Pharos Project Drilling Set to Test Multiple Historic High-Grade Gold Zones

Pre-Drilling Exploration Wraps Up

Scorpion Minerals Limited (ASX – SCN) has announced the completion of its pre-drilling exploration activities at the Pharos Gold Project, located in the prolific Murchison Gold Province of Western Australia. The technical team undertook a comprehensive field evaluation, including rock chip sampling, resampling, and relogging of selected historic reverse circulation (RC) drill holes. This groundwork has refined multiple drill targets ahead of the imminent RC drilling campaign.

Notably, targeted metal detecting near the northern extension of the Cap Lamp prospect yielded visible gold specimens, a promising sign of near-surface mineralisation continuity. These specimens, ranging from 3mm to 9mm and weighing up to 1 gram, were recovered just below surface scree and are believed to be minimally transported, suggesting proximity to their source.

Drilling Program Ready to Commence

The company’s RC drilling contractor has completed rig maintenance and is on standby, poised to mobilise immediately after a forecasted rain event in the Murchison region. The drilling program is designed to test several high-grade gold targets identified from historic results and recent exploration work. Key prospects include Oliver’s Patch, Cap Lamp, Salt Flat, Lantern, and Candle, where previous drilling intersected significant gold grades such as 8 meters at 10.99 grams per tonne (g/t) gold at Lantern and 5 meters at 8.28 g/t gold at Cap Lamp.

Scorpion expects to complete approximately 1,500 meters of RC drilling by late June 2025, with assay results anticipated shortly thereafter. These results will be critical in validating the potential of these targets and guiding further exploration efforts.

Strategic Landholding and Funding Position

Scorpion Minerals holds the largest landholding along the Dalgaranga–Big Bell shear corridor, a structurally significant and historically underexplored gold belt. This strategic position enhances the company’s opportunity to discover new high-grade gold deposits in a region known for its rich mineral endowment.

Financially, Scorpion is well positioned to accelerate its exploration activities, having recently completed a $1.5 million share placement alongside a $200,000 drill-for-equity arrangement. This funding provides a solid runway for the company’s planned exploration programs, including detailed geological mapping, systematic soil geochemistry, and an airborne magnetic survey to complement drilling.

Looking Ahead

CEO Michael Fotios expressed confidence in the company’s prospects, highlighting the supportive gold price environment and ongoing assessment of consolidation opportunities in the region. As the drilling campaign unfolds, Scorpion plans to maintain a steady flow of market updates, keeping investors informed of exploration progress and discoveries.

With assay results pending and multiple high-grade targets poised for testing, the coming months will be pivotal for Scorpion Minerals as it seeks to unlock value from its extensive Murchison portfolio.