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Scorpio Gold ( (TSE:SGN) ) just unveiled an announcement.
Scorpio Gold reported new Phase Two drill results from its Manhattan District Project in Nevada, highlighted by hole 26MN-048, which intersected 28.35 metres grading 1.25 g/t gold from 124.75 metres and 49.23 metres grading 0.59 g/t gold higher in the hole. These intercepts, along with high-grade intervals from hole 26MN-047 and mineralization confirmed in hole 26MN-046, lie outside the current inferred resource constraining pit and demonstrate both vertical continuity and along-strike potential along the caldera margin.
The company says these results validate its structural model targeting the faulted contact between caldera volcanics and the Zanzibar Formation, convert previously uncategorized mineralization, and extend the system down-dip, reinforcing the prospectivity of the caldera-hosted corridor. With 47 holes now completed in Phase Two and assays pending on nine additional step-out holes, Scorpio Gold is positioning Manhattan for potential resource expansion while signalling to investors a methodical, data-driven approach to building project scale.
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 precious metals exploration and development company focused on advancing gold projects in Nevada, U.S. Its core assets include the Manhattan District Project and the nearby Goldwedge area, where it targets volcanics and sedimentary host rocks to expand mineral resources and build scale in a prolific historic mining district.
Average Trading Volume: 584,019
Technical Sentiment Signal: Buy
Current Market Cap: C$172.5M
See more data about SGN stock on TipRanks’ Stock Analysis page.