Gold's President & 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, President & 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 the potential addition of new mineral resources southeast of the Bluelite deposit along the NW Brodie trend. 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 and development 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.



Contact

Scorpio Gold Corp.
Peter J. Hawley
President & CEO
(819) 825-7618
phawley@scorpiogold.com
www.scorpiogold.com


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Scorpio Gold Corp.

Scorpio Gold Corp.
Bergbau
Kanada
A3E2GX
CA80918M3021
www.scorpiogold.com
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