Pharos Project Drilling Set to Test Historic Gold Intercepts up to 42.4 g/t

Pre-Drilling Exploration Completes at Pharos

Scorpion Minerals Limited (ASX, SCN) has wrapped up an intensive pre-drilling exploration campaign at its Pharos Gold Project, located in the Murchison Gold Province of Western Australia. The technical team conducted comprehensive field evaluations, including rock chip sampling, resampling and relogging of historic reverse circulation (RC) drill holes, and detailed structural assessments to better understand controls on gold mineralisation.

These efforts have refined multiple drill targets across key prospects such as Oliver’s Patch, Cap Lamp, Salt Flat, Lantern, and Candle. Notably, targeted metal detecting near the northern extension of Cap Lamp recovered visible gold specimens, underscoring the prospectivity of the area.

RC Drilling Ready to Commence

Following rig maintenance and pre-mobilisation preparations, the RC drilling contractor is on standby, ready to deploy immediately after a forecasted rain event in the Murchison region. The drilling program is designed to test several walk-up high-grade gold targets, with historic intercepts including impressive grades such as 8 meters at 10.99 grams per tonne (g/t) gold and 2 meters at 42.4 g/t gold at Lantern, and 5 meters at 8.28 g/t gold at Cap Lamp.

Drilling is expected to cover approximately 1,500 meters and be completed by late June, with assay results anticipated within 4 to 6 weeks thereafter. This campaign aims to follow up on multiple historic high-grade results and explore extensions of known mineralisation zones.

Strategic Positioning Along a Major Shear Corridor

Scorpion Minerals holds the largest landholding along the Dalgaranga–Big Bell shear corridor, a structurally significant zone that remains largely underexplored. This corridor hosts several historic gold deposits and is considered highly prospective for shear-hosted lode-style gold mineralisation. The company’s strategic acquisition of this tenure positions it well to capitalise on the region’s exploration potential.

In addition to drilling, Scorpion plans to undertake detailed geological mapping, systematic soil geochemistry, and a 50-meter line spaced airborne magnetic survey to further delineate targets and understand the structural framework controlling mineralisation.

Strong Financial Position Supports Exploration Momentum

Scorpion remains well funded following a recent $1.5 million share placement and a $200,000 drill-for-equity arrangement, providing the financial flexibility to accelerate exploration activities over the coming months. CEO Michael Fotios expressed confidence in the company’s ability to extract maximum value from its assets amid a supportive gold price environment and highlighted ongoing efforts to assess additional consolidation opportunities in the region.

With a steady flow of market updates expected as fieldwork progresses, investors will be watching closely for assay results and drilling outcomes that could validate the high-grade potential indicated by historic data and recent exploration.