Scorpio Gold Stock Price, News & Analysis

Scorpio Gold Corp. (OTCQB: SRCRF; TSXV: SGN; FSE: RY9) is a gold exploration and development company focused on the Manhattan District in Nevada, USA. The company is classified in the gold ore mining industry within the broader mining, quarrying, and oil and gas extraction sector. According to multiple company news releases, Scorpio Gold holds a 100% interest in the Manhattan District, located in the Walker Lane Trend of Nevada, and is advancing this historic gold camp through modern exploration and technical work.

The Manhattan District is described in Scorpio Gold’s disclosures as a late-stage exploration opportunity with extensive historical work. Company materials note that the consolidated land package is approximately 4,780 hectares and includes the advanced exploration-stage Goldwedge Mine, a gravity mill with a maximum capacity of 400 tons per day, and four past-producing open pits that were acquired from Kinross Gold Corporation in 2021. Historical mining in the district has included both placer and lode operations over many decades, and the company highlights the presence of valuable permitting and water rights associated with the consolidated project.

Manhattan District and Mineral Resource Estimates

Scorpio Gold reports that Manhattan lies roughly 20 kilometers south of the operating Round Mountain Gold Mine in Nevada and is road accessible. The company has emphasized that, for the first time, the district’s past-producing mines have been brought together under a single corporate owner. This consolidation has allowed Scorpio Gold to compile and digitize a large volume of historical data, including drilling, underground workings, and sampling, into a unified modern database for interpretation and targeting.

In a series of news releases, Scorpio Gold describes a maiden mineral resource estimate (Maiden MRE) for the Goldwedge and Manhattan Pit areas of the project, prepared in accordance with NI 43-101 Standards of Disclosure for Mineral Projects. The company states that this Maiden MRE is based on a substantial body of historical drilling and is entirely in the inferred category. The associated technical report, titled “Mineral Resource Estimate and NI 43-101 Technical Report, Manhattan Property, Nye County, Nevada,” is referenced as having an effective date of June 4, 2025. Scorpio Gold also discloses the existence of a historical mineral resource estimate (Historical MRE) covering the Black Mammoth, April Fool, Hooligan, Keystone, and Jumbo areas of Manhattan. The company notes that a Qualified Person has not done sufficient work to make the Historical MRE current and that it is not treating this historical estimate as a current mineral resource.

Across multiple announcements, the company characterizes the Manhattan deposit as a low-sulfidation, epithermal, gold-rich system situated adjacent to the Tertiary-aged Manhattan caldera in the Southern Toquima Range of Nevada. Scorpio Gold’s technical disclosures describe mineralization hosted in a variety of geological settings, including structural feeder zones, receptive sedimentary units such as argillites and phyllites, and contacts between caldera volcanics and older sedimentary rocks. The company’s drilling updates reference key structural features and trends, including the Reliance Trend, the Gap Zone between historic mines, the Mustang Hill area, and the West Pit and East Pit zones, as important controls on gold distribution.

Exploration Focus and Target Areas

Scorpio Gold’s news releases outline an active, multi-phase drilling strategy designed to expand and refine the mineralized footprint within the Manhattan District. Phase 1 and Phase 2 drilling programs are described as testing several priority zones:

• Goldwedge Mine and Goldwedge Deep – An advanced exploration-stage underground and open-pit target area within Ordovician carbonate rocks adjacent to the Manhattan caldera. Company disclosures indicate that Goldwedge hosts structurally controlled low-sulfidation epithermal gold mineralization and is included in the Maiden MRE.
• Gap Zone – A corridor between the historic Goldwedge underground workings and the West Pit, along the Reliance Fault. Scorpio Gold reports that this area represents roughly 200 meters of previously under-tested strike length and has been a key focus of recent drilling intended to demonstrate continuity of mineralization between existing resource areas.
• Reliance Trend – A structural trend extending northwest from the West Pit. Drill results released by the company describe broad zones of near-surface and deeper mineralization along this trend, with holes designed to step out from and infill around the existing inferred resource constraining pit.
• Mustang Hill – An area east of the West Pit that hosts historic underground workings, including the Mustang Hill and Thanksgiving mines. Company drilling has intersected gold mineralization near surface in this area, and Scorpio Gold identifies Mustang Hill as a key growth target that may connect with mineralized structures along the Reliance Trend.
• West Pit and West Pit Deep – Historic open-pit mine areas where Scorpio Gold is testing both lateral extensions and deeper targets along structures such as the Little Grey Fault. The company notes that the West Pit has been a major historic production center in the district and that deeper extensions have not yet been fully evaluated.
• Additional targets – Scorpio Gold has outlined numerous other targets across the district, including Hooligan, Black Mammoth, Mayflower Trend, Moriah, Stray Dog, Keystone Jumbo and others. Company communications describe these as representing a range of exploration stages, from target definition through to mineral resource estimate drilling.

Drilling Programs and Technical Work

In its news releases, Scorpio Gold details an ongoing, large-scale drilling effort. The company describes a Phase 1 diamond drilling program totalling several thousand metres, followed by a Phase 2 program planned to achieve a minimum of 50,000 metres of drilling through a combination of diamond core and reverse circulation holes. According to the company, Phase 2 is designed to:

• Systematically expand the mineral resource estimate to the northwest of the West Pit along the Reliance Trend.
• Continue delineating near-surface mineralization at Mustang Hill and expand the resource footprint to the southwest of the West and East pits.
• Advance the conversion of non-compliant historical resources, notably at the Keystone Jumbo high-grade target, into compliant mineral resource categories, subject to the requirements of NI 43-101.

Scorpio Gold’s technical disclosures emphasize the use of quality assurance and quality control (QA/QC) protocols, including the insertion of blanks, certified reference materials, and duplicates into sample batches, and analysis at an ISO 17025:2017-compliant laboratory using PhotonAssay methods for gold. The company notes that Qualified Persons, as defined under NI 43-101, have reviewed, verified, and approved the scientific and technical information in its releases, including verification of laboratory certificates, field logs, chain-of-custody records, and survey data.

Property Consolidation and Additional Assets

Scorpio Gold states that it has consolidated the Manhattan District’s past-producing mines under a single corporate entity, which it views as important for coordinating exploration and permitting. The company highlights that this consolidation includes permitting and water rights that are considered valuable for potential future project development. In addition to the core Manhattan land package, Scorpio Gold has disclosed transactions and property positions that relate to its broader Nevada strategy.

For example, the company reports that it completed the sale of its wholly owned subsidiary, Mineral Ridge Gold, LLC, and has begun receiving deferred payments associated with that transaction. Scorpio Gold also describes an option agreement on the Betty East Property in Nye County, Nevada, under which a wholly owned subsidiary has the option to acquire a 100% interest in a set of unpatented lode mining claims. The company indicates that Betty East is interpreted to be geologically contiguous with the southern portion of the Manhattan District and that it has staked additional claims between Betty East and its existing Manhattan land position to create continuous claim coverage across a favourable geological corridor.

Geological Setting and Exploration Data

Company disclosures provide extensive geological context for the Manhattan District. Scorpio Gold describes the project as located within a metallotect that hosts large gold deposits and notes that the district is characterized by structurally controlled low-sulfidation gold mineralization. Mineralization is reported in multiple host rocks, including Cambrian meta-sediments, Ordovician limestones, phyllites, argillites, and jasperoid bodies, with higher grades often associated with structural intersections, breccia bodies, and favourable lithological units.

Scorpio Gold reports that it and previous operators have generated a substantial dataset for the district, including more than 92,000 metres of historical drilling in over 1,300 drill holes within the Maiden MRE area, and additional drilling and sampling across satellite targets. The company states that it is digitizing and compiling historic hard-copy reports, production records, drill assays, rock samples, and soil geochemistry into a modern GIS database. This work is intended to support the development of a genetic model for gold mineralization that can be used to target extensions of known mineralization and generate new exploration targets across the district.

Stock Listing and Industry Classification

Scorpio Gold Corp. is listed on the TSX Venture Exchange under the symbol SGN, trades on the OTCQB market in the United States under the symbol SRCRF, and is also quoted on the Frankfurt Stock Exchange under the symbol RY9. Based on the descriptions in its public news releases, the company operates in the gold ore mining industry and is engaged in exploration and resource definition activities rather than reporting any current mineral reserves or production from Manhattan. The company’s communications consistently emphasize that mineral resources are not mineral reserves and do not have demonstrated economic viability, in line with NI 43-101 and CIM definitions.

FAQs about Scorpio Gold Corp. and SRCRF Stock

• What does Scorpio Gold Corp. do?
  According to its public news releases, Scorpio Gold Corp. focuses on gold exploration and resource definition in the Manhattan District of Nevada, USA. The company holds a 100% interest in this district-scale property, which includes the Goldwedge Mine, a gravity mill, and several past-producing open pits, and is advancing the project through drilling, technical studies, and compilation of historical data.
• Where are Scorpio Gold’s main projects located?
  Scorpio Gold states that its principal asset is the Manhattan District, located in the Walker Lane Trend of Nevada, USA, approximately 20 kilometers south of the operating Round Mountain Gold Mine. Within this district, key areas include the Goldwedge Mine, Manhattan Pit areas, Mustang Hill, the Gap Zone, the Reliance Trend, and several satellite targets such as Black Mammoth, Hooligan, Keystone, and April Fool.
• What is the status of the mineral resources at Manhattan?
  The company reports a maiden mineral resource estimate for the Goldwedge and Manhattan Pit areas, prepared in accordance with NI 43-101 and classified entirely as inferred. Scorpio Gold also discloses a historical mineral resource estimate for several satellite deposits, which it does not treat as current. The company emphasizes that mineral resources are not mineral reserves and do not have demonstrated economic viability, and that the historical estimate would require additional work by a Qualified Person to be upgraded to a current resource.
• How is Scorpio Gold exploring the Manhattan District?
  Scorpio Gold describes a multi-phase drilling program that includes both diamond core and reverse circulation drilling. Phase 1 drilling targeted the Gap Zone, Mustang Hill, and parts of the Reliance Trend, while Phase 2 is planned to include at least 50,000 metres of drilling focused on expanding the mineral resource estimate, testing near-surface mineralization at Mustang Hill, and working toward converting historical resources into compliant categories. The company also highlights ongoing data compilation and geological modeling as central to its exploration approach.
• What is the significance of the Goldwedge Mine and mill?
  Company disclosures identify the Goldwedge Mine as an advanced exploration-stage asset within the Manhattan District. It includes underground workings and a gravity mill with a maximum capacity of 400 tons per day. Goldwedge and the adjacent Manhattan Pit areas form the core of the Maiden MRE, and Scorpio Gold views this infrastructure, along with associated permits and water rights, as important components of the district’s potential.
• What does Scorpio Gold say about the historical mining in the Manhattan District?
  Scorpio Gold reports that the Manhattan District has a long history of gold production from both placer and lode operations, dating from the late 19th century through to the mid-2000s. The company notes that four historic high-grade resources—Keystone Jumbo, Hooligan, Black Mammoth, and April Fool—represent underexplored opportunities within the consolidated property and are covered by the historical mineral resource estimate prepared by a previous operator.
• How is Scorpio Gold’s Manhattan project regulated from a technical disclosure standpoint?
  In its news releases, Scorpio Gold states that its technical and scientific information is prepared and reviewed in accordance with National Instrument 43-101. Qualified Persons, as defined by NI 43-101, are identified as having reviewed and approved the technical content, including mineral resource estimates and drilling results. The company also clarifies the status of historical estimates and the limitations associated with them.
• On which exchanges does Scorpio Gold trade and under what symbols?
  Scorpio Gold Corp. is listed on the TSX Venture Exchange under the symbol SGN, on the OTCQB market in the United States under the symbol SRCRF, and on the Frankfurt Stock Exchange under the symbol RY9. These listings provide access to investors in Canada, the United States, and Europe who are interested in exposure to a Nevada-focused gold exploration company.