Welcome to our dedicated page for Scorpio Gold news (Ticker: SRCRF), a resource for investors and traders seeking the latest updates and insights on Scorpio Gold stock.
Company Overview
Scorpio Gold Corporation (SRCRF) is a Nevada-based gold exploration company committed to unlocking the potential of its two past producing mines in the Walker Lane Trend of Nevada. With a diversified portfolio anchored by the Manhattan District and the Mineral Ridge project, the Company has built a reputation for leveraging extensive historical data and modern exploration techniques to advance its properties in a mature mining jurisdiction.
Core Assets and Operations
Scorpio Gold holds 100% interest in the Manhattan Mine and the Mineral Ridge Mine. The Manhattan District comprises the advanced exploration-stage Goldwedge Project with a 400 ton per day gravity mill and an expansive land package that includes historically productive open pit areas and underground workings. The Mineral Ridge project, with its proven historical production and established infrastructure including permitting, water rights, and connectivity to adjacent exploration targets, represents a near-term opportunity that has been developed over years of mining operations.
Exploration and Technical Expertise
At the heart of Scorpio Gold's operations is a robust exploration program that integrates over 100,000 meters of historical drilling data with modern geological and geophysical techniques. The Company’s approach to exploration is underpinned by the use of advanced drill planning, detailed mapping, and sampling programs designed to support NI 43-101 compliant resource estimates. Specialized technical consultants help model historical drillholes and target extensions along structures such as the Reliance Fault and the Goldwedge Trend, ensuring that the resource potential is accurately defined.
Operational Strength and Management
The operational strength of Scorpio Gold is further enhanced by a dedicated management team and board of directors with deep industry experience in mining, exploration, and corporate finance. Recent strategic initiatives have led to a recapitalization and management restructure, positioning the Company with a strong financial foundation and an operationally efficient framework. This new management focus, combined with strategic financing efforts, underlines Scorpio Gold's commitment to disciplined exploration and value creation while remaining unbiased and fact-based in its reporting.
Market Position and Industry Context
Positioned within one of the world’s premier mining jurisdictions, Scorpio Gold competes in a robust market characterized by intricate geological settings and stringent technical regulations. The Company distinguishes itself by maintaining an extensive modern database that supports its exploration and resource definition efforts. This technical rigor and a clear focus on harnessing historic exploration data through updated methodologies emphasize the Company’s commitment to long-term operational excellence and transparency for investors.
Infrastructure and Permitting
Both of Scorpio Gold's key assets benefit from established permitting and operational infrastructure. The Manhattan District features permitting that supports multiple exploration drilling campaigns as well as the possibility of open pit mining, while Mineral Ridge’s proven history of production, coupled with developed infrastructure and water rights, contributes to its near-term development potential. This solid operational base is further enhanced by fiscal discipline and a track record of engaging experienced technical advisors.
Commitment to Transparency and Expertise
Scorpio Gold emphasizes transparency in its operational and strategic initiatives, coupling detailed technical reports with regular updates. The Company’s narrative is supported by comprehensive QA/QC protocols and is aligned with industry standards such as NI 43-101 disclosures. This approach not only instills confidence among market participants but also underscores the Company’s commitment to excellence in technical exploration and reporting.
Investor and Market Communication
While Scorpio Gold remains focused on definitive exploration and resource definition, its expanded trading presence, including listing on U.S. OTC platforms, ensures enhanced visibility and liquidity for investors. Consistent and detailed updates, combined with participation in key industry events and investor forums, illustrate the Company’s ongoing engagement with the investment community through unbiased and data-driven communications.
Scorpio Gold (TSXV: SGN) (OTCQB: SRCRF) has completed Phase 1 of its 2024 Manhattan drill campaign and is commencing Phase 2. Phase 1 consisted of 5 drill holes totaling 1,178 meters, while Phase 2 will include 13 holes covering 3,109 meters. The program aims to extend known mineralization and bridge the Goldwedge and Manhattan targets into a larger resource. Key points:
- Manhattan is a low-sulfidation epithermal gold deposit in Nevada
- Previous drilling campaigns in 2022 and 2021 yielded significant results
- The program's goal is to support a NI 43-101 compliant resource report
- Daniel Kunz & Associates is providing technical consulting
- The company plans to settle $750,000 in debt through share issuance
Scorpio Gold (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) has commenced trading on the OTCQB Venture Market under the symbol 'SRCRF' on July 18, 2024. The company's shares are now eligible for DTC services, facilitating electronic clearing and settlement in the United States. Scorpio Gold will continue trading on the TSX Venture under 'SGN'.
The OTCQB listing aims to provide greater exposure and trading convenience for U.S. investors, potentially enhancing liquidity and diversifying the investor base. CEO Zayn Kalyan expressed optimism about the company's Nevada-based assets resonating with U.S. capital markets.
Additionally, Scorpio Gold has issued 3,650,000 incentive stock options to directors, officers, and consultants, exercisable at $0.15 per share with varying expiry dates in 2029 and 2030.
Scorpio Gold (OTC Pink: SRCRF) has appointed Harrison Pokrandt as their new Vice President of Exploration. Mr. Pokrandt brings over eight years of diverse geologic experience, working on significant gold deposits globally, including projects in Canada, the US, Uzbekistan, Finland, Japan, and Mali. He has previously contributed to major projects like B2Gold's Fekola and Skeena Resources' Eskay Creek.
In his new role, he will lead Scorpio's exploration initiatives, focusing on the current drill campaign at the Manhattan Mine. Mr. Pokrandt's expertise includes corporate development and the use of machine learning for prospectivity analysis, which Scorpio aims to leverage for resource expansion and production acceleration. Additionally, Scorpio's shareholders have approved a new equity incentive plan.
Scorpio Gold (TSXV: SGN) has appointed Charles Funk to its newly formed advisory panel.
Funk, President and CEO of Heliostar Metals (TSXV: HSTR), brings over 18 years of experience in exploration, business development, and company management. He has led multiple deposit discoveries and contributed to capital raises exceeding $200 million.
Funk’s expertise will aid Scorpio's initiatives, including the Manhattan project, aimed at filing an NI-43101 compliant resource later this year. This strategic move aims to enhance Scorpio's team capabilities and shareholder value as it progresses its projects in Nevada’s Walker Lane Trend.
Scorpio Gold has announced the commencement of its 2024 Exploration Program at the Manhattan District in Nye County, Nevada. Phase 1 of the program involves drilling 5 initial holes, followed by 20 additional holes totaling 4,260 meters throughout 2024. The Manhattan District, known for its low-sulfidation epithermal gold deposits, will see surface diamond drilling to extend known mineralization along the Reliance Fault zone and other key structures. The goal is to produce a NI 43-101 compliant resource report later this year. The program will also include metallurgical testing using drill core samples. Additionally, the company has approved the settlement of $26,430 debt through the issuance of shares, subject to TSX Venture Exchange approval.
Scorpio Gold (TSXV: SGN, OTC Pink: SRCRF, FSE: RY9) has appointed William M. Sheriff to its Board of Directors. Mr. Sheriff, founder and Executive Chairman of enCore Energy, has over 40 years of experience in the minerals industry and has raised over $500 million in public markets. His experience includes founding Energy Metals Corp. and playing a key role in its $1.8 billion acquisition by Uranium One Corp. He brings significant expertise in uranium and gold exploration, with assets across the US and Canada. Scorpio Gold's CEO, Zayn Kalyan, welcomed Mr. Sheriff, emphasizing his valuable knowledge of Scorpio's assets. This addition follows the retirement of long-time director Peter Brieger, who has been with the company since 2013.
Scorpio Gold has engaged Daniel Kunz & Associates as technical consultants for its 2024 exploration program in the Manhattan District, Walker Lane Gold Belt, Nevada. Daniel Kunz, renowned for his international mining experience, will oversee the program, leveraging over 1,200 historic drillholes and new data to aim for a 43-101 compliant resource by year-end. Kunz's past roles include CEO positions at Ivanhoe Mines and Prime Mining, where he drove significant financial growth. Alongside Kunz, Peter Parsley, with extensive experience from Echo Bay Mines, will contribute to the project's success.
Scorpio Gold (TSXV: SGN) (OTC Pink: SRCRF) has appointed Chris Richards, a seasoned professional with over 20 years of experience in the mining industry, as its Chief Financial Officer. The company also announced amendments to the North Star Agreement, altering the payment terms and creating a restricted area around the North Star Property. These developments aim to strengthen Scorpio Gold's financial leadership and secure its position in the mining sector.
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