Scorpio Gold Drills 3.02 g/t Gold over 48.92 Metres from 118.87 Metres and 1.19 g/t Gold over 99.94 Metres from 98.61 Metres at the Goldwedge Target at Manhattan
Scorpio Gold Drills 3.02 g/t Gold over 48.92
Metres from 118.87 Metres and 1.19 g/t Gold
over 99.94 Metres from 98.61 Metres at the
Goldwedge Target at Manhattan
Highlights
Hole
26MN-115
returned, at Goldwedge:
3.02 g/t gold over 48.92 metres ("m") from 118.87 m
including
19.29 g/t gold over 5.24
m from 151.79 m
within the Zanzibar Formation.
5.14 g/t gold over 10.15 m from 173.58 m,
at the faulted contact of the Zanzibar Formation
and Manhattan Caldera Volcanics.
0.46 g/t gold over 16.70 m from 210.92 m
within the Manhattan Caldera Volcanics
Hole
26MN-118
returned, at Goldwedge:
1.19 g/t gold over 99.94 m from 98.61 m
including
5.13 g/t gold over 4.16 m from 147.82
m
within the Zanzibar Formation.
Hole
26MN-116
returned, along the Zanzibar Trend:
0.93 g/t gold over 22.16 m from 95.71 m
including
3.72 g/t gold over 3.75 m from 98.66
m,
within the Gold Hill Formation.
0.84 g/t gold over 25.05 m from 205.07 m
including
3.63 g/t gold over 3.47 m from
213.33 m,
within the Gold Hill Formation.
Vancouver, British Columbia--(Newsfile Corp. - September 2, 2026) -
Scorpio Gold Corp.
(NASDAQ:
SGLD) (TSXV: SGLD) (OTCQB: SRCRF) (FSE: RY9)
("
Scorpio Gold
", or the "
Company
") is
pleased to announce results from
four drill-holes
of the Phase Two drill program at the Manhattan
District Project ("
Manhattan
"), Nevada, USA: 26MN-113, 26MN-115, 26MN-116, and 26MN-118, see
Figure 1
. The results are tabulated in
Table 1
and discussed below. Scorpio Gold has drilled 114 drill
holes to date from its Phase Two diamond drilling program, 25MN-011 through 25MN-045, 26MN-046
through 26MN-123, for a grand total of
32,585 m
. With the results herein, Scorpio Gold has
reported
assays on 107 of these
(25MN-011 through 25MN-045, 26MN-046 through 26MN-116, and 26MN-
118,
totalling 30,889 m
, and assays are pending from 7 holes (26MN-117 and 26MN-119 through
26MN-123), totalling 1,696 m. The pending results will be reported as they become available.
"Manhattan keeps delivering on the two things that matter most in this market: scale and grade. Hole
26MN-115 — 19 gram per tonne gold over 5 metres contained within 3 grams across 48 metres —
confirms that high grade feeder zones sit within an expanding bulk tonnage envelope. Just as
importantly, every hole at Goldwedge is sharpening our structural understanding of the system: we can
now trace mineralization along the Reliance Fault, from the Zanzibar sediments in its hanging wall
through to the Caldera volcanics at the contact, and that model is directly guiding where we drill next.
Grades like these put a potential underground startup on the table as a nearer-term path to
production, while the broader district — eight and a half kilometres of strike anchored by existing
historic resources — needs modern, systematic drilling to expand toward its true district scale
potential. Few juniors can offer that combination of near-term optionality and district-scale upside, and
we intend to keep advancing both," said Zayn Kalyan, CEO and Director of Scorpio Gold.
Figure 1. Surface Plan Map of drill holes.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/312506_514ab713c4f29aae_002full.jpg
Goldwedge:
Drill holes 26MN-115 and 26MN-118 are both approximately 50 m step-outs along the
projected Reliance Fault from high grade gold intercepted in drill hole 26MN-091, within the Manhattan
Caldera Volcanics. Recent drilling at Goldwedge, including the results herein, has demonstrated
consistently strong mineralization,
especially in the Paleozoic sediments of the Ordovician Zanzibar
Formation, located in the hanging wall of the Reliance Fault. The Reliance Fault is considered one of
many feeders to mineralization. Additionally, recent results have proven that the Manhattan Caldera
Volcanics can likewise host lower grade envelopes around high grade feeder structures, as
demonstrated by the following previously reported intercepts:
1.69 g/t gold over 55.70 m from 118.90 m
(24MN-009)
0.59 g/t gold over 49.23 m from 31.69 m
(26MN-048)
11.84 g/t gold over 8.39 m from 106.21 m
(26MN-075)
1.27 g/t gold over 45.23 m from 137.95 m
(26MN-086)
1.17 g/t gold over 21.58 m from 111.71 m
(26MN-089)
2.04 g/t gold over 11.83 m from 115.67 m
(26MN-091)
1.60 g/t gold over 33.53 m from 6.70 m
(26MN-101)
3.38 g/t gold over 33.31 m from 138.90 m
(26MN-109)
2.05 g/t gold over 97.99 m from 64.16 m
(26MN-110)
The Gap Zone:
The Gap Zone is the previously undrilled area that connects Goldwedge to the Reliance
Trend and ultimately, the historic West Pit. Mineralization is hosted entirely within the meta-sediments of
the Gold Hill Formation and is dominantly controlled by veins and structures related to the steeply dipping
Reliance Fault.
First tested in early 2025,
significant mineralization at the Gap Zone
includes:
1.24 g/t gold over 92.81 m from 3.05 m
(25MN-011)
1.27 g/t gold over 14.75 m from 194.95 m
(25MN-013)
0.80 g/t gold over 33.13 m from 118.38 m
(25MN-017)
0.94 g/t gold over 36.97 m from 162.95 m
(25MN-020)
2.21 g/t gold over 7.38 m from 222.14 m
(25MN-030)
Zanzibar Trend:
The Zanzibar Trend is the previously underexplored area between Mustang Hill and
Goldwedge along the faulted contact of the Paleozoic meta-sediments and the Oligocene aged
volcanics of the Manhattan Caldera.
High grade gold mineralization is encountered along two main
controlling features: sub-vertical structures parallel to the main contact fault, and along gently to
moderately dipping bedding planes primarily in the Cambrian Gold Hill Formation.
Drill hole 26MN-116
steps out approximately 50 m to multiple drill holes along the trend, including 26MN-067, 25MN-045, and
26MN-087
.
The results reported herein add to the
significant mineralization encountered along the
Zanzibar Trend
, including:
3.14 g/t gold over 49.62 m from 59.95 m
(25MN-044)
0.66 g/t gold over 57.64 m from 29.59 m
(25MN-045)
2.10 g/t gold over 22.25 m from 34.14 m
(26MN-063)
2.74 g/t gold over 16.49 m from 45.45 m
(26MN-066)
12.78 g/t gold over 5.91 m from 134.51 m
(26MN-067)
0.69 g/t gold over 23.23 m from 4.05 m
(26MN-070)
2.68 g/t gold over 11.34 m from 0.76 m
(26MN-071)
2.77 g/t gold over 12.68 m from 58.64 m
(26MN-080)
0.98 g/t gold over 23.20 m from 112.13 m
(26MN-114)
Black Mammoth:
Black Mammoth is a ~200+ m step-out from Goldwedge.
Strong gold mineralization
can be found within the Ordovician Zanzibar sediments along structures related to the Black Mammoth
Fault, and on both sides of the major fault defining the contact between the Paleozoic sediments and the
Oligocene aged volcanics of the Manhattan Caldera.
Results at Black Mammoth will be reported as they
become available.
Significant mineralization
includes:
0.75 g/t gold over 24.69 m from 230.12 m
(26MN-053)
1.02 g/t gold over 40.23 m from 195.69 m
(26MN-057)
0.62 g/t gold over 62.21 m from 230.43 m
(26MN-069)
6.04 g/t gold over 4.86 m from 308.23 m
(26MN-072)
0.58 g/t gold over 18.04 m from 311.05 m
(26MN-078)
0.83 g/t gold over 18.01 m from 277.68 m
(26MN-092)
2.56 g/t gold over 13.38 m from 293.28 m
(26MN-096)
All 2026 drill holes tested within and beyond the
Inferred Resource Constraining Pit
(
"IRCP"
),
targeting new mineralization outside of the 2025 MRE block model, see
Figure 2
. For further details see
"Mineral Resource Estimate and NI 43-101 Technical Report, Manhattan Property, Nye County, Nevada"
with an effective date of June 4, 2025, on Scorpio Gold's website at
Technical Report
.
Drill Hole ID
Target
Azimuth / Dip
From (m)
To (m)
Intercept¹ (m)
Gold (g/t)
26MN-115
Goldwedge
118.87
167.79
48.92
3.02
388 m
342° / -45°
including
151.79
157.03
5.24
19.29
173.58
183.73
10.15
5.14
210.92
227.62
16.70
0.46
26MN-116
Zanzibar Trend
95.71
117.87
22.16
0.93
285 m
056° / -50°
including
98.66
102.41
3.75
3.72
166.33
170.38
4.05
0.87
205.07
230.12
25.05
0.84
including
213.33
216.80
3.47
3.63
26MN-118
Goldwedge
59.28
68.88
9.60
0.58
344 m
344° / -62°
98.61
198.55
99.94
1.19
including
126.95
139.75
12.80
1.86
and
147.82
152.00
4.18
5.13
227.38
235.52
8.14
0.25
26MN-113
Moriah
51.79
53.95
2.16
0.35
716 m
135° / -45°
¹ Intervals contain no more than 3 continuous metres grading less than 0.1 g/t gold.
Table 1. Results from the current batch of drill holes.
Note: There is insufficient geological
information to estimate a true width for the drill intercepts reported.
Goldwedge Results:
26MN-115
: This drill hole contains three significant intercepts hosted in both the Ordovician Zanzibar
Formation and the Oligocene Volcanics of the Manhattan Caldera (See cross-section A-A' in
Figure 2
and cross-section B-B' in
Figure 3
).
The gold mineralization is focused into a structurally complex zone
of faulted and brecciated limestones and limey mudstones of the Ordovician Zanzibar Formation on the
hanging wall of the main contact fault separating the Paleozoic sediment package from the Manhattan
Caldera Volcanics (See cross-section B-B' in
Figure 3
). The first and longest interval averages
3.02 g/t
gold over 48.92 m from 118.87 m
and is typical of the Goldwedge area in that it is generally composed
of brecciated Zanzibar limestone and mudstone, with multiple small gouge zones as well as sulfide and
quartz healed breccias that can be well mineralized with gold (See annotated core photos in
Figure 5
).
The Goldwedge target zone is interpreted as a flower structure associated with the dextral strike/slip fault
zone that juxtaposes the Paleozoic sediments of the Zanzibar and Gold Hill Formations against the much
younger volcanic rocks of the Manhattan Caldera.
This allows for many fluid pathways to the surface,
resulting in high grade intercepts along the individual fault planes, enveloped by moderate grades in the
surrounding breccia (See cross-section B-B' in
Figure 3
).
The second interval averages
5.14 g/t gold
over 10.15 m from 173.58 m
and represents the main fault structure.
Lenses of multiple rock types are
entrained within the fault damage zone, including limestones and mudstones of the Zanzibar Formation,
as well as ash tuff and lapilli tuff from the Manhattan Caldera volcanics.
The third intercept lies entirely
within the Manhattan Caldera Volcanics and averages
0.46 g/t gold over 16.70 m from 210.92 m
downhole.
This interval is structurally continuous with the neighboring drillhole 26MN-091 which
contained 6.95 g/t gold over 11.98 m (see
press release
dated June 9, 2026) and represents a
secondary structure running parallel to the main fault zone.
26MN-118:
Drillhole 26MN-118 contains three notable gold intercepts hosted in both the Paleozoic
meta-sediments of the Zanzibar and Gold Hill Formations, as well as the Volcanics of the Manhattan
Caldera.
The geology of this drillhole is very similar to the neighboring drillhole 26MN-115 discussed
above, encountering the complex upward flaring structures that cut through the Goldwedge zone proximal
to the main fault separating the sedimentary rocks southwest of the fault from the volcanic rocks to the
northeast (
Figure 3 and Figure 4)
.
The first significant gold mineralization encountered in this drillhole
averages
0.58 g/t gold over 9.60 m from 59.28 m
with the highest grades in this interval being found in
gouge zones in otherwise brecciated limestones and mudstones of the Ordovician Zanzibar Formation.
The second interval is the most continuous and averages
1.19 g/t gold over 99.94 m from 98.61 m
within brecciated limestones and mudstones of the Zanzibar formation, as well as altered siliciclastic
sediments of the Cambrian Gold Hill Formation.
Near the bottom of the interval there are clasts of
Oligocene aged volcanics that have been entrained in the larger structural zone from the footwall country
rock of the Manhattan Caldera.
Throughout the interval, discrete structural zones are defined by stronger
alteration and gouge, as well as elevated gold grades.
In some cases, the breccias have been fully
healed by a quartz/sulfide matrix and can contain high grade gold values (
Figure 6).
The final notable
intercept occurs fully within the volcanic rocks of the Manhattan Caldera, along a subsidiary structure that
is sub-parallel to the main contact fault.
It averages
0.25 g/t gold over 8.14 m from 227.38 m
downhole
and appears to be continuous with both drillhole 26MN-115 and other neighboring drillholes at
approximately 50m step outs from each other.
Figure 2. Cross-section A-A', showing gold grades with reported intervals highlighted.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/312506_514ab713c4f29aae_003full.jpg
Figure 3. Cross-section B-B', showing gold grades with reported intervals highlighted and
schematic of flower structure interpretation.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/312506_514ab713c4f29aae_004full.jpg
Figure 4. Plan view of Goldwedge target area and interpreted geology.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/312506_514ab713c4f29aae_005full.jpg
Figure 5. Drill hole 26MN-115, interval 151.79 m to 158.50 m, displaying brecciated and altered
meta-mudstones locally healed by quartz/adularia and fine-grained sulfide matrix.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/312506_514ab713c4f29aae_006full.jpg
Figure 6. Drill hole 26MN-118, interval 178.00 m to 184.65 m, displaying brecciated and altered
meta-mudstones and marbles locally healed by quartz/adularia and fine-grained sulfide matrix.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9779/312506_514ab713c4f29aae_007full.jpg
Zanzibar Trend Results:
26MN-116
: This drill hole contains three significant gold intercepts, all hosted within the Cambrian Gold
Hill Formation. The first interval contained an average grade of
0.93 g/t gold over 22.16 m m from
95.71 m
downhole.
It is a hosted within alternating beds of meta-mudstones and dolomitic marbles
crosscut by small scale structures that typically have moderate clay alteration along them.
Proximal to the
clay altered zones the host rocks are strongly silicified, containing dissolution vugs as well as drusy
epithermal quartz veins.
The second notable interval in this drillhole contained an average grade of
0.87
g/t gold over 4.05 m from 166.33 m
downhole, and is geologically similar to the first intercept.
The third
significant intercept in drillhole 26MN-116 contained an average of
0.84 g/t gold over 25.05 m from
205.07 m
and is notable for containing the same characteristics as the first two intercepts, with the