Scorpio Gold’s 2017 Phase I Drilling Encounters High-Grade Gold Proximal to Underground Mine Workings at the Goldwedge Project, Nevada
TSX-V: SGN
1462 de la Quebecoise
Val-d’Or, QC, J9P 5H4
T: 819- 825-7618
www.scorpiogold.com
News Release No. 242
Scorpio Gold’s 2017 Phase I Drilling Encounters High-Grade Gold Proximal
to Underground Mine Workings at the Goldwedge Project, Nevada
Vancouver, July 27, 2017 - Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN)
is pleased to report final results from its 2017 Phase I exploration drilling program at the Goldwedge project,
located in Manhattan Nevada.
The drill program was designed to target the extension of the favorable lithologic unit in the Goldwedge
Mine, specifically the Zanzibar limestone bound within the Reliance Fault Zon e. This zone plunges
northward into the Manhattan caldera margin. Seven RC holes totaling 7,530 ft (2,295 m) were drilled from
5 pad locations.
Significant mineralization was encountered in 3 of the holes (GW17024, GW17026 and GW 17029) that
intercepted the targeted Zanzibar limestone within the Reliance Fault Zone. GW17029 targeted an area near
elevated underground rib samples west of the Reliance Fault Zone , and intersected significant
mineralization within 65 feet of the mineralized rib and above the lowest working underground level.
Table 1. 2017 Goldwedge Surface RC Drilling - Significant Results (>0.1 oz/t)
Hole
No.
Azm
(deg)
Dip
(deg)
From
(ft)
To
(ft)
Width
(ft)
From
(m)
To
(m)
Width
(m)
Gold
(oz/t)
Gold
(g/t)
GW17024 192 90 725 730 5 221.00 222.50 1.52 0.274 9.39
GW17026 225 55 460 470 10 140.21 143.26 3.05 0.324 11.11
GW17029 040 55 265 280 15 80.77 85.34 4.57 0.325 11.14
620 625 5 188.98 190.50 1.52 0.157 5.38
Three of the 7 holes (GW17027, GW17028, and GW17030 ) deviated and stayed in the Tertiary volcanic
rock and did not drill the intended target. A fourth hole (GW17025) was drilled to intercept the Zanzibar
limestone outside of the Reliance Fault Zone. No significant mineralization was encountered in these four
holes.
Map Links:
Drill Hole Plan
Drill Hole Cross Section
All holes presented in Table 1 were completed by reverse circulation (“RC”) drilling. Widths are presented
as down hole lengths; true widths are unknown at this time. Analytical results were performed by ALS
Minerals in Reno, Nevada, an ISO/IEC 17025:2005 accredited facility. Further details are presented in the
Company’s quality assurance and quality control program for the Goldwedge project available at: GW
QAQC.
Scorpio Gold Corporation 2
About Scorpio Gold
Scorpio Gold holds a 70% interest in the producing Mineral Ridge gold mining operation located in
Esmeralda County, Nevada with joint venture partner Elevon, LLC (30%). Mineral Ridge is a conventional
open pit mining and heap leach operation. The Mineral R idge property is host to multiple gold -bearing
structures, veins and lenses at exploration, development and production stages. Scorpio Gold also holds a
100% interest in the advanced exploration -stage Goldwedge property in Manhattan, Nevada, with a fully
permitted underground mine and 400 ton per day mill facility. The Goldwedge mill facility has been placed
on a care and maintenance basis and can be restarted immediately when needed.
Scorpio Gold’s Chairman, 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
Brian Lock,
Interim CEO
For further information contact:
Chris Zerga, President
Tel: (819) 825-7618
Email: [email protected]
Investor Relations:
Jag Sandhu, JNS Capital Corp.
Tel: (778) 218-9638
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 sim ilar
words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements rega rding
the Company’s plans with respect to the exploration, development and exploitation of 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 and development 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.