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Sokoman Minerals Provides Summer Exploration Update
ST. JOHN'S, NL / ACCESSWIRE / May 9, 2019 / Sokoman Minerals Corp. (TSX-V: SIC) (OTCQB: SICN...
About this update from Pirate Gold Corp
[{"type":"text","content":"Sokoman Minerals Provides Summer Exploration UpdateST. JOHN'S, NL / ACCESSWIRE / May 9, 2019 / Sokoman Minerals Corp. (TSX-V: SIC) (OTCQB: SICNF) (the \"Company\" or \"Sokoman\") is pleased to provide the following update and outlook for the next 6 months for its portfolio of gold properties in Central Newfoundland. The bulk of the exploration will be directed at the flagship Moosehead Gold Project, including a Phase 4 diamond drilling program, with additional funding for the Company's other gold projects including Clarks Brook, East Alder and Crippleback Lake. All four projects lie in the emerging Central Newfoundland Gold District, an area anchored by the 4.2 million ounce gold project at Valentine Lake, operated by Marathon Gold (TSX: MOZ). Timothy Froude, P.Geo., President and CEO, states: \"We are looking forward to our summer exploration programs with great anticipation. Our focus has been, and will remain, the Moosehead Project, where we are following up on our 2018 high-grade gold discovery on the Eastern Trend, which is generating continuously strong results. We are now working on a 3-D model for the Moosehead mineralized zones and look forward to our Phase 4 drilling program expected to start mid-summer. Our other gold properties, although earlier stage, all show good potential too. Since they require continued option payments if we decide to keep them, we are spending what we feel is necessary to properly evaluate them. Scheduling, and forthcoming option requirements, means that work at Clarks Brook will begin as soon as possible (pending some approvals), followed by the Phase 4 drilling at Moosehead, with East Alder and Crippleback Lake programs commencing later in the summer.\" 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. The Company currently has $2.7 million in cash in the treasury and does not need to raise funds for the upcoming programs. MooseheadThe Company has drilled in excess of 14,000 metres of NQ size core in three phases since July 2018. The programs include, and are highlighted by, the discovery of a previously unrecognized shear zone hosting high-grade gold mineralization with a strike and dip different from ot...