Scorpio Gold Drills 2.05 g/t Gold over 97.99 Metres from 64.16 Metres at the Goldwedge Target at Manhattan
Scorpio’s 98m at 2.05 g/t gold step-out at Goldwedge extends bulk-tonnage mineralization.
Scorpio Gold Corporation (SGN) has released assay results from 18 step-out diamond drill holes from Phase Two at its Manhattan District project in Nevada. The headline result comes from hole 26MN-110 at the Goldwedge target, which returned 2.05 g/t gold over 97.99 metres from 64.16 m downhole. This interval includes narrow high-grade sections of 18.19 g/t over 3.17 m and 11.41 g/t over 4.57 m.
Other notable intercepts from the program include:
- Hole 26MN-090: 0.91 g/t over 20.63 m, plus 16.47 g/t over 2.35 m
- Hole 26MN-099: 2.10 g/t over 16.15 m
- Hole 26MN-101: 1.60 g/t over 33.53 m, including 7.11 g/t over 5.18 m
- Hole 26MN-104: 35.23 g/t over 1.01 m
The company also resampled a historic hole, GWUG-11-11, which returned 8.59 g/t over 6.1 m. The drilling program is nearly complete, with 99 of 102 holes assayed and three results still pending.
Scorpio Gold Corporation reported a result that extends the Goldwedge mineralized envelope beyond the 2025 resource. The company has previously delivered similar or better gram-metre intercepts, including 192 g-m at Reliance Trend and 155 g-m at Zanzibar. Since reaching a high of C$0.60 in late February 2026, the shares have declined steadily to C$0.27.
The new hole 26MN-110 is the widest yet but at a grade only slightly above the resource average (2.05 vs 1.26 g/t). For a pre-revenue explorer with a C$82 million market cap, such incremental results are unlikely to re-rate the company materially. The absence of true width means the actual tonnes add-potential is unquantifiable.
Scorpio Gold Corporation (SGN) is a junior explorer focused on the Manhattan District in Nevada, a historic gold camp with approximately 700,000 ounces of past production. The company holds a 100% interest in approximately 4,780 hectares of claims, which include the Goldwedge underground mine featuring a 400 tonnes per day gravity mill and four past-producing open pits.
A maiden inferred resource reported in 2025 contains 740,000 ounces at 1.26 grams per tonne of gold, utilizing a 0.3 grams per tonne cut-off and a $2,500 per ounce gold price. Additional historic, non-compliant resources at satellite targets total approximately 304,000 ounces at 5.89 grams per tonne. The company is currently executing a 50,000-metre Phase Two drill program aimed at expanding the resource toward a conceptual 2 million-ounce, greater than 1 gram per tonne target.
The treasury holds approximately C$8 million in cash as of June 2026, with a manageable burn rate, though no revenue is generated. Major shareholders include Ross Beaty and Eric Sprott.