Northwire Canada EditionWednesday, August 5, 2026
Sign inSubscribe
Northwire
⌕
SGZ 0.040 +0.0% SGML 14.89 −3.9% DEF 0.180 +9.1% UCU 3.41 −1.2% BBB 0.660 −2.9% PML 1.67 +0.6% GR 0.070 +7.7% GSKR 3.46 +5.2% LAR 8.98 −0.8% LSTR 0.090 +28.6% NTH 0.160 −3.0% BVA 0.800 −3.6% OTMC 0.400 +14.3% GPAC 0.340 +9.7% LEGY 0.940 +0.0% CVB 0.150 +0.0% SGZ 0.040 +0.0% SGML 14.89 −3.9% DEF 0.180 +9.1% UCU 3.41 −1.2% BBB 0.660 −2.9% PML 1.67 +0.6% GR 0.070 +7.7% GSKR 3.46 +5.2% LAR 8.98 −0.8% LSTR 0.090 +28.6% NTH 0.160 −3.0% BVA 0.800 −3.6% OTMC 0.400 +14.3% GPAC 0.340 +9.7% LEGY 0.940 +0.0% CVB 0.150 +0.0%
Drill Results

Scorpio Gold Announces Further Drill Results from Manhattan District, Nevada

Scorpio Gold Delivers Deep Expansion Intercepts as Aggressive 50,000m Nevada Drill Campaign Accelerates Under High-Profile Backing

By The Northwire Desk — AI Analysis Dec 30, 2025 · 06:01 SGN · 0.37 Scorpio Gold Corporation
Executive Summary

The news release dated December 30, 2025, provides partial results from the 2025 Phase 2 drilling program at the Manhattan District Project in Nevada. The company completed 10,880 meters across 35 holes using diamond drilling. Key results from 21 reported intervals show mineralization extending laterally and at depth beyond the current Inferred Resource Constraining Pit (IRCP), which was modeled at a gold price of $2,500. Notable intercepts include 2.77 meters at 3.54 g/t Au (Hole 25MN-031) and 2.53 meters at 2.71 g/t Au (Hole 25MN-028). CEO Zayn Kalyan emphasized that the drilling is "additive" to the existing system and that assays for 12 additional holes (3,169 meters) are pending.

Material Impact
  • Resource Expansion Potential: The news is materially positive because it confirms that the gold system at Manhattan remains open and extends beyond the boundaries of the maiden Mineral Resource Estimate (MRE) released in September 2025. Specifically, intercepts found 70-190 meters below the modeled pit floor suggest the potential for a significantly larger resource base.
  • Cadence of Discovery: The company is successfully transitioning from a "re-interpretation" phase of historical data to a "discovery" phase with the drill bit. The 50,000-meter program is one of the largest in the junior sector, and early results validate the aggressive exploration strategy.
  • Technical De-risking: By intercepting mineralization in the "Gap Zone" and "West Pit Extension," Scorpio is proving continuity between previously fragmented mining areas, which is critical for future open-pit mine planning.
  • High-Cost Environment: While results are positive, the modeling of the resource at a $2,500 gold price indicates that the project requires a sustained high-gold-price environment to remain economically robust under current assumptions.
SGN · Price
Company Overview

Scorpio Gold Corp. is focused on the Manhattan District in Nevada, a consolidated land package that includes the past-producing Goldwedge and Manhattan Pit mines. The flagship project currently hosts an Inferred Mineral Resource of 740,000 ounces of gold at 1.26 g/t. The company also holds the Goldwedge mill (400 tpd) and significant water rights, providing a path to production that many peers lack. The strategy is to expand the current resource to over 2 million ounces to justify a large-scale mining operation.

Read the original news release →

More from Scorpio Gold Corporation

Jul 27, 2026 · 05:01

Scorpio Gold lists on Nasdaq to broaden U.S. capital access for its Nevada gold exploration projects.

Regulatory Jul 23, 2026 · 09:30

Scorpio’s discounted $10.8m equity raise extends Manhattan drilling runway amid dilution.

Financings Jul 15, 2026 · 16:18

Scorpio Gold raises $8m at a 7% discount to fund drilling at Manhattan, where strong intercepts have been reported.

Financings Jul 14, 2026 · 05:01

Scorpio’s 98m at 2.05 g/t gold step-out at Goldwedge extends bulk-tonnage mineralization.

Drill Results Jun 24, 2026 · 05:01

Scorpio Gold’s Manhattan District drilling validates district-scale potential as the stock consolidates near multi-month lows.

Drill Results Jun 08, 2026 · 05:01

Scorpio Gold advances Manhattan District Phase 2 drilling with consistent Goldwedge intercepts, maintaining exploration momentum amid a steady cash position.

Drill Results