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The latest announcement is out from Scorpion Minerals Limited ( (AU:SCN) ).
Scorpion Minerals has strengthened its district-scale footprint in Western Australia’s Murchison region by securing an option to acquire the Old Prospect gold tenements from Ozz Resources, adding a JORC-compliant resource of 21,600 ounces at 2.15 g/t gold to its Pharos Project. The company has also expanded its landholding along the Dalgaranga–Big Bell shear corridor and obtained new exploration licences near the Kirkalocka processing plant, consolidating its role as a key regional player.
The explorer is preparing an intensive drilling program of about 7,000 metres at Old Prospect to infill and extend mineralisation over a 650-metre zone and support an updated resource and mining studies. Parallel talks with Gylden Resources on processing access at the 2.1Mtpa Kirkalocka plant and broader collaboration, combined with a renewed focus on lithium assets, aim to create multiple development pathways and optionality for future production and exploration upside.
More about Scorpion Minerals Limited
Scorpion Minerals Limited is an Australian exploration company focused on gold, lithium and base metals in the Murchison Mineral Field of Western Australia. Its flagship 100%-owned Pharos Project spans about 900km2 northwest of Cue and is prospective for gold, lithium, PGE-Ni-Cu, iron ore and VMS-hosted copper-zinc-silver-gold mineralisation.
Average Trading Volume: 422,523
Technical Sentiment Signal: Sell
Current Market Cap: A$16.81M
See more insights into SCN stock on TipRanks’ Stock Analysis page.