Scorpio Gold’s Manhattan assays sting along trend

Drilling at Scorpio Gold’s (TSXV: SGN; US-OTC: SRCRF) Manhattan project in Nevada continues to extend the Zanzibar Trend – linking several targets – beyond the existing inferred resource constraining pit with near-surface results.

Highlight hole 26MN-071 cut 11.3 metres grading 2.68 grams gold per tonne from 0.7 metres depth, including 3.4 metres at 6.54 grams gold, Scorpio reported Friday. Another highlight, hole 26MN-070 returned 23.2 metres grading 0.69 gram gold from 4 metres depth, including 8.3 metres at 1.61 grams gold. Manhattan is about 300 km northwest of Las Vegas.

“The near-surface nature of this mineralization is an important characteristic of the Zanzibar Trend that we expect to be meaningful as we evaluate the broader resource potential of this corridor,” Scorpio’s Vice-President of Exploration Harrison Pokrandt said in a release. “The consistency of results across successive step-out holes gives us increasing confidence in the structural continuity of this trend.”

Manhattan is about 20 km south of Kinross’ producing Round Mountain mine.

Kinross Gold country

The stage-two drill program at Manhattan continues to reveal the scale of the past-producing site, where four pits were acquired from Kinross Gold (TSX: K; NYSE: KGC) in 2021. Manhattan also hosts the Goldwedge underground workings and its 400-tonne-per-day mill, which closed in the early 2010s when mining operations ended.

The results come almost one year after Scorpio published an initial resource for Manhattan. It outlined 18.4 million inferred tonnes at 1.26 grams gold for 740,000 contained ounces. Scorpio last September received an $8-million (US$5.8-million) investment from longtime mining executive Ross Beaty and investor Eric Sprott to advance Manhattan.

Another noteworthy result along the Zanzibar trend was in hole 26MN-076 which returned 15.7 metres grading 0.25 gram gold from surface.

50,000 metre campaign

Scorpio has drilled 24,312 metres across 84 holes so far in its 50,000-metre stage-two program at Manhattan.

Shares of the company fell 2% to 36¢ apiece on Friday morning in Toronto, for a market capitalization of $111.9 million. The stock has traded in a 12-month range of 14¢ to 64¢.