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Message: Scorpio Gold's Exploration Drilling Expands Mineralization ....
Scorpio Gold's Exploration Drilling Expands Mineralization from Open Pit Areas at the Mineral Ridge Gold Deposit, Nevada
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Press Release Source: Scorpio Gold Corporation On Tuesday April 12, 2011, 8:30 am EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 12, 2011) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN - News) announces initial drill results from 2011 reverse circulation (RC) exploration and definition drilling in the Drinkwater, Mary North and Mary LC areas of the Mineral Ridge gold deposit, Nevada.
Peter J. Hawley, President & CEO reports, "The initial 2011 exploration drilling has been successful in expanding the known mineralization beyond the existing open pit areas. For example, results to date for the Mary North area report mineralization extending to over 300 metres beyond the existing pit wall. These results demonstrate the widespread nature of mineralization that hosts the Mineral Ridge deposit, and the opportunity for Scorpio Gold to significantly expand the mineral resource base. The Company will continue to release results as they are received and compiled."
Results presented in Tables 1-4 are part of the Phase I drilling that is designed to expand and upgrade the existing mineral resource estimate in the vicinity of the existing pits scheduled for mining this year (see February 2, 2011 news release). Condemnation drilling is also underway to verify sterile areas for future site facilities.
Table 1. Mary LC Area - Exploration RC Drill Results
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Drill Hole Location From To Width Gold
(m) (m) (m) (g/t)
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MR-11-091 26 metres northwest of
Mary LC Pit 24.39 33.54 9.15 1.52
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MR-11-097 23 metres northwest of
Mary LC Pit 16.77 18.29 1.52 0.34
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MR-11-098 61 metres northwest of
Mary LC Pit 30.49 33.54 3.05 0.57
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53.35 54.88 1.52 0.51
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56.40 57.93 1.52 0.31
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60.98 65.55 4.57 0.59
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MR-11-099 75 metres northwest of
Mary LC Pit 28.96 30.49 1.52 1.64
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33.54 57.93 24.39 0.57
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Including 33.54 44.21 10.67 0.67
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Including 33.54 41.16 7.62 0.85
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Including 44.21 57.93 13.72 0.66
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Including 50.30 53.35 3.05 0.57
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MR-11-100 Condemnation Drilling Nil
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Table 2. Mary North Area - Exploration RC Drill Results
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Drill Hole Location From To Width Gold
(m) (m) (m) (g/t)
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MR-11-101 10.5 metres northwest
corner of Mary North Pit 4.57 18.29 13.72 1.69
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Including 4.57 13.72 9.15 2.28
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MR-11-104 Condemnation Drilling Nil
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MR-11-105 91.5 metres northeast of
Mary North Pit 57.93 59.45 1.52 0.37
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73.17 80.79 7.62 0.51
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MR-11-106 84 metres northeast of
Mary North Pit 118.90 125.00 6.10 0.94
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MR-11-107 84 metres northeast of
Mary North Pit 187.50 189.02 1.52 0.85
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MR-11-108 76 metres northeast of
Mary North Pit 106.71 109.76 3.05 0.48
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MR-11-109 122 metres northeast of
Mary North Pit 62.50 64.02 1.52 0.34
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105.18 117.38 12.20 0.92
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Including 108.23 117.38 9.15 1.17
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MR-11-110 274 metres east of Mary
North Pit 0.00 3.05 3.05 0.43
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121.95 126.52 4.57 1.11
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MR-11-111 290 metres east of Mary
North Pit 0.00 3.05 3.05 0.79
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19.82 22.87 3.05 0.60
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MR-11-112 274 metres east of Mary
North Pit 80.79 82.32 1.52 0.45
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85.37 89.94 4.57 0.28
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MR-11-113 305 metres east of Mary
North Pit 64.02 70.12 6.10 1.07
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MR-11-114 Results Pending
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Table 3. Drinkwater Area - Exploration RC Drill Results
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Drill Hole Location From To Width Gold
(m) (m) (m) (g/t)
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MR-11-115 30.5 metres east of
Drinkwater Pit 0.00 1.52 1.52 0.60
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9.15 13.72 4.57 0.45
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MR-11-116 30.5 metres northeast of
Drinkwater Pit 16.77 19.83 3.05 0.77
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22.87 24.39 1.52 0.54
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MR-11-117 30.5 metres east of
Drinkwater Pit 56.40 65.55 9.15 0.74
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Table 4. Drinkwater Pit - Definition RC Drill Results
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Drill Hole Location From To Width Gold
(m) (m) (m) (g/t)
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MR-11-118 East boundary of
Drinkwater Pit 36.59 38.11 1.52 5.53
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42.68 57.93 15.24 1.81
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59.45 62.50 3.05 1.23
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64.02 65.55 1.52 0.28
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MR-11-119 Results Pending
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MR-11-120 Southeast corner of
Drinkwater Pit 30.49 36.59 6.10 3.57
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47.26 51.83 4.57 1.79
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MR-11-121 Lower southeast corner of
Drinkwater Pit 9.15 12.20 3.05 0.40
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30.49 42.68 12.20 3.03
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All RC holes presented in the above tables were drilled at 90 degrees vertical dip; true width is estimated at approx.90% downhole width. Analytical results were performed by American Assay Laboratory Inc. (AAL) in Sparks, Nevada, USA. AAL does not have ISO/IEC 17025 accreditation but implements a quality management system following ISO/IEC 17025 standards and maintains a paperwork trail for ISO/IEC 17025 accreditation. AAL participates in a number of testing and certification programs, details of which are presented in the Company's quality assurance and quality control (QA/QC) program for the Mineral Ridge project at: www.scorpiogold.com/Documents/QAQC-MR.pdf. External check assays to verify lab accuracy are routinely completed by ALS Chemex, an ISO 9001:2000 certified and ISO/IEC 17025:2005 accredited laboratory.
For additional information please see the Company's website at www.scorpiogold.com.
President & CEO, Mr. Peter J. Hawley, PGeo, is the Company's Qualified Person for the various Company projects. Mr. Hawley is responsible for the current exploration and development programs and has reviewed the content of this release.
ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION
Peter J. Hawley, President & CEO
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 and development of its 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 those risk factors outlined in the Company's Management Discussion and Analysis for the year ended December 31, 2010 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 therein.
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.
Contact:
Peter J. Hawley
Scorpio Gold Corporation
President & CEO
(819) 825-7618
phawley@scorpiogold.com
www.scorpiogold.com
Torrey Hills Capital
Investor Relations:
Andrew Hoffman
(858) 456-7300
ahoffman@torreyhillscapital.com
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