Scorpio Gold Reports Final Results from Exploration Drilling on the Missouri and Brodie Deposit Areas, Mineral Ridge Project, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 20, 2016) - Scorpio Gold Corp. ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) reports final results from exploration drilling in the Missouri and Brodie deposit areas, at its70% owned Mineral Ridge project, located in Nevada.
The Missouri is a shallowly northeast dipping deposit located west and northwest of the Brodie deposit. It outcrops at surface and has some historical underground workings. The mineralization has been outlined by drilling over a ~200 meter strike length and ~100 meters down dip with true widths ranging from 1.5 to 7.62 meters. Geologically, the Missouri mineralization lies just above the granite contact hosted within Wyman metasediments and Alaskite intrusives. Scorpio Gold commenced mining of the Missouri deposit in Q2 2016.
Highlights from the final phase of the RC drilling in the Missouri deposit area include:
- MR151786: 1.46 grams per tonne ("g/t") gold over 4.57 meters
- MR151811: 4.83 g/t gold over 3.05 meters
- MR151812: 2.24 g/t gold over 18.29 meters
- MR151813: 1.90 g/t gold over 9.14 meters
- MR151814: 4.64 g/t gold over 9.14 meters
A drill hole location map is available at: DH Plan
Table 1. Missouri Deposit and North Brodie 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) |
| MR151763,781 | 0 | -90 | No Significant Results | |||||||
| MR151764 | 0 | -90 | 150 | 155 | 5 | 45.72 | 47.24 | 1.52 | 0.032 | 1.10 |
| 175 | 185 | 10 | 53.34 | 56.39 | 3.05 | 0.017 | 0.57 | |||
| MR151765 | 0 | -90 | 165 | 170 | 5 | 50.29 | 51.82 | 1.52 | 0.036 | 1.23 |
| MR151766 | 0 | -90 | 110 | 115 | 5 | 33.53 | 35.05 | 1.52 | 0.010 | 0.34 |
| MR151767 | 0 | -90 | 95 | 100 | 5 | 28.96 | 30.48 | 1.52 | 0.034 | 1.17 |
| 180 | 185 | 5 | 54.86 | 56.39 | 1.52 | 0.019 | 0.65 | |||
| MR151768 | 0 | -90 | 200 | 225 | 25 | 60.96 | 68.58 | 7.62 | 0.038 | 1.30 |
| MR151769 | 0 | -90 | 185 | 190 | 5 | 56.39 | 57.91 | 1.52 | 0.187 | 6.41 |
| MR151770 | 0 | -90 | 115 | 125 | 10 | 35.05 | 38.10 | 3.05 | 0.041 | 1.41 |
| 225 | 230 | 5 | 68.58 | 70.104 | 1.52 | 0.035 | 1.20 | |||
| MR151782 | 0 | -90 | 130 | 135 | 5 | 39.62 | 41.15 | 1.52 | 0.021 | 0.72 |
| MR151783-785 | 0 | -90 | No Significant Results | |||||||
| MR151786 | 0 | -90 | 0 | 15 | 15 | 0.00 | 4.57 | 4.57 | 0.043 | 1.46 |
| MR151787 | 0 | -90 | No Significant Results | |||||||
| MR151788 | 0 | -90 | 0 | 5 | 5 | 0.00 | 1.52 | 1.52 | 0.017 | 0.58 |
| MR151789 | 0 | -90 | 0 | 10 | 10 | 0.00 | 3.05 | 3.05 | 0.016 | 0.53 |
| MR151790,792 | 0 | -90 | No Significant Results | |||||||
| MR151791 | 0 | -90 | 0 | 5 | 5 | 0.00 | 1.52 | 1.52 | 0.014 | 0.48 |
| MR151793 | 0 | -90 | 50 | 55 | 5 | 15.24 | 16.76 | 1.52 | 0.016 | 0.55 |
| MR151794-796 | 0 | -90 | No Significant Results | |||||||
| MR151811 | 0 | -90 | 20 | 30 | 10 | 6.10 | 9.14 | 3.05 | 0.141 | 4.83 |
| MR151812 | 0 | -90 | 25 | 85 | 60 | 7.62 | 25.91 | 18.29 | 0.065 | 2.24 |
| MR151813 | 0 | -90 | 35 | 65 | 30 | 10.67 | 19.81 | 9.14 | 0.055 | 1.90 |
| 125 | 130 | 5 | 38.10 | 39.62 | 1.52 | 0.017 | 0.58 | |||
| MR151814 | 0 | -90 | 40 | 70 | 30 | 12.19 | 21.34 | 9.14 | 0.135 | 4.64 |
| incl | 55 | 60 | 5 | 16.76 | 18.29 | 1.52 | 0.590 | 20.23 | ||
| MR151815 | 0 | -90 | 40 | 45 | 5 | 12.19 | 13.72 | 1.52 | 0.038 | 1.30 |
| MR151816 | 0 | -90 | 55 | 60 | 5 | 16.76 | 18.29 | 1.52 | 0.113 | 3.87 |
| MR151817 | 0 | -90 | 55 | 60 | 5 | 16.76 | 18.29 | 1.52 | 0.019 | 0.65 |
| 130 | 135 | 5 | 39.62 | 41.15 | 1.52 | 0.042 | 1.44 | |||
| MR151818 | 0 | -90 | 0 | 5 | 5 | 0.00 | 1.52 | 1.52 | 0.010 | 0.34 |
| MR151819 | 0 | -90 | No Significant Results | |||||||
| MR151820 | 0 | -90 | 115 | 120 | 5 | 35.05 | 36.58 | 1.52 | 0.022 | 0.75 |
| MR151823 | 0 | -90 | 100 | 105 | 5 | 30.48 | 32.00 | 1.52 | 0.011 | 0.38 |
| MR151824 | 0 | -90 | 115 | 120 | 5 | 35.05 | 36.58 | 1.52 | 0.015 | 0.51 |
| MR151825 | 0 | -90 | 110 | 115 | 5 | 33.53 | 35.05 | 1.52 | 0.027 | 0.93 |
| 120 | 125 | 5 | 36.58 | 38.10 | 1.52 | 0.193 | 6.62 | |||
| 140 | 145 | 5 | 42.67 | 44.20 | 1.52 | 0.037 | 1.27 | |||
| MR151826 | 0 | -90 | 120 | 130 | 10 | 36.58 | 39.62 | 3.05 | 0.025 | 0.86 |
| 145 | 150 | 5 | 44.20 | 45.72 | 1.52 | 0.016 | 0.55 | |||
| 175 | 185 | 10 | 53.34 | 56.39 | 3.05 | 0.020 | 0.67 | |||
| 230 | 240 | 10 | 70.10 | 73.15 | 3.05 | 0.036 | 1.23 | |||
| MR151830 | 0 | -90 | 105 | 110 | 5 | 32.00 | 33.53 | 1.52 | 0.026 | 0.89 |
| MR151834 | 0 | -90 | 185 | 190 | 5 | 56.39 | 57.91 | 1.52 | 0.020 | 0.69 |
| 220 | 225 | 5 | 67.06 | 68.58 | 1.52 | 0.029 | 0.99 | |||
| 235 | 240 | 5 | 71.63 | 73.15 | 1.52 | 0.065 | 2.23 | |||
| MR151840 | 70 | -70 | 130 | 140 | 10 | 39.62 | 42.67 | 3.05 | 0.023 | 0.77 |
| MR151841,855 | 67 | -70 | No Significant Results | |||||||
| MR151847 | 247 | -70 | 180 | 185 | 5 | 54.86 | 56.39 | 1.52 | 0.019 | 0.65 |
| MR151853 | 71 | -60 | 20 | 25 | 5 | 6.10 | 7.62 | 1.52 | 0.030 | 1.03 |
| MR151866 | 325 | -50 | 145 | 155 | 10 | 44.20 | 47.24 | 3.05 | 0.024 | 0.82 |
| 165 | 170 | 5 | 50.29 | 51.82 | 1.52 | 0.015 | 0.51 | |||
| 205 | 210 | 5 | 62.48 | 64.01 | 1.52 | 0.016 | 0.55 | |||
| 240 | 245 | 5 | 73.15 | 74.68 | 1.52 | 0.030 | 1.03 | |||
| MR151868 | 20 | -65 | 135 | 140 | 5 | 41.15 | 42.67 | 1.52 | 0.023 | 0.79 |
All holes presented in Table 1 were completed by reverse circulation (RC) drilling. True width is estimated at 80-100% of downhole width. Scorpio Gold utilizes the analytical services of ALS Minerals (Reno, Nevada), an ISO/IEC 17025:2005 (CAN-P-4E, CAN-P-1579) accredited testing laboratory, and Bureau Veritas (Reno, Nevada), an ISO 9001 certified testing laboratory. External check assays to verify lab accuracy are routinely completed. 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.
Contact
Peter J. Hawley
President & CEO
(819) 825-7618
phawley@scorpiogold.com
www.scorpiogold.com