Press release from Marketwire
Scorpio Gold Begins Exploration Drilling on Coyote Target, Mineral Ridge Gold Project, Nevada
Monday, June 13, 2011
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 13, 2011) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) is pleased to announce that exploration drilling has commenced on the Coyote target, located approximately four kilometres southwest of the Mineral Ridge operation and on strike with the Brodie mineralized body that lies adjacent to the heap leach pad. The Coyote target is one of three priority drill exploration targets outlined by the Company.
To date, exploration in the Coyote target area has outlined a one kilometre long, north-northeast trending structural corridor that ranges from 200 metres in width in the south to 300 metres in the north and is open in all directions. Structural features of the corridor are traceable on surface a further three kilometers northeast to the Mineral Ridge operation; however, detailed surface prospecting and sampling has yet to be conducted over this extent due to the rugged terrain. Numerous historical workings (circa 1900's) lie within the area to be tested, including seven shallow shafts, one adit and six trenches. Surface grab sampling over the area has reported values up to 14 grams per tonne (0.5 ounces per ton) gold.
The primary host rock outcropping in the Coyote area is the Mary Limestone unit, which is the same unit that hosts mineralization currently being mined in the Drinkwater pit and is known to host primary gold mineralization over four kilometres distance from the pit area. This unit has been overprinted by a strong north-northeast structural fabric that contains secondary quartz veins and quartz swarms, which were the target of the historical workings and prior small-scale mining. Both phases of gold mineralization are present in the Coyote target area, emphasizing the wide-scale distribution of mineralization in the Mary Limestone unit and the importance of the later structural component in enriching the gold content over considerable distances from the current operations.
This drill program represents the first ever conducted in the Coyote area and will comprise 12 reverse circulation drill holes testing the target over a one kilometre strike length.
For additional information please see the Company's website at www.scorpiogold.com. Regional exploration drill targets and proposed drill hole locations at the Coyote target can be found at www.scorpiogold.com/Properties/mineralridge/MR_DrillTargets.jpg and www.scorpiogold.com/Properties/mineralridge/Coyote_DHPlan.jpg, respectively.
President & CEO, Mr. Peter J. Hawley, PGeo, is the Qualified Person for the Mineral Ridge project. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Peter J. Hawley Scorpio Gold Corporation (819) 825-7618 firstname.lastname@example.org www.scorpiogold.com
Torrey Hills Capital Investor Relations: Andrew Hoffman (858) 456-7300 email@example.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.