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Scorpio Gold Reports Results from 2015 Expansion Drilling on the NW Brodie Trend, Mineral Ridge Project, Nevada

27.07.2015  |  Marketwire

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 27, 2015) - Scorpio Gold Corp. ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) reports results from the 2015 expansion drilling program on the NW Brodie trend at its70% owned Mineral Ridge project, located in Nevada.

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

Exploration drilling in 2015 continues along the NW Brodie trend, a semi-continuous mineralized corridor up to 300 meters wide that extends over a 500 meter strike length between the Brodie and Bluelite deposits. This area lies well outside of currently defined resources and modelled pit outlines. The Company's management believes that results to date are very promising and may potentially allow for building a new resource in this area.

Highlights from this phase of the 2015 drilling program on the NW Brodie trend include:

  • MR151451: 17.07 grams per tonne ("g/t") gold over 1.50 meters
  • MR151452: 2.44 g/t gold over 6.10 meters
  • MR151484: 2.91 g/t gold over 6.10 meters
  • MR151522: 5.89 g/t gold over 6.10 meters
  • MR151523: 1.09 g/t gold over 12.19 meters
  • MR151562: 1.35 g/t gold over 22.86 meters
  • MR151563: 2.63 g/t gold over 4.57 meters
  • MR151564: 3.87 g/t gold over 4.57 meters
  • MR151566: 2.93 g/t gold over 7.62 meters
  • MR151569: 3.28 g/t gold over 6.10 meters

Results presented in Table 1 include two core holes from the 2014 drilling program (MR14981 and MR14991). A drill hole location map is available at: DH Plan

Table 1. NW Brodie Trend - 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)
MR14981 90 -60 229.9 234.6 4.7 70.07 71.51 1.43 0.018 0.62
244.7 261.6 16.9 74.58 79.74 5.15 0.020 0.68
421.8 435.5 13.7 128.56 132.74 4.18 0.021 0.73
460.6 494.0 33.4 140.39 150.57 10.18 0.023 0.80
MR14991 325 -70 22.4 36.4 14.0 6.83 11.09 4.27 0.044 1.50
88 88.7 0.7 26.82 27.04 0.21 0.015 0.52
120.3 124.3 4.0 36.67 37.89 1.22 0.044 1.50
MR151451 0 -90 115 125 10 35.05 38.10 3.05 0.016 0.55
145 150 5 44.20 45.72 1.52 0.017 0.58
195 200 5 59.44 60.96 1.52 0.498 17.07
265 270 5 80.77 82.30 1.52 0.028 0.96
330 340 10 100.58 103.63 3.05 0.018 0.62
350 375 25 106.68 114.30 7.62 0.025 0.85
MR151452 0 -90 130 135 5 39.62 41.15 1.52 0.036 1.23
155 170 15 47.24 51.82 4.57 0.012 0.42
420 440 20 128.02 134.11 6.10 0.071 2.44
MR151453 0 -90 115 120 5 35.05 36.58 1.52 0.052 1.78
135 140 5 41.15 42.67 1.52 0.016 0.55
310 315 5 94.49 96.01 1.52 0.054 1.85
MR151454 0 -90 145 160 15 44.20 48.77 4.57 0.023 0.78
245 250 5 74.68 76.20 1.52 0.023 0.79
320 330 10 97.54 100.58 3.05 0.016 0.53
445 450 5 135.64 137.16 1.52 0.015 0.51
MR151455 0 -90 275 280 5 83.82 85.34 1.52 0.015 0.51
300 305 5 91.44 92.96 1.52 0.016 0.55
325 335 10 99.06 102.11 3.05 0.024 0.82
360 380 20 109.73 115.82 6.10 0.015 0.52
MR151456 0 -90 240 285 45 73.15 86.87 13.72 0.025 0.86
355 370 15 108.20 112.78 4.57 0.021 0.72
405 415 10 123.44 126.49 3.05 0.019 0.65
MR151457 0 -90 365 370 5 111.25 112.78 1.52 0.016 0.55
435 450 15 132.59 137.16 4.57 0.042 1.43
MR151458 0 -90 145 155 10 44.20 47.24 3.05 0.023 0.77
MR151459 270 -55 No Significant Results
MR151460 0 -90 80 85 5 24.38 25.91 1.52 0.027 0.93
310 315 5 94.49 96.01 1.52 0.016 0.55
445 450 5 135.64 137.16 1.52 0.029 0.99
MR151484 0 -90 80 85 5 24.38 25.91 1.52 0.025 0.86
165 185 20 50.29 56.39 6.10 0.085 2.91
incl 170 175 5 51.82 53.34 1.52 0.272 9.33
245 260 15 74.68 79.25 4.57 0.076 2.62
315 320 5 96.01 97.54 1.52 0.018 0.62
345 350 5 105.16 106.68 1.52 0.017 0.58
MR151485 0 -90 160 165 5 48.77 50.29 1.52 0.017 0.58
175 180 5 53.34 54.86 1.52 0.018 0.62
195 200 5 59.44 60.96 1.52 0.015 0.51
495 500 5 150.88 152.40 1.52 0.024 0.82
MR151499 0 -90 15 30 15 4.57 9.14 4.57 0.048 1.66
50 55 5 15.24 16.76 1.52 0.015 0.51
MR151521 0 -90 265 275 10 80.77 83.82 3.05 0.022 0.75
360 370 10 109.73 112.78 3.05 0.021 0.70
MR151522 0 -90 165 185 20 50.29 56.39 6.10 0.021 0.71
205 210 5 62.48 64.01 1.52 0.034 1.17
250 255 5 76.20 77.72 1.52 0.021 0.72
275 295 20 83.82 89.92 6.10 0.172 5.89
incl 275 285 10 83.82 86.87 3.05 0.298 10.20
335 340 5 102.11 103.63 1.52 0.018 0.62
MR151523 0 -90 180 185 5 54.86 56.39 1.52 0.038 1.30
265 280 15 80.77 85.34 4.57 0.023 0.79
330 335 5 100.58 102.11 1.52 0.017 0.58
365 385 20 111.25 117.35 6.10 0.054 1.85
420 460 40 128.02 140.21 12.19 0.032 1.09
MR151524 0 -90 125 130 5 38.10 39.62 1.52 0.031 1.06
205 210 5 62.48 64.01 1.52 0.053 1.82
270 275 5 82.30 83.82 1.52 0.036 1.23
375 385 10 114.30 117.35 3.05 0.039 1.34
MR151525 0 -90 150 155 5 45.72 47.24 1.52 0.039 1.34
185 195 10 56.39 59.44 3.05 0.023 0.79
420 425 5 128.02 129.54 1.52 0.016 0.55
MR151551 0 -90 145 150 5 44.20 45.72 1.52 0.018 0.62
MR151552 0 -90 255 275 20 77.72 83.82 6.10 0.017 0.58
310 315 5 94.49 96.01 1.52 0.029 0.99
370 400 30 112.78 121.92 9.14 0.025 0.85
410 420 10 124.97 128.02 3.05 0.036 1.22
445 450 5 135.64 137.16 1.52 0.040 1.37
MR151562 0 -90 125 130 5 38.10 39.62 1.52 0.023 0.79
145 150 5 44.20 45.72 1.52 0.020 0.69
175 190 15 53.34 57.91 4.57 0.018 0.61
285 290 5 86.87 88.39 1.52 0.028 0.96
310 385 75 94.49 117.35 22.86 0.039 1.35
405 410 5 123.44 124.97 1.52 0.029 0.99
430 435 5 131.06 132.59 1.52 0.021 0.72
MR151563 0 -90 140 145 5 42.67 44.20 1.52 0.027 0.93
190 195 5 57.91 59.44 1.52 0.026 0.89
210 220 10 64.01 67.06 3.05 0.065 2.21
245 260 15 74.68 79.25 4.57 0.077 2.63
275 285 10 83.82 86.87 3.05 0.015 0.51
310 340 30 94.49 103.63 9.14 0.044 1.50
MR151564 0 -90 125 130 5 38.10 39.62 1.52 0.021 0.72
160 165 5 48.77 50.29 1.52 0.027 0.93
185 190 5 56.39 57.91 1.52 0.236 8.09
230 235 5 70.10 71.63 1.52 0.016 0.55
280 305 25 85.34 92.96 7.62 0.022 0.74
330 345 15 100.58 105.16 4.57 0.113 3.87
385 395 10 117.35 120.40 3.05 0.050 1.70
405 410 5 123.44 124.97 1.52 0.023 0.79
425 435 10 129.54 132.59 3.05 0.018 0.62
MR151565 0 -90 280 305 25 85.34 92.96 7.62 0.015 0.51
340 345 5 103.63 105.16 1.52 0.017 0.58
355 365 10 111.25 114.30 3.05 0.021 0.72
425 430 5 129.54 131.06 1.52 0.053 1.82
MR151566 0 -90 135 140 5 41.15 42.67 1.52 0.027 0.93
220 225 5 67.06 68.58 1.52 0.020 0.69
240 265 25 73.15 80.77 7.62 0.085 2.93
335 340 5 102.11 103.63 1.52 0.015 0.51
350 370 20 106.68 112.78 6.10 0.045 1.55
MR151567 0 -90 45 50 5 13.72 15.24 1.52 0.017 0.58
210 220 10 64.01 67.06 3.05 0.016 0.53
355 365 10 108.20 111.25 3.05 0.017 0.57
MR151568 0 -90 60 65 5 18.29 19.81 1.52 0.017 0.58
195 205 10 59.44 62.48 3.05 0.021 0.72
MR151569 0 -90 65 85 20 19.81 25.91 6.10 0.096 3.28

All holes presented in Table 1 were completed by reverse circulation (RC) drilling with the exception of core holes, MR14981 and MR14991. 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 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

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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