The KE Report

Scorpio Gold - Shifts Focus to Manhattan District, Nevada: US$7.5M Asset Sale, Upsized Drill Program

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In this KE Report company update, Scorpio Gold CEO Zayn Kalyan outlines the company’s strategic transformation: divesting the Mineral Ridge Project for US$7.5 million and ramping up exploration at the Manhattan District in Nevada.

Key Interview Highlights:

Sale of Mineral Ridge Project:

  • Total consideration of US$7.5M, paid in stages:
    • $700K deposit (due immediately)
    • $4.3M at closing (expected by August 25)
    • $2.5M in deferred payments over 12 months
    • Decision driven by high holding costs and limited near-term value without significant mill investment

      • Drilling Focus at Manhattan:

      • Phase 1: 6,300 meters nearly complete
      • New goal: 15,000 meters by year-end
        • Second rig arriving in September, potential for a third
        • Focused on the “gap zone” between Goldwedge and West Pit
        • Targeting 200,000–300,000 ounces from this core zone

          • Catalysts on Deck:

          • Initial NI 43-101 Resource Estimate coming soon
          • Drill results imminent
          • Targeting >2 million ounces within 12–18 months
          • Resource will incorporate 140,000 meters of historic drilling across 1,800+ holes

            • Team Strengthening:

            • Leo Hathaway, of Lumina Group fame, joins as Director and on the technical team
            • Helping guide technical strategy and long-term development

              • Click here to visit the Scorpio Gold website to learn more about the Company.

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