Scorpio Gold Corporation's Joint Venture Partner Reports Intercept of 13.4 g/t Gold over 10 Metres from Initial Reconnaissance Drilling at Cochrane Hill



    TSX:SPM

    VANCOUVER, Nov. 28 /CNW/ - Scorpio Mining Corporation (TSX:SPM) is
pleased to announce that 93% owned subsidiary, Scorpio Gold Corporation's
("Scorpio Gold") joint venture partner, Atlantic Gold NL ("ATV"), has reported
the first assay results from its initial reverse circulation (RC) drilling
program on Scorpio Gold's 100% owned Cochrane Hill gold property located in
Nova Scotia, which is currently under option to ATV.
    Scorpio is pleased to provide a summary of results released on November
21, 2007 by its partner, ATV, at the Cochrane Hill deposit in Nova Scotia.

    RC Drilling Program

    ATV has reported first assay results from its initial reverse circulation
(RC) reconnaissance drilling program designed to test the mineralised shear
zone as projected over 5 km to the east and west of the defined gold resource.
Six fences of shallow-depth, angled 3 1/2" RC holes were drilled at nominal
400-m spacing along the mineralised zone that was identified by previous
exploration data. Assay results, from nominal 4.0-m composites, have been
received from the first three fences of holes located to the west of the
resource (Table 1).
    For quick analytical turnaround, preliminary samples were taken as hand
grabs over nominal 4.0-m composites from 1.0-m bagged RC chips. These initial
results should be considered preliminary and indicative only. Riffle splitting
of 1.0-m individual samples comprising the mineralised composites is underway
to secure definitive results. Sampling quality is reported to be excellent
with all samples dry and of similar size.
    Best results have been returned from Section 2125E, which is located
about 600 m west of the western end of the Cochrane Hill resource. On this
section, hole CHRC-07-019 intersected 13.4 g/t gold over 10.0 m at 3.0 m
downhole depth, (including 63.7 g/t gold over 2.0 m at 3.0 m downhole depth).
Beneath that hole, CHRC-07-020 intersected 8.0 g/t gold over 7.0 m from 15.0 m
downhole depth to the end of the hole. The intervening hole, CHRC-07-018,
returned only modest results, reflecting the coarse nature and erratic
distribution of gold within the mineralization. The nearest drilling to this
section is 350 m to the west and 450 m to the east.
    Mineralisation at Cochrane Hill is hosted within an estimated 10-m wide,
south dipping zone of greywacke containing quartz veins and associated
sulphides.
    The best result obtained from Section 1775E is an intersection of 3.0 g/t
gold over 4.0 m (composite) from 17 m downhole depth (hole CHRC-07-014). No
significant assays were returned from Section 1350E at the western end of the
property, despite its location beneath a trench noted by previous explorers to
be mineralised. Assays for the three RC drill fences east of the resource are
pending.
    Permitting for line clearing on 100-m spaced gridlines east and west of
Section 2125E is currently in process). This will allow infill RC (and
diamond) drilling along strike of this new mineralised structure. In addition,
drilling is proposed to the north and south of the structure to test for
parallel gold-bearing structures.

    
    Table 1.  RC Drilling Results - Cochrane Hill Deposit Extensions

           ---------------------------------------------------------
           Hole No.     Section     From       To   Length     Gold
                                     (m)      (m)      (m)    (g/t)
           ---------------------------------------------------------
           CHRC-07-014    1775E    17.00    21.00     4.00     3.00
           ---------------------------------------------------------
           CHRC-07-019    2125E     3.00    13.00    10.00    13.40
           ---------------------------------------------------------
              Includes              3.00     5.00     2.00    63.70
           ---------------------------------------------------------
           CHRC-07-020    2125E    15.00    24.00     9.00     6.20
           ---------------------------------------------------------
              Includes             15.00    19.00     4.00    12.20
           ---------------------------------------------------------
    

    Assaying of Previously Un-Sampled Core

    ATV also reported that they have been assaying previously un-sampled
sections of historic diamond drill core from holes that define the current
resource at Cochrane Hill (Table 2). These un-sampled sections were ascribed a
zero grade for resource estimation purposes. ATV reports that the
intersections from holes re-tested to date have returned, on average,
approximately a 25% increase in grade to those that are reflected in the
published resource estimate.

    
    Table 2.  Re-Assaying and Assaying of Previously Un-sampled Drill Core -
    Cochrane Hill Deposit

    -------------------------------------------------------------------------
     Hole No.     From       To  Length    Original Assays        New Assays
                   (m)      (m)     (m)   (with un-assayed   (gaps infilled)
                                          gaps) Gold (g/t)        Gold (g/t)
    -------------------------------------------------------------------------
    CH-74-002    69.10    99.05   29.95         3.74                4.43
    -------------------------------------------------------------------------
    CH-74-004   102.10   137.05   34.95         1.65                1.87
    -------------------------------------------------------------------------
    CH-74-023    72.85   105.00   32.15         2.08                2.79
    -------------------------------------------------------------------------
    CH-74-024    89.45   110.35   20.90         0.72                0.84
    -------------------------------------------------------------------------
    CH-74-026     8.00    38.40   30.40         1.23                1.84
    -------------------------------------------------------------------------
    CH-74-028    12.35    37.00   24.65         1.64                1.79
    -------------------------------------------------------------------------
    CH-74-029    12.95    35.00   22.05         0.91                1.18
    -------------------------------------------------------------------------
    CH-74-030    11.75    35.00   23.25         0.99                1.38
    -------------------------------------------------------------------------
    CH-74-031   121.45   135.65   14.20         0.59                2.17
    -------------------------------------------------------------------------
    CH-74-034    60.50    68.00    7.50         2.96                3.26
    -------------------------------------------------------------------------
    CH-74-039    53.80    75.13   21.33         0.00                1.10
    -------------------------------------------------------------------------
    CH-81-047   115.50   124.51    9.00         0.11                1.42
    -------------------------------------------------------------------------
                140.05   155.15   15.10         2.04                2.40
    -------------------------------------------------------------------------
    CH-81-059   128.45   166.75   38.30         2.44                2.98
    -------------------------------------------------------------------------
    

    Drill hole data in Tables 1 and 2 reflect downhole core lengths and
actual (uncut) grades. True widths cannot be reliably estimated at this time.
    The Cochrane Hill property covers a 5 km strike length of highly
prospective terrain, which includes the above-mentioned gold mineral resource.
ATV is earning a majority interest in the property by incurring expenditures
of C$4.75 million on exploration and development within 4 years, conditionally
extendable for a further 2 years, and making aggregate cash payments of
C $100,000 to the vendor, Scorpio Gold Corporation (SGC). At SGC's election
ATV will have then earned either a 60% Joint Venture interest (with SGC
retaining a 40% Joint Venture interest) or a 100% interest subject to a 20%
free carried interest retained by SGC. SGC is in the process of merging with
TSX-V listed BacTech Mining that will see the shareholders of SGC collectively
hold approximately 56% of BacTech's common shares.
    President, Mr. D. Roger Scammell, PGeo, is the Company's Qualified Person
for the Cochrane Hill project and has reviewed the technical information
provided in this release. ATV's exploration program at Cochrane Hill was
conducted under the supervision of Executive Director and "Competent Person"
under the Australasian JORC Code, Wally Bucknell, BSc. All samples were
processed and analysed at the ALS Chemex laboratory in Val d'Or Quebec. ALS
Chemex is ISO 9001:2000 accredited by the Standards Council of Canada. Further
information on the Company and the Cochrane Hill project is available on the
Scorpio Mining web site at: www.scorpiomining.com.

    ON BEHALF OF SCORPIO MINING CORPORATION

    Peter J. Hawley
    Chairman & CEO

    This news release includes certain statements that may be deemed
"forward-looking statements". All statements in this news release, other than
statements of historical facts, that address future exploration drilling,
exploration activities and events or developments that the Company expects,
are forward looking statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results or developments may differ materially from those in
forward-looking statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include metal prices,
exploration success, continued availability of capital and financing, and
general economic, market or business conditions.





For further information:

For further information: Glenn Little, Jackson Little Holdings Ltd:
(604) 930-4375, 1-888-930-4375, Email: jlconsulting@telus.net; Rich Kaiser,
YES International: 1-800-631-8127, 001-757-306-6090 (outside North America),
Email: yes@yesinternational.com

Organization Profile

Scorpio Mining Corporation

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890