Scorpio Gold Reports Maiden Mineral Resource Estimate and Historical Mineral Resource Estimate
Executive Summary
- Scorpio Gold announced a maiden NI 43‑101 inferred mineral resource estimate for its 100 % owned Manhattan District in Nevada, totaling 740,000 oz Au at 1.26 g/t gold over 18,343 t (selected 0.3 g/t cut‑off).
- A historical resource estimate was also disclosed for satellite deposits, comprising 303,949 oz Au at 5.89 g/t gold over 1,652,325 t.
- The maiden resource is based on 92,635 m of historic drilling in 1,341 holes and serves as a baseline for upcoming Phase 1 (2025) and Phase 2 drilling programs aimed at expanding the district toward multi‑million‑ounce status.
Key Details
- Maiden MRE (Inferred) – Goldwedge & Manhattan Pit areas
- Tonnes: 18,343 t
- Grade: 1.26 g/t Au
- Contained gold: 740,000 oz (0.3 g/t cut‑off)
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Drill coverage: >92,000 m in 1,341 holes; no 2025 company drilling included yet.
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Historical MRE (Not current) – Black Mammoth, April Fool, Hooligan, Keystone, Jumbo areas
- Tonnes: 1,652,325 t
- Grade: 5.89 g/t Au
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Contained gold: 303,949 oz
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Key intercept – Drill hole MH83‑016: 12.22 g/t Au over 70.1 m (Goldwedge target).
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Cut‑off sensitivity table (selected 0.3 g/t):
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0.1 g/t → 802 koz; 0.2 g/t → 777 koz; 0.3 g/t → 740 koz; 0.4 g/t → 696 koz; … up to 1.0 g/t → 518 koz.
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Assumptions for inferred pit‑constrained model (NI 43‑101):
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Gold price $2,500/oz, mill recovery 90 %, pit slopes 50° ore /30° waste, mining cost $3/t, milling $15/t, G&A $3.5/t, royalty 2 %.
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Technical methodology – Hochbaum Pseudoflow algorithm in Datamine Studio NPVS; block size 5 × 5 × 5 m; drill spacing ≤50 m (≤25 m to nearest hole); validation via ID3, OK, NN, swath plots, SGS.
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Future work – Phase 1 2025 drilling already underway; plan to add RC rig in September; aim to convert inferred resources to higher categories and target multi‑million‑ounce resource.
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Qualified Person – Leo Hathaway, P.Geo., Executive Technical Director (NI 43‑101).
Notable Quotes
“The Maiden MRE represents the starting point for the newly consolidated 100 % owned Manhattan District… our objective is to build a multi‑million‑ounce resource at a grade that sets it apart from peers.” – Zayn Kalyan, CEO & Director.
“Uncovering the very high‑grade interval in drill hole MH83‑016 (12.22 g/t over 70.1 m) demonstrates the upside potential of the district.” – Harrison Pokrandt, VP Exploration.