Scorpio Gold Launches Drilling Program at Manhattan District

Scorpio Gold ( (TSE:SGN) ) has issued an announcement.

Scorpio Gold has initiated a Phase One diamond drilling program at its Manhattan District in Nevada, aiming to complete 3,400 meters across 12 holes. The company plans to release an initial resource estimate in Q3 2025, incorporating a significant amount of historical data. This drilling phase targets three key areas: the Gap Zone, the Zanzibar Trend, and Mustang Hill, with the goal of expanding the resource base and confirming the district’s potential as a multi-million-ounce gold asset. The announcement marks a strategic move to consolidate and unlock the district’s potential, with initial assay results expected in July.

Spark’s Take on TSE:SGN Stock

According to Spark, TipRanks’ AI Analyst, TSE:SGN is a Underperform.

Scorpio Gold’s overall stock score is heavily influenced by its challenging financial performance, characterized by significant losses and high debt, which severely impacts its financial health and outlook. While there are slight positive signals from technical analysis and corporate events, the negative valuation and lack of revenue overshadow these aspects. The company’s strategic moves for future growth provide a glimmer of hope, but substantial improvements are needed to enhance its stock performance.

To see Spark’s full report on TSE:SGN stock, click here.

More about Scorpio Gold

Scorpio Gold Corporation is a mining company that holds a 100% interest in two past-producing projects, the Manhattan District and the Mineral Ridge Mine, both located in the Walker Lane Trend of Nevada, USA. The company focuses on gold exploration and production, leveraging historical data and assets to enhance its resource base.

Average Trading Volume: 401,774

Technical Sentiment Signal: Buy

Current Market Cap: C$47.59M

For a thorough assessment of SGN stock, go to TipRanks’ Stock Analysis page.