Scorpio Gold Announces Development of State-of-the-Art Core Processing & Storage Facility Through Strategic Divestiture of Manhattan Mill Assets

Core Insights - Scorpio Gold Corporation is implementing a strategic realignment of infrastructure at its Manhattan District project in Nevada to support a modern, centralized core processing, logging, and storage facility aimed at expanding exploration programs [1][2]. Infrastructure Development - The company plans to construct a geological facility that will enhance drill volumes, geological interpretation, and core management systems, freeing up space in an existing structure that is currently undersized for future operations [2][3]. - The objective is to establish infrastructure for efficient processing, analysis, and secure storage of drill core to support an aggressive exploration strategy [3][4]. Leadership Perspective - CEO Zayn Kalyan emphasized the need for modern infrastructure to scale exploration activities, stating that the investment in a centralized facility will enable higher drill volumes and improved geological modeling [4]. Facility Features - The planned facility will include centralized core receiving and processing areas, dedicated logging and sampling stations, expanded secure core storage, and integrated geological data capture systems [5][13]. Capital Reallocation - The company’s subsidiary, Goldwedge LLC, has entered into an asset purchase agreement with Manhattan Metals Corp. to sell certain mineral processing infrastructure for C$750,000, which will support the exploration focus [6][8]. Processing Assets Details - The processing assets include a permitted facility with a primary crusher and a milling circuit capable of processing approximately 400 tons per day, although these assets have not been operational in recent years [7][8]. Transaction Timeline - The sale transaction is scheduled to close on May 14, 2026, subject to customary closing conditions, including approval from the TSX Venture Exchange [9]. Marketing Engagement - Scorpio Gold has retained Mining Stock Education LLC for investor communication and marketing services, with a total compensation of US$120,000 over twelve months [10]. Historical Context - The Manhattan District has historically produced approximately 700,000 ounces of gold, with a maiden mineral resource estimate indicating 740,000 ounces of contained gold in the inferred category [11][12].