Market Alert: ASX200 at Critical Support – Reversal or Further Fall?
Scorpion Minerals Limited (ASX: SCN) is set to begin drilling at its Pharos Gold Project and Jungar Flats JV in Western Australia's Murchison region. The Jungar Flats Project extends the company's landholding along the highly prospective Big Bell–Dalgaranga shear corridor. The recent capital raising will accelerate the exploration of high-grade targets and support strategic acquisitions.
Drilling will start in late March, with assays expected in April. Key targets include Cap Lamp, Lantern, and Candle, with historic intercepts such as 12m @ 7.40 g/t Au from 44m at Lantern. Scorpion has expanded its Murchison footprint to 1600km through a farm-in agreement with E79 Gold Mines (ASX: E79). The company remains well-funded following an AU$ 1.5 million share placement and an AU$ 200 K drill-for-equity deal. With record gold prices and increased regional exploration, Scorpion is positioned to leverage its extensive landholding for further discoveries and growth.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
