Scorpio Gold Sets Quarterly Production Record at the Mineral
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 14, 2014) - Scorpio Gold Corporation (TSX VENTURE:SGN) ("Scorpio Gold" or the "Company") announces its operating results for the fourth quarter ("Q4") of 2013 at its 70% owned Mineral Ridge project, located in Nevada.
Gold production in Q4 2013 totalled 11,348 ounces, representing an increase of 5% from Q4 2012 and an 18% increase from Q3 2013. Total gold production in 2013 was 39,160 ounces, an increase of 22% over the year 2012.
Peter J. Hawley, CEO reports, "We are very pleased to report a record quarterly gold production at Mineral Ridge for the fourth quarter of 2013 and an exceptional year overall, with total gold production increasing 22% from 2012 and approaching the upper range of our 2013 forecast. Scorpio Gold has now completed two full years of production at Mineral Ridge. Our production team and contractors have done a remarkable job and deserve recognition for their contribution to the Company's success and continued growth. Looking forward to 2014, the Company is in the process of finalizing its 2014 budget and expects to provide guidance in February 2014."
Key Operating Statistics
| | Q4 2013 | Q4 2012 | % Change | Total 2013 | Total 2012 | % Change |
| Mining operations | | | | | | |
| | Total producing pits | | | | | | |
| | | Ore tonnes mined | 237,623 | 161,699 | 47.0% | 893,223 | 601,365 | 48.5% |
| | | Waste tonnes mined | 1,004,612 | 606,047 | 65.8% | 4,088,740 | 2,702,230 | 51.3% |
| | | Total mined | 1,242,235 | 767,746 | 61.8% | 4,981,963 | 3,303,595 | 50.8% |
| | | Strip Ratio | 4.2 | 3.7 | 13.5% | 4.6 | 4.5 | 2.2% |
| | | | | | | |
| | Drinkwater pit | | | | | | |
| | | Ore tonnes mined | 100,732 | 161,699 | -37.7% | 607,535 | 601,365 | 1.0% |
| | | Waste tonnes mined | 441,244 | 606,047 | -27.2% | 2,102,002 | 2,702,230 | -22.2% |
| | | Total mined | 541,976 | 767,746 | -29.4% | 2,709,537 | 3,303,595 | -18.0% |
| | | Strip Ratio | 4.4 | 3.7 | 18.9% | 3.5 | 4.5 | -22.2% |
| | | | | | | |
| | Mary pit | | | | | | |
| | | Ore tonnes mined | 136,891 | - | 100.0% | 285,688 | - | 100.0% |
| | | Waste tonnes mined | 563,368 | - | 100.0% | 1,986,738 | - | 100.0% |
| | | Total mined | 700,259 | - | 100.0% | 2,272,426 | - | 100.0% |
| | | Strip Ratio | 4.1 | - | 100.0% | 7.0 | - | 100.0% |
| | | | | | | |
| Processing | | | | | | |
| | Tonnes processed | 242,124 | 176,500 | 37.2% | 903,337 | 650,785 | 38.8% |
| | Gold head grade (g/t) | 2.28 | 2.67 | -14.6% | 2.32 | 2.30 | 0.9% |
| | Ounces produced | | | | | | |
| | | Gold | 11,348 | 10,812 | 5.0% | 39,160 | 32,066 | 22.1% |
| | | Silver | 4,154 | 4,867 | -14.6% | 14,975 | 13,871 | 8.0% |
| | Throughput (tonnes per day) | 2,632 | 2,292 | 14.8% | 2,681 | 2,127 | 26.0% |
| | Recoverable(1) gold (ounces) placed on pad | 11,554 | 9,835 | 17.5% | 43,845 | 31,257 | 40.3% |
| |
| (1) A 65% metallurgical recovery factor has been applied to the estimated contained ounces crushed and placed on the leach pad. |
Upcoming Conference:
Scorpio Gold's President, Steve Roebuck, will be attending the Vancouver Resource Investment Conference held at the Vancouver Convention Centre on January 19-20, 2014. Management looks forward to meeting its shareholders and interested parties at booth 1506. Further information is available at: www.cambridgehouse.com/event/vancouver-resource-investment-conference-2014.