What’s Next for Scorpion Minerals After New Sampling at Pharos Gold Project?

Exploration Momentum Builds at Pharos Gold Project

Scorpion Minerals Limited (ASX, SCN) has provided a comprehensive update on its ongoing exploration activities at the Pharos Gold Project, located in the Murchison Gold Province of Western Australia. Following the completion of reverse circulation (RC) drilling in late July, the company’s technical team has conducted an extensive field sampling program aimed at refining targets and understanding the structural controls on mineralisation.

The recent fieldwork included the collection of 190 rock chip samples and the riffle splitting and resampling of 38 historic RC drill holes. Particular attention was given to the Olivers Patch Prospect area, where clusters of gold nuggets have been discovered by prospectors over the years. These nuggets, some weighing up to 800 grams, suggest the presence of high-grade gold mineralisation, prompting targeted sampling to identify their source.

Assay Results and Next Steps

While assay results from the July drilling campaign have been delayed due to laboratory backlogs, Scorpion expects to receive and report these results imminently. These assays will be critical in guiding the next phase of exploration, which includes a planned follow-up RC drilling campaign of approximately 1,500 metres. This drilling will focus on testing multiple historic high-grade gold intersections at the Lantern, Candle, and Candle North prospects.

In addition to drilling, the company plans detailed geological mapping at a 1, 5,000 scale and a 50-metre line spaced airborne magnetic survey. These efforts aim to enhance the lithostructural interpretation of the project area, which is crucial for understanding the controls on mineralisation and identifying new targets.

Strategic Landholding Along a Major Shear Corridor

Scorpion Minerals has secured the largest landholding along the Dalgaranga–Big Bell shear corridor, a significant structural feature known for hosting gold deposits but historically underexplored. This strategic position offers the company a substantial opportunity to discover new mineralisation zones within a highly prospective geological setting.

The Pharos Project itself covers 924 square kilometres and is prospective not only for gold but also for copper, zinc, cobalt, silver, lithium, and platinum group elements associated with nickel and copper. The project includes the Mt Mulcahy deposit, which hosts a JORC-compliant resource with notable grades of copper, zinc, cobalt, and silver.

Balancing Historical Data with Modern Exploration

Scorpion’s exploration strategy integrates historical data from previous explorers and mining companies with modern sampling and drilling techniques. The company acknowledges the nuggetty nature of some gold mineralisation, which can pose sampling challenges and affect grade continuity. Nonetheless, the visual confirmation of native gold nuggets and the systematic approach to sampling and structural analysis provide a solid foundation for advancing the project.

CEO Michael Fotios emphasized the company’s proactive stance, “We have remained active in the field, focusing on exciting targets following our recent drilling. Although assay delays have been frustrating, we are confident the upcoming results will provide valuable insights to guide our next steps.”