Scorpio Gold Begins Underground Bulk Sampling Program at its Goldwedge Mine, Nevada
TSXV:SGN
Unit 1–15782 Marine Drive
White Rock, BC, V4B 1E6
T: (604) 536-2711
www.scorpiogold.com
News Release No. 297
Scorpio Gold Begins Underground Bulk Sampling Program
at its Goldwedge Mine, Nevada
Vancouver, October 13, 2020 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V:
SGN) is pleased to announce the commencement of an underground bulk sampl ing program and
preliminary metallurgical testing at its 100% owned Goldwedge Mine located in Manhattan Nevada. The
program is intended to provide additional information where 2020 drilling intersected high-grade gold and
silver mineralization proximal to underground workings as reported in the Company’s news release dated
July 27, 2020.
Scorpio Gold contracted Nevada Rand Mining LLC (“NRM”) to conduct the underground program which
began on October 7, 2020. The sampling will focus on an area where 2020 underground drill hole
GWUG20-001 intersected 7.6 m averaging 12.47 g/t gold and 176.23 g/t silver, that included 1.52 m
grading 53.49 g/t gold and 0.15 m grading 3,960 g/t silver. Hole GWUG20-001 was collared in the face of
cross-cut “A” at the 2060 m ( 6760 ft) elevation and was drilled at 247° azimuth and - 10° dip. The hole
intersected the high-grade mineralization from 25.3 to 32.9 m downhole. A 9 x 9 ft drift will be developed
from the crosscut face through the mineralized zone encountered in hole GWUG20-001 for bulk sampling
purposes. Once completed, this drift will also be proximal to mineralization intersected in 2020 drill holes,
GWUG20-002 and GWUG20-003.
Diane Zerga, General Manager for Mineral Ridge LLC & Goldwedge LLC, comments, “We are pleased to
work with NRM to advance our understanding of the mineralization at the Goldwedge Mine, which in turn
will assist in future drill planning, potential test mining and test milling at the Goldwedge mill facility.”
As reported in the Company’s July 27, 2020 news release, several samples from the 2020 drilling were
submitted for screen fire assay to determine any variability of the assay results in the fine and coarse
fractions. Results from this testing indicated that a coarse component for both gold and silver is present,
and although t he gold results are fairly repeatable when compared to the original assays, there was a
significant increase in silver values in many of the results.
The bulk sample program will consist of muck and channel sampling to provide a better representation of
the gold and silver grade distribution within the mineralized zone. Metallurgical testing will also be
conducted as a preliminary test to determine how the material will respond to conventional milling
processes.
NRM will be utilizing the existing Goldwedge mining equipment to complete the program, includ ing a
Tamrock EMCO 985 15 ton haul truck, a Wagner 3.5 yard scooptram, and an MWS83 jack leg drill.
About Scorpio Gold
Scorpio Gold holds a 100% interest in the advanced exploration-stage Goldwedge property in Manhattan,
Nevada with a fully permitted underground mine and a 400 ton per day mill facility and a 100% interest of
the Manhattan Property situated adjacent and proximal to the Goldwedge property. The Company is in the
process of finalizing the acquisition of the adjacent Kinross Manhattan property.
Scorpio Gold is party to an earn- in option agreement with Titan Mining Corporation whereby Titan can
earn an 80% joint venture interest on the Company’s 100% owned Mineral Ridge gold project located in
Scorpio Gold Corporation | 2
Esmeralda County, Nevada. To maintain the option Titan must spend a total of US$35 million over a staged
period of five years. If Titan spends the initial US$7 million of expenditures by January 1, 2022, it will also
have the right to acquire a 100% interest by paying Scorpio Gold US$35 million on or before December
31, 2022.
The technical information contained within this release has been reviewed and approved by independent
geological consultant, Mohan R Vulimiri, M.Sc., P.Geo., a Qualified Person as defined by NI 43-101.
ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION
Brian Lock
Interim CEO
For further information contact:
Brian Lock
Tel: (604) 889-2543
Email: [email protected]
Anthony Simone
Tel: (416) 881-5154
Email: [email protected]
Website: www.scorpiogold.com
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 bulk sampling and preliminary metallurgical testing program at its Goldwedge 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 risks involved in mineral 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.