Scorpio Gold Reports Final Results From 2013 Expansion Drilling at the Bluelite Satellite Deposit, Mineral Ridge Project, Nev...
17 März 2014 - 1:00PM
Marketwired
Scorpio Gold Reports Final Results From 2013 Expansion Drilling at
the Bluelite Satellite Deposit, Mineral Ridge Project, Nevada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 17, 2014) -
Scorpio Gold Corporation ("Scorpio Gold" or the "Company")
(TSX-VENTURE SGN) reports additional results from its 2013
satellite deposit drilling program at the 70% owned Mineral Ridge
project, located in Nevada. The Bluelite deposit lies west of the
currently producing Drinkwater and Mary pits and 400 meters
northwest of the leach pad.
The 2013 satellite drilling program was designed to upgrade and
potentially increase the mineral resource estimate completed by
Telesto Nevada Inc. ("Telesto") for a number of satellite deposits
including Bluelite, which was reported in the Company's August 16,
2013 news release. Final results from the 2013 drilling on the
Bluelite deposit have added to an overall successful program,
returning significant intercepts both within and extending outside
of the floating cone pit shells modelled by Telesto. Results from
continuation of the satellite deposit drilling program in 2014 will
be released as received and compiled.
Previous results from earlier phases of expansion drilling on
the Bluelite deposit were reported in the Company's November 10,
2013, November 20, 2013 and December 16, 2013 news releases.
Highlights of the final results received for the 2013 drilling at
Bluelite include:
- MR13774: 1.09 grams per tonne ("g/t") gold over 4.57
meters
- MR13775: 2.76 g/t gold over 7.62 meters
A drill hole location map is available at:
www.scorpiogold.com/i/maps/mr/Bluelite_DHplan.jpg
Table 1. Bluelite Deposit - 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) |
MR13760 |
0 |
-90 |
125 |
135 |
10 |
38.10 |
41.15 |
3.05 |
0.02 |
0.60 |
MR13761 |
0 |
-90 |
No Significant Results |
MR13770 |
0 |
-90 |
No Significant Results |
MR13771 |
0 |
-90 |
40 |
45 |
5 |
12.19 |
13.72 |
1.52 |
0.08 |
2.74 |
|
|
|
265 |
270 |
5 |
80.77 |
82.30 |
1.52 |
0.02 |
0.51 |
MR13772 |
0 |
-90 |
10 |
15 |
5 |
3.05 |
4.57 |
1.52 |
0.09 |
3.19 |
|
|
|
80 |
100 |
20 |
24.38 |
30.48 |
6.10 |
0.02 |
0.76 |
MR13773 |
0 |
-90 |
No Significant Results |
MR13774 |
0 |
-90 |
60 |
65 |
5 |
18.29 |
19.81 |
1.52 |
0.01 |
0.45 |
|
|
|
75 |
90 |
15 |
22.86 |
27.43 |
4.57 |
0.03 |
1.09 |
MR13775 |
0 |
-90 |
45 |
50 |
5 |
13.72 |
15.24 |
1.52 |
0.02 |
0.55 |
|
|
|
85 |
110 |
25 |
25.91 |
33.53 |
7.62 |
0.08 |
2.76 |
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:
www.scorpiogold.com/i/pdf/reports/QAQC-MR.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. The Company is assessing
its exploration plans for the Goldwedge property 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
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 future
resource estimates and other exploration activities on the
satellite deposits. 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.
Scorpio Gold CorporationSteve RoebuckPresident(819)
825-7618sroebuck@scorpiogold.comTorrey Hills CapitalJim
MacdonaldInvestor Relations(858)
456-7300jm@sdthc.comwww.scorpiogold.com
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