Scorpion Minerals Limited (the Company; ASX: SCN) is pleased to provide results from recent rock chip sampling undertaken recently at its Pharos Project located approximately 50kms north west of Cue in the Murchison district.
The Company has an Option to Acquire 100% of two exploration tenements, E20/948 and E20/953 from Element 25 (ASX: E25) 1
During heritage clearance surveys in June, the Company undertook additional rock chip sampling of areas outside the known Beacon, Lantern and Candle prospect areas within the newly granted2 E20/948 tenement. Selective rock chip sampling of outcrop and workings, including quartz veins of various orientations in high priority zones was undertaken. Fifty-seven samples were taken for analysis by fire assay, with seventeen samples returning anomalous values above 150 ppb.
Highlights from rock chip samples include two high grade (10.5 g/t Au and 10.0 g/t Au) assays returned from undrilled workings 200m apart, at a prospect now named Salt Flat, 200m West of Cap Lamp.
A line of workings at Cap Lamp returned multiple high grade values from channel sampling of veining in the only easily accessible area, with a maximum value of 7.5 g/t Au, and an approximate average value of 2.1 g/t Au over approximately 5m length.
At Cap Lamp, the company has compiled additional historical drilling results which include RAB drilling highlights of 2m @ 5.5 g/t Au from 18m and various anomalous results.
The historical RAB drilling in the vicinity of these workings was not overlapping and is considered to have not adequately tested this area. Additional anomalous results were returned from stoped quartz veins at Oliver's (maximum assay 3.0 g/t Au, and from a working on P20/22533, where material returned a maximum value of 1.2 g/t Au.
The Company has now completed a heritage clearance survey at Atlanta, west of Beacon, where historical reconnaissance drilling returned a value of 5m @ 0.7 g/t Au (mineralised laterite). Historically this has not been followed up and will now be one of the targets tested in the planned RC drilling programme.
The Company considers that the Beacon, Candle, Lantern and newly outlined prospects such as Cap Lamp and 'Salt Flat' areas contain multiple quartz vein targets similar to 'Day Dawn' style mineralisation, and is highly encouraged by the open-ended nature of the current prospects. Planning for an RC drilling programme is underway and will initially focus on several lines at a 40m x 40m grid spacing to around 100m depth targeted at the high grade mineralisation at the Lantern prospect. In addition, RC drilling will be completed to test zones at Candle, Beacon, Cap Lamp, Salt Flat, Oliver's and Atlanta.
The programmes at Lantern, Candle, Beacon and Atlanta will commence once Heritage clearance is received. A Programme of Works (PoW) application for the Cap lamp and Salt Flat Area is currently being prepared and drilling will commence once approval is granted. PoW approval has been received for Lantern, Candle, Beacon and Atlanta.
Contact:
Craig Hall
Tel: +61 8 6241 1877
Forward Looking Statements
Scorpion Minerals Limited has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. To the maximum extent permitted by law, none of Scorpion Minerals Ltd, its Directors, employees or agents, advisers, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it. This announcement may contain forward looking statements that are subject to risk factors associated with exploration, mining and production businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimations, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimate.
SCORPION MINERALS LIMITED 
