On Tuesday, the Sokoman Minerals Corp (OTCMKTS:SICNF) suffered from a bit of a selloff and ended up with losses of as much as 10% for the day. While the losses recorded by the stock were substantial, it is perhaps also necessary to point out that the company did make a major announcement yesterday and investors could take a look.
The announcement was in relation to the Phase 6 drilling that was being conducted by the company at the Moosehead Property that is owned in its entirety by Sokoman. Sokoman noted that during the course of the drilling more high grade gold mineralisation was discovered at Lower East Trend and in the 75 zone.
It goes without saying that it was a major development for Sokoman Minerals and it is going to be interesting to see if the stock can eventually make a recover over the coming days or not. The President and Chief Executive Officer of the company Tim Froude spoke about the whole thing as well.
He said that everyone at the company was pleased with the progress made by the company in Phase 6 of drilling. He went on to add that around 19000m worth of drilling is still to go.
