Scorpio Gold Hits 19.29 g/t Gold Over 5.24m at Goldwedge, Expands Manhattan District Potential
SGLD has more than doubled off its 52-week low of $4.71.
Summary
Scorpio Gold announced drill results from four holes at its Manhattan District, including 3.02 g/t gold over 48.92 metres and a high-grade 19.29 g/t over 5.24 metres at Goldwedge, extending mineralization beyond the current resource.
Key Events · Product Development and Regulatory · SGLD
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High-Grade Goldwedge Intercept
Hole 26MN-115 returned 3.02 g/t gold over 48.92 m from 118.87 m, including 19.29 g/t over 5.24 m from 151.79 m within the Zanzibar Formation.
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Broad Mineralization at Goldwedge
Hole 26MN-118 returned 1.19 g/t gold over 99.94 m from 98.61 m, including 5.13 g/t over 4.16 m, confirming continuity along the Reliance Fault.
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Zanzibar Trend Expansion
Hole 26MN-116 returned 0.93 g/t over 22.16 m and 0.84 g/t over 25.05 m, stepping out approximately 50 m from prior intercepts along the trend.
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Underground Startup Potential
CEO Zayn Kalyan stated the high grades put a potential underground startup on the table as a nearer-term path to production.
Analysis · SGLD · Energy & Transportation
Drill results from the Manhattan District in Nevada underscore the project's growing scale. Hole 26MN-115 returned 3.02 g/t gold over 48.92 metres, including a high-grade 19.29 g/t over 5.24 metres, while hole 26MN-118 added a broad 99.94-metre intercept at 1.19 g/t, confirming continuity along the Reliance Fault. These results extend mineralization beyond the existing inferred resource and support management's view that high-grade feeder zones sit within a larger bulk-tonnage system. The company also noted the potential for a nearer-term underground startup, which could accelerate the path to production. For a junior explorer with a market cap near $77 million, intercepts of this scale and grade are material to the investment thesis.
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At the time of this filing, SGLD was trading at $11.66 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $77.3M. The 52-week trading range was $4.71 to $14.15. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.