The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Scorpio Gold Intersects 24.39 Metres Grading 5.19 g/t Gold on Brodie Zone North Extension, Mineral Ridge Project

Tuesday, November 15, 2011

Scorpio Gold Intersects 24.39 Metres Grading 5.19 g/t Gold on Brodie Zone North Extension, Mineral Ridge Project08:00 EST Tuesday, November 15, 2011VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2011) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) announces follow-up drill results from the Brodie Zone, located 975 metres (3,200 feet) southwest of the current mining in the Drinkwater pit at the 70% owned Mineral Ridge project, Nevada.Peter J. Hawley, President and CEO reports, "Follow-up drilling on the Brodie Zone targeted its northwest extension and has now defined a mineralized trend over an 850 metre (2,800 foot) strike length, remaining open in both northwest and southeast directions. The trend is on strike with the Bluelite Zone located 1,370 metres (4,500 feet) to the northwest. Drill holes presented in Table 1 were collared over a spacing of 300 to 600 metres (1,000 to 2,000 feet) northwest from the historical Brodie pit. Drill hole MR11252, which intersected 24.39 metres averaging 5.19 g/t gold, was the furthest hole drilled to the northwest."Table 1. Brodie Zone Northwest Extension - Significant Drill ResultsHole No.From (ft)To (ft)Width (ft)From (m)To (m)Width (m)Gold (OPT)Gold (g/t)MR111492552701577.7482.324.570.2206.23280285585.3786.891.520.0160.454454505135.67137.201.520.0521.47MR111500550.005.005.000.0140.402535107.6210.673.050.0190.52210215564.0265.551.520.0230.65225230568.6070.121.520.0140.40240245573.1774.701.520.0230.65285290586.8988.411.520.0200.57MR11151145150544.2145.731.520.0461.302152251065.5568.603.050.0852.41235240571.6573.171.520.0300.85MR1115244548540135.67147.8712.200.0190.5351553015157.01161.594.570.0170.47MR111533103201094.5197.563.050.0391.114854905147.87149.391.520.0210.60MR1125241549580126.52150.9124.390.1835.1941546045126.52140.2413.720.3138.87All holes presented in the above tables were completed by reverse circulation (RC) drilling. True width is estimated at ~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. President & CEO, Peter J. Hawley, PGeo, is the Qualified Person for the Mineral Ridge project and has reviewed the content of this release. For additional information please see the Company's website at www.scorpiogold.com. ON BEHALF OF THE BOARD SCORPIO GOLD CORPORATIONPeter J. Hawley, President & CEOThe 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 Mineral Ridge 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 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. HawleyScorpio Gold CorporationPresident & CEO(819) 825-7618phawley@scorpiogold.comwww.scorpiogold.comORJim MacdonaldTorrey Hills CapitalInvestor Relations(858) 456-7300jm@sdthc.comNeither 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.