Scorpio Gold Intersects 3.05 Metres Grading 15.85 g/t Gold on Solberry Zone, Mineral Ridge Project
finance.yahoo.com
Press Release Source: Scorpio Gold Corporation On Monday September 26, 2011, 8:30 am EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2011) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE: SGN - News) announces the initial drill results from the Solberry Zone at the 70% owned Mineral Ridge project, Nevada.
Peter J. Hawley, President and CEO reports, "In following up on historical drill results (Table 1), our initial drilling on the Solberry Zone has intersected a high-grade zone of enrichment of currently unknown extent at the northwest margin of the zone, returning 15.85 g/t gold over 3.05 metres (Table 2). The Solberry Zone is located approximately 760 metres (2,500 feet) west of the Drinkwater open pit where the Company is currently mining. Planning for a follow-up program to conduct in-fill and step-out drilling of the area of interest is in progress. Meanwhile, the drill has moved to the Brodie Zone located 975 metres (3,200 feet) southwest of the Drinkwater pit, to follow up on historical drill results in that area."
Table 1. Solberry Zone - Historical Drill Results
----------------------------------------------------------------------------
From To Width From To Width Gold Gold
Hole No. (ft) (ft) (ft) (m) (m) (m) OPT g/t
----------------------------------------------------------------------------
BMR-028 55 60 5 16.77 18.29 1.52 0.161 4.56
----------------------------------------------------------------------------
BMR-029 85 90 5 25.91 27.44 1.52 0.061 1.73
----------------------------------------------------------------------------
100 105 5 30.49 32.01 1.52 0.058 1.64
----------------------------------------------------------------------------
BMR-030 85 105 20 25.91 32.01 6.10 0.052 1.47
----------------------------------------------------------------------------
BMR-050 5 10 5 1.52 3.05 1.52 0.027 0.77
----------------------------------------------------------------------------
30 40 10 9.15 12.20 3.05 0.108 3.06
----------------------------------------------------------------------------
BMR-051 0 5 5 0.00 1.52 1.52 0.027 0.77
----------------------------------------------------------------------------
35 40 5 10.67 12.20 1.52 0.034 0.96
----------------------------------------------------------------------------
BMR-053 25 30 5 7.62 9.15 1.52 0.146 4.14
----------------------------------------------------------------------------
BMR-057 40 45 5 12.20 13.72 1.52 0.018 0.51
----------------------------------------------------------------------------
BMR-101 40 50 10 12.20 15.24 3.05 0.067 1.90
----------------------------------------------------------------------------
95 105 10 28.96 32.01 3.05 0.056 1.59
----------------------------------------------------------------------------
GW-60-86 45 50 5 13.72 15.24 1.52 0.065 1.84
----------------------------------------------------------------------------
145 150 5 44.21 45.73 1.52 0.072 2.04
----------------------------------------------------------------------------
165 170 5 50.30 51.83 1.52 0.025 0.71
----------------------------------------------------------------------------
GW-61-86 10 20 10 3.05 6.10 3.05 0.035 0.99
----------------------------------------------------------------------------
25 30 5 7.62 9.15 1.52 0.023 0.65
----------------------------------------------------------------------------
110 115 5 33.54 35.06 1.52 0.063 1.79
----------------------------------------------------------------------------
GW-62-86 85 95 10 25.91 28.96 3.05 0.055 1.56
----------------------------------------------------------------------------
Table 2. Solberry Zone - Significant Drill Results from 2011 Program
----------------------------------------------------------------------------
From To Width From To Width Gold Gold
Hole No. (ft) (ft) (ft) (m) (m) (m) OPT g/t
----------------------------------------------------------------------------
MR11158 60 80 20 18.29 24.39 6.10 0.017 0.48
----------------------------------------------------------------------------
MR11159 5 15 10 1.52 4.57 3.05 0.029 0.82
----------------------------------------------------------------------------
MR11165 45 65 20 13.72 19.82 6.10 0.116 3.29
----------------------------------------------------------------------------
MR11167 20 55 35 6.10 16.77 10.67 0.023 0.65
----------------------------------------------------------------------------
105 125 20 32.01 38.11 6.10 0.117 3.32
----------------------------------------------------------------------------
MR11168 50 60 10 15.24 18.29 3.05 0.019 0.54
----------------------------------------------------------------------------
MR11170 40 45 5 12.20 13.72 1.52 0.018 0.51
----------------------------------------------------------------------------
MR-11174 0 10 10 0.00 3.05 3.05 0.039 1.11
----------------------------------------------------------------------------
30 40 10 9.15 12.20 3.05 0.559 15.85
----------------------------------------------------------------------------
110 120 10 33.54 36.59 3.05 0.017 0.48
----------------------------------------------------------------------------
All holes presented in the above tables were by reverse circulation (RC) drilling. True width is estimated at approx.90% of downhole width. Analytical results were performed by American Assay Laboratory Inc. (AAL) in Sparks, Nevada, USA. AAL does not have ISO/IEC 17025 accreditation but implements a quality management system following ISO/IEC 17025 standards and maintains a paperwork trail for ISO/IEC 17025 accreditation. AAL participates in a number of testing and certification programs, details of which are presented in the Company's quality assurance and quality control (QA/QC) program for the Mineral Ridge project at: www.scorpiogold.com/Documents/QAQC-MR.pdf. External check assays to verify lab accuracy are routinely completed by ALS Chemex, an ISO 9001:2000 certified and ISO/IEC 17025:2005 accredited laboratory.
President & CEO, Peter J. Hawley, PGeo, is the Qualified Person for the Mineral Ridge project and has reviewed the content of this release. For additional information please see the Company's website at www.scorpiogold.com.
ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION
Peter J. Hawley, President & CEO
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. 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 those risk factors outlined in the Company's Management Discussion and Analysis for the year ended December 31, 2010 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 therein.
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.
Contact:
President & CEO
Peter J. Hawley
(819) 825-7618
phawley@scorpiogold.com
www.scorpiogold.com
Torrey Hills Capital
Investor Relations:
Andrew Hoffman
(858) 456-7300
ahoffman@torreyhillscapital.com |
