Northwire Canada EditionWednesday, July 22, 2026
Sign inSubscribe
Northwire
⌕
CTV 0.110 −4.3% III 7.58 +5.3% NAM 0.240 −2.0% MOG 0.540 +8.0% LUG 79.10 +2.9% TWR 0.165 +3.1% LALI 0.050 +0.0% NFG 2.02 +3.1% APMI 0.145 +0.0% CDE 21.58 +8.3% NVLH 0.075 −11.8% PHNM 0.345 +4.5% AEC 6.71 +11.5% IAU 1.90 +7.3% LOD 0.295 +0.0% FVL 0.990 +8.8% CTV 0.110 −4.3% III 7.58 +5.3% NAM 0.240 −2.0% MOG 0.540 +8.0% LUG 79.10 +2.9% TWR 0.165 +3.1% LALI 0.050 +0.0% NFG 2.02 +3.1% APMI 0.145 +0.0% CDE 21.58 +8.3% NVLH 0.075 −11.8% PHNM 0.345 +4.5% AEC 6.71 +11.5% IAU 1.90 +7.3% LOD 0.295 +0.0% FVL 0.990 +8.8%
Drill Results Routine +

Scorpio Gold Drills 10.40 g/t Gold over 5.67 M, Including 455.52 g/t Gold over 0.49 M from 36.27 M and 1.94 g/t Gold over 17.07 M from 55.47 M, Along the Zanzibar Trend

Scorpio Gold Confirms District-Scale Grade Continuity Despite Valuation Compression

By The Northwire Desk — AI Analysis May 05, 2026 · 05:01 SGN · 0.35 Scorpio Gold Corporation
Executive Summary
  • Scorpio Gold Corp. announced high-grade gold assay results from two step-out drill holes (26MN-067 and 26MN-068) at the Manhattan District Project in Nevada.
  • Hole 26MN-067 intersected 10.40 g/t Au over 5.67 m, including a significant high-grade interval of 455.52 g/t Au over 0.49 m from 36.27 m depth.
  • The results confirm mineralization extends beyond the current Inferred Resource Constraining Pit (IRCP) along the Zanzibar Trend.
  • Total drilling to date in Phase Two program stands at 76 holes for a grand total of 21,939 meters, with assays reported on 58 holes and pending for 18 holes.
  • Management highlighted that the Zanzibar Trend may form part of a broader district-scale structural corridor extending from Black Mammoth through Goldwedge and Mustang Hill.
Material Impact
  • The intercepts are consistent with previous high-grade results released in February, March, and April 2026 along the same trend (e.g., Feb 19: 22.81 g/t over 4.24 m; Apr 28: 16.49 m @ 2.74 g/t).
  • While the 455.52 g/t interval is exceptional, it represents a narrow width (0.49 m) and does not constitute a new resource definition or major discovery outside of the established exploration model.
  • The news validates the ongoing Phase Two drilling thesis but lacks the surprise element required for a "Material - Positive" rating given the consistent reporting over the last six months.
  • Market reaction has been muted historically despite similar grade reports, suggesting this information is largely priced in or viewed as routine exploration progress rather than a fundamental valuation inflection point.
SGN · Price
Company Overview
  • Scorpio Gold Corp. operates the Manhattan District in Nye County, Nevada, USA, located approximately 15 km south of Kinross' Round Mountain Gold Mine.
  • The district is a consolidated 4,780-hectare property with historical production of ~700,000 oz Au and a maiden NI 43-101 inferred resource estimate of 740,000 oz Au at 1.26 g/t (June 2025).
  • The company is executing an aggressive Phase Two drilling program targeting a minimum of 50,000 meters to expand the resource and define high-grade zones like Keystone Jumbo and Black Mammoth.
  • Management aims to advance the project toward open-pit production potential through district-scale exploration rather than immediate development.
Read the original news release →

More from Scorpio Gold Corporation

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 Jun 02, 2026 · 05:01

Scorpio Gold's Manhattan District Drilling Continues to Step Out, But Stock Consolidates Near Key Support

Drill Results May 28, 2026 · 05:01

Manhattan District Execution Validates Phase Two Thesis Amid Consolidation

Drill Results