Scorpio Gold Reports Final Results from 2016 Exploration Drilling on the NW Brodie Trend, Mineral Ridge Project, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 27, 2016) - Scorpio Gold Corp. ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) reports final results from 2016 exploration drilling on the NW Brodie trend at its 70% owned Mineral Ridge project, located in Nevada.
The NW Brodie trend extends over a 500 meter strike length between the Brodie and Bluelite deposits. Exploration drilling in 2014-2015 on the NW Brodie trend was based on a geological model of shallow dipping, multiple stacked veins, which is consistent with mineralization in the Bluelite and Brodie deposits. Inconsistencies in the drilling results prompted a detailed examination of the data and an oriented core drilling program. An updated geological model was completed in 2016. The mineralization within the NW Brodie trend is now interpreted as a corridor of multiple tensional quartz veins with an average strike and dip of 255°/-60°. Due to the more steeply dipping nature of the mineralization, prior drilling with vertically oriented RC holes intersected the mineralization at acute angles, resulting in thicker intersections than true widths.
Based on depths to mineralization and current gold prices, the NW Brodie area is not considered economic at this time and no further work is currently planned in the area.
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) | ||||||||||
| MR161936 | 0 | -45 | 120 | 125 | 5 | 36.58 | 38.10 | 1.52 | 0.059 | 2.02 | ||||||||||
| MR161956-957 | 180 | -45 | No Significant Results | |||||||||||||||||
| MR161969 | 0 | -75 | 145 | 150 | 5 | 44.20 | 45.72 | 1.52 | 0.010 | 0.34 | ||||||||||
| MR161977 | 0 | -75 | 140 | 145 | 5 | 42.67 | 44.20 | 1.52 | 0.049 | 1.68 | ||||||||||
| MR162037 | 0 | -75 | 10 | 15 | 5 | 3.05 | 4.57 | 1.52 | 0.026 | 0.89 | ||||||||||
| 195 | 200 | 5 | 59.44 | 60.96 | 1.52 | 0.018 | 0.62 | |||||||||||||
| MR162043 | 0 | -45 | No Significant Results | |||||||||||||||||
| MR162044 | 180 | -45 | 125 | 130 | 5 | 38.10 | 39.62 | 1.52 | 0.015 | 0.51 | ||||||||||
| MR162045 | 0 | -45 | 105 | 110 | 5 | 32.00 | 33.53 | 1.52 | 0.030 | 1.03 | ||||||||||
| 145 | 150 | 5 | 44.20 | 45.72 | 1.52 | 0.019 | 0.65 | |||||||||||||
| MR162047 | 0 | -50 | 150 | 155 | 5 | 45.72 | 47.24 | 1.52 | 0.072 | 2.47 | ||||||||||
| 185 | 190 | 5 | 56.39 | 57.91 | 1.52 | 0.037 | 1.27 | |||||||||||||
| MR162048 | 0 | -60 | 190 | 195 | 5 | 57.91 | 59.44 | 1.52 | 0.011 | 0.38 | ||||||||||
| MR162049 | 0 | -50 | 145 | 150 | 5 | 44.20 | 45.72 | 1.52 | 0.012 | 0.41 | ||||||||||
| MR162050 | 0 | -50 | 35 | 40 | 5 | 10.67 | 12.19 | 1.52 | 0.065 | 2.23 | ||||||||||
| 125 | 130 | 5 | 38.10 | 39.62 | 1.52 | 0.034 | 1.17 | |||||||||||||
| 140 | 145 | 5 | 42.67 | 44.20 | 1.52 | 0.026 | 0.89 | |||||||||||||
| MR162051 | 0 | -65 | 10 | 15 | 5 | 3.05 | 4.57 | 1.52 | 0.043 | 1.47 | ||||||||||
| 135 | 140 | 5 | 41.15 | 42.67 | 1.52 | 0.020 | 0.69 | |||||||||||||
| 165 | 170 | 5 | 50.29 | 51.82 | 1.52 | 0.015 | 0.51 | |||||||||||||
| 180 | 185 | 5 | 54.86 | 56.39 | 1.52 | 0.018 | 0.62 | |||||||||||||
| 195 | 200 | 5 | 59.44 | 60.96 | 1.52 | 0.030 | 1.03 | |||||||||||||
| MR162052 | 0 | -60 | 85 | 90 | 5 | 25.91 | 27.43 | 1.52 | 0.029 | 0.99 | ||||||||||
| 110 | 120 | 10 | 33.53 | 36.58 | 3.05 | 0.103 | 3.53 | |||||||||||||
| 140 | 155 | 15 | 42.67 | 47.24 | 4.572 | 0.015 | 0.50 | |||||||||||||
| 165 | 170 | 5 | 50.29 | 51.82 | 1.52 | 0.045 | 1.54 | |||||||||||||
| MR162053 | 0 | -50 | 90 | 95 | 5 | 27.43 | 28.96 | 1.52 | 0.029 | 0.99 | ||||||||||
| 120 | 130 | 10 | 36.58 | 39.62 | 3.05 | 0.016 | 0.53 | |||||||||||||
| 140 | 145 | 5 | 42.67 | 44.20 | 1.52 | 0.118 | 4.05 | |||||||||||||
| 185 | 190 | 5 | 56.39 | 57.91 | 1.52 | 0.070 | 2.40 | |||||||||||||
| MR162054 | 0 | -50 | 140 | 160 | 20 | 42.67 | 48.77 | 6.10 | 0.023 | 0.78 | ||||||||||
| 170 | 185 | 15 | 51.82 | 56.39 | 4.57 | 0.046 | 1.57 | |||||||||||||
| 195 | 200 | 5 | 59.44 | 60.96 | 1.52 | 0.018 | 0.62 | |||||||||||||
| MR162055 | 0 | -45 | No Significant Results | |||||||||||||||||
| MR162056 | 050 | -50 | 60 | 65 | 5 | 18.29 | 19.81 | 1.52 | 0.041 | 1.41 | ||||||||||
| 165 | 175 | 10 | 50.29 | 53.34 | 3.05 | 0.021 | 0.72 | |||||||||||||
| 190 | 200 | 10 | 57.91 | 60.96 | 3.05 | 0.030 | 1.01 | |||||||||||||
| 245 | 250 | 5 | 74.68 | 76.20 | 1.52 | 0.021 | 0.72 | |||||||||||||
| MR162057 | 310 | -50 | 80 | 85 | 5 | 24.38 | 25.91 | 1.52 | 0.026 | 0.89 | ||||||||||
| 180 | 185 | 5 | 54.86 | 56.39 | 1.52 | 0.096 | 3.29 | |||||||||||||
| 210 | 220 | 10 | 64.01 | 67.06 | 3.05 | 0.024 | 0.81 | |||||||||||||
| MR162058 | 0 | -45 | 200 | 205 | 5 | 60.96 | 62.48 | 1.52 | 0.017 | 0.58 | ||||||||||
| 285 | 290 | 5 | 86.87 | 88.39 | 1.52 | 0.061 | 2.09 | |||||||||||||
| MR162059 | 035 | -45 | 195 | 200 | 5 | 59.44 | 60.96 | 1.52 | 0.020 | 0.69 | ||||||||||
| 220 | 225 | 5 | 67.06 | 68.58 | 1.52 | 0.055 | 1.89 | |||||||||||||
| MR162060 | 300 | -35 | 275 | 295 | 20 | 83.82 | 89.92 | 6.10 | 0.019 | 0.63 | ||||||||||
| MR162061 | 0 | -75 | 120 | 125 | 5 | 36.58 | 38.10 | 1.52 | 0.015 | 0.51 | ||||||||||
All holes presented in Table 1 were completed by reverse circulation (RC) drilling. True width is estimated at 50-70% 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
Scorpio Gold Corp.
Peter J. Hawley
President & CEO
(819) 825-7618
phawley@scorpiogold.com
www.scorpiogold.com