Scorpio Gold Corp V.SGN

Drill Results

[geezer321]

June 05, 2013 08:00 ET

Scorpio Gold Intersects 5.17 g/t gold over 21.34 meters and Extends Mary/LC Zone at the Mineral Ridge Operation, Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 5, 2013) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSX VENTURE:SGN) announces initial drill results from its 2013 drilling program, which targeted undrilled areas in the vicinity of the proposed Mary LC Zone super pit at the 70% owned Mineral Ridge project, Nevada.

Prior to this drilling campaign, drill results for the Mary LC area were incorporated into an in-house wire frame resource block model, which formed the basis of the proposed new Mary LC super pit design using floating cone methodology and economic parameters based on current operating costs. Within this pit design, areas that were not drilled due to topographic challenges, or which contained drill spacing deemed too wide for resource determination, or which extended outside of the floating cone boundary, were treated as waste with zero grade. The purpose of the current 2013 drill program is to target these areas to determine if mineralization exists; to tighten up drill hole spacing for resource estimation; and to follow up on mineralized trends either below the proposed pit shell floor or outside of the existing cone boundary.

The results to date are highly encouraging, including intersections of 5.17 g/t over 21.34 meters; 1.53 g/t over 12.19 meters; and a high-grade intersection of 15.09 g/t over 1.52 meters. These results were obtained in three holes located at the southeastern margin of the Mary LC area, with the zone remaining open to the southeast and to depth.

As part of the planning for this drill program, the trends of the various mineralized wire frames were projected into the undrilled areas to guide targeting and to determine if the trends are consistent. Results to date indicate good consistency, with mineralization intersected where expected. It is important to note that every successful drill hole intercept converts previously deemed waste material into mineralization, potentially adding to the resource base and increasing confidence levels.

Scorpio Gold's drilling to date has determined that the Drinkwater Highwall, Drinkwater, Mary and Mary LC zones represent one continuous zone of mineralization. The holes presented in Table 1 were drilled in previously deemed waste areas and/or where little to no previous drilling had been performed. A 40 g/t cutoff grade has been applied. Drill hole locations may be viewed on the Company's website at: www.scorpiogold.com/i/maps/mr/MaryLC_DHplan2.jpg.

Table 1. Mary/LC Zone - Significant Drill Results
Hole No.	Azm (deg)	Dip (deg)	From (ft)	To (ft)	Width (ft)	From (m)	To (m)	Width (m)	Gold (OPT)	Gold (g/t)
MR13520	0	-90	165	205	40	50.29	62.48	12.19	0.022	0.74
MR13521	225	-60	165	175	10	50.29	53.34	3.05	0.059	2.02
MR13522	0	-90	50	55	5	15.24	16.76	1.52	0.015	0.51
MR13523	225	-50	No Significant Results
MR13524	0	-90	145	155	10	44.20	47.24	3.05	0.015	0.55
MR13525	0	-90	40	45	10	12.19	13.72	1.52	0.018	0.62
			55	60	5	16.76	18.29	1.52	0.025	0.86
			90	100	10	27.43	30.48	3.05	0.016	0.53
MR13526	225	-50	55	60	5	16.76	18.29	1.52	0.021	0.72
MR13527	0	-90	25	30	5	7.62	9.14	1.52	0.012	0.41
			140	145	5	42.67	44.20	1.52	0.723	24.79
MR13528	225	-50	30	45	15	9.14	13.72	4.57	0.198	6.78
MR13529	0	-90	No Significant Results
MR13530	0	-90	Results Pending
MR13531	225	-55	Results Pending
MR13532	0	-90	Results Pending
MR13533	195	-50	30	35	5	9.14	10.67	1.52	0.013	0.54
			70	75	5	31.34	22.86	1.52	0.014	0.48
			110	115	5	33.53	35.05	1.52	0.019	0.65
			270	280	10	82.30	85.34	3.05	0.016	0.55
MR13534	0	-90	Results Pending
MR13535	225	-55	0	10	10	0	3.05	3.05	0.034	1.15
MR13536	225	-60	0	5	5	0	1.52	1.52	0.014	0.48
MR13537	0	-90	40	50	10	12.19	15.24	3.05	0.056	1.90
MR13538	0	-90	50	55	5	15.24	16.76	1.52	0.034	1.17
			65	105	40	19.81	32.00	12.19	0.045	1.53
MR13539	0	-90	55	60	5	16.76	18.29	1.52	0.014	0.48
MR13540	0	-90	15	20	5	4.57	6.10	1.52	0.022	0.75
			60	65	5	18.29	19.81	1.52	0.119	4.08
			95	100	5	28.96	30.48	1.52	0.44	15.09
MR13541	0	-90	25	45	20	7.62	13.72	6.10	0.015	0.51
			200	205	5	60.96	62.48	1.52	0.098	3.36
MR13542	0	-90	25	95	70	7.62	28.96	21.34	0.151	5.17
			115	120	5	35.05	36.58	1.52	0.017	0.58

All holes presented in Table 1 were completed by reverse circulation (RC) drilling. True width is estimated at 90-100% of 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/i/pdf/reports/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.