Update on Olivers Patch Gold Prospect in WA

Scorpion Minerals Limited (ASX:SCN) has confirmed the discovery of specimen gold at the Olivers Patch Gold Prospect in the Murchison Mineral Field, Western Australia. The discovery, made by prospectors operating under Section 40E permits, indicates strong gold potential within the broader Pharos Project area. The strategic review of gold targets is underway, and planned exploration activities include geological mapping, auger-assisted soil geochemistry, and follow-up drill testing.

Executive Commentary on Gold Discovery

Scorpion's CEO Michael Fotios expressed the company's pleasure in reporting the significant discovery of gold nuggets at Olivers Patch. The discovery highlights the strong gold potential within the Pharos Project, especially considering the ineffectiveness of historical surface soil and lag sampling surveys in identifying gold anomalism in the area. The company suspects that wide sample spacing and the presence of surface transported cover material may have masked the bedrock, indicating the area's high prospectivity for gold mineralisation under shallow cover.

Summary of Specimen Gold Discovery

Scorpion Minerals Limited (ASX:SCN) has confirmed the discovery of specimen gold at the Olivers Patch Gold Prospect, demonstrating strong gold potential within the broader Pharos Project area. The strategic review of gold targets is underway, and planned exploration activities include geological mapping, auger-assisted soil geochemistry, and follow-up drill testing. The discovery of gold nuggets by prospectors highlights the prospectivity for gold mineralisation under shallow cover, indicating promising opportunities for Scorpion's future exploration and development efforts within the Pharos Project.