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Scorpio Gold Produces 8,569 Oz of Gold in 1Q 2016

2016-04-13


Scorpio Gold announces its operating results for the first quarter (Q1) of 2016 at its 70% owned Mineral Ridge project, located in Nevada. Gold and silver production in Q1 2016 totalled 8,569 ounces and 3,921 ounces, respectively, representing 28% and 38% decreases over Q1 2015. The decreased metal production in Q1 2016 is attributed to slower leach pad recoveries while equipment was being relocated in order to utilize new areas of the pad for leaching. Both gold and silver recoveries from the leach pad are expected to improve in Q2 2016.

Peter J. Hawley, President & CEO, reports, "We are very pleased to report another strong quarter of production at Mineral Ridge, wherein total ore mined increased 16.4%, processed material increased 15.2% and head grade increased 17%, compared to Q1 2015. This strong start to the year puts Scorpio Gold in a very good position to meet our 2016 production forecast of 30,000 to 35,000 ounces of gold while transitioning toward production growth in 2017."

Production in 2016 is scheduled from the Mary LC pit and from the Bluelite, Solberry, Brodie and Missouri satellite pits. Pre-stripping began in the Missouri pit during Q1, and ore production commenced in Q2.