Sokoman Iron (TSX-V:SIC) UPDATE – Western Trend Drill Hole Results Explained

Palisade Research August 29, 2018
Category: Research

Share Price: C$0.215

Shares Outstanding: 92.0M

Market Capitalization: C$19.8M

Cash: ~C$3.0M

Total Liabilities: C$0.1M

 

Sokoman Iron (TSX-V:SIC, FRA:3PJ1, OTCMKTS:GDNDF) – These holes prove that the Western Zone holds significant gold mineralization with a series of visible gold bearing veins – confirming and expanding upon previous drill results. . .

 

This is great news – but from the market’s reaction today, it appears that Sokoman’s release of 12 new holes was a miss.

The market is clearly misunderstanding these results. And the reason is not that the results aren’t good – rather it’s that they don’t realize the holes are a full 250 meters away from the bonanza high-grade hole that kicked off the ‘Sokoman Mania’ earlier this month.

That area is to be tested further with drilling this fall and winter. . .  

 

Holes MH-18-07 and MH-18-08 have both returned near surface gold in what is believed to be two new veins.

 

Further down the holes returned assays concurrent with previous drilling (MH-18-02 & MH-18-03), which shows the mineralization is continuous and open along strike.

 

Hole MH-18-08 intercepted 5.85m @ 2.79g/t Au which – if continuous along strike – is a significant intercept. 

 

MH-18-14 was collared to test a historical hole (MH-02-38) in the SW, which reported 2.02m @ 111g/t Au. This hole intercepted what is believed to be the same structure and returned results of 3.10m @ 0.65g/t, this will provide understanding on the orientation of the structure enabling a follow up program to be planned.

The nature of these high-grade, structurally complex, and controlled projects is that not all of the mineralized structure is equally mineralized – and hence require a lot of close spaced drilling to delineate a resource.

 

It appears here that there are multiple vein systems which host high-grade, visible gold mineralization, and the key is to understand these structurally in order to best target the mineralization.

 

Sokoman Iron has two distinct trends here: one in the East, which appears to strike SW-NE and hosted the high-grade hole MH-18-01. And the Western trench which currently has a strike of SE-NW.

Both these trends are open along strike and at depth.

In-depth structural knowledge will be key to understanding these so they can put the pieces of the puzzle together to form an ore deposit.

 

Palisade Global Investments Limited holds shares of Sokoman Iron Corp. We receive either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate. The information contained in such write-ups is not intended as individual investment advice and is not designed to meet your personal financial situation. Information contained in this report’s from sources we believe to be reliable, but its accuracy cannot be guaranteed. The opinions expressed in this report are those of Palisade Global Investments and are subject to change without notice. The information in this report may become outdated and there is no obligation to update any such information. Do your own due diligence.

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