Northwire Canada EditionFriday, July 31, 2026
Sign inSubscribe
Northwire
⌕
NMI 0.195 +0.0% TKO 9.87 +4.4% ELD 45.89 +2.2% DG 0.045 +12.5% TNGD 6.33 +3.4% DPM 52.30 +6.1% EPL 0.180 +2.9% NTH 0.160 +3.2% GGM 0.035 +0.0% ITR 3.01 +4.9% CS 13.25 +3.5% EMO 0.325 +1.6% CAN 0.050 −9.1% MOON 7.40 +3.4% FG 0.035 +0.0% SBMI 0.125 +0.0% NMI 0.195 +0.0% TKO 9.87 +4.4% ELD 45.89 +2.2% DG 0.045 +12.5% TNGD 6.33 +3.4% DPM 52.30 +6.1% EPL 0.180 +2.9% NTH 0.160 +3.2% GGM 0.035 +0.0% ITR 3.01 +4.9% CS 13.25 +3.5% EMO 0.325 +1.6% CAN 0.050 −9.1% MOON 7.40 +3.4% FG 0.035 +0.0% SBMI 0.125 +0.0%
Drill Results Material +

Scorpio Gold Drills 49.62 Metres Grading 3.14 g/t Gold, from 59.95 Metres Extending Mineralization Along Zanzibar Trend at the Manhattan District, Nevada

Scorpio Gold pivots to aggressive expansion as drill results confirm high-grade strike potential beyond the maiden resource.

By The Northwire Desk — AI Analysis Feb 19, 2026 · 06:01 SGN · 0.365 Scorpio Gold Corporation
Executive Summary

The most recent news release (February 19, 2026) reports high-grade diamond drilling results from the Phase Two program at the Manhattan District, Nevada. Key highlights include hole 25MN-044, which returned 49.62 metres grading 3.14 g/t gold. This intercept is significant as it extends mineralization along the Zanzibar Trend, stepping outside the 2025 Inferred Resource pit shell. This follows news on February 16, 2026, that the company is divesting its Manhattan Mill assets for C$750,000 to focus on a modern core processing facility, signaling a strategic shift away from small-scale production toward district-scale exploration.

Material Impact

The impact is Material - Positive. - Resource Expansion: The intercept of 3.14 g/t over nearly 50 metres is a "thick and high-grade" result for an open-pit target. Its location outside the existing resource shell provides immediate evidence that the 740,000 oz Inferred Resource (Sept 2025) is likely to grow substantially. - Strategic Realignment: Selling the 400 tpd mill for a nominal C$750,000 indicates management has deemed the legacy infrastructure insufficient for the scale of discovery they are targeting. While it reduces immediate "production" potential, it removes the distraction of a small-scale, high-cost mill. - Execution: The company is effectively deploying the US$7.5 million in proceeds from the 2025 sale of Mineral Ridge into an aggressive 50,000-metre drill program. Projections for resource growth made in late 2025 are materializing with consistent high-grade hits in Jan/Feb 2026 (e.g., 5.22 g/t over 36.82m).

SGN · Price
Company Overview

Scorpio Gold Corporation is focused on gold exploration in the Walker Lane trend of Nevada. Its flagship is the 100%-owned Manhattan District Project, which includes the Goldwedge property and the Manhattan project (acquired from Kinross). - Flagship Project: Manhattan District. - Maiden Resource (Sept 2025): 740,000 oz Gold (Inferred) at 1.26 g/t. - Geological Context: Low-sulfidation epithermal system adjacent to Kinross’s Round Mountain mine.

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