Scorpio Gold’s Phase II Drilling Program Encounters Significant Intercepts; 16.80 meters Grading 27.16 g/t Au, Including 3.1 meters grading 145.74 g/t Au
TSXV:SGN
Unit 1–15782 Marine Drive
White Rock, BC, V4B 1E6
T: (604) 536-2711
www.scorpiogold.com
News Release No. 328
Scorpio Gold’s Phase II Drilling Program Encounters Significant Intercepts;
16.80 meters Grading 27.16 g/t Au, Including 3.1 meters grading 145.74 g/t Au
Vancouver, May 12, 2022 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSXV: SGN)
is pleased to announce the commencement of a phase II reverse circulation (RC) drilling program at its
Goldwedge property located in Manhattan, Nevada.
Boart Longyear was selected to conduct the RC drilling program which commenced on March 29, 2022.
The planned program consists of 59 RC drill holes with a total of 10,800m and drilling is expected to
continue for the next 6-7 months. The program was designed around results encountered in the 2021 Phase
I program. The target areas are situated around the Manhattan West and East pits, and between the
Goldwedge underground and the open pits. The proposed drill holes on section will be targeting the lateral
extent and continuity of the mineralization trending toward NW strike direction of the West Pit. The drilling
will also be used to confirm the underground continuity potential in down dip direction of the Reliance
Fault zone which is host to high -grade gold mineralization targets. Additional prospective areas expected
to be tested during this campaign of drilling, include the SE continuity of the mineralization structure from
the West Pit towards East Pit area and identified new parallel structures at both NE and SW sections of
West Pit.
Additional planning to confirm structural continuity for some areas with a diamond drill holes (DDH) have
been designed and consist of 33 holes with total of 7400m of core drilling.
A total of 12 RC drill holes have been completed to date , which represents 22% (2,350 m) of the planned
RC drill program.
Table 1: Manhattan Mine Drilling – Significant Results for completed Phase II drill holes
Hole ID Azm
(deg)
Dip
(deg)
From
(ft)
To
(ft)
Width
(ft)
Gold
(oz/T)
From
(m)
To
(m)
Width
(m)
Gold
(g/t)
West Pit Area
MWRC22-001 236.3 -73.1 340.0 345.0 5.0 0.021 103.7 105.2 1.5 0.72
415.0 430.0 15.0 0.026 126.6 131.2 4.6 0.89
695.0 700.0 5.0 0.035 212.0 213.5 1.5 1.20
MWRC22-002 238.4 -70.3 50.0 55.0 5.0 0.020 15.3 16.8 1.5 0.69
105.0 125.0 20.0 0.085 32.0 38.1 6.1 2.92
270.0 305.0 35.0 0.025 82.4 93.0 10.7 0.85
370.0 380.0 10.0 0.023 112.9 115.9 3.1 0.79
565.0 580.0 15.0 0.052 172.3 176.9 4.6 1.78
650.0 655.0 5.0 0.072 198.3 199.8 1.5 2.47
680.0 685.0 5.0 0.030 207.4 208.9 1.5 1.03
MWRC22-003 238.1 -62.0 15.0 20.0 5.0 0.064 4.6 6.1 1.5 2.20
160.0 175.0 15.0 0.896 48.8 53.4 4.6 30.72
Including 160.0 165.0 5.0 1.528 48.8 50.3 1.5 52.42
195.0 250.0 55.0 0.792 59.5 76.3 16.8 27.16
Including 195.0 205.0 10.0 4.249 59.5 62.5 3.1 145.74
265.0 320.0 55.0 0.062 80.8 97.6 16.8 2.12
Including 290.0 295.0 5.0 0.271 88.5 90.0 1.5 9.30
Scorpio Gold Corporation | 2
*Analytical results were by FA/Gravimetric finish procedure by Scorpio Gold’s in -house analytical laboratory, which does not have ISO/IEC
17025 accreditation but implements a quality management system compatible with the ISO/IEC 17025 standards and maintains a pa perwork trail
suitable for future ISO/IEC 17025 accreditation. Duplicate samples were taken at the drill rig, s amples with significant results >= 0.020oz/t are
available to be sent to an external lab to certify all results. Further details of the Company’s quality assurance and quality control program for the
Goldwedge project are available at: GW QAQC.
Phase II drilling at the West pit area confirms strong mineralization trends with high -grade interceptions
along the northwestern and southwestern sections. Highlights of the significant intercepts are as follows:
• MWRC22-003 – intercepted 27.16g/t over 16.8m including 145.74g/t over 3.1m from 59.5m along
the drill hole depth. Additional intercepts contain 2.12g/t over 16.8m including 9.3m over 1.5m
from 80.8m depth along the drill hole.
• MWRC22-008 – intercepted 4.52g/t over 4.6m from 147.9m along the drill hole depth and
9.36g/t over 1.5m from 115.9m depth along the drill hole.
Hole ID Azm
(deg)
Dip
(deg)
From
(ft)
To
(ft)
Width
(ft)
Gold
(oz/T)
From
(m)
To
(m)
Width
(m)
Gold
(g/t)
375.0 380.0 5.0 0.037 114.4 115.9 1.5 1.27
395.0 400.0 5.0 0.087 120.5 122.0 1.5 2.97
565.0 570.0 5.0 0.020 172.3 173.9 1.5 0.69
595.0 600.0 5.0 0.031 181.5 183.0 1.5 1.06
MWRC22-004 57.3 -50.3 70.0 75.0 5.0 0.032 21.4 22.9 1.5 1.10
255.0 275.0 20.0 0.142 77.8 83.9 6.1 4.85
Including 255.0 265.0 10.0 0.251 77.8 80.8 3.1 8.59
MWRC22-005 41.0 -55.2 175.0 185.0 10.0 0.091 53.4 56.4 3.1 3.10
275.0 285.0 10.0 0.034 83.9 86.9 3.1 1.15
440.0 460.0 20.0 0.160 134.2 140.3 6.1 5.48
480.0 485.0 5.0 0.062 146.4 147.9 1.5 2.13
MWRC22-006 60.9 -62.6 235.0 245.0 10.0 0.025 71.7 74.7 3.1 0.84
405.0 410.0 5.0 0.041 123.5 125.1 1.5 1.39
MWRC22-007 24.8 -60.1 10.0 15.0 5.0 0.121 3.1 4.6 1.5 4.15
505.0 510.0 5.0 0.023 154.0 155.6 1.5 0.79
MWRC22-008 40.3 -59.8 5.0 10.0 5.0 0.022 1.5 3.1 1.5 0.75
220.0 225.0 5.0 0.097 67.1 68.6 1.5 3.33
380.0 385.0 5.0 0.273 115.9 117.4 1.5 9.36
485.0 500.0 15.0 0.132 147.9 152.5 4.6 4.52
Including 495.0 500.0 5.0 0.265 151.0 152.5 1.5 9.09
MWRC22-009 42.3 -55.4 0.0 20.0 20.0 0.036 0 6.1 6.1 1.24
60.0 70.0 10.0 0.134 18.3 21.4 3.1 4.60
245.0 250.0 5.0 0.046 74.7 76.3 1.5 1.58
MWRC22-010 51.0 -60.5 5.0 20.0 15.0 0.020 1.5 6.1 4.6 0.69
180.0 185.0 5.0 0.032 54.9 56.4 1.5 1.10
200.0 205.0 5.0 0.045 61.0 62.5 1.5 1.54
235.0 265.0 30.0 0.034 71.7 80.8 9.2 1.17
440.0 485.0 45.0 0.349 134.2 147.9 13.7 11.98
Including 445.0 455.0 10.0 1.150 135.7 138.8 3.1 39.43
MWRC22-011 40.2 -61.2 90.0 95.0 5.0 0.020 27.5 29.0 1.5 0.69
135.0 140.0 5.0 0.126 41.2 42.7 1.5 4.32
160.0 165.0 5.0 0.776 48.8 50.3 1.5 26.62
MWRC22-012 39.0 -61.3 40.0 70.0 30.0 0.019 12.2 21.4 9.2 0.66
90.0 115.0 25.0 0.112 27.5 35.1 7.6 3.85
325.0 335.0 10.0 0.298 99.1 102.2 3.1 10.22
355.0 360.0 5.0 0.083 108.3 109.8 1.5 2.85
390.0 395.0 5.0 0.100 119.0 120.5 1.5 3.43
Scorpio Gold Corporation | 3
• MWRC22-010 – intercepted 11.98g/t over 13.7m including 39.43g/t over 3.1m from 134.2m
along the drill hole depth. Additional intercepts contain 1.17g/t over 9.2m from 71.7m depth
along the drill hole.
• MWRC22-011 – intercepted 26.62g/t over 1.5m from 48.8m along the drill hole depth.
Details of all assay results for completed drill holes reported in Table 1 above and locations
depicted on Figure 1 below.
Figure 1: Completed Drill locations (blue dots) for Phase II Program showing significant grade intercepts
at the Northwest and Southwest of the West Pit.
MWRC22-008
Incl. [email protected]/t
MWRC22-009
MWRC22-010
Inc l. [email protected]/ t
MWRC22-011
MWRC22-003
Incl. [email protected]/t
Incl. [email protected]/t
Incl. [email protected]/t
MWRC22-004
MWRC22-005
MWRC22-006
MWRC22-001
MWRC22-002
MWRC22-007
MWRC22-012
USD
Pit
Crescent
Area
Scorpio Gold Corporation | 4
Gold mineralization at northwestern section of the West Pit have been identified within two different trends
which are structurally controlled by the Brugher Cross fault striking in the NE-SW direction. Mineralization
intercepted in MWRC22- 003 are strongly associated with ‘West Pit Main Trend ’ (Figure 1) which is
predominantly drusy quartz-adularia veins occurring with coatings on fracture surfaces and oxidized Fe -
stained pyrite within the Gold Hill Quartzite ±Phyllite units . This trend may be trending parallel to the
Reliance Fault Zone (shear zone) which is host to high-grade mineralization.
Other mineralization trends were identified at the southwestern section of the West Pit during the drilling
campaign which are presumably parallel structures striking in the NW-SE direction. Drill holes MWRC22-
008 and MWRC22- 009 located further most to the southwest intercept ed mineralization structure
anticipated to be a separate structure related to the ‘Thrust Fault Trend’ (Refer to Figure 1). The holes were
predominantly drilled within the Gold Hill Formation and mineralization consists of fine disseminated
pyrite, and minor quartz -pyrite veins with Fe staining and generally confined within the fault zone . Drill
hole data reviewed indicated that no historical drilling has been conducted to confirm the continuity of the
trend, so this opens a new prospective area for exploration in both NW and SE direction of the structure.
About Scorpio Gold
Scorpio Gold now holds a 100% interest in the consolidated Manhattan District in Nevada comprising 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.
Scorpio Gold also holds 100% interest in the Mineral Ridge gold project located in Esmeralda County,
Nevada.
The technical information contained within this release has been reviewed and approved by independent
geological consultant, Peter Hawley, B. Eng., BSc., P.Geo., a Qualified Person as defined by NI 43-101.
ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION
Chris Zerga
CEO & Director
For further information contact:
Chris Zerga, CEO & President
Email: [email protected]
Diane Zerga, General Manager
Tel: (775) 401-1637
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 exploration of i ts Manhattan Mine property. Such forward-looking statements involve
USD
USD East Pit
Scorpio Gold Corporation | 5
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 a guarantee of future performance and
accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.