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Scorpion Minerals Limited (ASX:SCN)

ALERT: Price-sensitive ASX Announcement for SCN
Current share price for SCN : $0.026 -0.004 (-13.33%)+
Announcement
Release
6 May 2026 9:42AM
Price at Release
$0.030
Full Release
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Summary
Scorpion Minerals Limited has announced a new gold exploration target at the Old Prospect Zone within its Pharos Gold Project in the Murchison region of Western Australia. The exploration target suggests potential gold mineralisation between 1.0 and 3.0 million tonnes grading at 1.5 to 2.0 g/t Au. The Old Prospect North and South have a combined JORC 2012 compliant Mineral Resource Estimate of 312,400 tonnes grading 2.15 g/t Au for 21,600 ounces. The site indicates significant upside with mineralisation open at depth and along strike. Scorpion has planned a drilling campaign to expand and refine the mineral resource. Additionally, the company is pursuing strategic collaboration with Gylden Resources for processing options at the Kirkalocka plant.
Key Points
  • New gold exploration target identified at Old Prospect within the Pharos Project, Western Australia.
  • Old Prospect estimated to have 1.0 – 3.0 million tonnes grading at 1.5 – 2.0 g/t Au.
  • Combined JORC 2012 compliant Mineral Resource Estimate of 312,400t grading 2.15 g/t Au for 21,600 ounces of gold at Old Prospect North and South.
  • 72% of the gold resource is in the Indicated Resource category.
  • Significant gold mineralisation demonstrated along a 700m strike length and open at depth.
  • Scorpion has the largest landholding along the Dalgaranga–Big Bell shear corridor.
  • A follow-up drilling campaign is planned to extend and infill the existing drilling.
  • Strategic MOU with Gylden Resources for mine development and processing at Kirkalocka plant.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.