Scorpion Minerals Limited - Specimen Gold Discovered at Olivers Patch Prospect Pharos Project in WA

About this update from Scorpion Minerals Limited

Scorpion Minerals Limited (ASX:SCN) (Scorpion, SCN or the Company) is pleased to provide an update on exploration activity at the Company's Olivers Patch Gold Prospect. Olivers Patch is located within the broader Pharos Project , which covers an area of 1,295 km2 and is located about 60km northwest of Cue in the Murchison Mineral Field, Western Australia . Scorpion's CEO Michael Fotios commented: 'Scorpion is pleased to provide this update on recent gold-focused exploration activity within our Pharos Project area which has further demonstrated the clear gold potential of this region. These latest encouraging findings are supported by historic exploration work at Pharos which revealed several high-grade gold targets along a 8km corridor at Olivers Patch. We look forward to providing an update on the results of a detailed review of gold targets within the entire Pharos project as we cement our next phase of exploration to be undertaken in Q3. Previous exploration completed by Scorpion and others includes, geological mapping, soil geochemistry, air magnetics, RAB/Air Core Drilling and percussion drilling (open hole and reverse circulation). Interpretation of historic results at Olivers Patch indicate the mineralised trend extends for at least 8km along an Northwest-Southeast axis. Significant drill results have been returned from several prospects in the trend including Cap Lamp, Lantern, Candle and Candle North. Location of the drill holes was constrained by historic heritage clearance along limited access tracks. Follow up drilling will be targeted at existing VTEM conductors and will be simplified by planned heritage surveys covering a larger contiguous area Prospector Activity Pharos Project Scorpion receives numerous requests each year for prospectors to explore for gold on parts of Scorpion's Pharos Project northwest of Cue in the Murchison Region of Western Australia . The area targeted by the prospectors includes the Olivers Patch, Candle and Lantern prospects and has been the source of the discovery of numerous nuggets over the years. It is also the location of several historical shallow gold workings consisting of pits and shafts targeting gold-bearing quartz veins. Recent prospecting in the area successfully identified over 18.8 grams of gold nuggets at the Olivers Patch prospect, a location where nuggets up to 25 ounces have been discovered in the past. Specimens of vein quartz containing visible gold were also collected and indicate the primary origin for the gold mineralisation (Image 1). The discovery of gold nuggets at this location is significant as historical surface soil and lag sampling surveys did not identify any gold anomalism in the area. It is suspected that this may be the result of wide sample spacing coupled with the presence of surface transported cover material masking the bedrock and indicates that the area remains highly prospective for the discovery of gold mineralisation under shallow cover. Scorpion plans to conduct a detailed soil sampling and geological mapping program over the area with the aim of identifying potential drill targets. The soil sampling program will be auger assisted and designed to ensure that samples are collected from insitu material below the transported cover. Contact: Mr Michael Tel: +61 (0) 455 633 071 Email: [email protected] (C) 2024 Electronic News Publishing, source ENP Newswire

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