Sokoman Provides Project Update, Moosehead Gold Project, Central Newfoundland
Rhea-AI Summary
Sokoman Minerals (TSXV:SIC)(OTCQB:SICNF) has provided an update on its Moosehead Gold Project. The company completed 1,325m of drilling across 19 holes at the Western Trend, with 13 holes intersecting visible gold-bearing quartz veins. The drilling program tested 100m of strike to 80m down dip, with the zone remaining open.
Metallurgical testing results showed impressive gold recoveries, with bulk gravity testing of quartz vein samples yielding 82.0-83.0% recovery, and subsequent leaching of gravity tailings achieving 95.0-96.6% recovery. The company plans a conventional bulk sample collection in Q2 2025, pending final permits.
Positive
- 13 out of 19 drill holes intersected visible gold-bearing quartz veins
- High gold recovery rates: 82-83% from gravity testing and 95-96.6% after leaching
- Zone remains open for potential expansion
Negative
- All assay results are pending until Q1 2025
- Drilling program paused for Christmas break (Dec 19, 2024 to mid-Jan 2025)
News Market Reaction
On the day this news was published, SICNF declined 2.90%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
13 of 19 holes at the Western Trend intersect gold-bearing quartz veins
ST. JOHN'S, NL / ACCESSWIRE / December 12, 2024 / Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) ("Sokoman" or the "Company") is pleased to provide an update on the Moosehead Project. The previously announced (see press release dated November 27, 2024) Western Trend diamond-drill program is progressing well, with 1,325 m in 19 holes completed. The drilling is testing the area of the recently completed Western Trend Trench (Figure 1) which is the future site of the planned conventional (drill and blast) bulk sample. Thirteen (13) of the holes intersected visible gold-bearing quartz veins and vein swarms (Photos 1 and 2), similar to the exposures in the trench. All assays are pending and expected early in Q1 2025. Drilling will continue until the Christmas break (December 19, 2024, to mid-January 2025).
The drilling program is testing the strike/dip extents of the newly discovered, east-west trending, gold-bearing vein network, which is a splay off the main north-trending vein system in the trench. Drilling to date has tested 100 m of the strike to 80 m down dip with the zone remaining open. The deeper holes target the potential high-grade plunge of the intersection point between the east-west trending splay and the main north-trending vein system. The new vein system setting is similar to the high-grade Footwall Splay trending off the main Eastern Trend approximately 200 m to the east. The trenching was initiated for a conventional (drill and blast) bulk sample from the Western Trend, with final permits expected soon, and bulk-sample collection is planned for Q2 2025.
The Company is also pleased to report additional Phase 1 metallurgical results from Base Met Labs in Kamloops, B.C., for scoping-level, metallurgical tests of the Western Trend gold mineralization. Gold recoveries from the bulk gravity testing of the quartz vein sample returned
Timothy Froude, P.Geo., President and CEO, states, "With the drilling program largely complete at the Western Trend, we expect to have a sample plan in hand early in Q1 2025 with collection of the bulk sample following once all permits have been received. We are evaluating several options for the sample processing, with the aim of deciding by mid-to-late Q1 2025. We also look forward to continued good gold intersections in the Western Trend drilling program, where we have had excellent success. The metallurgical work on the quartz vein portion of the planned bulk sample has yielded excellent recoveries. We are expecting a formal proposal from Novamera on the planned Footwall Splay Zone bulk sample to be taken later in 2025 using its proprietary technology. It looks like 2025 will be a great year for the Moosehead Project and indeed for Sokoman as a whole."
QP
This news release has been reviewed and approved by Timothy Froude, P.Geo., a "Qualified Person" under National Instrument 43-101 and President and CEO of Sokoman Minerals Corp.
Analytical Techniques / QA/QC
Samples, including duplicates, blanks, and standards, are submitted to Eastern Analytical Ltd. in Springdale, Newfoundland, for gold analysis. All core samples submitted for assay are saw cut by Sokoman personnel, with one-half submitted for assay and one-half retained for reference. Samples are delivered in sealed bags directly to the lab by Sokoman personnel. Eastern Analytical Ltd. is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples with visible gold are submitted for total pulp metallics with a gravimetric finish. All other samples are analyzed by standard fire assay methods. Total pulp metallic analysis includes the entire sample being crushed to -10 mesh and then pulverized to
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is a discovery-oriented company with projects in the province of Newfoundland and Labrador, Canada. The Company's primary focus is its portfolio of gold projects: the
In October 2023, Sokoman and Benton completed an agreement with Piedmont Lithium Inc., a major developer of lithium projects and processing plants in the USA, and exactly the right partner to have to advance the lithium project. The agreement provides for Piedmont to earn up to
Projects optioned with optionee fully vested are:
East Alder Project optioned to Canterra Minerals Inc. (SIC retains shares of CTM plus
1% NSR)Startrek Project optioned to Thunder Gold (SIC retains shares of TGOL plus
1% NSR)
The Company would like to thank the Government of Newfoundland and Labrador for the financial support of the Moosehead and Fleur de Lys Projects through the Junior Exploration Assistance Program during the past few years.
For more information, please contact:
Timothy Froude, P.Geo., President & CEO
T: 709-765-1726
E: tim@sokomanmineralscorp.com
Cathy Hume, VP Corporate Development, Director
T: 416-868-1079 x 251
E: cathy@chfir.com
Website: www.sokomanmineralscorp.com
Twitter: @SokomanMinerals
Facebook: @SokomanMinerals
LinkedIn: @SokomanMineralsCorp
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Minerals Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Minerals Corp.
SOURCE: Sokoman Minerals Corp.
View the original press release on accesswire.com
FAQ
What are the latest drilling results from Sokoman's (SICNF) Western Trend program?
What are the gold recovery rates from SICNF's Western Trend metallurgical testing?
When is Sokoman (SICNF) planning to collect its Western Trend bulk sample?
How much strike length has SICNF's Western Trend drilling program tested?
