Scorpio Gold Drilling Intersects 21.34 Metres Grading 1.17 g/t Gold on Brodie Northwest Trend, Mineral Ridge Project
04.06.2012 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - June 4, 2012) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) announces further results from its 2012 drilling program on the Brodie Northwest Zone, located 975 metres (3,200 feet) southwest of the current mining in the Drinkwater pit at the 70% owned Mineral Ridge project, Nevada.Peter J Hawley, CEO reports; "Drilling to date has allowed us to define the limits of the mineralized structural zone that trends through the Brodie corridor, connecting the Brodie, Brodie Northwest and Bluelite zones. Previous operators thought the Bluelite and Brodie zones were two separate mineralized bodies; however, results of the Fall 2011 and the initial 2012 drilling have indicated they are one and the same deposit, connected by the Brodie Northwest zone. Further infill drilling is planned once all results from the first pass 2012 drilling have been received, compiled and modeled. The Brodie corridor mineralization lies immediately west of the leach pad and is well situated for cost-effective open pit extraction."
Additional results from the Company's 2012 drilling program on the Brodie Northwest Zone are presented below. Previous drilling results for the Brodie and Brodie Northwest zones are presented in the Company's news releases of October 18, 2011, November 15, 2011 and May 24, 2012. Infill and step-out exploration drilling continues at Mineral Ridge; results will be released as received and compiled.
Table 1. Brodie Northwest Zone - Significant Drill Results
Hole No. From(ft) To(ft) Width(ft) From(m) To(m) Width(m) Gold(OPT) Gold(g/t)
MR12379 190 235 45 57.93 71.65 13.72 0.027 0.93
270 275 5 82.32 83.84 1.52 0.016 0.55
320 325 5 97.56 99.09 1.52 0.031 1.06
350 355 5 106.71 108.23 1.52 0.025 0.86
MR12380 260 265 5 79.27 80.79 1.52 0.035 1.20
280 300 20 85.37 91.46 6.10 0.026 0.90
415 435 20 126.52 132.52 6.10 0.023 0.77
MR12381 250 260 10 76.22 79.27 3.05 0.018 0.60
MR12382 85 90 5 25.91 27.44 1.52 0.028 0.96
365 405 40 111.28 123.48 12.20 0.051 1.76
425 430 5 129.57 131.10 1.52 0.037 1.27
MR12383 195 225 30 59.45 68.60 9.15 0.028 0.97
310 380 70 94.51 115.85 21.34 0.034 1.17
MR12384 170 180 10 51.83 54.88 3.05 0.023 0.77
210 215 5 64.02 65.55 1.52 0.026 0.89
225 235 10 68.60 71.65 3.05 0.074 2.52
275 280 5 83.84 85.37 1.52 0.113 4.56
300 305 5 91.46 92.99 1.52 0.024 0.82
315 320 5 96.04 97.56 1.52 0.029 0.99
400 405 5 121.95 123.48 1.52 0.023 0.79
445 450 5 135.67 137.20 1.52 0.021 0.72
A drill hole location map for the Brodie, Brodie Northwest, Bluelite, Solberry, Oromonte and Wedge B zones is available at: www.scorpiogold.com/i/maps/mr/MR_DHplanW.jpg.
All holes presented in the above table were completed by reverse circulation (RC) drilling. True width is estimated at ~90% of downhole width. Analytical results were performed by American Assay Laboratory Inc. ("AAL") in Sparks, Nevada, USA. AAL does not have ISO/IEC 17025 accreditation but implements a quality management system following ISO/IEC 17025 standards and maintains a paperwork trail for ISO/IEC 17025 accreditation. AAL participates in a number of testing and certification programs, details of which are presented in the Company's quality assurance and quality control (QA/QC) program for the Mineral Ridge project at: www.scorpiogold.com/i/pdf/reports/QAQC-MR.pdf. External check assays to verify lab accuracy are routinely completed by ALS Chemex, an ISO 9001:2000 certified and ISO/IEC 17025:2005 accredited laboratory.
Scorpio Gold's President & CEO, Peter J. Hawley, PGeo, is a Qualified Person for the Mineral Ridge project and has reviewed and approved the content of this release. For additional information please see the Company's website at www.scorpiogold.com.
ON BEHALF OF THE BOARD SCORPIO GOLD CORPORATION
Peter J. Hawley
President & CEO
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. 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 related to economic extraction of defined mineralization 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.
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 Information
Scorpio Gold Corporation
Peter J. Hawley, President & CEO
(819) 825-7618
phawley@scorpiogold.com
www.scorpiogold.com
Torrey Hills Capital
Jim Macdonald, Investor Relations
(858) 456-7300
jm@sdthc.com