Canadian Mining Journal


Scorpio CEO: ‘If you’ve got cash, this is the time to drill’

Scorpio Gold Corp.’s (TSXV: SGN) Mineral Ridge asset in Nevada is not only returning high grade intercepts from various satellite deposits and other targets drilled on the property, but its open pit gold mining operation is on track to produce 38,000 to 40,000 oz of gold this year at cash costs of US$800 to US$850 per oz.

Scorpio acquired Mineral Ridge in March 2010, and put a conventional heap leach operation into production in 2012, with ore from one starter pit, Drinkwater, which has now been depleted. Since then, the company has started mining three other pits on the property: Mary, now depleted, Solberry, Mary LC, and Bluelite, and has another three known satellite deposits to potentially bring into production: Brodie, Wedge and Oromonte. All of the satellite deposits lie within several hundred metres of one another.

Mineral Ridge, about 56 km southwest of Tonopah, is host to multiple gold-bearing structures, veins and lenses at various exploration, development and production stages, and historically produced about 575,000 oz of gold (170,000 oz from open pit and 405,000 oz from underground).

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