Scorpio Gold Reports Results from 2015 Exploration Drilling at the Wedge, Physik and Reed Dolomite Target Areas, Mineral Ridge Project, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 28, 2015) - Scorpio Gold Corp. ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) reports results from the 2015 exploration drilling at the Wedge, Physik and Reed Dolomite target areas at its 70% owned Mineral Ridge project, located in Nevada.
Exploration drilling in 2015 tested two previously undrilled areas located 100-200 meters east of the Wedge deposit and 200-600 meters southeast of Wedge within the Reed Dolomite target area. Although drilling returned a number of significant intersections (Tables 1 and 2), exploration drilling is now focused on other target areas that are deemed more prospective and no further drilling is currently planned in these areas. Further to the southeast, which parallels the common structural trend of mineralization at Mineral Ridge, follow-up drilling was undertaken on the Physik target, where drilling in 2014 intersected 31.79 g/t gold over 4.57 meters in drill hole MR141107 (see November 3, 2014 news release). Drilling in 2015 tested within the vicinity of MR141107 but did intersect similar high-grade mineralization. As such, no further drilling is currently planned in the Physik target area.
Open pit mining at the Wedge deposit occurred during the first half of 2015 and ore production totaled 70,681 tonnes grading 1.57 grams per tonne.
Map Links:
Wedge & Reed Dolomite: DH Plan
Physik Target: DH Plan
Table 1. Wedge 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) |
| MR151386 | 0 | -90 | No Significant Results | |||||||
| MR151388 | 0 | -90 | 90 | 95 | 5 | 27.43 | 28.96 | 1.52 | 0.011 | 0.38 |
| MR151598-600 | 0 | -90 | No Significant Results | |||||||
| MR151626 | 0 | -90 | 25 | 30 | 5 | 7.62 | 9.14 | 1.52 | 0.020 | 0.69 |
| MR151638 | 0 | -90 | No Significant Results | |||||||
| MR151646-649 | 0 | -90 | No Significant Results | |||||||
| MR151650 | 0 | -90 | 75 | 85 | 10 | 22.86 | 25.91 | 3.05 | 0.104 | 3.57 |
| 135 | 140 | 5 | 41.15 | 42.67 | 1.52 | 0.017 | 0.58 | |||
| 150 | 155 | 5 | 45.72 | 47.24 | 1.52 | 0.059 | 2.02 | |||
| MR151652 | 0 | -90 | No Significant Results | |||||||
| MR151653 | 0 | -90 | 40 | 45 | 5 | 12.19 | 13.72 | 1.52 | 0.011 | 0.38 |
Table 2. Reed Dolomite Target - 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) |
| MR151666 | 0 | -90 | 135 | 145 | 10 | 41.15 | 44.20 | 3.05 | 0.016 | 0.55 |
| MR151681 | 0 | -90 | No Significant Results | |||||||
| MR151682 | 0 | -90 | 150 | 155 | 5 | 45.72 | 47.24 | 1.52 | 0.019 | 0.65 |
| MR151683 | 0 | -90 | 65 | 70 | 5 | 19.81 | 21.34 | 1.52 | 0.048 | 1.65 |
| MR151684 | 0 | -90 | 235 | 240 | 5 | 71.63 | 73.15 | 1.52 | 0.014 | 0.48 |
| MR151685 | 0 | -90 | No Significant Results | |||||||
| MR151687-690 | 0 | -90 | No Significant Results | |||||||
Table 3. Physik Target - 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) |
| MR151465 | 0 | -90 | No Significant Results | |||||||
| MR151481-482 | 145 | -45 | No Significant Results | |||||||
| MR151483 | 250 | -60 | 25 | 35 | 10 | 7.62 | 10.67 | 3.05 | 0.044 | 1.51 |
| MR151697 | 300 | -50 | No Significant Results | |||||||
| MR151698 | 250 | -50 | 0 | 5 | 5 | 0.00 | 1.52 | 1.52 | 0.015 | 0.51 |
All holes presented in Tables 1-3 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: 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 Elevon, LLC (30%). 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 Goldwedge mill facility has been placed on a care and maintenance basis for the near-term and can be restarted immediately when needed.
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.
Contact
Scorpio Gold Corp.
Peter J. Hawley
President & CEO
(819) 825-7618
phawley@scorpiogold.com
www.scorpiogold.com
Investor Relations:
Jim Macdonald
Torrey Hills Capital
(858) 456-7300
jm@sdthc.com