Sokomon Iron - Moosehead Gold Property (NL, Canada)
In April 2018 Altius formally dealt the Moosehead gold property to Sokomon Iron Corp. ("Sokomon) and as consideration for the option, Sokoman issued 7,753,571 shares to Altius bringing Altius total shareholding in Sokomon to 19.9% of its issued and outstanding common shares (9,182,142). Sokoman has since funded in excess of $1 million in exploration drilling on the project encountering numerous zones of high grade gold mineralization and continue to advance the project. Altius retains a 1.5-per-cent net smelter return royalty and certain preferential rights on any future royalties or streams granted on the Moosehead property.
The Moosehead gold property is optimally located in a road accessible region of central Newfoundland and has been held in whole, or in part, by Altius for more than a decade. The project was subject of a “inactive” JV with Agnico Eagle (2001-2014) until October 2014 (the last significant work program on the property was in 2004). The 24.5km2 project features high grade gold mineralization with historical drill intersections of up to 170.3 g/t Au over 1.53 metres as well as wide spread mineralized quartz boulders grading up to 442 g/t Au in grab samples throughout the property.
Recent exploration and drilling highlights can be accessed at the Sokomom website at https://sokomanmineralscorp.com/project/moosehead-gold-project/.