Resource News

Scorpio Gold Corp. (TSXV:SGN) announced results from 2015 exploration drilling at the Copiosus, Tehillah and Tarantula targets areas at its Nevada-based Mineral Ridge project. Scorpio has a 70-percent stake in Mineral Ridge.

Scorpio Gold Corp. (TSXV:SGN) announced results from 2015 exploration drilling at the Copiosus, Tehillah and Tarantula targets areas at its Nevada-based Mineral Ridge project. Scorpio has a 70-percent stake in Mineral Ridge.
As quoted in the press release:

Exploration drilling in 2015 has tested a number of outlier target areas to the main deposits at Mineral Ridge. The Copiosus target area lies ~500-750 meters northeast of the Drinkwater pit. Field investigation of a geophysical anomaly at Copiosus identified a post-mineral pipe-like structure in the northeast corner of the target area. Two holes were drilled at Copiosus; MR151728 tested the down-dip extension of the mineralized Drinkwater horizon 500 meters northeast of the Drinkwater pit and MR151734 targeted the intersection of the horizon with the pipe-like structure a further 250 meters to the northeast. MR151728 intersected 3 meters of low-grade mineralization at the expected target depth (Table 1). The geological interpretation is that the mineralizing shear zone flattened in this area, which resulted in less dilation and potential for mineralization compared to the Drinkwater deposit. MR151734 intersected mineralization ~200 meters above the targeted Drinkwater horizon. Unfortunately, rough topography prevented collaring the hole in close proximity to the pipe-like structure and it was not intersected at depth.
The Tehillah target is a high-grade silver prospect in the Reed Dolomite formation located ~1,200 meters northeast of the Mary LC pit. Multiple historic shallow shafts and small stopes have been excavated in the area. Six holes (MR151737-742) were drilled across the structure but no significant gold or silver mineralization was encountered.
The Tarantula target lies ~1,200 meters south of the Brodie deposit in an area of multiple historic high-grade adits. Exploration drilling in 2015 was constrained by the Company’s existing drill permit, which did not allow for drill set ups proximal to the highest-grade underground workings. The mineralized structure was intersected in several holes (Table 2) but returned relatively low grades compared to the historical workings. The Company plans to file for an amendment to its permitted drill plan to allow for testing of the known higher-grade areas in 2016.

Click here to read the full Scorpio Gold Corp. (TSXV:SGN) press release.

MARKETS

Markets
TSX19028.86+167.50
TSXV623.23+5.97
DOW31097.26+321.83
S&P 5003825.33+39.95
NASD11127.85+99.11
ASX6539.90-28.20

COMMODITIES

Commodities
Gold1808.82+0.41
Silver19.98+0.13
Copper3.57-0.14
Palladium1934.21-10.79
Platinum887.00+1.00
Oil110.66+4.90
Heating Oil3.94+0.11
Natural Gas5.88+0.26

DOWNLOAD FREE REPORTS

×