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Scorpio Gold Commences Drilling at the Keystone-Jumbo Area, Goldwedge Property, Nevada
VANCOUVER, June 06, 2019 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) is pleased to announce the commencement of
About this update from Scorpio Gold Corporation
[{"type":"text","content":" VANCOUVER, June 06, 2019 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) is pleased to announce the commencement of drilling at its 100% owned Goldwedge property located in Manhattan Nevada. The drilling program will focus on the Keystone-Jumbo claim block, for which the Company received drilling approval from the U.S. Forest Service in January 2019. The program calls for drilling of up to 29 exploration holes with the intention of building on historic drilling and previously reported surface sampling results (December 15, 2016 news release) within the Keystone-Jumbo claim block. Scorpio Gold intends to utilize its own Atlas Copco 262 diamond core drill rig which is capable of drilling both NQ and HQ size core. The rig was reconditioned in 2015 by Falcon Drilling with the intention of allowing the Company to conduct its own surface and underground drilling on its projects. Following training by Falcon, Company personnel will conduct NQ size oriented core drilling on the Keystone-Jumbo drill targets. The utilization of the Company’s drill rig is expected to reduce project drilling costs and the training provided by Falcon should also benefit the Company on its future surface and underground drilling projects. Scorpio Gold’s President, Chris Zerga, comments, “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.” Grant of Stock Options The Company announces the granting of stock options (the “Options”) to certain directors, officers, and employees of the Company to purchase an aggregate of 2,500,000 common shares (the “Optioned Shares”) of the Company at an exercise price of $0.10 per Optioned Share, expiring on the date that is 5 years from the date of grant. The Options were issued pursuant to the terms of the Company’s stock option plan. About Scorpio Gold Corporation Scorpio Gold holds a 100% interest in the Mineral Ridge gold mining operation located in Esmeralda County, Nevada. Mineral Ridge is a conventional open pit mining and heap leach operation. Mining at Mineral Ridge was suspended in November 2017; however, ...