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Scorpio Gold Announces Significant Drill Results from Mineral Ridge Project in Nevada

Reviewed

Jun 28 2016

Scorpio Gold Corporation ("Scorpio Gold" or the "Company") reports final results from 2016 exploration drilling on the NW Brodie trend at its 70% owned Mineral Ridge project, located in Nevada.

The NW Brodie trend extends over a 500 meter strike length between the Brodie and Bluelite deposits. Exploration drilling in 2014-2015 on the NW Brodie trend was based on a geological model of shallow dipping, multiple stacked veins, which is consistent with mineralization in the Bluelite and Brodie deposits. Inconsistencies in the drilling results prompted a detailed examination of the data and an oriented core drilling program. An updated geological model was completed in 2016. The mineralization within the NW Brodie trend is now interpreted as a corridor of multiple tensional quartz veins with an average strike and dip of 255°/-60°. Due to the more steeply dipping nature of the mineralization, prior drilling with vertically oriented RC holes intersected the mineralization at acute angles, resulting in thicker intersections than true widths.

Based on depths to mineralization and current gold prices, the NW Brodie area is not considered economic at this time and no further work is currently planned in the area.

A drill hole location map is available at: DH Plan

Table 1. NW Brodie Trend - 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)
MR161936	0	-45	120	125	5	36.58	38.10	1.52	0.059	2.02
MR161956-957	180	-45	No Significant Results
MR161969	0	-75	145	150	5	44.20	45.72	1.52	0.010	0.34
MR161977	0	-75	140	145	5	42.67	44.20	1.52	0.049	1.68
MR162037	0	-75	10	15	5	3.05	4.57	1.52	0.026	0.89
			195	200	5	59.44	60.96	1.52	0.018	0.62
MR162043	0	-45	No Significant Results
MR162044	180	-45	125	130	5	38.10	39.62	1.52	0.015	0.51
MR162045	0	-45	105	110	5	32.00	33.53	1.52	0.030	1.03
			145	150	5	44.20	45.72	1.52	0.019	0.65
MR162047	0	-50	150	155	5	45.72	47.24	1.52	0.072	2.47
			185	190	5	56.39	57.91	1.52	0.037	1.27
MR162048	0	-60	190	195	5	57.91	59.44	1.52	0.011	0.38
MR162049	0	-50	145	150	5	44.20	45.72	1.52	0.012	0.41
MR162050	0	-50	35	40	5	10.67	12.19	1.52	0.065	2.23
			125	130	5	38.10	39.62	1.52	0.034	1.17
			140	145	5	42.67	44.20	1.52	0.026	0.89
MR162051	0	-65	10	15	5	3.05	4.57	1.52	0.043	1.47
			135	140	5	41.15	42.67	1.52	0.020	0.69
			165	170	5	50.29	51.82	1.52	0.015	0.51
			180	185	5	54.86	56.39	1.52	0.018	0.62
			195	200	5	59.44	60.96	1.52	0.030	1.03
MR162052	0	-60	85	90	5	25.91	27.43	1.52	0.029	0.99
			110	120	10	33.53	36.58	3.05	0.103	3.53
			140	155	15	42.67	47.24	4.572	0.015	0.50
			165	170	5	50.29	51.82	1.52	0.045	1.54
MR162053	0	-50	90	95	5	27.43	28.96	1.52	0.029	0.99
			120	130	10	36.58	39.62	3.05	0.016	0.53
			140	145	5	42.67	44.20	1.52	0.118	4.05
			185	190	5	56.39	57.91	1.52	0.070	2.40
MR162054	0	-50	140	160	20	42.67	48.77	6.10	0.023	0.78
			170	185	15	51.82	56.39	4.57	0.046	1.57
			195	200	5	59.44	60.96	1.52	0.018	0.62
MR162055	0	-45	No Significant Results
MR162056	050	-50	60	65	5	18.29	19.81	1.52	0.041	1.41
			165	175	10	50.29	53.34	3.05	0.021	0.72
			190	200	10	57.91	60.96	3.05	0.030	1.01
			245	250	5	74.68	76.20	1.52	0.021	0.72
MR162057	310	-50	80	85	5	24.38	25.91	1.52	0.026	0.89
			180	185	5	54.86	56.39	1.52	0.096	3.29
			210	220	10	64.01	67.06	3.05	0.024	0.81
MR162058	0	-45	200	205	5	60.96	62.48	1.52	0.017	0.58
			285	290	5	86.87	88.39	1.52	0.061	2.09
MR162059	035	-45	195	200	5	59.44	60.96	1.52	0.020	0.69
			220	225	5	67.06	68.58	1.52	0.055	1.89
MR162060	300	-35	275	295	20	83.82	89.92	6.10	0.019	0.63
MR162061	0	-75	120	125	5	36.58	38.10	1.52	0.015	0.51

All holes presented in Table 1 were completed by reverse circulation (RC) drilling. True width is estimated at 50-70% of downhole width. Scorpio Gold utilizes the analytical services of ALS Minerals (Reno, Nevada), an ISO/IEC 17025:2005 (CAN-P-4E, CAN-P-1579) accredited testing laboratory, and Bureau Veritas (Reno, Nevada), an ISO 9001 certified testing laboratory. External check assays to verify lab accuracy are routinely completed. Further details are presented in the Company's quality assurance and quality control program for the Mineral Ridge project, available at: MR QAQC.

Source:

http://www.scorpiogold.com/