Scorpion has drilling imminent in gold quest

Scorpion plans to begin RC drilling in late March
The program will follow up several high-grade targets at Pharos and Jungar Flats
First assays are expected in April

Special Report: Drilling is planned for Scorpion Minerals’ Pharos project and newly acquired Jungar Flats JV to follow-up several high-grade gold targets.

Jungar Flats abuts the Pharos landholding and both take in the northern extent of the highly prospective Dalgaranga-Big Bell (DBB) shear corridor, northwest of Cue in WA’s Murchison region.

A binding farm-in and JV agreement sees Scorpion Minerals (ASX:SCN) set to earn up to 70% in E79 Gold Mines’ (ASX:E79) project, becoming the largest tenement holder in the corridor from Spartan Resources’ (ASX:SPR) Dalgaranga to Westgold Resources’ (ASX:WGX) Big Bell.

Its ground position has expanded to 1600km2 in the area.

As well as being primarily prospective for gold, the region’s potential also offers exposure to copper and lithium.

Scorpion is setting out to test multiple walk-up gold targets at both projects, which form a cohesive tenement package straddling a strike of about 60km along the DBB corridor and NW trending splays.

Record prices drive exploration

SCN managing director Michael Fotios said the company was very excited to be getting the rigs spinning again.

“Record gold prices continue to drive increased exploration and corporate activity in the Murchison, highlighted by the recently reported $4b merger between Ramelius and Spartan,” he said.

“Having recently locked up the largest landholding along the Dalgaranga-Big Bell shear corridor, Scorpion is incredibly well positioned to leverage its significant position in the Murchison by delivering exploration success from multiple walk-up gold targets.

“We also continue to assess other strategic consolidation opportunities in the region and look forward to providing shareholders with regular updates on activity.”

Gold-targeted activities at Jungar Flats

Historical exploration at Jungar Flats has proven that gold is present – particularly at the Middle Bore prospect where wide-spaced shallow RAB returned assays of up to 18m at 1.49g/t gold from 18m while deeper diamond drilling struck 6m at 1.43g/t gold from 148m.

Scorpion is understandably keen to test this potential with a RC drilling contractor secured to begin the program in late March.

Systematic soil geochemistry and detailed mapping will also be conducted along historical intercepts such as 12m at 7.40g/t gold from 44m, including 2m at 42.4g/t at the Lantern target and 5m at 8.28g/t gold from 9m at Cap Lamp.

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.