RE:Northern MinerCopied from Northern Miner
SOKOMAN MINERALS Sokoman Minerals (TSXV: SIC; US-OTC: SICNF) chooses to focus its exploration work in central Newfoundland and Labrador. It holds several gold properties, two of which are currently receiving attention.Sokoman’s flagship gold prop-erty is Moosehead on the Central Newfoundland Gold Trend. This is the same trend as Marathon Gold’s (TSX: MOZ) Valentine Lake project, for which a feasibility study was completed earlier this year. Sokoman has been drilling the property since 2018 and says the geology and mineralization is comparable to that at the Fos-terville mine in Australia, which is owned by Kirkland Lake Gold(TSX: KL; NYSE: KL; ASX: KLA).Highlights from the ongoing sixth phase of drilling, which began in 2020, included 4.6 metres of 47.20 grams gold per tonne in the Footwall splay and 8.1 metres of 68.70 grams gold in the Main zone. At the South Pond zone, undercutting high grade gold float material, drilling returned 4.2 metres of 64.0 grams gold, including 1.20 metres at 223.6 grams gold. In April, the Footwall splay returned 11.6 metres of 21.07 grams gold, including 5.1 metres of 30.82 grams gold and 3.5 metres of 12.39 grams gold, including 1.5 metres of 28.57 grams. One hole, collared in a visible gold-bearing quartz vein, returned 510 metres of 15.51 grams gold, including 2.8 metres of 27.68 grams.Sokoman has doubled its phase 6 drilling to 20,000 metres, a pro-gram that is fully funded. The Eastern and Western trends, in-cluding the Footwall splay will be tested. Plans also call for drilling magnetic, till, soil and float targets along the 8-km strike length of the main structure.The company’s other promising gold prospect is Fleur de Lys, which was acquired in March. It is on the Baie Verte Peninsula and south of the successful gold mine that is part of the Pointe Rousse project belonging to Anaconda Mining(TSX: ANX; US-OTC: ANXGF).Fleur de Lys is similar to struc-turally controlled, vein hosted Dalradian-style orogenic miner-alization in the northern United Kingdom. Similar gold deposits include Curraghinalt in Northern Ireland and Cononish in Scotland. Sokoman is planning a two-year prospecting and sampling pro-gram to follow up on gold anoma-lies in lake sediments and tills.Sokoman closed a $5.5 million private placement in April 2020, followed by a subscription of $980,000 by Eric Sprott. This gives Sprott a 19.7% interest in the com-pany.Sokoman Minerals has a market cap of about $78 million.