This story is remarkable in that it originates in Newfoundland, probably to remind Canadians of how rich in valuable minerals Canada’s youngest province truly is.
And gold companies are still in the forefront of prosperous companies, what with the uncertainty created by the current political situation, and the reality that the pandemic is really not going to go away anytime soon.
Newfoundland-based Sokoman Minerals Corp. (TSX-Venture:SIC) told investors nationwide it has received the necessary permits to start Phase 6 diamond drilling at the Moosehead Gold Project in Central Newfoundland and should get shovels in the ground shortly after the Labour Day weekend.
Moosehead is located along the Trans-Canada Highway in North Central Newfoundland. Since acquiring the project in 2018 and discovering the Eastern Trend mineralization in the first hole, SIC has intersected outstanding drill results in the Eastern Trend in all five drill phases completed. Phase One revealed 11.9 metres at 44.96 grams per ton gold (g/t). Phase 2 features 5.1 metres at 124.2 g/t.
CEO Tim Froude said, "Now that all of the permits have been received, we can mobilize our crew and start site preparations for the largest drill program to date at Moosehead.”
Shares in SIC approached noon EDT Monday up 1.5 cents, or 13%, to 13 cents, on 158,000 shares.
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