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Pirate Gold Corp. (OTCQB: SICNF), formerly Sokoman Minerals Corp., issues frequent news updates as it advances its gold exploration strategy in Newfoundland. Company releases focus on its position along the Valentine Lake Fault Zone and on the progression of its 100% owned, district-scale Treasure Island Gold Project, anchored by the advanced Moosehead Zone.
News items cover drilling programs, including the launch of a 50,000 metre diamond drilling campaign at Treasure Island and detailed visual observations from drill holes testing the Moosehead Eastern and Western trends and regional geophysical targets. These updates describe structural zones, quartz veining, sulphide mineralization, and visible gold, while emphasizing that assay results are pending laboratory analysis and that visible gold alone does not guarantee high grades.
Other announcements highlight claim acquisitions and project consolidation that expand the company’s mineral licence holdings along the Valentine Lake Fault Zone, as well as agreements to acquire additional licences and associated royalty terms. Corporate news also includes leadership changes, board appointments, and the transition from the Sokoman Minerals name to Pirate Gold Corp. with the new TSXV ticker YARR.
Investors following SICNF news can also track the company’s communication initiatives, such as the Pirate Gold Treasure Hunters video series, which provides behind-the-scenes footage from site visits, drilling campaigns, and the evolving district-scale exploration model. For those monitoring early-stage gold exploration in Newfoundland, the Pirate Gold news feed offers ongoing context on technical programs, corporate developments, and the company’s efforts to build a district-scale gold project at Treasure Island.
Sokoman Minerals Corp. (TSX-V: SIC) (OTCQB: SICNF) has announced promising results from ongoing Phase 6 drilling at its Moosehead Property. Significant high-grade gold mineralization was detected at the Footwall Splay and South Pond Zones, including notable drill results such as 3.50 m of 12.39 g/t Au and 11.60 m of 21.07 g/t Au. A new mineralized structure was also discovered at South Pond. The company plans a barge-based drill program to further explore these areas. Drilling is temporarily suspended but expected to resume in mid-to-late May 2021.
Sokoman Minerals Corp. (TSX.V: SIC, OTCQB: SICNF) has entered an option agreement with Canterra Minerals for the East Alder Gold Project in Newfoundland. Canterra can acquire 100% of East Alder by issuing 750,000 shares and committing $600,000 in work over four years. The project features rock samples with gold grades ranging up to 5.3 g/t and a 2-km gold-in-soil trend. Sokoman retains a 1.0% royalty on production. This partnership allows Sokoman to focus on its flagship Moosehead Gold Project, currently undergoing an extensive drill program.
Sokoman Minerals Corp. has appointed Daniel Lee as Vice President of Exploration, bringing over 30 years of experience in base and precious metals. Lee has significantly contributed to major projects, notably the Voisey’s Bay Project and the Hope Brook Gold Mine. Sokoman is ramping up exploration activities at the Moosehead Gold Project, with ongoing drilling focused on high-grade zones. The company plans to increase drilling to 50,000 meters by June 1. Significant gold mineralization has been identified, including high-grade results of 44.96 g/t Au and 124.20 g/t Au.
Sokoman Minerals Corp. (TSX.V: SIC) (OTCQB: SICNF) is restructuring its non-brokered private placement of units valued at $6.5 million due to regulations concerning shareholder ownership limits. Major shareholder Eric Sprott intends to invest $5 million, but regulatory policies require shareholder approval for ownership exceeding 20%. The investment will be split into two tranches, with a portion held in trust pending approval. An Extraordinary General Meeting is set for May 18, 2021. Each subscription receipt will convert into units upon receiving the required approval, enhancing shareholder value.
Sokoman Minerals Corp. has successfully acquired the Fleur de Lys Project, encompassing 1,891 claims (47,275 hectares) in Newfoundland's Baie Verte Peninsula through staking and option agreements. This project is geologically comparable to the UK’s Curraghinalt Deposit, hosting unexplored gold anomalies. The acquisition is primarily for staking costs, enhancing Sokoman's portfolio alongside its flagship Moosehead Project, with potential for significant gold deposits. Historical exploration has been minimal, indicating opportunities for development.
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Sokoman Minerals Corp. reported significant results from its Phase 6 drilling program at the Moosehead Property, uncovering high-grade gold mineralization at South Pond. Notably, drill hole MH-21-141 intersected 4.20 m of 64 g/t Au, including 1.20 m at 223.63 g/t Au. The company plans to continue drilling with two rigs, hoping to expand on discoveries in high-priority zones. They are optimistic about future findings, having drilled 37 holes for a total of 6,872 m in this phase, part of a larger 20,000 m program.
Sokoman Minerals Corp. (TSXV:SIC, OTCQB:SICNF) announced the mobilization of a second diamond drill rig to the Moosehead Gold Project, aiming to test high-priority targets outside known mineral zones. The first drilling site is 200 m east of the main Eastern Trend, focusing on a magnetic and soil anomaly. Historical soil values range from under 5 ppb to 325 ppb Au. The company aims to drill up to 5,000 m across over 10 targets as part of a larger 20,000 m drill program. Results from this phase will help extend known zones and explore new discoveries.
Sokoman Minerals Corp. has announced plans for a non-brokered private placement of flow-through shares at $0.20 each, aiming to raise up to $2 million. The funds will support the Moosehead Gold Project, where the company has achieved promising drill results. The placement, reliant on regulatory approvals, includes a 6% finders' fee. With 6,000 meters of drilling completed out of a planned 10,000 meters for Phase 6, the additional financing will allow for expansion into winter drilling. The company holds a strategic position in the highly mineralized corridor of Central Newfoundland.
Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) announced a stock option grant for up to 3,000,000 common shares, subject to TSX Venture Exchange approval. These stock options will be exercisable for five years at an exercise price of Cdn $0.22, which is a 30% premium over the current share price. The company focuses on gold projects in Newfoundland, specifically the Moosehead, Crippleback Lake, and East Alder projects. The Valentine Lake project, located nearby, holds significant mineral reserves and resources, highlighting the promising area for gold exploration.
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