The property consists of 98 claims totaling 2,450 hectares adjacent to the Trans-Canada-Highway. The property is subject to a 2.0% NSR Royalty including 1.5% to the vendor and a 0.5% NSR royalty to an arms-length third party.
Moosehead is a very accessible orogenic lode gold project in a jurisdiction open to exploration and development. Historic sampling has returned values of up to 442 g/t Au from boulders and up to 170 g/t Au over 1.53 metres from drill core samples. The mineralized system remains virtually untested below a vertical depth of 100 metres (the only “deep hole” intersected 278 g/t Au over 0.45m at a hole depth of 257 metres) and remains open along strike. Mapping of the recently exposed bedrock and mineralized veins indicated that the controlling Au-bearing structures are orientated E-W and WNW, whereas the majority of historic drill holes targeted N-S structures.
In March 2018, the Company initiated its 2018 program with Phase 1 diamond drilling commencing in June. Phase 1 consisted of a 1,970.5 m in 15 holes, which in late July resulted in a high-grade discovery in the Eastern Trend, an area with little previous drilling. Phase 1 Discovery Hole MH-18-01 returned 11.90 m @ 44.96 g/t Au from 109 m down-hole. Since then, Sokoman has completed five successful phases of diamond drilling, consistently returning high-grade results.
The Company is currently carrying Phase 6 diamond drilling program which started in September 2020, covering 10,000 m of drilling. A total of 4,009 metres in 15 holes has been completed to date testing target areas including three holes in the Western Trend (MH-20-111, 113 and 114) and 12 holes in the Eastern Trend. Drilling in the Western Trend focused on testing deeper portions of the zone and all three holes intersected structures with variable quartz veining with disseminated pyrite and arsenopyrite.
First results were reported in November 2020.