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Scorpio Gold Corp V.SGN

Alternate Symbol(s):  SRCRF

Scorpio Gold Corporation is a Canada-based company, which holds 100% interest in two past producing mines, the Manhattan Mine and the Mineral Ridge Mine, both located in the Walker Lane Trend of Nevada, United States. The Company's Manhattan District comprises the advanced exploration-stage Goldwedge Project, with an approximately 400 ton per day gravity mill. Adjacent to Goldwedge is the 4,300-acre Manhattan Project, which is centered on two past-producing pits. The Goldwedge property is located approximately 54 kilometers north-northeast of the town of Tonopah within the Manhattan Mining District of south-central Nevada. The 726-hectare (1,795 acre) property covers three separate claim blocks and encompasses the Goldwedge, Keystone and Jumbo gold deposits. It also holds a 100% interest in the Mineral Ridge gold project located in Esmeralda County, Nevada. The Mineral Ridge property comprises approximately 5,617-hectare (13,879 acre). The Company has acquired the Northstar property.


TSXV:SGN - Post by User

Bullboard Posts
Post by finvestoron Feb 27, 2014 2:59pm
335 Views
Post# 22260195

Scorpio Gold will produce 40-45,000 ounces of gold this year

Scorpio Gold will produce 40-45,000 ounces of gold this year

Scorpio Gold (SGN.V) announced it expects to produce 40-45,000 ounces of gold at its 70% owned Mineral Ridge project in 2014 at a total cash cost of $800-850/oz. Just like last year, Scorpio Gold is taking a conservative approach in its cash cost guidance, and we wouldn’t be surprised to see the company revise its cost guidance downward later this year. An updated resource estimate and mine plan is expected later this quarter.

The company has also guided for a $11M capital expenditures program which includes $3.9M to be spent on exploration as Scorpio expects to drill between 18,000 and 24,000 meters this year in order to further increase the resources at Mineral Ridge. New drill results of 9 meters at in excess of 9 g/t gold and 6 meters of 3.57g/t gold will obviously help to expand the resource estimate and increase the average grade.

https://www.caesarsreport.com/blog/scorpio-gold-will-produce-40-45000-ounces-of-gold-this-year/

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