Scorpio Gold, a joint venture partner of Golden Phoenix Minerals, has encountered gold mineralization at the Mary zone, which is located in the Mineral Ridge gold project in Nevada.
North - South Longitudinal Section of Gold Mineralization Being Exploited / Explored
Golden Phoenix has 30% interest in this gold project. This interest is maintained by having a membership interest in Mineral Ridge Gold.
According to Peter J. Hawley, Scorpio Gold’s CEO and President, the thickness of the Mary zone is extended continuously through the drilling results. These results also validate the mineralized gold that is expanding towards the southwest part from the Mary zone to the Mary LC Zone. The company has planned to begin an open pit mining program at the Mary zone later in January 2012.
The company has intersected 1.08 g/t gold over 6.10 m in hole MR11300, 0.93 g/t gold over 1.52 m in hole MR11301, 5.52 g/t gold over 1.52 m in hole MR11302, 21.53 g/t gold and 2.98 g/t gold over 1.52 m in hole MR11303, 5.79 g/t gold over 1.52 m, 1.49 g/t gold over 3.05 m in hole MR11307, 3.58 g/t gold over 1.52 m in hole MR11308, 1.23 g/t gold over 1.52 m in hole MR11309, 3.11 g/t gold over 7.62 m in hole MR11310, 2.78 g/t gold over 7.62 m in hole MR11313, 0.99 g/t gold over 1.52 m in hole MR11314, 3.71 g/t gold over 7.62 m in hole MR11317.
American Assay Laboratory (AAL) in Nevada has conducted the analytical results.