Scorpion Minerals Limited has announced that pre-drilling exploration work at its Pharos Gold Project in the Murchison region of Western Australia is now complete, setting the stage for a new reverse circulation drilling campaign. The company’s technical team has conducted extensive field evaluations across all identified drill targets, including detailed rock chip sampling and the resampling and relogging of historical drilling data. Approximately 200 rock chip and RC samples have already been submitted for laboratory assay, with the first results expected within four to six weeks. The exploration work involved a comprehensive assessment of structural controls on gold mineralisation, which not only helps to fine-tune the targeting of the upcoming drilling phase but also confirms the potential of several historic high-grade zones. Notable historic drill results have been recorded at locations such as Oliver’s Patch, Cap Lamp, Salt Flat, Lantern, and Candle, with impressive intercepts reporting multiple meters of high-grade gold. Field reconnaissance also included targeted metal detecting near the Cap Lamp northern extension, where the recovery of gold specimens further supports the prospectivity of the area. With the rig maintenance complete and the drilling contractor on standby, the company is ready to mobilise as soon as a rain event in the region clears. The upcoming campaign, which is expected to cover roughly 1,500 metres, will focus on systematically testing these high-value drill targets, while additional work such as detailed geological mapping and an airborne magnetic survey will enhance the understanding of the underlying geology. This effort is complemented by Scorpion Minerals Limited’s strategic acquisition of the largest landholding along the Dalgaranga–Big Bell shear corridor, a key structural feature that remains largely unexplored. CEO Michael Fotios expressed confidence in the project’s potential, noting that the recent field activities have refined the targets considerably ahead of drilling and that the company’s strong capital base—bolstered by a recent share placement and drill-for-equity funding—positions it well in a supportive gold price environment. Fotios also hinted at potential strategic consolidation opportunities in the region, emphasizing the company’s plans for a series of market updates as exploration progresses. The sentiment surrounding the news is mixed. On the bullish side, the refined target areas, high-grade historic results, and substantial land position in a renowned shear corridor underline the project's potential for significant upside. Moreover, the immediate readiness of the drilling rig and a strong fundamental gold market add further support to a positive outlook. Conversely, there is a note of caution for investors, as the project is still in its exploration phase and awaiting assay results, meaning that further drilling will be necessary to confirm the high-grade gold targets. Despite these uncertainties, the overall tone is optimistic, given the systematic approach to exploration and the company’s robust financial backing.