Near Surface, High-Grade Mineralisation Within Pharos Project
Scorpion Minerals Limited (ASX: SCN) has encountered high-grade near surface gold mineralisation at its Lantern Prospect within its Pharos Project in Western Australia.
The company has now completed phase one Reverse Circulation (RC) drilling programme at Pharos, located approximately 50 km north west of Cue in the Murchison district of WA and immediately north of Scorpion’s Mt Mulcahy Cu‐Zn‐Ag‐Au‐ Co Project.
Scorpion completed 28 Reverse circulation holes totalling 2,482m to a maximum depth of 174 m across prospects within E20/948. Assay results for the first four holes have been received with a significant result of 11m @ 5.39g/t Au from surface including 3m @ 18.0 g/t Au from 4m returned from the first drill hole (LTRC004) completed at the Lantern Prospect.
Seven individual prospects (Beacon, Lantern, Candle, Cap Lamp, Salt Flat, Oliver’s Patch and Atlanta) were drilled‐tested in the order listed. Each target was tested with one fence of drill holes, except Lantern where two fences 40m apart were completed adjacent to historic high grade drill intercepts, and Atlanta tested by a single hole.
A total of 10 batches comprising 1701 samples were submitted for analysis during the three week drilling programme. Results are expected to be received over the next three weeks given the current 14‐to‐21 day laboratory turnaround time.
Drilling at each target was successful in intersecting significant dolerite‐hosted structures with associated quartz veining and alteration, including silica‐ carbonate‐chlorite and sulphide and/or their weathered remnants. Further drilling is required to adequately test all targets.
A further 2500 metres of follow up RC drilling is planned to commence in the next fortnight and will include additional down‐dip and extensional RC drilling at a number of prospects, including shallow infill and strike extension drilling at Lantern.
The expanded programme will also include extensional and down‐dip drilling at Oliver’s Patch and Salt Flat, where both prospects have recorded promising vein intercepts. Additional extensional and down‐ dip drilling will be added to the programme at other prospects as further results become available.