Scorpio Gold Reports Additional Results from 2015 Expansion Drilling on the NW Brodie Trend, Mineral Ridge Project, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 26, 2015) - Scorpio Gold Corp. ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) reports additional results from the 2015 expansion drilling program on the NW Brodie trend at its70% owned Mineral Ridge project, located in Nevada.
Exploration drilling along the NW Brodie trend in 2015 continues to outline 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 promising and may potentially allow for building a new resource in this area.
Highlights from this latest phase of the 2015 drilling program on the NW Brodie trend include:
- MR151623: 3.81 grams per tonne ("g/t") gold over 3.05 meters
- MR151634: 1.11 g/t gold over 4.57 meters
- MR151635: 1.04 g/t gold over 7.62 meters
- MR151636: 1.23 g/t gold over 9.14 meters
- MR151637: 1.16 g/t gold over 3.05 meters
- MR151661: 4.07 g/t gold over 18.29 meters
- MR151752: 4.87 g/t gold over 4.57 meters
- MR151754: 2.54 g/t gold over 6.10 meters
- MR151756: 3.98 g/t gold over 6.10 meters
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) |
| MR151623 | 0 | -90 | 150 | 155 | 5 | 45.72 | 47.24 | 1.52 | 0.177 | 6.07 |
| 170 | 180 | 10 | 51.82 | 54.86 | 3.05 | 0.111 | 3.81 | |||
| 195 | 200 | 5 | 59.44 | 60.96 | 1.52 | 0.016 | 0.55 | |||
| MR151624 | 0 | -90 | 40 | 45 | 5 | 12.19 | 13.72 | 1.52 | 0.051 | 1.75 |
| MR151625 | 0 | -90 | No Significant Results | |||||||
| MR151631 | 0 | -90 | 120 | 125 | 5 | 36.58 | 38.10 | 1.52 | 0.117 | 4.01 |
| 175 | 185 | 10 | 53.34 | 56.39 | 3.05 | 0.015 | 0.50 | |||
| 245 | 250 | 5 | 74.68 | 76.20 | 1.52 | 0.016 | 0.55 | |||
| 280 | 290 | 10 | 85.34 | 88.39 | 3.05 | 0.023 | 0.77 | |||
| 315 | 325 | 10 | 96.01 | 99.06 | 3.05 | 0.015 | 0.51 | |||
| MR151632 | 0 | -90 | 75 | 80 | 5 | 22.86 | 24.38 | 1.52 | 0.023 | 0.79 |
| 185 | 200 | 15 | 56.39 | 60.96 | 4.57 | 0.017 | 0.58 | |||
| MR151633 | 0 | -90 | 0 | 5 | 5 | 0.00 | 1.52 | 1.52 | 0.030 | 1.03 |
| 110 | 120 | 10 | 33.53 | 36.58 | 3.05 | 0.023 | 0.79 | |||
| 135 | 140 | 5 | 41.15 | 42.67 | 1.52 | 0.019 | 0.65 | |||
| MR151634 | 0 | -90 | 210 | 225 | 15 | 64.01 | 68.58 | 4.57 | 0.032 | 1.11 |
| 245 | 255 | 10 | 74.68 | 77.72 | 3.05 | 0.040 | 1.35 | |||
| 330 | 350 | 20 | 100.58 | 106.68 | 6.10 | 0.024 | 0.83 | |||
| 360 | 370 | 10 | 109.73 | 112.78 | 3.05 | 0.020 | 0.69 | |||
| MR151635 | 0 | -90 | 210 | 230 | 20 | 64.01 | 70.10 | 6.10 | 0.014 | 0.46 |
| 285 | 310 | 25 | 86.87 | 94.49 | 7.62 | 0.030 | 1.04 | |||
| 330 | 360 | 30 | 100.58 | 109.73 | 9.14 | 0.022 | 0.75 | |||
| 380 | 385 | 5 | 115.82 | 117.35 | 1.52 | 0.021 | 0.72 | |||
| 400 | 405 | 5 | 121.92 | 123.44 | 1.52 | 0.038 | 1.30 | |||
| 430 | 435 | 5 | 131.06 | 132.59 | 1.52 | 0.023 | 0.79 | |||
| MR151636 | 0 | -90 | 200 | 205 | 5 | 60.96 | 62.48 | 1.52 | 0.048 | 1.65 |
| 245 | 250 | 5 | 74.68 | 76.20 | 1.52 | 0.178 | 6.10 | |||
| 285 | 320 | 35 | 86.87 | 97.54 | 10.67 | 0.017 | 0.59 | |||
| 345 | 375 | 30 | 105.16 | 114.30 | 9.14 | 0.036 | 1.23 | |||
| 440 | 445 | 5 | 134.11 | 135.64 | 1.52 | 0.098 | 3.36 | |||
| MR151637 | 0 | -90 | 155 | 180 | 25 | 47.24 | 54.86 | 7.62 | 0.018 | 0.63 |
| 265 | 275 | 10 | 80.77 | 83.82 | 3.05 | 0.034 | 1.16 | |||
| 310 | 315 | 5 | 94.49 | 96.01 | 1.52 | 0.025 | 0.87 | |||
| 355 | 360 | 5 | 108.20 | 109.73 | 1.52 | 0.026 | 0.89 | |||
| 370 | 375 | 5 | 112.78 | 114.30 | 1.52 | 0.035 | 1.19 | |||
| MR151639 | 0 | -90 | 225 | 230 | 5 | 68.58 | 70.10 | 1.52 | 0.059 | 2.02 |
| 365 | 370 | 5 | 111.25 | 112.78 | 1.52 | 0.016 | 0.55 | |||
| MR151640 | 0 | -90 | 140 | 145 | 5 | 42.67 | 44.20 | 1.52 | 0.019 | 0.65 |
| 230 | 250 | 20 | 70.10 | 76.20 | 6.10 | 0.023 | 0.77 | |||
| MR151661 | 0 | -90 | 85 | 90 | 5 | 25.91 | 27.43 | 1.52 | 0.059 | 2.02 |
| 155 | 160 | 5 | 47.24 | 48.77 | 1.52 | 0.051 | 1.75 | |||
| 170 | 175 | 5 | 51.82 | 53.34 | 1.52 | 0.015 | 0.51 | |||
| 215 | 220 | 5 | 65.53 | 67.06 | 1.52 | 0.169 | 5.79 | |||
| 230 | 245 | 15 | 70.10 | 74.68 | 4.57 | 0.040 | 1.38 | |||
| 270 | 275 | 5 | 82.30 | 83.82 | 1.52 | 0.027 | 0.93 | |||
| 305 | 365 | 60 | 92.96 | 111.25 | 18.29 | 0.119 | 4.07 | |||
| 460 | 465 | 5 | 140.21 | 141.73 | 1.52 | 0.016 | 0.55 | |||
| 550 | 555 | 5 | 167.64 | 169.16 | 1.52 | 0.017 | 0.58 | |||
| 590 | 600 | 10 | 179.83 | 182.88 | 3.05 | 0.034 | 1.15 | |||
| 780 | 790 | 10 | 237.74 | 240.79 | 3.05 | 0.016 | 0.55 | |||
| MR151662 | 0 | -90 | 0 | 5 | 5 | 0.00 | 1.52 | 1.52 | 0.121 | 4.15 |
| MR151663 | 0 | -90 | 175 | 180 | 5 | 53.34 | 54.86 | 1.52 | 0.045 | 1.54 |
| MR151664 | 0 | -90 | 225 | 230 | 5 | 68.58 | 70.10 | 1.52 | 0.067 | 2.30 |
| 245 | 250 | 5 | 74.68 | 76.20 | 1.52 | 0.108 | 3.70 | |||
| MR151665 | 0 | -90 | 230 | 235 | 5 | 70.10 | 71.63 | 1.52 | 0.020 | 0.69 |
| MR151667 | 0 | -90 | 170 | 175 | 5 | 51.82 | 53.34 | 1.52 | 0.018 | 0.62 |
| MR151668 | 0 | -90 | No Significant Results | |||||||
| MR151669 | 0 | -90 | 190 | 195 | 5 | 57.91 | 59.44 | 1.52 | 0.022 | 0.75 |
| 230 | 235 | 5 | 70.10 | 71.63 | 1.52 | 0.017 | 0.58 | |||
| MR151748 | 0 | -90 | 125 | 130 | 5 | 38.10 | 39.62 | 1.52 | 0.012 | 0.41 |
| MR151749 | 0 | -90 | 115 | 120 | 5 | 35.05 | 36.58 | 1.52 | 0.015 | 0.51 |
| MR151750 | 0 | -90 | 115 | 120 | 5 | 35.05 | 36.58 | 1.52 | 0.015 | 0.51 |
| MR151751 | 0 | -90 | 0 | 15 | 15 | 0.00 | 4.57 | 4.57 | 0.031 | 1.07 |
| MR151752 | 0 | -90 | 15 | 30 | 15 | 4.57 | 9.14 | 4.57 | 0.142 | 4.87 |
| incl | 15 | 20 | 5 | 4.57 | 6.10 | 1.52 | 0.331 | 11.35 | ||
| 125 | 135 | 10 | 38.10 | 41.15 | 3.05 | 0.031 | 1.05 | |||
| MR151753 | 0 | -90 | 0 | 15 | 15 | 0.00 | 4.57 | 4.57 | 0.037 | 1.27 |
| MR151754 | 0 | -90 | 5 | 25 | 20 | 1.52 | 7.62 | 6.10 | 0.074 | 2.54 |
| MR151755 | 0 | -90 | 0 | 5 | 5 | 0.00 | 1.52 | 1.52 | 0.012 | 0.41 |
| MR151756 | 0 | -90 | 30 | 50 | 20 | 9.14 | 15.24 | 6.10 | 0.116 | 3.98 |
| incl | 35 | 40 | 5 | 10.67 | 12.19 | 1.52 | 0.361 | 12.38 | ||
| 145 | 150 | 5 | 44.20 | 45.72 | 1.52 | 0.033 | 1.13 | |||
| MR151757 | 0 | -90 | 45 | 50 | 5 | 13.72 | 15.24 | 1.52 | 0.201 | 6.89 |
| MR151758 | 0 | -90 | No Significant Results | |||||||
| MR151759 | 0 | -90 | 145 | 150 | 5 | 44.20 | 45.72 | 1.52 | 0.011 | 0.38 |
| MR151760 | 0 | -90 | No Significant Results | |||||||
| MR151761 | 0 | -90 | 135 | 140 | 5 | 41.15 | 42.67 | 1.52 | 0.071 | 2.43 |
| 150 | 155 | 5 | 45.72 | 47.24 | 1.52 | 0.043 | 1.47 | |||
| MR151762 | 0 | -90 | 170 | 175 | 5 | 51.82 | 53.34 | 1.52 | 0.014 | 0.48 |
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 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 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 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.
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
Scorpio Gold Corp.
Peter J. Hawley
President & CEO
(819) 825-7618
phawley@scorpiogold.com
www.scorpiogold.com
Investor Relations:
Torrey Hills Capital
Jim Macdonald
(858) 456-7300
jm@sdthc.com