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Sokoman Minerals to begin phase 4 drilling at Moosehead 2019-07-11 14:40 ET - News Release Mr. Timothy Froude reports SOKOMAN MINERALS COMMENCES PHASE 4 DRILLING AT MOOSEHEAD Sokoman Minerals Corp. has received all necessary permits and has awarded the phase 4 diamond drilling program contract to Springdale Forest Resources. Drilling will begin this weekend or early next week and the minimum 4,000-metre program is expected to take about six weeks to complete. The company is also pleased to announce that the continuing modelling of the Eastern trend has revealed key features of the mineralization that have been incorporated into the planning for the current drill program. Key features of the Eastern trend mineralization include: It comprises at least three subparallel, possibly folded, subzones. Central and lower subzones appear to be coalescing or folded; this suggests that structural thickening is possible. The Central zone contains most of high-grade intercepts. Overall mineralized trend appears to be more north than northeast trending. It is traced along strike for 175 metres and to a depth of 250 metres and remains open in all directions. The modelling has significantly changed the approach for the phase 4 drilling in that it now appears unnecessary to complete barge-based drilling on North Pond, which would be more costly and time consuming. The newly recognized northerly strike of the trend means drilling to the west of North Pond can effectively test both the strike and updip potential of the Eastern trend, while drilling to the east of North Pond can effectively test the strike and downdip potential of the trend. Selected views of the Eastern trend can be found on the company's website. Phase 4 will comprise approximately 20 holes, each 100 metres to 350 metres deep, with spacings between 25 metres and 50 metres. The focus is to extend the Eastern trend to the north and south to try to at least double the strike length and also to extend the mineralization to depth. Drilling will start at the north end of the trend, following up on MH-19-62 that cut 4.80 metres at 33.59 grams per tonne (g/t) gold from 239.85 metres. Timothy Froude, professional geoscientist, president and chief executive officer, states: We are eager to get the phase 4 drilling under way, given what we have learned since completing the phase 3 winter program. Modelling has revealed details about the Eastern trend that are critical in our planning for this phase. Our focus has been, and will remain, the Moosehead project. We still await final permits for Clarks Brook and will begin drilling operation there as soon as we receive final permits, which we expect in the coming weeks. This will certainly be a busy and exciting summer for our shareholders in that we will be drilling our two most important projects at the same time. We expect a steady stream of news on several fronts moving forward." The summer 2019 operating budget has been pegged at $1.2-million, of which $750,000 is planned for the Moosehead project, with the remaining $450,000 spread between the other three projects, with Clarks Brook accounting for about $250,000. The company currently has $2.55-million in cash in the treasury and does not need to raise funds for the upcoming programs. The company wishes to extend gratitude to the government of Newfoundland and Labrador for its continued support of the Moosehead project through the junior exploration assistance (JEA) program. Qualified person This news release has been reviewed and approved by Mr. Froude, a qualified person under National Instrument 43-101 and president and CEO of Sokoman Minerals. About Sokoman Minerals Corp. Sokoman Minerals is a discovery-oriented company with projects in Newfoundland and Labrador, Canada. The company's primary focus is its portfolio of gold projects in central Newfoundland on the structural corridor hosting Marathon Gold's Valentine Lake project, 150 kilometres southwest of the company's high-grade Moosehead gold project. The company also has a 100-per-cent interest in an early-stage antimony/gold project in Newfoundland recently optioned to White Metal Resources, as well as a 100-per-cent interest in the Clarks Brook gold property, 35 kilometres southeast of Moosehead. In Labrador, the company has a 100-per-cent interest in the Iron Horse iron/uranium/rare earth mineral project. We seek Safe Harbor. \u00a9 2019 Canjex Publishing Ltd. All rights reserved. Quelle: https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aSIC-2782… |
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| aus der Diskussion: | Sokoman Minerals Corp. |
| Autor (Datum des Eintrages): | Depotmanager04 (12.07.19 08:16:11) |
| Beitrag: | 255 von 373 (ID:61009109) |
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