Sokoman Minerals Corp. Provides Program Update, Moosehead Gold Project, Central Newfoundland
January 11, 2021 at 11:05 am
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Sokoman Minerals Corp. provided an update on its ongoing Phase 6 drill program at Moosehead Gold Project ("the Project"), in Central Newfoundland. Phase 6, which started in September 2020 and was paused for a Christmas break, will re-start with one drill rig on or around January 15, 2021, adding the second drill rig in the first week of February. The revised program include: A second drill to be added; Doubling the minimum commitment to 20,000 m from the original 10,000 m; Moving to a new, larger, core logging facility; and Increasing staff to meet the increased drilling requirements. The company expects the new core building to be fully functional by January 15, with first core to follow immediately. The extra meterage will be distributed as needed to expand on the currently defined zones to depth and on strike, as well as targets not yet tested, many of which required winter conditions to access, including multiple glacial till samples with high gold grain counts (>50 grains), the majority of which are pristine in morphology. To date in the Phase 6 drill program, Sokoman has logged and sampled 22 holes totaling 6,650 m. The Phase 6 has delivered excellent results including MH-20-115 that returned two discreet, high-grade zones including the newly recognized Footwall Splay, that gave 4.60 m @ 47.20 g/t Au, as well as a slightly deeper intersection in the Main Eastern Trend that returned 8.10 m @ 68.25 g/t Au (November 19, 2020 NR). Drilling at South Pond, 240 m south of the Western Trend, returned high-grade results (December 17, 2020 NR) of 5.0 m @ 26.88 g/t Au including 2.15 m @ 60.59 g/t Au. The intersection in MH-20-123 represents the in-situ source of the high-grade boulder cluster reported in July 2020, that averaged 36 g/t Au indicating that the system comes to surface. These intersections, and many other previously reported, are similar in style and grade to the world-class Fosterville Mine in Victoria, Australia, and establish Moosehead as a Fosterville lookalike, also fully supported by geological and structural criteria. Pending assay results, as well as ongoing 3D modelling, will shape the program more precisely, including the locations, number and depth of holes.
Sokoman Minerals Corp. is a Canada-based exploration-stage company, which is focused on identifying, acquiring, and exploring mineral interests. The Companyâs projects include Moosehead, Crippleback, East Alder, Iron Horse, Grey River Gold, Kepenkeck Gold, Golden Hope-Kraken Pegmatite and Fleur de Lys. Moosehead Gold Property consists of 98 claims. The Crippleback is located in north-central Newfoundland. East Alder consists of 30 claims. The Iron Horse project is located approximately 120 km northeast of Labrador City, Labrador. The Fleur de Lys Project comprises over 1,891 claims (47,275 hectares) on the Baie Verte Peninsula of Newfoundland. The Grey River property in southern Newfoundland, consists of 324 claims (8,100 ha) in seven licenses, centered on the community of Grey River. The Golden Hope property is a 3,176-claim (79,400 hectares (ha)) 18 licenses, and is located in southwestern Newfoundland. The Kepenkeck Gold property (595 claims) in east-central Newfoundland.