Scorpio Gold Leach Pad Activated for Gold Recovery at Mineral Ridge
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Vancouver, March 1, 2011 - Scorpio Gold Corporation (the “Company”) (TSX-V: SGN) reports that the application of solution to the leach pad for gold recovery at its 70% owned, fully funded, fully permitted Mineral Ridge Gold Project in Nevada has commenced.
Scheduling remains on track to commence processing of pregnant solution through the ARD plant to initially produce gold later this month.
Crushing, agglomeration and stacking of gold-bearing material mined by previous owners continues, and the application of leaching solution will increase as the various cell pads are configured. There are presently some 280,000 tons of the previously mined material available to be treated on the pad, after which, material for the balance of 2011 will be mined from the Drinkwater Pit.
Gold production, which is completely un-hedged, is expected to to reach a steady state by June and then continue to track positively in the second half of 2011.
The Company’s interest in the Mineral Ridge project is expected to increase to 80% before year end based on Mineral Ridge achieving two quarters of commercial production, pursuant to its agreement with Golden Phoenix Minerals.
Peter J. Hawley, PGeo, President and CEO, is the Company's Qualified Person for the Mineral Ridge project and has reviewed the content of this release.
For additional information please see the Company's website at www.scorpiogold.com.
ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION
Peter J. Hawley,
President & CEO
For further information contact:
Peter J. Hawley Tel: (819) 825-7618
Email: phawley@scorpiogold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
We seek free harbour.
The Company relies on litigation protection for "forward-looking" statements.
The SP today is near 52 Week high.
Cheers,
durban1
