Scorpio Gold Reports Results from 2014 Expansion Drilling at the Bluelite Satellite Deposit, Mineral Ridge Project, Nevada
June 23 2014 - 8:00AM
Marketwired
Scorpio Gold Reports Results from 2014 Expansion Drilling at the
Bluelite Satellite Deposit, Mineral Ridge Project, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 23, 2014) -
Scorpio Gold Corporation ("Scorpio Gold" or the "Company")
(TSX-VENTURE:SGN) reports results from its 2014 satellite deposit
drilling program at the 70% owned Mineral Ridge project, located in
Nevada. The Bluelite deposit lies west of the currently producing
Drinkwater and Mary pits and 400 meters northwest of the leach
pad.
The 2014 satellite drilling program is a continuation of 2013
program and is designed to upgrade and potentially increase the
mineral resource estimate completed by Telesto Nevada Inc.
("Telesto") for a number of satellite deposits, including Bluelite,
which was reported in the Company's August 16, 2013 news release.
Drilling on the Bluelite deposit continues to meet with success,
returning significant intercepts both within and extending outside
of the floating cone pit shell modelled by Telesto.
Highlights from this latest phase of RC drilling on the Bluelite
deposit include:
- MR14861: 3.85 grams per tonne ("g/t") gold over 6.10
meters
- MR14866: 1.50 g/t gold over 9.14 meters
- MR14874: 4.67 g/t gold over 6.10 meters
- MR14876: 3.07 g/t gold over 3.05 meters
A drill hole location map is available at:
www.scorpiogold.com/i/maps/mr/Bluelite_DHplan.jpg
Table 1. Bluelite Deposit - 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) |
MR14861 |
0 |
-90 |
10 |
30 |
20 |
3.05 |
9.14 |
6.10 |
0.112 |
3.85 |
|
|
|
40 |
45 |
5 |
12.19 |
13.72 |
1.52 |
0.012 |
0.40 |
|
|
|
130 |
135 |
5 |
39.62 |
41.15 |
1.52 |
0.029 |
1.00 |
MR14862 |
0 |
-90 |
115 |
120 |
5 |
35.05 |
36.58 |
1.52 |
0.012 |
0.41 |
MR14863 |
0 |
-90 |
No Significant Results |
MR14864 |
0 |
-90 |
140 |
145 |
5 |
42.67 |
44.20 |
1.52 |
0.096 |
3.29 |
|
|
|
165 |
170 |
5 |
50.29 |
51.82 |
1.52 |
0.037 |
1.27 |
|
|
|
205 |
210 |
5 |
62.48 |
64.01 |
1.52 |
0.021 |
0.72 |
|
|
|
240 |
245 |
5 |
73.15 |
74.68 |
1.52 |
0.013 |
0.45 |
MR14865 |
0 |
-90 |
110 |
130 |
20 |
33.53 |
39.62 |
6.10 |
0.012 |
0.42 |
|
|
|
140 |
145 |
5 |
42.67 |
44.20 |
1.52 |
0.019 |
0.65 |
|
|
|
190 |
230 |
40 |
57.91 |
70.10 |
12.19 |
0.027 |
0.92 |
|
|
|
240 |
245 |
5 |
73.15 |
74.68 |
1.52 |
0.021 |
0.71 |
|
|
|
270 |
275 |
5 |
82.30 |
83.82 |
1.52 |
0.016 |
0.55 |
MR14866 |
0 |
-90 |
200 |
205 |
5 |
60.96 |
62.48 |
1.52 |
0.019 |
0.65 |
|
|
|
215 |
245 |
30 |
65.53 |
74.68 |
9.14 |
0.044 |
1.50 |
MR14867 |
0 |
-90 |
195 |
210 |
15 |
59.44 |
64.01 |
4.57 |
0.031 |
1.05 |
|
|
|
250 |
255 |
5 |
76.20 |
77.72 |
1.52 |
0.012 |
0.41 |
|
|
|
260 |
270 |
10 |
79.25 |
82.30 |
3.05 |
0.015 |
0.51 |
MR14868 |
0 |
-90 |
50 |
55 |
5 |
15.24 |
16.76 |
1.52 |
0.010 |
0.34 |
|
|
|
255 |
260 |
5 |
77.72 |
79.25 |
1.52 |
0.024 |
0.82 |
MR14869 |
0 |
-90 |
140 |
145 |
5 |
42.67 |
44.20 |
1.52 |
0.015 |
0.51 |
|
|
|
170 |
175 |
5 |
51.82 |
53.34 |
1.52 |
0.012 |
0.41 |
|
|
|
195 |
200 |
5 |
59.44 |
60.96 |
1.52 |
0.012 |
0.41 |
|
|
|
255 |
270 |
15 |
77.72 |
82.30 |
4.57 |
0.027 |
0.92 |
MR14870 |
0 |
-90 |
160 |
165 |
5 |
48.77 |
50.29 |
1.52 |
0.067 |
2.30 |
|
|
|
265 |
275 |
10 |
80.77 |
83.82 |
3.05 |
0.044 |
1.52 |
|
|
|
305 |
310 |
5 |
92.96 |
94.49 |
1.52 |
0.012 |
0.40 |
MR14871 |
0 |
-90 |
30 |
35 |
5 |
9.14 |
10.67 |
1.52 |
0.014 |
0.48 |
|
|
|
40 |
45 |
5 |
12.19 |
13.72 |
1.52 |
0.021 |
0.72 |
|
|
|
50 |
55 |
5 |
15.24 |
16.76 |
1.52 |
0.017 |
0.58 |
|
|
|
220 |
225 |
5 |
67.06 |
68.58 |
1.52 |
0.068 |
2.33 |
MR14872 |
0 |
-90 |
35 |
40 |
5 |
10.67 |
12.19 |
1.52 |
0.082 |
2.81 |
|
|
|
40 |
45 |
5 |
12.19 |
13.72 |
1.52 |
0.006 |
0.21 |
|
|
|
45 |
50 |
5 |
13.72 |
15.24 |
1.52 |
0.021 |
0.70 |
|
|
|
35 |
50 |
15 |
10.67 |
15.24 |
4.57 |
0.036 |
1.24 |
MR14873 |
0 |
-90 |
35 |
40 |
5 |
10.67 |
12.19 |
1.52 |
0.096 |
3.29 |
MR14874 |
0 |
-90 |
30 |
50 |
20 |
9.14 |
15.24 |
6.10 |
0.136 |
4.67 |
|
|
|
70 |
75 |
5 |
21.34 |
22.86 |
1.52 |
0.014 |
0.49 |
|
|
|
90 |
95 |
5 |
27.43 |
28.96 |
1.52 |
0.025 |
0.85 |
MR14875 |
0 |
-90 |
50 |
55 |
5 |
15.24 |
16.76 |
1.52 |
0.027 |
0.93 |
|
|
|
85 |
90 |
5 |
25.91 |
27.43 |
1.52 |
0.013 |
0.45 |
MR14876 |
0 |
-90 |
60 |
65 |
5 |
18.29 |
19.81 |
1.52 |
0.051 |
1.75 |
|
|
|
85 |
95 |
10 |
25.91 |
28.96 |
3.05 |
0.090 |
3.07 |
MR14877 |
0 |
-90 |
No Significant Results |
MR14878 |
0 |
-90 |
90 |
95 |
5 |
27.43 |
28.96 |
1.52 |
0.011 |
0.39 |
|
|
|
140 |
145 |
5 |
42.67 |
44.20 |
1.52 |
0.015 |
0.50 |
All holes presented in Table 1 were completed by reverse
circulation (RC) drilling. True width is estimated at 90-100% 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 at:
www.scorpiogold.com/i/pdf/reports/QAQC-MR.pdf.
About Scorpio Gold
Scorpio Gold holds a 70% interest in the Mineral Ridge gold
mining operation located in Esmeralda County, Nevada with joint
venture partner Waterton Global Value L.P. (30%), and is currently
entitled to receive 80% of cash flow generated. Mineral Ridge is
currently in production as 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 and
processing facility in Manhattan, Nevada. The Company is assessing
its exploration plans for the Goldwedge property as well as the
potential for toll milling at the Goldwedge plant, which is
currently permitted for 400 tons per day.
Scorpio Gold's President, Steve Roebuck, 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, 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 potential
further exploration or development of the Solberry satellite
deposit, any potential expansion of the current pit shell outline
thereof, and any potential increase in the mineral resource
estimate in respect thereof. 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.
Scorpio Gold CorporationSteve RoebuckPresident(819)
825-7618sroebuck@scorpiogold.comwww.scorpiogold.comInvestor
Relations:Jim MacdonaldTorrey Hills Capital(858)
456-7300jm@sdthc.com
Scorpio Gold (TSXV:SGN)
Historical Stock Chart
From May 2024 to Jun 2024
Scorpio Gold (TSXV:SGN)
Historical Stock Chart
From Jun 2023 to Jun 2024