- Scorpion Minerals (SCN) has intersected high-grade gold rock chip samples from its Pharos Project in WA
- In June, the company undertook rock chip sampling programs outside of the Beacon, Lantern, and Candle prospects
- Of the 57 samples assessed by fire assay, 17 returned anomalous gold levels with results peaking at 10.5 grammes per tonne gold
- Scorpion also compiled historical results from the Cap Lamp area and received results from Oliver’s and Atlanta
- Reverse circulation drilling will now be undertaken at these areas to test for quartz veining
- The company has ended the day 11.3 per cent in the red and shares are trading for 7.1 cents each
Scorpion Minerals (SCN) has intersected high-grade gold rock chip samples from its Pharos Project.
The Pharos Project is located 50 kilometres northwest of Cue in the Murchison district in Western Australia.
In June, Scorpion undertook rock chip sampling programs outside of the Beacon, Lantern, and Candle prospects.
Of the 57 samples assessed by fire assay, 17 returned anomalous gold levels above 150ppb (parts per billion) with significant results including 10.5g/t gold and 10g/t gold.
The company has also compiled historical results from the Cap Lamp area with a high-grade result of 7.5g/t gold and an average of 2.1g/t gold.
A best result of 1.2g/t gold was received from Oliver’s, while a previous best of 0.7g/t gold was intersected from Atlanta.
Scorpion believes that all these areas contain multiple quartz vein targets and will undertake exploration to test this.
Reverse circulation (RC) drilling will be carried out at Candle, Beacon, Cap Lamp, Atlanta, Oliver’s, and the Salt Flat prospect.
The program at Atlanta, Candle, Beacon, and Lantern will begin once the heritage clearance is completed, while a program of works application is currently being prepared for Cap Lamp and Salt Flat.
Scorpion will now undertake detailed geological mapping in selected areas and complete follow-up RC drilling at multiple prospects.
The company has ended the day 11.3 per cent in the red and shares are trading for 7.1 cents each in a $16.36 million market cap.