Scorpio GOLD Drills 1.69 G/T GOLD over 55.7 Metres at the Manhattan District, Nevada
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TSXV: SGN
#750-1095 W. Pender St.
Vancouver, BC V6E2M6
WWW.SCORPIOGOLD.COM
SCORPIO GOLD DRILLS 1.69 G/T GOLD OVER 55.7 METRES AT THE
MANHATTAN DISTRICT, NEVADA
Highlights
• Hole 24MN-009 returned:
o 1.69 grams per metric tonne (“g/t”) gold (“Au”) over 55.7 metres (“m”).
• Wide high -grade intercept demonstrates open -pit potential of the Goldwedge Undergroun d, further
confirming larger open-pit potential for Manhattan District
• The Goldwedge Underground Stope Trend is open at depth and along strike.
December 11, 2024 - Vancouver, British Columbia – Scorpio Gold Corp. (TSX-V: SGN, OTCQB: SRCRF,
FSE: RY9) (“Scorpio Gold”, or the “ Company”) is pleased to announce further results from its 2024 drilling
campaign at the Manhattan District Project (“Manhattan”), Nevada, USA. Under Scorpio’s new management,
the 2024 drilling campaign had two goals: (1) drilling to support an open-pit focused, maiden mineral resource
estimate, and (2) drilling to test expansion potential of the Goldwedge Underground Stope Trend (“Goldwedge
Trend”) and the Reliance Fault to the northwest of the historic Manhattan open pits. Hole 24MN-009 tested the
Goldwedge Trend successfully, extending mineralization and adding to the results announced on October 24,
2024 (Error! Reference source not found.).
Scorpio Gold’s Vice President of Exploration, Harrison Pokrandt, comme nted, “Hole 24MN-009 undercuts the
underground workings and previous drilling along the Goldwedge Trend. The 1.69 g/t over 55.7 metres interval
further strengthens our belief that the Goldwedge Trend has open pit potential at Manhattan. Results from the
2024 dril ling campaign are strengthening our belief in Manhattan’s potential as a multi -million-ounce gold
resource in Nevada”.
Scorpio Gold’s CEO, Zayn Kalyan, remarked, “2024 has been a transformative year for Scorpio Gold. With new
management and a re-set share structure we refocused the company on Manhattan’s potential to host a large
open-pit gold deposit. Today’s result is a large step forward, with a wide, high-grade intercept on the Goldwedge
Trend that is open for expansion . We have more drilling results expected in early 2025, ahead of Manhattan’s
maiden mineral resource estimate. We are using these results to guide a larger expansion drilling program in
2025.”
1379-6370-7664, v. 2
Figure 1: Plan view of Manhattan District gold mineralization. Note: Indicative grade shells are
shown, 2024 drill holes are labelled with their attributes listed in Table 3, B to B’ cross-section
noted in green (Figure 2).
1379-6370-7664, v. 2
Drilling Details
Drill hole 24MN-009 targeted the Goldwedge Trend beneath the underground workings and confirms
mineralization 115 m below surface that is open at depth, along strike, and to the east (see Figure 1).
The hole features notable mineralization related to the Goldwedge Trend within a drilled depth of 118.9 m to
174.7 m, including 2.53 g/t Au over 8.7 m and 4.71 g/t Au over 8.8 m (see
Drill Hole ID From (m) To (m) Intercept
(m) Gold (g/t) ETW¹ (m)
24MN-003 41.1 55.1 14.0 0.64 12.6
including 53.9 55.1 1.2 5.63 1.0
199.3 206.0 6.7 2.45 6.0
including 202.4 204.2 1.8 8.36 1.6
254.9 260.0 5.1 0.73 4.6
24MN-009 118.9 174.7 55.7 1.69 33.4
including 121.4 122.8 1.4 3.09 0.9
including 126.2 127.7 1.5 3.14 0.9
including 129.2 130.6 1.4 3.12 0.8
including 132.0 135.2 3.2 2.24 1.9
including 148.1 149.7 1.5 1.05 0.9
including 152.9 161.5 8.7 2.53 5.2
including 165.8 174.7 8.8 4.71 5.3
¹ “ETW” is "estimated true width" is based on drill hole geometry and geological interpretations.
Table 1). This interval expands the strong mineralization noted in historic surface and underground drill holes at
the Goldwedge Mine (see Figure 2). The mineralization is hosted within strong ly silicified and sericite-chlorite
altered argillite and limestone units with brecciated quartz-adularia-calcite veins. The zone is strongly deformed
(see Figure 3) with multiple brittle fault zones.
Drill Hole ID From (m) To (m) Intercept
(m) Gold (g/t) ETW¹ (m)
24MN-003 41.1 55.1 14.0 0.64 12.6
including 53.9 55.1 1.2 5.63 1.0
199.3 206.0 6.7 2.45 6.0
including 202.4 204.2 1.8 8.36 1.6
254.9 260.0 5.1 0.73 4.6
24MN-009 118.9 174.7 55.7 1.69 33.4
including 121.4 122.8 1.4 3.09 0.9
including 126.2 127.7 1.5 3.14 0.9
including 129.2 130.6 1.4 3.12 0.8
including 132.0 135.2 3.2 2.24 1.9
including 148.1 149.7 1.5 1.05 0.9
including 152.9 161.5 8.7 2.53 5.2
including 165.8 174.7 8.8 4.71 5.3
¹ “ETW” is "estimated true width" is based on drill hole geometry and geological interpretations.
Table 1: Manhattan District gold assay highlights from 2024 drilling campaign.
1379-6370-7664, v. 2
Figure 2: Drill hole 24MN -009 cross-section (B to B’), as noted in Figure 1. Note: Coordinate
system is ESPG: 32008 (feet); elevations are in feet; drill holes without collar dots are oblique to
the cross-section plane.
1379-6370-7664, v. 2
Figure 3: Hole 24MN-009 highlight from 554 to 563 feet. Showing strongly deformed, altered and
mineralized Goldhill Formation sediments, which are indicative of mineralization associated with
the Stope Trend. These deformation zones increase our understanding of the geology at
Manhattan.
Drill Hole ID From (m) To (m) Intercept
(m) Gold (g/t)
GWUG20-001 25.3 32.9 7.6 12.47
including 26.8 28.4 1.5 53.49
MWRC22-003 59.5 76.3 16.8 27.16
including 59.5 62.5 3.1 145.74
MWRC22-010 134.2 147.9 13.7 11.98
MWRC22-012 27.5 35.1 7.6 3.85
MWRC22-014 16.8 19.8 3.1 4.03
79.3 86.9 7.6 3.53
including 79.3 80.8 1.5 14.58
MWRC22-018 62.5 85.4 22.9 4.90
including 70.2 71.7 1.5 38.76
112.9 122.0 9.2 5.19
including 14.4 115.9 1.5 20.17
212.0 242.5 30.5 1.22
259.3 285.2 25.9 1.28
MWRC22-021 24.4 65.6 41.2 3.98
including 35.1 42.7 7.6 15.41
266.9 280.6 13.7 1.75
1379-6370-7664, v. 2
Table 2: Significant historic Scorpio Gold drilling results at Manhattan. Drill holes are indicated on Figure 1. For
full detail refer to news releases dated July 27, 2020, May 12, 2022 and October 6, 2022.
Drill Hole ID Easting Northing Azimuth Dip Total Depth (m)
24MN-003 380148 1379647 45 -62 1017
24MN-009 379992 1381664 255 -75 754
GWUG20-001 379536 1381781 243 -10 48
MWRC22-003 380571 1380128 238 -62 186
MWRC22-011 381052 1378374 40 -61 183
MWRC22-014 380857 1378618 47 -60 213
MWRC22-018 380904 1380581 240 -47 290
MWRC22-021 380982 1380298 66 -46 299
Table 3: Manhattan District drill hole attributes. Coordinate system is ESPG: 32008 (feet).
OPEN HOUSE
Scorpio Gold will be hosting an open house at headquarters in Vancouver, BC on January 21, 2025, from 1-3pm
PT. Welcoming shareholders and the investment community to meet with management, ask questions about our
Manhattan and Mineral Ridge projects, preview our drill core and more. To learn more about the event, or to
RSVP (by January 10, 2025), please email [email protected].
QA/QC
Diamond drill core samples were bagged and secured with security tags to ensure integrity during transportation
to either the Reno, NV, or Elko, NV, ALS Geochemistry facility for preparation. For Quality Assurance, unmarked
blanks (coarse and fine), unmarked certified reference materials, and requested laboratory duplicates were
inserted into the sampling sequence. QA samples were systematically inserted into each batch of samples,
amounting to approximately 8% of the run of samples. Samples were analyzed for gold using method Au-AA24
(50 gram), a four -acid digestion fire assay with atomic absorption spectroscopy finish. All ALS Geochemistry
facilities comply with ISO/IEC 17025:2017. For detailed QA/QC refer to news release dated October 24, 2024.
Composite assay grades presented are defined as mineralized intervals using a gold grade minimum average
of 0.10 g/t with no break in mineralization greater than 3.00 m.
Qualified Person
The technical information in this news release has been reviewed and approved by Thomas Poitras, P. Geo.,
Chief Geologist of Scorpio Gold, a "Qualified Person", as defined under National Instrument 43 -101 Standards
of Disclosure for Mineral Projects.
About Scorpio Gold Corp.
Scorpio Gold holds a 100% interest in two past producing mines, the Manhattan Mine and the Mineral Ridge
Mine, both located in the Walker Lane Trend of Nevada, USA. Scorpio Gold's Manhattan District comprises the
advanced exploration-stage Goldwedge Project, with a 400 ton per day gravity mill. Adjacent to Goldwedge is
the ~4,780-hectare Manhattan Project, centered on two past-producing pits, acquired from Kinross in 2021. The
consolidated Manhattan District presents an exciting late -stage exploration oppor tunity, with over 100,000
meters of historical drilling, with significant resource potential, alongside valuable permitting. Scorpio Gold also
holds a 100% interest in the Mineral Ridge gold project located in Esmeralda County, Nevada. Scorpio Gold
produced over 222,440 oz of gold at Mineral Ridge between 2010 and 2020. With a proven and probable
resource, valuable permits, water rights, infrastructure, and the recently acquired adjacent North Star exploration
target, Mineral Ridge has significant near-term development potential.
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ON BEHALF OF THE BOARD OF SCORPIO GOLD CORPORATION
Zayn Kalyan, Chief Executive Officer and Director
Tel: (604) 252-2672
Email: [email protected]
Investor Relations Contact:
Kin Communications Inc.
Tel: (604) 684-6730
Email: [email protected]
Connect with Scorpio Gold:
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To register for investor updates please visit: scorpiogold.com
TSXV: SGN | OTCQB: SRCRF | FSE: RY9
Forward-Looking Statements
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 state ments
that certain events or conditions “may” or “will” occur, and include, without limitation, statements
regarding: the significant potential for a large open pit high-grade gold resource at the Manhattan District;
pending assay results for the phase 1 and 2 drilling program on Manhattan and such results further
increasing the likelihood of continuity of mineralization; hole 24MN-007 further increasing the likelihood
of expansion of the West Pit mineralization; any potential mineral resource estimates on Manhattan; and
efforts focused on amalgamating historical data into a modern database. There is significant risk that the
forward-looking statements will not prove to be accurate, that the management’s assumptions may not
be correct and that actual results may differ materially from such forward -looking statements. 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 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.