The Goldwedge property occurs in west-central Nevada where a series of Tertiary volcanic calderas have cut through a basement complex of lower Paleozoic sedimentary rocks. Gold deposits related to these calderas include the giant Round Mountain Mine (some 10 miles north of Goldwedge), as well as the Northumberland Mine of Newmont Mining Corp. While most of the mineralization at the Round Mountain Mine has been mined from Tertiary volcanic rocks, there is good mineralization in the underlying Gold Hill Formation, which is also a host of mineralization at Goldwedge.

Goldwedge occurs near the southwestern margin of the Manhattan caldera, and all known mineralization to date is hosted by a series of lower Paleozoic sedimentary rocks just outside the caldera boundary. The Caldera is believed to have provided significant structural preparation for the gold mineralization at Goldwedge, and age dating suggests that the mineralization is post-caldera. The deposit is hosted by the Ordovician Zanzibar Formation and the Cambrian Gold Hill Formation, where cut by a series of north-northwest -striking fractures and faults, especially the Reliance shear zone. This shear zone is closely associated with the good grade mineralization defined to date.

Mineralization consists of altered sedimentary host cut by complex anastomosing narrow shear zones with a combination of free gold and disseminated gold in the matrix of the rock. The substantial component of free gold allows for simple gravity recovery of a portion of the gold mineralization. The mineralization contains some very high grade intercepts, with the certain core portions of the mineralization grading in the 6.86 to 34.29 g/t (0.20 to 1.0 oz/ton) range.

Fully permitted/bonded underground mine with over 600 m of development.

Goldwedge project has a fully permitted mine and mill facility currently on care and maintenance. Mill facility with gravity circuit permitted for 400 tpd; currently on care and maintenance and available for toll milling.

Scorpio Gold completed extensive refurbishment and modifications to the 400 tpd Goldwedge plant and surrounding infrastructure in 2013. Batch processing of high-grade ore from Mineral Ridge was undertaken in 2014 to optimize the milling circuit for recovery of coarse gold.

On July 22, 2022, the Company received final determination from Nevada Department of Environmental Protection on Water Pollution Control Permit NEV2002107.

This allows the Company to move forward with planned modifications to the existing Mill Facility to move to a Flotation System, enhancing the existing Gravity Separation Circuit.