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The latest update is out from Scorpion Minerals Limited ( (AU:SCN) ).
Scorpion Minerals has secured an exclusive option to acquire 100% of the Old Prospect North and South tenements from Ozz Resources, consolidating ownership over a highly prospective 5km trend from Cap Lamp to Middle Bore within its Pharos Gold Project. The Old Prospect area hosts a JORC 2012-compliant mineral resource of 312,400 tonnes at 2.15 g/t gold for 21,600 ounces, 72% of which is in the Indicated category, supported by multiple high-grade historic drill intercepts and mineralisation that remains open along strike and at depth; Scorpion plans follow-up drilling to infill and extend the known 650-metre mineralised zone. Together with its recent MOU giving access to Gylden Resources’ 2.1Mtpa Kirkalocka processing plant, the acquisition strengthens Scorpion’s strategic position as a leading gold explorer in the Murchison, enhances its potential development pathway for Pharos, and may improve the project’s attractiveness and optionality for shareholders and regional stakeholders.
More about Scorpion Minerals Limited
Scorpion Minerals Limited is an ASX-listed gold exploration company focused on the Pharos Gold Project and adjacent Jungar Flats JV in Western Australia’s Murchison region. The company has built the largest landholding along the underexplored Dalgaranga–Big Bell shear corridor, targeting high-grade gold mineralisation with a view to future development and processing options through regional infrastructure partnerships.
Average Trading Volume: 1,554,934
Technical Sentiment Signal: Sell
Current Market Cap: A$13.2M
See more data about SCN stock on TipRanks’ Stock Analysis page.