VANCOUVER, British Columbia, July 27, 2017 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V:SGN) is pleased to report final results from its 2017 Phase I exploration drilling program at the Goldwedge project, located in Manhattan, Nevada.
The drill program was designed to target the extension of the favorable lithologic unit in the Goldwedge Mine, specifically the Zanzibar limestone bound within the Reliance Fault Zone. This zone plunges northward into the Manhattan caldera margin. Seven RC holes totaling 7,530 ft (2,295 m) were drilled from 5 pad locations.
Significant mineralization was encountered in 3 of the holes (GW17024, GW17026 and GW17029) that intercepted the targeted Zanzibar limestone within the Reliance Fault Zone. GW17029 targeted an area near elevated underground rib samples west of the Reliance Fault Zone, and intersected significant mineralization within 65 feet of the mineralized rib and above the lowest working underground level.
Table 1. 2017 Goldwedge Surface RC Drilling - Significant Results (>0.1 oz/t)
| Hole No. |
Azm (deg) |
Dip (deg) |
From (ft) |
To (ft) |
Width (ft) |
From (m) |
To (m) |
Width (m) |
Gold (oz/t) |
Gold (g/t) |
| GW17024 | 192 | 90 | 725 | 730 | 5 | 221.00 | 222.50 | 1.52 | 0.274 | 9.39 |
| GW17026 | 225 | 55 | 460 | 470 | 10 | 140.21 | 143.26 | 3.05 | 0.324 | 11.11 |
| GW17029 | 040 | 55 | 265 | 280 | 15 | 80.77 | 85.34 | 4.57 | 0.325 | 11.14 |
| 620 | 625 | 5 | 188.98 | 190.50 | 1.52 | 0.157 | 5.38 |
Three of the 7 holes (GW17027, GW17028, and GW17030) deviated and stayed in the Tertiary volcanic rock and did not drill the intended target. A fourth hole (GW17025) was drilled to intercept the Zanzibar limestone outside of the Reliance Fault Zone. No significant mineralization was encountered in these four holes.
Figure 1. Drill Hole Plan
Figure 2. Drill Hole Cross Section
All holes presented in Table 1 were completed by reverse circulation (“RC”) drilling. Widths are presented as down hole lengths; true widths are unknown at this time. Analytical results were performed by ALS Minerals in Reno, Nevada, an ISO/IEC 17025:2005 accredited facility. Further details are presented in the Company’s quality assurance and quality control program for the Goldwedge project available at: GW 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 Chairman, 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.
