- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Scorpio Gold Stock Rises on Expansion Drilling Results from NW Brodie Trend
Scorpio Gold stock rose on encouraging results from 2015 expansion drilling on the NW Brodie trend at the Mineral Ridge project.
Scorpio Gold (TSXV:SGN) kicked off the week with encouraging results from 2015 expansion drilling on the NW Brodie trend at its Mineral Ridge project in Nevada.
The program, which included infill, development and exploration drilling, was aimed at expanding and upgrading the current mineral reserve and resource base, as well as potentially extending the project’s mine life.
The company believes the results are very promising and could potentially allow for a new resource in the area. One key highlight is hole MR151451, which intersected 17.07 g/t gold over 1.5 meters. According to the company’s press release, further results are as follows:
- MR151452: 2.44 g/t gold over 6.10 meters
- MR151484: 2.91 g/t gold over 6.10 meters
- MR151522: 5.89 g/t gold over 6.10 meters
- MR151523: 1.09 g/t gold over 12.19 meters
- MR151562: 1.35 g/t gold over 22.86 meters
- MR151563: 2.63 g/t gold over 4.57 meters
- MR151564: 3.87 g/t gold over 4.57 meters
- MR151566: 2.93 g/t gold over 7.62 meters
- MR151569: 3.28 g/t gold over 6.10 meters
The company said that the exploration drilling in 2015 will continue along the NW Brodie trend, which is a semi-continuous mineralized corridor that is up to 300 meters wide and extends over a 500-meter strike length between the Brodie and Bluelite deposits. The area is well out of the current defined resources and modeled pit outlines.
More positive drill results
This isn’t the first expansion drill program the company has done. In fact, on July 20, Scorpio Gold released results from 2015 expansion drilling at the Bluelite satellite deposit target area; that program is also aimed at expanding and upgrading the current mineral reserve and resource base.
Highlights from this last phase of exploration drilling at Bluelite include hole MR151450, which intersected 2.03 g/t gold over 6.1 meters, and hole MR151511, which intersected 1.47 g/t gold over 7.62 meters. In addition, 4.18 g/t gold over 9.14 meters was found in hole MR151535.
Scorpio Gold stock up
Monday’s news sent Scorpio Gold stock up by 22.22 percent to hit $0.11; it later settled back at $0.09. And while that might sound a little discouraging, it’s worth noting that the company will likely be releasing more news in the near term.
For one, Bluelite is undergoing pre-production development work, with open-pit production scheduled to start there in the third quarter of this year. For another, the company recently ramped up gold production at Mineral Ridge, reporting a 7-percent increase in the first half of 2015 compared to the year-ago period. The company’s total production for Q2 2015 reached 8,738 ounces of gold and 3,591 ounces of silver, and for the whole year Scorpio anticipates total output of 40,000 to 45,000 ounces of gold.
Securities Disclosure: I, Kristen Moran, hold no direct investment interest in any company mentioned in this article.
Outlook Reports
Featured Precious Metals Stocks
Browse Companies
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 2176.49 | +3.62 | |
Silver | 24.44 | -0.22 | |
Copper | 4.01 | -0.01 | |
Oil | 81.58 | -0.37 | |
Heating Oil | 2.62 | -0.05 | |
Natural Gas | 1.56 | -0.05 |
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.