RE:RE:RE:RE:It looks like the trading today is "Last PP was made at 0.26 and this affects share price, its fact and reason why Sic lags behind other companies" $0.26 was the stock price of the shares when Eric Sprott bought and now owns 26.1% of Sokoman.
Things have changed since then as the asset value of gold in the ground has increased significantly warranting much higher safe price. With the shallow high grade drill results that have come out since Sprott bought in one can no longer expect to buy in at $0.26/share no more than you could expect to by Home Depot, Netflex, Tesla, Google at the prices when they first went public.
The share price is still way undervalued. Since Sprott bought in we know that Moosehead for all intense and purposes looks economic and a large, high grade lithium depoist was uncovered at Golden Hope.
Moosehead Dr. Qunton Hinnigh, NewFound Gold Director, in a Sprott Money interview on 17 December, to question six at the 18:36 minute mark, said that when quantifying a deposit (highlights my emphasis, link below):
"... a lot of major mining companies use this as a rule of thumb.... you simply multiply your grams of gold times the length of the intercept and you determine, what we call gram meters, there are.
"Statistically when you start to see drill projects in which they are hitting 100 gram meter holes or above, they do not all have to be that so long as some of the holes are 100 gram meters or above,
those systems tend to deliver an ecomic discovery - just purely empirical.
"Those kind of results tend to forecast the likely hood there is going to be an ecomomic discovery. You might only need a handful, like maybe 3 or 4 out of a list of 50 might have 100 gram meter. Still that is a good omen." "... Major mining companies use that as a kind of threshold to understand the success of various exploration projects around the planet."
Quantifying Moosehead
Out of 64 holes reported at Moosehead 13 holes exceed 100 gram meters.
Even more significant, in addition to those 13 holes, there so many more holes with long high grade intercepts that the gram meter average of all 64 holes total 135 gram meters.
A lot of the project has been derisked.
See data below.
https://www.youtube.com/watch?v=kz5gDnbt2SM&t=195s
meters grade grade/meters
| 2.3 | 79.23 | 182.229 | | |
| 24.9 | 33.56 | 835.644 | | |
| 11.8 | 6.61 | 77.998 | | |
| 9.05 | 70.29 | 636.1245 | | |
| 44.96 | 11.9 | 535.024 | | |
| 4.2 | 8.95 | 37.59 | | |
| 4.6 | 47.2 | 217.12 | | |
| 8.1 | 68.25 | 552.825 | | |
| 3.5 | 12.39 | 43.365 | | |
| 3.05 | 16.54 | 50.447 | | |
| 6.7 | 3.25 | 21.775 | | |
| 5.1 | 15.51 | 79.101 | | |
| 4.1 | 1.52 | 6.232 | | |
| 42 | 64 | 2688 | | |
| 1.5 | 6.18 | 9.27 | | |
| 11.6 | 21.07 | 244.412 | | |
| 3 | 1.82 | 5.46 | | |
| 5 | 26.87 | 134.35 | | |
| 3 | 1.61 | 4.83 | | |
| 20.95 | 5.15 | 107.8925 | | |
| 1.8 | 11.85 | 21.33 | | |
| 5.4 | 2.76 | 14.904 | | |
| 10.4 | 3.09 | 32.136 | | |
| 3.6 | 10.4 | 37.44 | | |
| 4 | 24.92 | 99.68 | | |
| 22.1 | 1.65 | 36.465 | | |
| 3.5 | 11.95 | 41.825 | | |
| 9.5 | 5.7 | 54.15 | | |
| 5.2 | 16.85 | 87.62 | | |
| 1.6 | 30.97 | 49.552 | | |
| 4.1 | 21.6 | 88.56 | | |
| 7.2 | 22.35 | 160.92 | | |
| 6.4 | 17.34 | 110.976 | | |
| 3 | 7.85 | 23.55 | | |
| 9.8 | 6.65 | 65.17 | | |
| 4.6 | 1.21 | 5.566 | | |
| 1.55 | 5.23 | 8.1065 | | |
| 4.6 | 1.21 | 5.566 | | |
| 1.55 | 5.23 | 8.1065 | | |
| 4.95 | 27.7 | 137.115 | | |
| 1 | 54.63 | 54.63 | | |
| 4.8 | 17.56 | 84.288 | | |
| 9.2 | 6.7 | 61.64 | | |
| 2.35 | 20.39 | 47.9165 | | |
| 5.1 | 7.64 | 38.964 | | |
| 2.35 | 20.39 | 47.9165 | | |
| 5.1 | 7.64 | 38.964 | | |
| 4.25 | 2.58 | 10.965 | | |
| 2.28 | 13.67 | 31.1676 | | |
| 2.4 | 0.75 | 1.8 | | |
| 5.2 | 7.68 | 39.936 | | |
| 3.7 | 9.1 | 33.67 | | |
| 0.8 | 41.01 | 32.808 | | |
| 6 | 6.47 | 38.82 | | |
| 2.2 | 4.35 | 9.57 | | |
| 3.6 | 21.86 | 78.696 | | |
| 2.55 | 22.45 | 57.2475 | | |
| 1.7 | 2.73 | 4.641 | | |
| 3.1 | 8.6 | 26.66 | | |
| 1.1 | 4.72 | 5.192 | | |
| 1.2 | 2.94 | 3.528 | | |
| 2 | 1.82 | 3.64 | | |
| 18.9 | 13.09 | 247.401 | | |
| 1.4 | 60.94 | 85.316 | | |
| 2.65 | 1.85 | 4.9025 | | |
| | | | | |
| | Total/Average | 8648.707 | 135 | |
Golden Hope
Lithium is up 486% on the year, 36% on the month, and 1.5% on the day. A Sokoman/Benton joint venture reports that it has:
"...discovered a swarm of lithium-bearing pegmatite dykes, now named the Kraken Pegmatite field with two of three initial samples returning grades of 1.95% Li2O and 0.49% Li2O. This is believed to be the first discovery of significant lithium mineralization on the island of Newfoundland. In the fall of 2021, the Alliance conducted a multi-phase prospecting, mapping, and sampling program over a 0.85km x 2.2km area and further confirmed this discovery with many assays yielding lithium values greater than 1% Li2O and the best sample grading 2.37% Li2O. Assay results from the final phase of prospecting are still pending.
"The Alliance has now completed detailed geological mapping and a high-resolution drone survey that includes imagery, Lidar (Light Detection and Ranging) to assist in the mapping and targeting of the dyke system. The Alliance has also completed a 5,709 line-km Heliborne High-Resolution Aeromagnetic & Matrix Digital VLF-EM Survey flown by Terraquest Ltd., with the final data currently being processed. These surveys will enhance our understanding of the structural/lithological setting and help identify gold-bearing structure extensions, as well as any unrecognized structures including those potentially related to the lithium-bearing pegmatites.
"Following receipt of all the data accumulated during the latter portion of 2021, including the outstanding sample assays, they will be compiled and interpreted with the objective of undertaking an initial drilling program on the Kraken dyke swarm as soon as possible in 2022."
https://sokomanmineralscorp.com/project/golden-hope-project-sokoman-benton-joint-venture/
Tim Froude has indicated a possiblity of spinning out the lithium deposit. If it does, Sokoman may well realize a significant return given the initial high grade results, its location in a safe jurisdiction, near supporting infrastructure and skill labour, high litium prices and growing demand and supply shortfall into the foreseeable future, and new extraction technology that can make solid lithium deposits more valuable than brine deposits.
Medaro Mining (CSE: MEDA) is developing a hard rock lithium Technology that would make Sokoman's Golden Hope lithium deposit more valuable than brine deposits.
See Medaro's video here: https://medaromining.com/