Scorpio Gold Sampling of Stockpile at the Mineral Ridge Gold Deposit, Nevada
11.05.2011 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - May 11, 2011) - Scorpio Gold Corporation (“Scorpio Gold“ or the “Company“) (TSX VENTURE: SGN) is pleased to report assay results from sampling of material in the Drinkwater Pit that was left behind by the former operators and previously thought to be waste material.Of 156 samples collected from blasted material, approximately 52% report values of interest (Table 1). Detailed surveying has determined there is approximately 10,000 tons of mineralized material that the Company's mining contractor, Ledcor, can retrieve and deliver to the crushing unit for subsequent placement on the heap leach pad.
Table 1. Selected Stockpile Sample Results
SampleNo. Gold(OPT) Gold(g/t) SampleNo. Gold(OPT) Gold(g/t) SampleNo. Gold(OPT) Gold(g/t)
MR15-131 0.014 0.44 MR15-161 0.095 2.95 MR-15-238 0.014 0.44
MR15-132 0.112 3.48 MR15-162 0.072 2.24 MR-15-239 0.091 2.83
MR15-133 0.037 1.15 MR15-163 0.071 2.21 MR-15-240 0.016 0.50
MR15-134 0.005 0.16 MR15-164 0.006 0.19 MR-15-241 0.016 0.50
MR15-135 0.006 0.19 MR15-165 0.011 0.34 MR-15-243 0.114 3.55
MR15-136 0.014 0.44 MR15-201 0.032 1.00 MR-15-244 0.020 0.62
MR15-137 0.043 1.34 MR-15-208 0.070 2.18 MR-15-252 0.152 4.73
MR15-138 0.048 1.49 MR-15-210 0.046 1.43 MR-15-253 0.070 2.18
MR15-139 0.018 0.56 MR-15-213 0.029 0.90 MR-15-255 0.091 2.83
MR15-140 0.032 1.00 MR-15-214 0.029 0.90 MR-15-256 0.375 11.66
MR15-141 0.071 2.21 MR-15-215 0.270 8.40 MR-15-257 0.027 0.84
MR15-142 0.113 3.51 MR-15-216 0.055 1.71 MR-15-258 1.114 34.65
MR15-143 0.058 1.80 MR-15-217 0.018 0.56 MR-15-261 0.031 0.96
MR15-144 0.173 5.38 MR-15-218 0.071 2.21 MR-15-262 0.299 9.30
MR15-145 0.057 1.77 MR-15-219 0.032 1.00 MR-15-264 0.105 3.27
MR15-146 0.397 12.35 MR-15-220 0.023 0.72 MR-15-265 0.047 1.46
MR15-147 0.201 6.25 MR-15-221 0.058 1.80 MR-15-266 0.024 0.75
MR15-148 0.168 5.23 MR-15-222 0.077 2.39 MR-15-272 0.066 2.05
MR15-149 0.192 5.97 MR-15-223 0.046 1.43 MR-17-167 0.537 16.70
MR15-150 0.272 8.46 MR-15-224 0.023 0.72 MR17-167x 0.540 16.80
MR15-151 2.166 67.37 MR-15-225 0.014 0.44 MR17-168 0.132 4.11
MR15-152 0.088 2.74 MR-15-226 0.015 0.47 MR17-168x 0.127 3.95
MR15-153 0.036 1.12 MR-15-227 0.020 0.62 MR17-169 0.366 11.38
MR15-154 0.003 0.09 MR-15-228 0.037 1.15 MR17-169x 0.377 11.73
MR15-155 0.019 0.59 MR-15-231 0.245 7.62 MR17-167 0.537 16.70
MR15-156 0.002 0.06 MR-15-232 0.015 0.47 MR17-167x 0.540 16.80
MR15-157 0.015 0.47 MR-15-233 0.211 6.56 MR17-168 0.132 4.11
MR15-158 0.024 0.75 MR-15-235 0.026 0.81 MR17-168x 0.126 3.92
MR15-159 0.096 2.99 MR-15-236 0.047 1.46 MR17-169 0.366 11.38
Average sample weight of the 76 samples presented in Table 1 is 8.9 lb. Samples designated with an “x“ are re-check analyses. 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 Information
Scorpio Gold Corporation
Peter J. Hawley
President & CEO
(819) 825-7618
phawley@scorpiogold.com
www.scorpiogold.com
Investor Relations:
Torrey Hills Capital
Andrew Hoffman
(858) 456-7300
ahoffman@torreyhillscapital.com