Scorpion Metals Limited (ASX:SCN) are an Australian mineral exploration and resource development company with a focus on creating wealth for shareholders through the discovery of world-class deposits, over a diversified range of minerals. Our current efforts are centred on our Pharos Project, located in the Murchison Province of Western Australia.
The Pharos Project consists of 442 km2 of granted tenure plus an ELA20 covering 198 km2, located northwest of the small mining town of Cue (approximately 50 km) in the Murchison Mineral Field. The project is easily accessible from the Great Northern Highway by the sealed Jack Hills Mine access road and then by unsealed tracks. Scorpion holds a 100% interest in the project.
The project is prospective for gold, iron ore, PGE-Ni-Cu and VMS hosted Cu-Zn-Ag Au mineralisation, and contains the Mt Mulcahy deposit. The ‘South Limb Pod’ zone of mineralisation at Mt Mulcahy contains a JORC 2012 Measured, Indicated and Inferred Resource of 647,000 tonnes @ 2.4% copper, 1.8% zinc, 0.1% cobalt and 20g/t Ag.
The following activities are planned to take place at Pharos for the remainder of the calendar year. The multi-commodity targets are 100% owned by Scorpion and are in addition to the iron ore targets that are the subject of an option agreement with Fenix Resources Ltd (see here). The Company will provide further updates on the proposed JV in due course.