Sokoman Minerals Corp. [SIC-TSXV; SICNF-OTCQB] reported assay results from the continuing, 100,000-metre, phase 6 program at the 100%-owned Moosehead project on the island of Newfoundland, province of Newfoundland and Labrador.
The company has also provided an update on exploration in the vicinity of MH-22-463, which returned a 39.6 metres intercept (core length) grading 12.5 g/t gold, including a higher-grade interval of 10.25 metres grading 41.97 g/t gold, from the lower eastern trend.
The mineralized zone in MH-22-463 is located approximately 100 metres below the currently modelled mineralized shell for the eastern trend. Also released are 14 holes drilled along the northern perimeter of the western trend, where geophysics (magnetics and historical induced polarization) indicated the potential to expand the zone in that direction.
Drilling highlights from the eastern trend include hole MH-22-489 where three zones of mineralization were intersected; from 106.35 to 108.10 metres (1.75 m at 2.69 g/t Au); and, from 210.40 to 212.22 metres (1.82 m at 3.78 g/t Au); and, from 244.19 to 245.20 metres (1.01 m at 56.67 g/t Au)
At hole MH-22-485, two zones of mineralization were intersected; from 203.00 to 209.45 metres (6.45 m at 4.01 g/t Au); and, from 227.45 to 232.95 metres (5.50 m at 1.27 g/t Au).
Other holes reported today confirm the continuation of the Eastern Trend to the north and down dip and drilling will continue in those directions. The drilling includes holes designed to extend the Eastern Trend to depth, as well as testing areas inferred to be within the Eastern Trend but where previously drilled holes are too widely spaced to confirm.
The onset of freezing temperatures has forced an end to the barge-based program for 2022 but will resume in 2023. While the main focus of the barge program was the Eastern Trend and splays linked to it, it now appears that the recent intersection in MH-22-463 may be partially tested by holes drilled from the barge. Meanwhile, drilling to test the MH-22-463 area will commence today, with holes being collared from the western side of North Pond. Drilling at Moosehead will continue with two drills until the holiday break period which starts December 15, 2022.
Tim Froude, President and CEO, said: “We will soon be testing the area surrounding the intersection reported in hole MH-22-463. Dr. Coller’s visit was timely and critical, and we now have the start of a new model that we feel strongly will deliver additional intersections. Drilling will commence immediately and we hope to have news before the holiday break in mid-December. The number of holes to be placed into the 463 area will be determined by the results we get as we drill them.
“The barge-based program was not finished before year-end due to an earlier-than-expected freeze-up, therefore the program will be continued as early as possible in 2023. We have also just received a new magnetic interpretation for the project and combined with the deep seeking Alpha IP survey which is expected to commence imminently, will ensure we have the best, and most up-to-date package of data to work with moving forward. To date, we have completed 77,500 metres in Phase 6 with approximately 1,050 samples outstanding at the lab representing all or parts of about 15 holes.”
Drilling on the Moosehead Project to date has discovered five zones of gold mineralization, most containing visible gold, focused mainly on the Eastern Trend in the central portion of the property. Gold mineralization has been defined over a 600-metre strike length and to 370 metres down dip. The company is well funded with more than $4.5 million in the treasury.
Sokoman now controls, independently and through the Benton alliance, over 150,000 hectares (>6,000 claims – 1,500 km2), making it one of the largest landholders in Newfoundland. The company also retains an interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to White Metal Resources Inc. and in Labrador, the company has a 100% interest in the Iron Horse (Fe) project which has Direct Shipping Ore (DSO) potential.