SOKOMAN WEBCAST KEY POINTS- 05 27 2021
Moosehead
- Moosehead is full commitment. Go to project. Full priority
- 13,000 metres completed so far in phase 6 with 37,000 remaining. Two rigs on site now.
- 4th rig will be on barge later summer in eastern trend/footwall splay. This is a very important component of drilling (i.e., barge based)
- Footwall splay and south pond have been very important
- SIC has 5 zones now and all open for expansion
- Moosehead has only about 25% of strike length tested. We have 8-9km
- Infill and step out holes in current drilling.
Fleur de Lys
- High grade target oreginic type (spelling)
- Phase 1 will start June 1st – Till program
Benton CEO the spoke
- Glad to partner with SIC to spread the risk
- General summary of Benton Resources and its projects
JV projects
- Exploration to commence immediately on 3 new JV projects with Benton
- Used knowledge of geology to pick up these projects
- GoldenHope covers 2 gold associated major structures. Think structure linked to matador mining. Very little drilling. Start is airborne survey and data collection through summer. Project acquired for just a few hundred thousand dollars of staking fees.
- Kapenkeck – This kicked off the alliance. Tim and CEO of Benton close to Keats family. Extends up from Canstars project. Feel this project could host something significant. Lots of favorable geology. Airborne survey to begin.
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- Grey River- Tim talked. Based on a government geologist who helped a lot and gave them a lot of ideas. Lots of flooding and fluids. Gold and silver high grade. Quart/silica. Association of gold along with base metals is what attracted Tim and Benton to this project. They seem excited about this project a lot. Airborne survey here also like the other two. Need to do sampling etc also.
- 3 projects will cost about $1M to keep them in good standing or $500K each.
- SIC has $11M in bank. SIC has drilling and other commitments which will cost about $7-$8M.
- SIC has lots of warrants outstanding which will add to cash in future. Maybe a much larger financing in the future also.
- Tim stated money is not an issue.
Questions: Answered those focused on new JV’s.
Kapenkick will start with airborne. Then prospecting. Results driven. If discover, then trench then drill. Till sampling. Files from the government. Large projects will take time. All projects will be linked into one airborne survey.
Golden Hope- great accessibility.
Grey River- Need a boat or by air access. No mining infrastructure. Get winter but no ice here.
Moosehead not overextending itself. Tim stated Moosehead is major focus and No 1 project.
Tim on Moosehead- We still have 14 holes with partial results. We have 2 holes with no results yet. We also completed about a dozen new holes (being logged). So pending results for about 30 holes. Could be in position to release the o/s partial assay pending in a few weeks. Hard for exact time. Rush assay means nothing except first come first serve. 1 rig on south pond and 1 rig on footwall splay area. One rig will move to test to north side of pond. Barge is work in progress. Has a line on possibly two barges and need to get program permitted? Do not expect before August but will be able to drill for about 2 months. New JV projects will get partial funding from Newfoundland government. Government wants 5-6 new mines before 2026.
Drill results for new JV by end of year? Will depend on results or results driven. CEO of Benton very confident they will find something. Too much potential in Newfoundland. CEO of Benton knows this area very well also.
Eric Sprott question on ‘whether he liked the deal”? Tim said he talked with Eric and said he was very supportive of these JVs. Tim said they chatted about expanding and ES said “have at her”. More webinars and other marketing to get word out
Ended webcast