Scorpio Gold Hits 2.94 g/t Gold Over 36.42 m at Goldwedge, Flags Possible Underground Restart
SGLD is trading near its 52-week low of $3.26 (2.1% above the low).
Summary
Scorpio Gold reported new Phase Two assays including 2.94 g/t gold over 36.42 m at Goldwedge, and the CEO pointed to a potential underground restart there as a nearer-term path to production.
Key Events · Product Development and Regulatory · SGLD
-
High-Grade Intercept at Goldwedge
Hole 26MN-124 returned 2.94 g/t gold over 36.42 m from 169.62 m, including 19.33 g/t over 4.27 m from 188.36 m, within faulted Zanzibar and Gold Hill Formations.
-
Additional Hits Across Four Targets
West Pit hole 26MN-125 returned 24.85 g/t over 1.22 m; Black Mammoth hole 26MN-121 returned 1.37 g/t over 17.07 m including 17.04 g/t over 1.07 m; Zanzibar Trend hole 26MN-122 returned 1.18 g/t over 17.10 m and 1.48 g/t over 9.48 m.
-
Underground Restart Under Review
CEO Zayn Kalyan said hole 26MN-124 provides further impetus to investigate a potential underground restart at Goldwedge as a nearer-term path to production, ahead of the surrounding district.
-
Drill Program Status
122 holes (35,844 m) drilled in Phase Two to date; assays reported on 115 holes (33,379 m), with seven holes (2,465 m) pending and to be released as available.
Analysis · SGLD · Energy & Transportation
These are the strongest widths and grades reported from the Goldwedge target in the Phase Two program, and the CEO explicitly ties them to investigating an underground restart there as a nearer-term route to production ahead of the wider district. That matters because Scorpio is a pre-production explorer trading near its 52-week low — a credible path to near-term output, plus a sonic program on the historic heap leach and tailings starting before month-end, gives the market tangible catalysts rather than pure exploration optionality. The results sit outside the existing 2025 resource model, so they support resource expansion rather than just confirming known ounces. Caveats: intercepts are down-hole lengths with no true width estimated, and the 740,000 oz maiden resource is inferred only — not reserves, with no demonstrated economic viability.
How filings like this one have moved
In the 30 days to Oct 19, 2026, 29.4% of the 1386 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.50%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SGLD was trading at $3.33 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $61.5M. The 52-week trading range was $3.26 to $14.15. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.