Summer drilling program confirms high gold grades on property near Grand Falls-Windsor
Sokoman Iron plans second round of drilling to begin Oct. 1
As a child Timothy Froude explored the wilds surrounding Grand Falls-Windsor with a fishing pole and youthful enthusiasm. Now he’s doing it with diamond drills and the keen eye of a professional geologist.
“It’s kind of ironic, I’ve spent 30 years of my career basically globetrotting and here I am home in my own backyard now with arguably the hottest property I’ve ever been involved with,” said the CEO of Sokoman Iron.
That property, dubbed Moosehead, is literally a potential gold mine just 20 kilometres east of Grand Falls-Windsor where the company recently concluded its first phase of drilling since acquiring the property from Altius Minerals.
Initial results of 6.2 to 208 grams gold per tonne (g/t) build on historical drilling that also showed extremely high values.
“It’s a high-grade property and A diamond drill operating this past summer on the Moosehead gold property near Grand Falls-Windsor.
grade is king, as they say in this business,” Froude said.
High grades do not necessarily make an economic deposit, however, and the company is still a long way from defining a mineable resource.
“It depends on how concentrated the drilling is,” Froude said. “These high-grade vein systems are generally notorious for requiring lots of tight-space drilling.
“In spite of the fact that there was over a hundred holes drilled on the project before we came along, in the big scheme of things, that’s still not a lot of holes.”
Nevertheless, it is and exciting prospect, he said, especially considering the location.
“The Trans-Canada Highway runs through it,” he said. “It’s an old logged off area so there’s lots of access trails; it’s a property we can explore very cheaply.”
Froude also noted other infrastructure advantages, such as the proximity to the deep-water port at Botwood, should Moosehead eventually become a mine.
There is a lot of interest in gold in Newfoundland and Labrador right now.
“I have to tip my hat to companies like Altius and certainly Marathon Gold,” Froude said.
“Traditionally Newfoundland has never been a place that people would say is prime gold country; we’ve always been known more for our base metals. But thanks to people like Altius, who have done a wonderful job developing properties and farming them out, and Marathon now with north of three million ounces already defined—it wouldn’t surprise me at all to see at the end of the day somewhere between five and 10 million ounces, and I’ll stand by that— at Valentine Lake (north of Port aux Basques).
“People now realize, hey, you can find large gold deposits in Newfoundland, you can find high-grade gold deposits in Newfoundland.”
Froude explained that prior to 1980 there had only been 35 documented gold occurrences in the province. Now there are more than 500 and there have been four producing gold mines since then.
“We’re just getting started,” he said.
He also credited the provincial government for doing the base science that prospectors and exploration companies rely on and for programs such as the Junior Exploration Program, which provides funding for companies including Sokoman.
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