Scorpio Gold Starts Drilling at April Fool After 59 g/t Grab Sample
SGLD is trading near its 52-week low of $3.5 (0.8% below the low) on light trading volume (0.1× avg).
Summary
Scorpio Gold has commenced diamond drilling at its April Fool target in Nevada, following surface sampling that returned up to 59 g/t gold. The company reports 48 selective grab and rock chip samples, with three exceeding 40 g/t and thirty exceeding 1 g/t. Management highlights the geological similarity to the Zanzibar Trend, where 2026 drilling has produced intercepts like 3.14 g/t over 49.62 m and 12.78 g/t over 5.91 m. This is the first systematic drill test of April Fool, a historically underexplored area that could open a new growth front. Assay results from the first hole are expected by the end of October 2026. The stock trades near its 52-week low, so positive drill results could provide a significant re-rating catalyst.
At the time of this announcement, SGLD was trading at $3.47 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $61.1M. The 52-week trading range was $3.50 to $14.15. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: TMX Newsfile.