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Nov 07, 2013

Scorpio Gold Intersects 4.43 g/t Gold over 10.67 meters at the Mary/LC Zone

Vancouver, November 7, 2013 - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX-V: SGN) announces additional results from its 2013 drill program in the vicinity of the proposed Mary LC pit expansion at the 70% owned Mineral Ridge project, located in Nevada.

The program is targeting undrilled areas within the Mary LC pit expansion design to determine if mineralization exists, tighten up drill hole spacing for resource estimation, and follow up on mineralized trends either below the proposed pit shell floor or outside of the existing cone boundary. Results continue to be very encouraging, including intersections of 4.43 grams per tonne ("g/t") over 10.67 meters, 3.33 g/t over 6.10 meters and 3.89 g/t over 3.05 meters.

Peter J. Hawley, CEO comments: "We are very pleased that the 2013 drilling on the Mary/LC Zone continues to have such a high success rate, with over 85% of the holes to date intersecting mineralization where expected based on our wire frame modelling. Each successful drill intersection is converting areas previously accorded zero grade within our block model into mineralization, potentially adding to the resource base and increasing confidence levels."

A drill hole location map is available at: View Drill Plan.

Table 1. Mary/LC Zone - Significant Drill Results
Hole No. Azm (deg) Dip (deg) From (ft) To (ft) Width (ft) From (m) To (m) Width (m) Gold (OPT) Gold (g/t)
MR13600 0 -90 55 60 5 16.76 18.29 1.52 0.017 0.58
80 90 10 24.38 27.43 3.05 0.114 3.89
MR13601 225 -60 115 130 15 35.05 39.62 4.57 0.052 1.79
MR13602 0 -90 80 85 5 24.38 25.91 1.52 0.029 0.99
115 120 5 35.05 36.58 1.52 0.052 1.78
140 145 5 42.67 44.20 1.52 0.068 2.33
MR13603 225 -50 195 205 10 59.44 62.48 3.05 0.030 1.03
MR13604 0 -90 No Significant Results
MR13605 0 -90 105 110 5 32.00 33.53 1.52 0.075 2.57
MR13606 0 -90 115 150 35 35.05 45.72 10.67 0.129 4.43
MR13607 225 -55 125 150 25 38.10 45.72 7.62 0.021 0.72
MR13608 0 -90 No Significant Results
MR13609 0 -90 35 45 10 10.67 13.72 3.05 0.016 0.53
MR13610 0 -90 145 165 20 44.20 50.29 6.10 0.097 3.33
MR13611 225 -70 No Significant Results
MR13612 225 -50 95 115 20 28.96 35.05 6.10 0.013 0.45
MR13613 0 -90 115 120 5 35.05 36.58 1.52 0.027 0.93
MR13614 0 -90 170 185 15 51.82 56.39 4.57 0.045 1.53
MR13615 0 -90 155 165 10 47.24 50.29 3.05 0.012 0.41
MR13616 225 -50 150 160 10 45.72 48.77 3.05 0.086 2.95

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: View 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, and the advanced exploration-stage Pinon gold property near Carlin, Nevada. The Company is assessing its exploration plans for these properties as well as the potential for toll milling at the Goldwedge plant, which is currently permitted for 400 tons per day.

Scorpio Gold's CEO, 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.

ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION


Peter J. Hawley,
CEO

For further information contact:
Steve Roebuck Tel: (819) 825-7618
Email:

Investor Relations:
Jim Macdonald, Torrey Hills Capital
Tel: (858) 456-7300
Email:

Website: www.scorpiogold.com

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 plans for the Mary LC pit expansion. 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 exploration 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.