Sokoman and Defiance Hit Bigly
I have been trying to get the message through to my readers for a couple of months that the next major move in the metals is higher and when the “Everything Bubble” soon bursts, gold and silver will be the only game left standing. There are dozens or hundreds of solid companies delivering great results and the market isn’t paying any attention to world-class numbers.
Newfoundland is turning into the place to be with incredible numbers almost daily from New Found Gold that just went over $1 billion market cap. But there are other great companies in the province at far lower prices with nice numbers.
I’ve written about Sokoman Minerals (SIC-V) before, about six weeks ago. The stock has doubled since then. On Wednesday April 28th they released eye-popping intercepts including 11.60 meters of 21.07 g/t Au from the Footwall Splay.
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This drill program just completed was their Phase Six campaign with two drills turning. The company is fully cashed up and expects to begin the next phase in mid to late May with a third drill being added in June. The company wants to know what lies at the intersection of the Footwall Splay and the Main Eastern structural trend. That will require a barge-based drill. Permits have been filed for that program. Sokoman hopes to begin drilling in late summer with a fourth drill.
At the South Pond deposit the company also released interesting results on the 28th including 3.05 meters of 16.54 g/t Au. That’s almost $950 rock. Sokoman has discovered a new zone in two of the holes drilling in that area, MH-21-152 and MH-21-153. Sokoman is hoping they have another Swan/Keats lookalike deposit of Fosterville and New Found Gold.
It’s been a little over six months since I have written about Defiance Silver (DEF-V) but they have a massive silver project I have visited a number of times going all the way back to 2003. The stock was about $.165 a share a year ago before blasting as high as $1.05 at the first of January this year.
Defiance is a true silver company. They just released outstanding results on the 28th as well. Hole DDSA-21-35 showed a broad intercept of 18.55 meters of 149 g/t AgEq. That is $125 rock and nothing to be sneezed at.
Within that wide interval was a core intercept of 1,340 AgEq over 1.57 meters. This is a vein system with a mine on one side of their project and another mine to the other side of their project. This isn’t rocket science people, they are going to have a mine when they have fleshed out the numbers.
Given that it is a vein system 1.57 meters of over $1100 rock is excellent.
The results released on the 28th were from four drill holes with a total of just under 1,500 meters that is part of a larger program that has completed 5,600 meters. The company is expanding the current drill program to a total of about 10,000 meters and results will be released as they arrive.
Sokoman and Defiance are both advertisers. I have participated in private placements with both firms and on occasion bought shares in the open market. Do your own due diligence.
Sokoman Minerals Corp
Defiance Silver Corp