The reverse circulation (RC) drilling method is cheaper and faster than the diamond drill-core drilling method. However, minor contamination between adjacent intervals can sometimes occur with RC drilling.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 23, 2013) – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX VENTURE:SGN) reports further results from its 2013 satellite deposit drilling program at the 70% owned Mineral Ridge project, located in Nevada.
Nevada is richly endowed with gold and is the leading gold-producing state in the United States, producing around 80% of all the gold mined in the nation. Most of the gold in Nevada comes from large open pit mining of low-grade high-tonnage deposits along the Carlin Trend using cyanide heap leaching recovery methods. These deposits are some of the largest hydrothermal gold deposits in the world and is one of the world’s richest gold mining districts.
The first hole drilled in 2013 on the Oromonte deposit followed up on a higher-grade zone of mineralization intersected at depth in 2011-2012 drilling. This hole, MR13599, returned 22.30 g/t over 10.67 m (0.65 oz/ton over 35 ft). Combined with prior drilling, significant grades over substantial widths have now been intersected in four consecutive holes with the mineralization open in three directions.
- MR13599: 22.30 g/t over 10.67 meters
- MR12385*: 8.16 g/t over 10.67 meters
- MR12386*: 1.90 g/t over 6.10 meters
- MR11142*: 3.84 g/t over 10.67 meters
* Previously reported from prior drill programs.
The indicated zone of mineralization trends northerly and lies along the edge of a geophysical magnetic high. It has been intersected at 85 to 115 metres vertical depth and, although not accessible by open pit mining, may be amenable to underground extraction should further results support underground development. Historical underground workings are known to lie approximately 180 meters to the east. The significance of these drill results in context with their structural and geophysical setting will be evaluated for future follow up.
Drill Hole Location Map: www.scorpiogold.com/i/maps/mr/Oromonte_DHplan.jpg
Drill Hole Cross Section: www.scorpiogold.com/i/maps/mr/Oromonte_XS.jpg
Table 1. Oromonte Deposit – Significant Drill Results
* Previously reported from prior drill programs.
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 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.
Scorpio Gold’s CEO, Peter Hawley, and President, Steve Roebuck, will be attending the Denver Gold Forum held at the Hyatt Regency, Denver from September 22-25, 2013. Further information is available at: www.denvergoldforum.org/dgf13.
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 bodies at exploration, development and production stages. Scorpio Gold recently acquired the Goldwedge advanced exploration-stage property and processing facility in Manhattan, Nevada, and the Pinon advanced exploration-stage gold property near Carlin, Nevada. The Company is assessing its exploration plans for these properties 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
We've skipped some of the boilerplate. You can read it in here.
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 drilling, 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.