Scorpion flags gold nuggets thanks to prospectors at Pharos project

SCN confirms specimen gold distribution at Olivers Patch prospect
Prospect is part of broader Pharos project in WA
Soil sampling planned ahead of RC drill testing

Special Report: Scorpion Minerals has discovered gold specimens over a large area at the Olivers Patch prospect within the broader Pharos project in WA.

The company has received location data, weights and photographs of gold specimens discovered by numerous prospectors operating under Section 40E permits in the Olivers Patch area.

The area targeted by the prospectors includes the Olivers Patch, Candle and Lantern prospects and has been the source of the discovery of numerous nuggets over the years, including a large 800g (25 oz) nugget in 2020.

It is also the location of several historical shallow gold workings consisting of pits and shafts targeting gold-bearing quartz veins.

Specimen weights vary from around 1g to 40g with a broad distribution around the Olivers Patch area both within and adjacent to existing prospects.

8km-long mineralised trend

The interpretation of historic results at Olivers Patch now indicates the mineralised trend extends for at least 8km along a Northwest-Southeast axis.

Notably, previous exploration completed by Scorpion and other groups within the project area includes geological mapping, soil geochemistry, air magnetics, RAB/Air Core drilling and percussion drilling (open hole and reverse circulation).

The company is confident of exploration upside, with many specimens located away from existing prospects, highlighting the ineffectiveness of historic soil geochemistry.

“Scorpion is pleased to report the discovery of gold nuggets by prospectors at Olivers Patch,” Scorpion Minerals (ASX:SCN) CEO Michael Fotios said.

“This is significant and highlights the strong gold potential within the Pharos project, particularly given that historical surface soil and lag sampling surveys did not identify any gold anomalism in the area.

“It is suspected that this may be the result of wide sample spacing coupled with the presence of surface transported cover material masking the bedrock and indicates that the area remains highly prospective for the discovery of gold mineralisation under shallow cover.”

Strategic review underway ahead of exploration

A strategic review of gold targets within the broader Pharos project area is now underway, with planned exploration activity including geological mapping, auger assisted soil geochemistry and follow-up drill testing.

The plan is to conduct a detailed soil sampling and geological mapping program over the area with the aim of identifying potential targets for RC drill testing.

This article was developed in collaboration with Scorpion Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.