VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 12, 2011) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (News - Market indicators) announces initial drill results from 2011 reverse circulation (RC) exploration and definition drilling in the Drinkwater, Mary North and Mary LC areas of the Mineral Ridge gold deposit, Nevada.
Peter J. Hawley, President & CEO reports, "The initial 2011 exploration drilling has been successful in expanding the known mineralization beyond the existing open pit areas. For example, results to date for the Mary North area report mineralization extending to over 300 metres beyond the existing pit wall. These results demonstrate the widespread nature of mineralization that hosts the Mineral Ridge deposit, and the opportunity for Scorpio Gold to significantly expand the mineral resource base. The Company will continue to release results as they are received and compiled."
Results presented in Tables 1-4 are part of the Phase I drilling that is designed to expand and upgrade the existing mineral resource estimate in the vicinity of the existing pits scheduled for mining this year (see February 2, 2011 news release). Condemnation drilling is also underway to verify sterile areas for future site facilities.
Table 1. Mary LC Area – Exploration RC Drill Results
Drill Hole |
Location |
From (m |
) |
To (m |
) |
Width (m |
) |
Gold (g/t |
) |
MR-11-091 |
26 metres northwest of Mary LC Pit |
24.39 |
|
33.54 |
|
9.15 |
|
1.52 |
|
MR-11-097 |
23 metres northwest of Mary LC Pit |
16.77 |
|
18.29 |
|
1.52 |
|
0.34 |
|
MR-11-098 |
61 metres northwest of Mary LC Pit |
30.49 |
|
33.54 |
|
3.05 |
|
0.57 |
|
|
|
53.35 |
|
54.88 |
|
1.52 |
|
0.51 |
|
|
|
56.40 |
|
57.93 |
|
1.52 |
|
0.31 |
|
|
|
60.98 |
|
65.55 |
|
4.57 |
|
0.59 |
|
MR-11-099 |
75 metres northwest of Mary LC Pit |
28.96 |
|
30.49 |
|
1.52 |
|
1.64 |
|
|
|
33.54 |
|
57.93 |
|
24.39 |
|
0.57 |
|
Including |
|
33.54 |
|
44.21 |
|
10.67 |
|
0.67 |
|
Including |
|
33.54 |
|
41.16 |
|
7.62 |
|
0.85 |
|
Including |
|
44.21 |
|
57.93 |
|
13.72 |
|
0.66 |
|
Including |
|
50.30 |
|
53.35 |
|
3.05 |
|
0.57 |
|
MR-11-100 |
Condemnation Drilling |
|
|
|
|
|
|
Nil |
|
Table 2. Mary North Area – Exploration RC Drill Results
Drill Hole |
Location |
From (m |
) |
To (m |
) |
Width (m |
) |
Gold (g/t |
) |
MR-11-101 |
10.5 metres northwest corner of Mary North Pit |
4.57 |
|
18.29 |
|
13.72 |
|
1.69 |
|
Including |
|
4.57 |
|
13.72 |
|
9.15 |
|
2.28 |
|
MR-11-104 |
Condemnation Drilling |
|
|
|
|
|
|
Nil |
|
MR-11-105 |
91.5 metres northeast of Mary North Pit |
57.93 |
|
59.45 |
|
1.52 |
|
0.37 |
|
|
|
73.17 |
|
80.79 |
|
7.62 |
|
0.51 |
|
MR-11-106 |
84 metres northeast of Mary North Pit |
118.90 |
|
125.00 |
|
6.10 |
|
0.94 |
|
MR-11-107 |
84 metres northeast of Mary North Pit |
187.50 |
|
189.02 |
|
1.52 |
|
0.85 |
|
MR-11-108 |
76 metres northeast of Mary North Pit |
106.71 |
|
109.76 |
|
3.05 |
|
0.48 |
|
MR-11-109 |
122 metres northeast of Mary North Pit |
62.50 |
|
64.02 |
|
1.52 |
|
0.34 |
|
|
|
105.18 |
|
117.38 |
|
12.20 |
|
0.92 |
|
Including |
|
108.23 |
|
117.38 |
|
9.15 |
|
1.17 |
|
MR-11-110 |
274 metres east of Mary North Pit |
0.00 |
|
3.05 |
|
3.05 |
|
0.43 |
|
|
|
121.95 |
|
126.52 |
|
4.57 |
|
1.11 |
|
MR-11-111 |
290 metres east of Mary North Pit |
0.00 |
|
3.05 |
|
3.05 |
|
0.79 |
|
|
|
19.82 |
|
22.87 |
|
3.05 |
|
0.60 |
|
MR-11-112 |
274 metres east of Mary North Pit |
80.79 |
|
82.32 |
|
1.52 |
|
0.45 |
|
|
|
85.37 |
|
89.94 |
|
4.57 |
|
0.28 |
|
MR-11-113 |
305 metres east of Mary North Pit |
64.02 |
|
70.12 |
|
6.10 |
|
1.07 |
|
MR-11-114 |
Results Pending |
|
|
|
|
|
|
|
|
Table 3. Drinkwater Area – Exploration RC Drill Results
Drill Hole |
Location |
From (m |
) |
To (m |
) |
Width (m |
) |
Gold (g/t |
) |
MR-11-115 |
30.5 metres east of Drinkwater Pit |
0.00 |
|
1.52 |
|
1.52 |
|
0.60 |
|
|
|
9.15 |
|
13.72 |
|
4.57 |
|
0.45 |
|
MR-11-116 |
30.5 metres northeast of Drinkwater Pit |
16.77 |
|
19.83 |
|
3.05 |
|
0.77 |
|
|
|
22.87 |
|
24.39 |
|
1.52 |
|
0.54 |
|
MR-11-117 |
30.5 metres east of Drinkwater Pit |
56.40 |
|
65.55 |
|
9.15 |
|
0.74 |
|
Table 4. Drinkwater Pit – Definition RC Drill Results
Drill Hole |
Location |
From (m |
) |
To (m |
) |
Width (m |
) |
Gold (g/t |
) |
MR-11-118 |
East boundary of Drinkwater Pit |
36.59 |
|
38.11 |
|
1.52 |
|
5.53 |
|
|
|
42.68 |
|
57.93 |
|
15.24 |
|
1.81 |
|
|
|
59.45 |
|
62.50 |
|
3.05 |
|
1.23 |
|
|
|
64.02 |
|
65.55 |
|
1.52 |
|
0.28 |
|
MR-11-119 |
Results Pending |
|
|
|
|
|
|
|
|
MR-11-120 |
Southeast corner of Drinkwater Pit |
30.49 |
|
36.59 |
|
6.10 |
|
3.57 |
|
|
|
47.26 |
|
51.83 |
|
4.57 |
|
1.79 |
|
MR-11-121 |
Lower southeast corner of Drinkwater Pit |
9.15 |
|
12.20 |
|
3.05 |
|
0.40 |
|
|
|
30.49 |
|
42.68 |
|
12.20 |
|
3.03 |
|
All RC holes presented in the above tables were drilled at 90º vertical dip; true width is estimated at ~90% 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/Documents/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.
For additional information please see the Company's website at www.scorpiogold.com.
President & CEO, Mr. Peter J. Hawley, PGeo, is the Company's Qualified Person for the various Company projects. Mr. Hawley is responsible for the current exploration and development programs and has reviewed the content of this release.
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 and development of its projects. 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 those risk factors outlined in the Company's Management Discussion and Analysis for the year ended December 31, 2010 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 therein.
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