The Conversation (0)
Scorpio Gold (TSXV:SGN) reported initial results from its 2015 exploration drilling program on the Oromonte satellite deposit at the Mineral Ridge project in Nevada. Highlights from the 2014 core hole and initial results from the 2015 exploration drilling include: 17.08 grams per tonne gold over 4.02 meters, 18.18 g/t gold over 9.14 meters, and 10.56 g/t gold over 12.19 meters.
Oromonte continues to be the least explored of the satellite deposits at Mineral Ridge. It lies within a sparsely drilled target area of approximately 300 x 500 meters that is situated between the Solberry and Wedge deposits. A small mineral resource estimate containing almost entirely Indicated resources was reported for Oromonte based on 53 reverse circulation (“RC”) drill holes (as presented in the Company’s July 21, 2014 news release on the updated Life of Mine Plan for the Mineral Ridge Operation). There is currently no economic pit shell developed for the Oromonte deposit.
In 2014, three RC holes tested the southwest extent of the target area and one core hole (MR14982; Table 1) twinned RC hole, MR13599 (RC results previously released on Dec 22, 2014 and Sep 23, 2013). Drill holes MR13599, MR14982, and several adjacent holes drilled in 2012-13, intersected a zone of higher-grade mineralization located at 85 to 115 metres vertical depth, which is below the current extent of the estimated resource. Initial drilling in 2015 has tested the 100 meter gap between these holes and the southeast extent of drilling at the Solberry target area. Two of the three 2015 holes, MR151282-83, intersected the higher-grade mineralized zone from 106-126 meters vertical depth. With these intercepts, the zone of higher-grade mineralization has now been outlined over an area of approximately 75 x 85 meters at vertical depths ranging from 85 to 126 meters.
A preliminary interpretation of the mineralization in the Oromonte target area is that it represents a continuation of the mineralized horizon(s) between the Solberry and Wedge deposits offset by normal faulting. It is believed that the occurrence of a higher-grade zone of mineralization at depth may be related to a synform axis which concentrated mineralization in the Oromonte area. This mineralized zone was subsequently down-dropped by late stage normal faulting. A generalized geological model of the mineralization is presented here: Oromonte Cross Section.
Although not accessible by open pit mining, this deeper zone may be amenable to underground extraction should further results support underground development. Historical underground workings occur in the Wedge deposit area approximately 180 meters to the east.
Highlights of the 2014 core hole and initial results from the 2015 exploration drilling at Oromonte include:
MR14982: 17.08 grams per tonne (“g/t”) gold over 4.02 meters
MR151282: 18.18 g/t gold over 9.14 meters
MR151283: 10.56 g/t gold over 12.19 meters
Click here to read the Scorpio Gold (TSXV:SGN) press release
Click here to see the Scorpio Gold (TSXV:SGN) profile.