Scorpio Gold Corporation (TSX-V:SGN)
a Canadian-based gold producer. The Company holds a 70% interest in the Mineral Ridge gold project with joint venture partner Elevon, LLC (30%).
Mineral Ridge is a conventional open pit heap leach operation, located 6 km northwest of the town of Silver Peak and 56 km west of Tonopah in Esmeralda County, Nevada. Scorpio Gold achieved commercial production status at Mineral Ridge on January 1, 2012 and as of September 30, 2017 total production stands at 203,945 ounces of gold.
Current mining is expected to continue through the first week of November 2017, at which time mining will be suspended while evaluations are conducted by Mine Technical Services ("MTS") on the mine's remaining internal resources for a NI-43-101 compliant resource and reserve estimate and updated mine plan. Based on the positive results from the recently completed feasibility study, the Company intends to pursue financing for the construction of a 4,000 TPD milling facility with CIL recovery and dry stack tailings circuit. The Company also intends to add additional run of mine resources, when confirmed by MTS, to the already confirmed heap leach resource for processing and recovery of the contained precious metals. Construction of the milling facility will begin once financing is obtained and the Plan of Operations Amendment and Water Pollution Control permit are approved and issued. Permit approval is expected in early 2018.
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 that is currently on care and maintenance.
The Company continues to seek and evaluate new projects, mergers and acquisitions that will increase its asset base as well as enhance value for its shareholders.
Further details are available in the Company's Financial Statements
, News Releases
and within the Mineral Ridge Operation
and Goldwedge Project