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Scorpio Gold Corporation (SGN.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.12000.0000 (0.00%)
At close: 3:58PM EDT
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Previous Close0.1200
Open0.1200
Bid0.1150 x 0
Ask0.1200 x 0
Day's Range0.1200 - 0.1200
52 Week Range0.0700 - 0.2200
Volume214,000
Avg. Volume126,296
Market Cap13.422M
Beta (5Y Monthly)2.10
PE Ratio (TTM)N/A
EPS (TTM)-0.1030
Earnings DateNov. 28, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est0.56
  • Scorpio Gold Reports 9.02 g/t Gold over 7.4 meters from Ongoing Underground Drilling at Goldwedge, Nevada
    GlobeNewswire

    Scorpio Gold Reports 9.02 g/t Gold over 7.4 meters from Ongoing Underground Drilling at Goldwedge, Nevada

    Figure 1 Underground drilling targeting continuity of mineralization in 2020 drill hole GWUG20-001. Figure 2 Plan view showing zones of significant intercepts for GWUG21-004, 004A, 005, 005A and 006. Figure 3 Cross section showing zones of significant intercepts for GWUG21-004, 004A, 005, 005A and 006. VANCOUVER, British Columbia, April 13, 2021 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSXV: SGN) is pleased to announce results from the first 3 holes of its underground drilling program at the 100% owned Goldwedge property, located in Nevada. The current program is focused on defining the on-strike and down-dip continuity of mineralization intersected in the 2020 drilling (July 27, 2020 news release) as well as testing new areas with the potential to define a mineral resource base. Results to date indicate the extension of mineralization southward, hosted within sheared, metamorphosed, interbedded limestones and argillites with quartz, and calcite veining. Highlights include 7.4 meters grading 9.02 g/t, 5.3 meters grading 5.11 g/t and 2.7 meters grading 9.19 g/t (Table 1), situated in an area with an average depth from topographic surface of 25 m. Drilling is currently ongoing at the northern section to test mineralization continuity in that strike direction. The planned footage for this drilling program is 6,772 ft with 1,217 ft (18%) completed to date. Table 1: 2021 Goldwedge Underground Drilling – Significant Results to Date Hole IDAzm (deg)Dip (deg)From(ft)To(ft)Width(ft)From(m)To(m)Width(m)Gold(oz/t)Gold(g/t)GWUG20-004A253-1710.515.85.33.24.81.60.38113.06incl. 14.815.71.14.54.80.31.49451.22GWUG20-004A253-1725.549.924.47.815.27.40.2639.02GWUG20-004A253-1770.271.21.021.421.70.30.2448.37GWUG21-005253-720.029.09.06.18.82.70.2689.19incl. 23.927.63.57.38.41.10.62821.53GWUG21-005A253-1010.515.44.93.24.71.50.1033.53GWUG21-005A253-102037.517.56.111.45.30.1495.11GWUG21-005A253-1044.948.03.113.714.60.90.43314.85GWUG21-006*247-1719.022.53.55.86.91.12.44383.76GWUG21-006*247-1737.542.55.011.413.01.50.42614.61 All holes presented in Table 1 were completed by NQ size diamond (core) drilling. Widths are presented as down hole core lengths; true widths are unknown at this time. Analytical results for holes 004, 004A and 005A were performed by American Assay Laboratory Inc. (AAL) in Sparks, Nevada, an ISO/IEC 17025:2005 accredited facility. Results for drillhole GWUG21-006* are from Scorpio Gold’s in-house analytical laboratory (by FAAA procedure), which does not have ISO/IEC 17025 accreditation but implements a quality management system compatible with the ISO/IEC 17025 standards and maintains a paperwork and LIMS trail suitable for future ISO/IEC 17025 accreditation. Certified assay results for GWUG21-006* from AAL are pending. Further details are presented in the Company’s quality assurance and quality control program for the Goldwedge project available at: GW QAQC. As part of tracking sample recoveries, especially within shear and clay zones that usually wash out as fines during drilling, the drill cuttings (sludge) were collected for every 10 ft run and analysed for gold by FAAA procedure in Scorpio Gold’s in-house analytical laboratory (Table 2). Duplicate samples have been submitted to AAL to confirm the results. The Company will release the AAL results along with the comparison from in-house lab results upon receipt. Sample widths in Table 2 represent downhole core lengths; true widths are currently unknown. Table 2: 2021 Goldwedge Underground Drilling – Results of Sludge Sampling HoleIDCoreRecoveryFrom(ft)To(ft)Width(ft)From(m)To(m)Width(m)Average Gold (oz/t)AverageGold (g/t)GWUG21-004A82%020200.06.16.10.1083.70GWUG21-00587%045450.013.713.70.2819.63GWUG21-005A92%050500.015.215.20.2337.99GWUG21-00689%060600.018.318.30.81527.94GWUG21-00689%801002024.430.56.10.56019.20 Figure 1: Underground drilling targeting continuity of mineralization in 2020 drill hole GWUG20-001 -https://www.globenewswire.com/NewsRoom/AttachmentNg/5d0ad709-1a87-4b63-aba5-f44a54647feb Figure 2: Plan view showing zones of significant intercepts for GWUG21-004, 004A, 005, 005A and 006 -https://www.globenewswire.com/NewsRoom/AttachmentNg/c4c0f34e-73e4-43f7-8cb2-4dabaf3a8f63 Figure 3: Cross section showing zones of significant intercepts for GWUG21-004, 004A, 005, 005A and 006 - https://www.globenewswire.com/NewsRoom/AttachmentNg/a4d3e77f-3b43-4c58-87ac-c88da9bbb2b3 Director Retires Peter Tegart has retired from the Board of Directors of Scorpio Gold. The Company is grateful for his contributions to the Company during his tenure. About Scorpio GoldScorpio 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 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 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 BOARDSCORPIO GOLD CORPORATIONBrian Lock, CEO & DirectorFor further information contact: Brian Lock, CEOTel: (604) 889-2543Email: block@scorpiogold.com Diane Zerga, General ManagerTel: (775) 401-1637Email: dzerga@scorpiogold.com Anthony Simone, Investor RelationsTel: (416) 881-5154Email: ir@scorpiogold.com 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 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 a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.

  • Scorpio Gold Closes Purchase of Kinross Manhattan Property, Nye County, Nevada
    GlobeNewswire

    Scorpio Gold Closes Purchase of Kinross Manhattan Property, Nye County, Nevada

    Figure 1 Aerial view of the Manhattan Property showing East & West pits and Goldwedge facility) Figure 2 Significant historic drill hole intercepts for mined-out and unmined areas at the Manhattan project with assay cut-off of ≥0.05 oz/t. Figure 3 Long section (A-A’- facing NE) indicating the continuity and trend of mineralization to the north and below the current asbuilt pitshell. Figure 4 2008 preliminary block model showing areas of potential exploration below the current asbuilt pitshell. All block grades ≥ 0.015 oz/t. VANCOUVER, British Columbia, March 25, 2021 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSXV: SGN) is pleased to announce the purchase from affiliates of Kinross Gold Corporation (the “Sellers”) of the 4,300-acre (1,740-hectare) Kinross Manhattan Property located adjacent and proximal to the Company’s Goldwedge property in Nye County, Nevada. Scorpio Gold now controls 6,071 acres (2,457 hectares) around the Goldwedge facility, providing the opportunity to expand surface operations and the potential for expanding underground mining and exploration. The acquisition also consolidates a large land position along the Reliance Fault Zone, which has significant exploration potential for high-grade gold targets at the intersections of the Reliance structure and ring faulting related to the Manhattan Caldera. Figure 1: Aerial view of the Manhattan Property showing East & West pits and Goldwedge facility)https://www.globenewswire.com/NewsRoom/AttachmentNg/718c848c-115a-4f00-b576-3d82755c0d70 The Manhattan Property is located within the Manhattan Mining District and centered ~17 km south of the +15 million oz. Kinross Round Mountain Mine. It adjoins the southwest boundary of Scorpio Gold’s Goldwedge property and includes 2 former producing mines. The Reliance Mine, located within 600 metres of the Goldwedge deposit, reportedly produced ~59,000 tons grading 0.435 oz/ton from 1932 to 1941. The Manhattan Mine East and West pits situated 600-1,000 meters southwest of Goldwedge produced ~236,000 oz. from 1974-1990. The deposits lie along the northwest-trending Reliance Fault Zone, which is considered the most predominant ore controlling structure in the region. The Reliance trend continues 4 km southeast to Scorpio Gold’s Keystone-Jumbo project area. Within the Manhattan West Pit, the northwest-trending structures controlling mineralization are referred to as the “Little Gray Fault”. Exploration work by various operators since production ended at the Manhattan Mine in 1990 has outlined the potential continuity of mineralization to the north of the West Pit toward the Goldwedge deposit as well as the potential extension of mineralization to the north and south of the East Pit (Figures 2 and 3). Figure 2. Significant historic drill hole intercepts for mined-out and unmined areas at the Manhattan project with assay cut-off of ≥0.05 oz/t.https://www.globenewswire.com/NewsRoom/AttachmentNg/dec3884e-0f1a-47d6-96a5-2b1407d17ff4 Figure 3. Long section (A-A’- facing NE) indicating the continuity and trend of mineralization to the north and below the current asbuilt pitshell.https://www.globenewswire.com/NewsRoom/AttachmentNg/d2ec8825-42c0-4aff-8523-399eb130e495 Past operators have undertaken block modelling of the mineralization and completed in-house preliminary mineral resource estimates for the area encompassing the Manhattan East and West pits. None of the resource estimates are compliant with NI 43-101 guidelines. The most recent study was prepared by Lynn Canyon Geological as part of an internal review for Kinross in 2008. The preliminary estimate utilizes various cut-off grades (“COG”) and classifies the resources into Indicated and Inferred categories (Table 1). The resource classification was based on average distance to samples and the number of composites used for the estimation of the blocks. Indicated resources were assigned to a block if the average distance to sample was less than 125 feet (38.1 metres) and at least 3 composites were used. All other blocks estimated within these domains are considered Inferred. (Ref: Remaining Resources and Exploration Potential Manhattan Mine Property Nye County, Nevada; prepared for Round Mountain Gold Corp. by Registered Geologist, Russ White, dated March 31, 2008). Scorpio Gold considers the historical resource estimate as relevant but has yet to conduct sufficient work to verify the resource estimate and is not treating the estimate as a current resource. Infill drilling to verify and potentially upgrade the resource is planned as well as step-out exploration drilling along the structural trends. Figure 4. 2008 preliminary block model showing areas of potential exploration below the current asbuilt pitshell. All block grades ≥ 0.015 oz/t.https://www.globenewswire.com/NewsRoom/AttachmentNg/6a570ded-f72a-4636-89a9-2b515507e765 Table 1: Kinross Historical Mineral Resource Estimate from 2008 Block Model COG (oz/t)IndicatedInferredTonsAu (oz/t)Ounces (oz)TonsAu (oz/t)Ounces (oz)0.00611,846,6200.020242,7095,513,1530.023128,5140.0108,589,5990.025218,4234,292,0220.028119,5810.0155,692,0870.032184,0983,206,4520.033106,5890.0203,903,7560.039154,0682,441,9990.03893,7850.0252,759,8480.047129,1361,827,8560.04480,2640.0302,040,1680.054109,8221,420,6930.04969,3410.0351,537,9150.06193,8571,124,6280.05359,921 Note: Technical information in relation to these estimates has not been verified by a qualified person and there has been insufficient work to classify the historical estimate as a current resource. Scorpio Gold is not treating this historical estimate as a current resource. Transaction Consideration of US$100,000 and the issue of 2,091,149 common shares being the equivalent value of US$150,000 on July 20, 2020. The Manhattan Property will be subject to a total 2% net smelter returns royalty. In addition, to being subject to certain reserved water rights and other permitted encumbrances as defined in the agreement. The Sellers will also provide copies of all non-interpretive geologic data, mining records and land status information and any drill core samples relating to the Manhattan Property that the Sellers own or control. In addition, the Company has arranged for substitute surety arrangements in a form acceptable to each of the government authorities in the amount of US$191,188. 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 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 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 BOARDSCORPIO GOLD CORPORATION Brian Lock, CEO & Director For further information contact: Brian Lock, CEOTel: (604) 889-2543Email: block@scorpiogold.com Diane Zerga, General ManagerTel: (775) 401-1637Email: dzerga@scorpiogold.com Anthony Simone, Investor RelationsTel: (416) 881-5154Email: ir@scorpiogold.com 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 its Goldwedge and Manhattan projects. 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 a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.

  • Scorpio Gold Obtains US Government Approval for the Purchase of Kinross Properties in Manhattan, Nevada
    GlobeNewswire

    Scorpio Gold Obtains US Government Approval for the Purchase of Kinross Properties in Manhattan, Nevada

    Figure 1 Aerial view of the Manhattan Property (Kinross pits and Goldwedge facility) Figure 2 Map showing detailed geology and A – A’ cross-section line. Figure 3 Cross-section A – A’ showing indicated, inferred resources and potential (Re: Manhattan Divestment Proposal document – Kinross Gold Corp. October 21, 2016). The resource calculations are internal and have not been verified by an independent qualified person according to NI 43-101 guidelines. Figure 4 Airborne magnetic survey data (Re: Manhattan Divestment Proposal document – Kinross Gold Corp. October 21, 2016). The magnetic anomalies display the probable structural trends of the mineralized sheared metamorphosed interbedded limestones, argillites and phyllites of late Cambrian age. VANCOUVER, British Columbia, March 04, 2021 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSXV: SGN) has received approval from the Committee on Foreign Investment in the United States (“CFIUS”) for the purchase of the Kinross Manhattan Property by Scorpio Gold from subsidiaries of Kinross Gold Corporation (the “Sellers”). CFIUS has determined that there are no unresolved national security concerns with respect to the purchase. The Manhattan project is located in Nye County, Nevada situated adjacent and proximal to Scorpio Gold’s Goldwedge property (see October 14, 2020 news release). This acquisition of 4,300 acres combined with the Company’s Goldwedge 1,771 acres gives Scorpio Gold complete land control of 6,071 acres around the Goldwedge facility, providing the opportunity to expand surface operations and the potential for expanding underground mining and exploration. It also consolidates a large land position along the Reliance Fault Zone, which has significant exploration potential for high-grade gold targets at the intersections of the Reliance structure and ring faulting related to the Manhattan Caldera. The Manhattan Property is comprised of 21 patented claims and 217 unpatented claims situated adjacent and proximal to the Company’s Goldwedge property. The Manhattan Property is located within the Manhattan Mining District and centered ~17 km south of the +15 million oz. Kinross Round Mountain Mine. It adjoins the southwest boundary of Scorpio Gold’s Goldwedge property and includes 2 former producing mines. The Reliance Mine, located within 600 metres of the Goldwedge deposit, reportedly produced ~59,000 tons grading 0.435 oz/ton from 1932 to 1941. The Manhattan Mine East and West pits situated 600-1,000 meters southwest of Goldwedge produced ~236,000 oz. from 1974-1990. The deposits lie along the northwest-trending Reliance Fault Zone, which is considered the most predominant ore controlling structure in the region. The Reliance trend continues 4 km southeast to the Goldwedge deposit’s Keystone-Jumbo project area. Considerable exploration work has been conducted by various operators since production ended at the Manhattan Mine in 1990. The consolidation of a large land package that includes the Goldwedge, Reliance and Manhattan mines provides an exceptional exploration opportunity for the Company. Transaction Consideration of US$100,000 and the issue of the equivalent value of US$150,000 common shares will be paid/issued to the Sellers at closing after all the closing conditions have been met or waived. Upon closing, the Manhattan Property will be subject to a total 2% net smelter returns royalty. In addition, the Manhattan Property will be subject to certain reserved water rights and other permitted encumbrances as defined in the agreement. The Sellers will also provide copies of all non-interpretive geologic data, mining records and land status information and any drill core samples relating to the Manhattan Property that the Sellers own or control. In addition, the Company has arranged for substitute surety arrangements in a form acceptable to each of the government authorities in the amount of US$191,188. The agreement is expected to close shortly upon receipt of the approval of the TSX Venture Exchange and completion of the final conditions to closing. About Scorpio GoldScorpio 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 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 BOARDSCORPIO GOLD CORPORATIONBrian Lock, CEO & DirectorFor further information contact: Brian Lock, CEOTel: (604) 889-2543Email: block@scorpiogold.com Diane Zerga, General ManagerTel: (775) 401-1637Email: dzerga@scorpiogold.com Anthony Simone, Investor RelationsTel: (416) 881-5154Email: ir@scorpiogold.com 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 its Goldwedge and Manhattan projects. 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. Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a265f5ed-5a34-4093-926b-b4eebdbfe8c0 https://www.globenewswire.com/NewsRoom/AttachmentNg/d4d784c6-68d7-456c-a2a3-7375a587f00f https://www.globenewswire.com/NewsRoom/AttachmentNg/94c8dc95-e904-42d9-a8b0-69bc116add8c https://www.globenewswire.com/NewsRoom/AttachmentNg/e6107910-56c4-431a-8a4f-fcc7916226b7