Northwire Canada EditionSaturday, July 18, 2026
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AII 19.25 +3.9% GGA 5.95 +12.3% VM 0.140 +3.7% GSR 0.365 +1.4% QCX 0.195 +0.0% EAU 0.085 +0.0% MCM 0.310 +0.0% BAT 0.100 +5.3% SFR 0.370 +68.2% FFU 0.125 +4.2% TVI 0.045 −10.0% ZNX 0.080 +0.0% TSK 1.06 +0.9% OMM 0.050 +0.0% EMO 0.320 −7.2% MDM 0.060 +0.0% AII 19.25 +3.9% GGA 5.95 +12.3% VM 0.140 +3.7% GSR 0.365 +1.4% QCX 0.195 +0.0% EAU 0.085 +0.0% MCM 0.310 +0.0% BAT 0.100 +5.3% SFR 0.370 +68.2% FFU 0.125 +4.2% TVI 0.045 −10.0% ZNX 0.080 +0.0% TSK 1.06 +0.9% OMM 0.050 +0.0% EMO 0.320 −7.2% MDM 0.060 +0.0%
Drill Results Routine +

Scorpio Gold Drills 0.62 g/t Gold over 62.21 Metres from 230.43 Metres Within Manhattan Caldera, at Black Mammoth

District-Scale Gold Potential Consolidated

By The Northwire Desk — AI Analysis May 07, 2026 · 05:01 SGN · 0.395 Scorpio Gold Corporation
Executive Summary
  • Event: Drill results announcement dated May 7, 2026.
  • Location: Black Mammoth area within the Manhattan Caldera, Nevada.
  • Key Intercepts: Hole 26MN-069 returned 0.62 g/t Au over 62.21m; Hole 26MN-072 returned 6.04 g/t Au over 4.86m (including 15.99 g/t Au over 1.78m).
  • Program Status: Phase Two drilling program has completed 79 holes totaling 23,065 meters; 60 holes assayed to date with 19 pending.
  • Geological Context: Mineralization hosted in volcanic units of the Manhattan Caldera (Round Rock Formation) and Ordovician Zanzibar Formation.
  • Management Commentary: VP Exploration Harrison Pokrandt notes the results suggest a broader mineralized system than previously recognized, similar to the nearby Round Mountain Gold Mine setting.
Material Impact
  • Consistency with History: The May 7 results are consistent with the preceding week's news (May 5) which also highlighted high-grade step-outs along the Zanzibar Trend and Black Mammoth.
  • Incremental Nature: While positive, this is part of a continuous Phase Two program announced in October 2025 targeting 50,000 meters. It does not represent a new resource category or a major financing event like the August 2025 placement or September 2025 MRE.
  • Market Expectation: The market has already priced in the potential for district-scale expansion following the maiden MRE (740,000 oz) and the strategic investment by Eric Sprott and Ross Beaty.
  • Price Reaction Context: Despite positive drilling results throughout Q1 and Q2 2026, the stock price has declined from a high of $0.60 in February to ~$0.40 in May. This indicates that incremental drill results are currently viewed as routine validation rather than immediate catalysts for re-rating.
  • Verdict: The news is positive but expected within the context of the ongoing exploration program. It reinforces the geological model without materially altering the investment thesis or valuation drivers at this specific moment.
SGN · Price
Company Overview
  • Company: Scorpio Gold Corp. (TSXV: SGN | OTCQB: SRCRF).
  • Flagship Project: Manhattan District, Nevada, USA.
  • Project Status: Exploration / Development (Resource Definition Phase).
  • Location: ~15 km south of Kinross’ Round Mountain Gold Mine (a 15M+ oz operation), providing infrastructure and geological context.
  • Asset Base: Consolidated four contiguous properties including the historical Goldwedge underground mine with a permitted 400 t/d gravity mill.
  • Resource Estimate: Maiden NI 43-101 Inferred Resource of 740,000 oz Au at 1.26 g/t (September 2025). Historical resources total ~304,000 oz Au.
Read the original news release →

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