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 stood at 203,945 ounces of gold. Mining was suspended in early November 2017.
In October 2017, the Company reported on a positive feasibility study for re-processing the residual heap leach material with a proven & probable reserve of 6.9 million tons grading 0.017 oz/t or 117,200 oz. of gold; providing for 5 years of additional mine life at Mineral Ridge. The Company intends to pursue financing for the construction of a 4,000 TPD milling facility with CIL recovery and dry stack tailings circuit. Mine Technical Services has been engaged to complete a NI-43-101 compliant mineral resource estimate on existing drilled targets at the Mineral Ridge mine for possible run of mine feed to the proposed milling facility. 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