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Scorpio Gold ( (TSE:SGN) ) has issued an announcement.
Scorpio Gold reported significant step-out drill results from its Phase Two diamond drilling program at the Manhattan District Project in Nevada, highlighted by hole 25MN-044 intersecting 49.62 metres grading 3.14 g/t gold, including a high-grade interval of 22.81 g/t over 4.24 metres. A second hole, 25MN-045, returned broad mineralized zones, and both holes were designed to convert and extend Inferred resources along the Zanzibar Trend, which remains open along strike and at depth.
Management said the new intercepts demonstrate strong strike potential beyond the existing Inferred Resource pit shell and support the concept of a new mineralized zone within the 8.5-kilometre corridor linking targets such as Goldwedge, Mustang Hill, Black Mammoth and Iron Queen. With assays pending from additional Phase Two holes and three more diamond drill holes planned, the program is positioned to drive meaningful resource expansion and potentially enhance the project’s scale and economic profile for stakeholders.
The most recent analyst rating on (TSE:SGN) stock is a Hold with a C$0.37 price target. To see the full list of analyst forecasts on Scorpio Gold stock, see the TSE:SGN Stock Forecast page.
Spark’s Take on TSE:SGN Stock
According to Spark, TipRanks’ AI Analyst, TSE:SGN is a Neutral.
The score is held down primarily by weak financial performance, marked by persistent losses and significant ongoing cash burn despite currently low leverage. Technicals are a positive offset with price strength above key moving averages and positive MACD, but high volatility (beta) increases risk. Valuation is also limited by negative earnings and no provided dividend yield.
To see Spark’s full report on TSE:SGN stock, click here.
More about Scorpio Gold
Scorpio Gold Corp. is a Canadian mineral exploration and development company focused on gold projects in Nevada, including the Manhattan District. The company targets high-grade, near-surface gold mineralization within a broader 8.5-kilometre structural corridor, aiming to expand its resource base through systematic diamond drilling programs.
Average Trading Volume: 510,233
Technical Sentiment Signal: Buy
Current Market Cap: C$105.8M
For detailed information about SGN stock, go to TipRanks’ Stock Analysis page.