Scorpio Gold Drills 36.82 Metres Grading 5.22 g/t Gold, from 127.01 Metres Along the Reliance Trend at the Manhattan District, Nevada
Nevada District Consolidation Strategy Validated by High-Grade Intercepts and Strategic Institutional Backing
The February 11, 2026, news release reports significant high-grade gold intercepts from the ongoing 50,000-metre Phase Two diamond drilling program at the Manhattan District Project in Nevada. Key highlights include: - Hole 25MN-042: 36.82 metres grading 5.22 g/t gold from 127.01 metres, including a sub-interval of 4.88 metres at 19.86 g/t gold. - Hole 25MN-043: 7.01 metres grading 9.03 g/t gold from 268.53 metres, including 1.37 metres at 41.21 g/t gold. - Status: 44 holes (14,324m) of Phase Two have been completed, with assays reported for 33 holes and 11 holes (3,924m) still pending. - Objective: The drilling targets the Reliance Trend to add inventory ahead of an upcoming mineral resource update and tests step-out targets like Black Mammoth.
The impact is Material - Positive for the following reasons: - Grade Superiority: The reported intercept of 5.22 g/t over 36.82m is significantly higher than the current Maiden Mineral Resource Estimate (MRE) grade of 1.26 g/t. This suggests a potential for a material increase in the average grade of the project in future updates. - Execution Continuity: Following the September 2025 MRE, the company has maintained a "steady cadence" of results. This news confirms that high-grade mineralization persists along the Reliance Trend and is open to depth. - Strategic Validation: The news reinforces the investment thesis that attracted Ross Beaty and Eric Sprott in late 2025 ($0.25 entry). The ability to find >5 g/t gold over wide widths in Nevada is a key differentiator for a junior explorer. - Resource Growth: Management is explicitly targeting a "multi-million-ounce" system; these results are the first concrete evidence in 2026 that the current 740,000-ounce inferred base has significant room to grow both in tonnage and grade.
- Summary: Scorpio Gold is a Nevada-focused gold explorer and emerging developer.
- Flagship Project: The Manhattan District Project (100% owned), which includes the Goldwedge Project and the Manhattan Project (acquired from Kinross in 2021).
- Infrastructure: Includes a 400-ton-per-day gravity mill and valuable water rights, providing a massive advantage over peers who must build from scratch.
- Resource: Maiden Inferred Resource (Sept 2025) of 740,000 oz gold at 1.26 g/t. Historical high-grade resources of ~300,000 oz at 5.89 g/t also exist in the district but are not yet NI 43-101 compliant.