Scorpio Gold finds wide gold intercepts at Nye County Black Mammoth project

Wide gold intercepts at Scorpio Gold Corp.’s Black Mammoth project could eventually mean more drilling contractors, more land-use pressure and a larger economic footprint around Round Mountain, but the project is still at the stage where assays matter more than ounces in the ground.

The company said hole 26MN-069 returned 0.62 grams of gold per tonne over 62.21 metres from 230.43 metres, including a higher-grade interval of 3.17 grams per tonne over 4.94 metres. Hole 26MN-072 cut 6.04 grams per tonne over 4.86 metres from 308.23 metres, including 15.99 grams per tonne over 1.78 metres, and also returned 0.91 grams per tonne over 15.79 metres from 368.65 metres, including 16.43 grams per tonne over 0.73 metres.

Those results followed the first two Black Mammoth holes, 25MN-053 and 25MN-057, which returned 0.75 grams per tonne over 24.69 metres from 230.12 metres and 1.02 grams per tonne over 40.23 metres from 195.68 metres, respectively. Scorpio Gold said Black Mammoth sits in volcanics of the Manhattan Caldera, the same broad geological setting it points to at the nearby Round Mountain Gold Mine.

That comparison matters in Nye County because Round Mountain is not a speculative benchmark. Kinross Gold Corporation said the mine poured its 15 millionth ounce of gold in 2018, and its 2021 reserves were 3.037 million ounces with measured and indicated resources of 2.989 million ounces. Round Mountain, discovered in 1906, has long been one of Nevada’s best-known gold districts.

Scorpio Gold is trying to tap that legacy without overpromising on what drill holes alone can deliver. The company’s Sept. 11, 2025 maiden mineral resource estimate for the broader Manhattan District outlined 740,000 inferred ounces at 1.26 grams per tonne in the Goldwedge and Manhattan Pit areas. A historical estimate for satellite deposits including Black Mammoth, April Fool, Hooligan, Keystone and Jumbo totaled 303,949 ounces at 5.89 grams per tonne.

The company said its Phase Two drill program now includes 79 holes totaling 23,065 metres, with assays reported on 60 holes totaling 19,694 metres and 19 holes still pending over 3,371 metres. Scorpio Gold is targeting more than 2 million ounces through 50,000 metres of drilling, a scale that would require far more than promising intercepts before any mine plan could be built.

For Nye County, the next milestones are clear: the remaining assays, whether more holes continue to define continuity at Black Mammoth, and whether Scorpio Gold can convert inferred ounces into a larger resource that would justify development. Until then, the story is still exploration, but it is exploration aimed squarely at one of Nevada’s most proven gold belts.