Scorpio Gold seeks to produce mineral resource estimate by end of Q3
The junior is in the midst of a 3,400-metre drill campaign at its Manhattan property in Nevada
Rowan Dunne· Jun 23, 2025
Scorpio Gold Corp CVESGN OTCMKTSSRCRF FRARY9 is aiming to come up with a maiden resource estimate at its Nevada gold project by the end of September.
A drill program has been ongoing at the junior’s Manhattan property in the state of Nevada since the end of April. Information it will yield will be combined with other recent drill results and a trove of historical data to provide an accurate assessment of the site’s precious metal reserves.
“Metallurgical testing will begin immediately using drill core from the ongoing program and continue in parallel with drilling,” chief executive Zayn Kalyan highlighted in a news release on Friday, “with the goal of confirming and improving on previous results.”
Kalyan believes it has the potential to become another one of the state’s prolific gold producing assets like the group of mine sites run by Nevada Gold Mines or the Marigold operation held by SSR Mining Inc NASDAQSSRM. Scorpio’s gold property has a history dating back to the early 1900s and hosts two past producing mines: Reliance and Goldwedge. It resides near the Kinross Gold Corporation TSEK NYSEKGC Round Mountain Mine.
Underground production and placer mining at past-producing sites on the 4,970-hectare property have yielded over 640 kilo ounces of gold, historically. Production ceased at the site in 1990 when gold prices were much lower than they are now.
High-grade cores intercepted on the property last year include 27.16 grams per tonne gold over 16.8 metres and 12.47 g/t Au throughout 7.6 metres.
Scorpio has raised over $7 million to propel its goals of producing an inaugural MRE and restarting production.
Read more: NevGold’s latest drill results extend priority target at Limo Butte by over 200 metres
Nevada’s antimony-gold mineralization becomes priority target
An unprecedented spot price for gold has been providing incentive for prospectors like Scorpio in recent months, but many others are also focused on a critical mineral that used to be largely overlooked.
Antimony mineralization tends to be found in tandem with gold. Its price has skyrocketed over the past year and a half due to strict export controls implemented by China. Now, multiple junior mining companies in Nevada have made this dual focus a key priority.
NevGold Corp CVENAU OTCMKTSNAUFF FRA5E50, for instance, has been continually intercepting favourable quantities of gold (Au) and antimony (Sb) at its Limousine Butte project in White Pine County. A MRE is expected to be in hand for this promising site by the end of the year.
Additionally, Military Metals Corp CNSXMILI OTCMKTSMILIF FRAQN90 and Global Tactical Metals Corp CNSXMONI FRAA7F have been coming up with encouraging Au-Sb results at their respective sites.
“The US will require multiple antimony projects to satisfy its domestic consumption demands to become self-reliant,” Military Metals CEO Scott Eldridge said last week.
A shortage of the commodity has become increasingly concerning for the American military, U.S. battery producers and companies involved in the semiconductor industry.
Read more: NevGold pulls up even more promising antimony grades from Nevada property
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