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Sokoman Minerals Cuts High-Grade Gold in Step-Out Drilling at Moosehead Project, Central Newfoundland
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Sokoman Minerals Cuts High-Grade Gold in Step-Out Drilling at Moosehead Project, Central Newfoundland
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Spruce Ridge Resources Limited: Spruce Ridge Announces Closing of Non-Brokered Flow-Through Financing
PUSLINCH, ON / ACCESSWIRE / January 20, 2021 / Spruce Ridge Resources Ltd. (TSXV:SHL) ( Spruce Ridge or the Company ) is pleased to announce that it has closed the final tranche of its previously announced non-brokered private placement of flow-through shares (see News Release dated January 11, 2021) for gross proceeds of $1,006,640 consisting of 7,189,000 Flow-Through shares at a price of $0.14 per share. The total amount raised was $1,616,640.
In connection with the final tranche private placement, the Company will pay $48,612 in finders fees and will issue 286,960 broker warrants exercisable at $0.14 for 24 months from the date of issue, as permitted by the policies of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a four-month hold period.
Sokoman Minerals Resumes Phase 6 Drill Program at Moosehead Gold Project, Central Newfoundland
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ST JOHN S, NL / ACCESSWIRE / January 19, 2021 / Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) ( the Company or Sokoman ) is pleased to announce that drilling operations have re-started with the first of two rigs at the high-grade Moosehead Gold Project in central Newfoundland. Initially the focus will be on further defining and expanding on areas of high-grade gold mineralization in the northern portion of the Eastern Trend, proximal to historical hole MH-02-38 that intersected a broad zone of gold mineralization from 76.38 m to 88.22 m, highlighted by a 2.02 m intercept grading 111.96 g/t Au from 83.82 m downhole. MH-02-38 lies approximately 300 m north of MH-20-115 that returned two zones of high-grade gold including 4.60 m @ 47.20 g/t Au, now known as the Footwall Splay, as well as a slightly deeper intersection from the Main Eastern Trend that returned 8.10 m @ 68.25 g/t Au (November 19, 2020 NR). Modelling suggests that the intersection in MH-02-38 could represent a spla