Maybe Tim could do an update in the old format
Sokoman Minerals to restart Moosehead drilling Jan. 15
2021-01-11 09:07 MT - News Release
Mr. Timothy Froude reports
SOKOMAN MINERALS PROVIDES PROGRAM UPDATE, MOOSEHEAD GOLD PROJECT, CENTRAL NEWFOUNDLAND
Sokoman Minerals Corp. has provided an update on its continuing phase 6 drill program at the Moosehead gold project in central Newfoundland. Phase 6, which started in September, 2020, and was paused for a Christmas break, will restart with one drill rig on or around Jan. 15, 2021, adding the second drill rig in the first week of February.
Highlights of the revised program include:
- A second drill to be added;
- Doubling the minimum commitment to 20,000 metres (m) from the original 10,000 m;
- Moving to a new, larger, core logging facility;
- Increasing staff to meet the increased drilling requirements.
Tim Froude, president and chief executive officer of Sokoman, said: "We are very pleased to announce the expanded program and the additional diamond drill at Moosehead. The last round of financing allows us to increase the initial commitment to at least 20,000 m and, as a result, we have moved to a larger core logging facility and are hiring additional staff to take on the added work. We expect the new core building to be fully functional by Jan. 15, with first core to follow immediately. The extra metreage 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 (over 50 grains), the majority of which are pristine in morphology. Assays for some holes remain outstanding and we expect to be able to release new results by the end of January."
To date, in the phase 6 drill program, Sokoman has logged and sampled 22 holes totalling 6,650 m. 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 at 47.20 grams per tonne (g/t) gold (Au), as well as a slightly deeper intersection in the main eastern trend that returned 8.10 m at 68.25 g/t Au. Drilling at South Pond, 240 m south of the western trend, returned high-grade results of five m at 26.88 g/t Au, including 2.15 m at 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 continuing three-dimensional (3-D) modelling, will shape the program more precisely, including the locations, number and depth of holes.
Sokoman is also pleased to report that a total of 5,656,904 warrants were exercised between July, 2020, and January, 2021, for gross proceeds of $459,440. The company has $4.6-million in its treasury and is fully financed for the increased phase 6 drill program.
About Moosehead gold project
The 100-per-cent-owned Moosehead gold project is located along the Trans-Canada Highway in north-central Newfoundland, on the same structural trend as the advanced Valentine Lake project (Marathon Gold) and adjacent to New Found Gold's Queensway project. Both the Moosehead and Queensway projects are targeting high-grade, turbidite-hosted, Fosterville-type gold mineralization.
The gold mineralization at Moosehead has been defined over a 500-metre strike length and a 200-metre vertical height and remains open, with high-grade drill results including 5.10 m of 124.20 g/t Au (MH-18-39) and 4.8 m of 33.59 g/t Au, including 0.90 m of 124.15 g/t Au (MH-19-62).