Posted in | Gold | Mining Business

Scorpio Gold Announces Commencement of Drilling at its 100% Owned Goldwedge Property

Scorpio Gold Corporation takes great pleasure in announcing the start of drilling at its 100% owned Goldwedge property, in Manhattan Nevada.

The focus of the drilling program will be on the Keystone-Jumbo claim block, for which the Company obtained drilling approval from the U.S. Forest Service in January 2019. The program necessitates drilling of up to 29 exploration holes with the aim of building on historic drilling and previously published surface sampling results (December 15, 2016 news release) within the Keystone-Jumbo claim block.

Scorpio Gold plans to exploit its own Atlas Copco 262 diamond core drill rig, which can drill both NQ and HQ size core. In 2015, Falcon Drilling reconditioned the rig with the aim of enabling the Company to carry out its own surface and underground drilling on its projects.

After being trained by Falcon, Company personnel will carry out NQ size oriented core drilling on the Keystone-Jumbo drill targets. The exploitation of the Company’s drill rig is supposed to decrease project drilling costs. Furthermore, the training offered by Falcon must help the Company on its future surface and underground drilling projects.

We are excited to commence our first diamond drilling program at the Keystone-Jumbo area and to utilize our own drill rig on this project while gaining operational experience from Falcon personnel. This should allow the Company the ability to conduct more cost-effective drilling at its Goldwedge and Mineral Ridge projects.

Chris Zerga, President, Scorpio Gold

Grant of Stock Options

The Company has declared the awarding of stock options (the “Options”) to some of the directors, officers, and employees of the Company to buy an aggregate of 2,500,000 common shares (the “Optioned Shares”) of the Company at an exercise cost of $0.10 per Optioned Share, which has an expiry date 5 years from the date of grant. The Options were issued in compliance with the terms of the Company’s stock option plan.

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