Clarks Brook lies 35 kilometres southeast of the company’s Moosehead project in central Newfoundland and is road accessible. The Clarks Brook Property exhibits textures and mineralization consistent with an epithermal style of gold mineralization in a trend sub-parallel to the Moosehead-Valentine Lake Trend.
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I’m Cassandra Bolinski for Investmentpitch Media
Sokoman Minerals Corp. announced that deep testing of the gold bearing structure at Clarks Brook will begin on August 15th following the receipt of all necessary permits.
Clarks Brook lies 35 kilometres southeast of the company’s Moosehead project in central Newfoundland and is road accessible.
The Clarks Brook Property exhibits textures and mineralization consistent with an epithermal style of gold mineralization in a trend sub-parallel to the Moosehead-Valentine Lake Trend.
Numerous historical gold showings that lie on trend from Clarks Brook have strong epithermal characteristics including jasperoid development, silica sinters and pathfinder elements such as antimony and arsenic.
The producing Beaver Brook antimony mine lies 14 kilometres on trend to the southwest of Clarks Brook.
The minimum 1,200-meter program will test down to 400 metres vertically the mineralized zone defined by diamond drilling completed by Sokoman in late 2017 and early 2018.
At that time, Sokoman completed approximately 1,000 metres of drilling in seven holes with all holes returning gold mineralization including CB-17-02 which returned 3.00 meters @ 3.37 grams per tonne gold including 0.25 meters @ 26.90 grams per tonne gold (core length); and CB-18-05 which returned 3.10 meters @ 3.74 grams per tonne gold including 0.60 meters @ 14.73 grams per tonne gold (core length).
The proposed program will consist of 3 to 4 strategically placed holes designed to test for deeper, higher-grade gold mineralization at what is commonly termed the boiling zone, which can occur at depths ranging from 200 to 400 metres, sometimes deeper depending on specific deposit characteristics.
Tim Froude, P. Geo., President and CEO, stated: “This will certainly be a busy and exciting summer for our shareholders as we will be drilling our two most important projects at the same time. We firmly believe that what we have seen to date at Clarks Brook is consistent with the upper levels of an epithermal system and we have an excellent opportunity to test for higher grades which typically occur below the levels we see at surface and in the shallow drilling completed to date. Meanwhile, drilling continues at Moosehead, with 30% (approximately 1,200 metres) of proposed meterage completed. We intend to pause briefly next week to allow for the return of assays from the first couple of holes before continuing with the program.”
The summer 2019 operating budget has been pegged at $1.20 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 and the balance for trenching at the East Alder and Crippleback Lake projects.
First results from the Phase 4 drilling at Moosehead are expected before the end of August with the results from the entire Phase 1 drilling program at Clarks Brook expected mid- to late September.
The company also has a 100% interest in an early-stage antimony/gold project in Newfoundland recently optioned to White Metal Resources, as well as a 100% interest in the Iron Horse (Fe/U/REE) project, located in Labrador.
The company currently has $2.5 million in the treasury and does not need to raise funds for the upcoming programs.
The shares are currently trading at $0.10.
For more information, please visit the company’s website at www.SokomanMineralsCorp.com, contact Tim Froude, P. Geo., President & CEO, at 709-765-1726 or by email at tim@SokomanMineralsCorp.com.
Investor Relations is handled by Cathy Hume of CHF Capital Markets, who can be reached at 416-868-1079 ext 231 or by email at cathy@chfir.com.
I’m Cassandra Bolinski for Investmentpitch Media
