Scorpio Gold Corporation (TSX-V:SGN) a Canadian-based gold producer.announces its operating results for the third quarter ("Q3") of 2015 at its 70% owned Mineral Ridge project, located in Nevada.
Mineral Ridge is a conventional open pit heap leach operation, located 6 km northwest of the town of Silver Peak and 56 km west of Tonopah in Esmeralda County, Nevada. The property is host to multiple gold-bearing structures, veins and lenses at exploration, development and production levels.
Production results for the third quarter in 2015 at Mineral Ridge totalled 9,497 ounces of gold and 4,927 ounces of silver. Gold production for the first nine months of 2015 totals 30,187 ounces, representing a decrease of 1.2% over the same period in 2014.
Peter J. Hawley, President & CEO Scorpio Gold Corporation , said "Gold production at the Mineral Ridge operation for the first nine months of 2015 is comparable with the Company's performance in the same period in 2014.
An unexpected loss of one of the four mine production drills in early August 2015 resulted in a shortfall of budgeted mining production during the third quarter. This has been rectified with the recent addition of a new production drill and moving to a 24-hour per day drilling schedule to partly compensate for lost production.
In addition, a backup production drill will be added to site within the coming weeks. Production in quarter 4 is expected to remain on target for scheduled mining performance.
"Due to the shortfall in mining production in quarter 3 2015, the Company has
revised its production forecast to 38,000 to 40,000 ounces of gold at
Mineral Ridge in 2015."
This Is The Operating Data In Scorpio Gold Corporation
Key Operating Statistics
| Three Months Ending Sep 30 | Nine Months Ending Sep 30 | |||||||||
| 2015 | 2014 | Change | 2015 | 2014 | Change | |||||
| Mining operations | ||||||||||
| Mary pit | ||||||||||
| Ore tonnes mined | 5,695 | 130,145 | -95.6% | 202,002 | 302,287 | -33.2% | ||||
| Waste tonnes mined | 10,311 | 564,727 | -98.2% | 1,053,992 | 1,592,599 | -33.8% | ||||
| Total mined | 16,006 | 694,872 | -97.7% | 1,255,994 | 1,894,886 | -33.7% | ||||
| Strip Ratio | 1.8 | 4.3 | -58.1% | 5.2 | 5.3 | -1.9% | ||||
| Mary LC pit | ||||||||||
| Ore tonnes mined | 83,577 | - | 100.0% | 83,577 | - | 100.0% | ||||
| Waste tonnes mined | 941,334 | - | 100.0% | 941,334 | - | 100.0% | ||||
| Total mined | 1,024,911 | - | 100.0% | 1,024,911 | - | 100.0% | ||||
| Strip Ratio | 11.3 | - | 100.0% | 11.3 | - | 100.0% | ||||
| Satellite pits | ||||||||||
| Ore tonnes mined | 127,546 | - | 100.0% | 241,665 | - | 100.0% | ||||
| Waste tonnes mined | 990,728 | - | 100.0% | 1,276,601 | - | 100.0% | ||||
| Total mined | 1,118,274 | - | 100.0% | 1,518,266 | - | 100.0% | ||||
| Strip Ratio | 7.8 | - | 100.0% | 5.3 | - | 100.0% | ||||
| Drinkwater pit | ||||||||||
| Ore tonnes mined | - | 74,343 | -100.0% | - | 395,177 | -100.0% | ||||
| Waste tonnes mined | - | 110,401 | -100.0% | - | 834,938 | -100.0% | ||||
| Total mined | - | 184,744 | -100.0% | - | 1,230,115 | -100.0% | ||||
| Strip Ratio | - | 1.5 | -100.0% | - | 2.1 | -100.0% | ||||
| Total producing pits | ||||||||||
| Ore tonnes mined | 216,818 | 204,488 | 6.0% | 527,244 | 697,464 | -24.4% | ||||
| Waste tonnes mined | 1,942,373 | 675,128 | 187.7% | 3,271,927 | 2,427,537 | 34.8% | ||||
| Total mined | 2,159,191 | 879,616 | 145.5% | 3,799,171 | 3,125,001 | 21.6% | ||||
| Strip Ratio | 9.0 | 3.3 | 172.7% | 6.2 | 3.5 | 77.1% | ||||
| Pits under development | ||||||||||
| Ore tonnes mined | - | 29,386 | -100.0% | 92,146 | 36,301 | 153.8% | ||||
| Waste tonnes mined (pre-stripping) | - | 793,866 | -100.0% | 1,995,432 | 1,462,424 | 36.4% | ||||
| Total mined | - | 823,252 | -100.0% | 2,087,578 | 1,498,725 | 39.3% | ||||
| Total mining operations | ||||||||||
| Ore tonnes mined | 216,818 | 233,874 | -7.3% | 619,390 | 733,765 | -15.6% | ||||
| Waste tonnes mined | 1,942,373 | 1,468,994 | 32.2% | 5,267,359 | 3,889,961 | 35.4% | ||||
| Total mined | 2,159,191 | 1,702,868 | 26.8% | 5,886,749 | 4,623,726 | 27.3% | ||||
| Processing | ||||||||||
| Tonnes processed | 213,957 | 276,857 | -22.7% | 626,980 | 768,703 | -18.4% | ||||
| Gold head grade (g/t) | 1.59 | 1.49 | 6.7% | 1.46 | 1.74 | -16.1% | ||||
| Ounces produced | ||||||||||
| Gold | 9,497 | 11,228 | -15.4% | 30,187 | 30,556 | -1.2% | ||||
| Silver | 4,927 | 4,911 | 0.3% | 14,837 | 13,795 | 7.6% | ||||
| Crusher throughput (tonnes per day) | 2,326 | 3,009 | -22.7% | 2,297 | 3,138 | -26.8% | ||||
| Recoverable(1) gold (ounces) placed on pad | 7,327 | 8,616 | -15.0% | 19,755 | 27,879 | -29.1% | ||||
(1) A weighted average metallurgical recovery factor has been applied to the estimated contained ounces crushed and placed on the leach pad based on the pit from which the ore was mined.
Source : Scorpio Gold Corporation
