SOKOMAN IRON EXTENDS GOLD MINERALIZATION AND INTERSECTS A SECOND ZONE
AT CLARKS BROOK, CENTRAL NEWFOUNDLAND
April 5, 2018 – Puslinch, ON – Sokoman Iron Corp. (“Sokoman” or “the Company”) (TSX-V: SIC) is pleased to announce that all holes in the Phase Two program intersected gold mineralization including a second previously unknown zone, which returned the highest grades of the program. Diamond drill hole CB-18-5 intersected bleached and locally clay altered conglomerate cut by a network of narrow pyritic quartz veinlets that returned 3.74 g/t gold over 3.10 metres including 14.73 g/t gold over 0.60 metres.
This is the first time that gold mineralization has been observed in conglomeratic units. The Company now believes that many of the previous holes may have been shut down prematurely based on the understanding that gold mineralization observed to date on the property was historically hosted only in finer-grained rocks such as siltstone and sandstone. Therefore, gold mineralization at Clarks Brook may be much more extensive than originally thought. The conglomerate-hosted zone intersected in CB-18-5 lies approximately 100 metres east of, and across strike from, the discovery zone intersected in the 2017 drilling (see attached map).
Timothy Froude, P. Geo., Interim CEO states: “We continue to extend existing and discover new zones of gold mineralization at Clarks Brook. Whenever a property is drilled for the first time, as Clarks was last October, you have to be prepared for surprises and be flexible in the way you are thinking. We have learned much from Phase Two that gives us tremendous encouragement for the future and we now realize that we need a much bigger program at Clarks Brook. The mineralization remains open in all directions with a new zone discovered in the most recent phase of drilling.”
The original Clarks Brook prospect consists of a number of large (up to 1-2 square metres) angular siltstone/sandstone boulders from which previous operators had returned grab sample gold values ranging from 2.98 to 24.5 g/t gold (Altius Minerals Corp. (ALS) in 2004), and from the property vendor, Metals Creek Resources (MEK) in 2016, where thirteen (13) of the large angular blocks were grab sampled and yielded assays ranging from 0.24 g/t to 10.4 g/t gold. Note: The historical assay results mentioned in this news release were grab samples which are selective by nature and are unlikely to represent average grades of the property.
Sokoman’s Phase Two 594-metre (NQ) program with hole depths ranging from 172 to 213 metres (-40 to -52 degree dips) continued testing a strong magnetic low feature which appears to host the gold mineralization at Clarks Brook. Gold mineralization has now been intersected in all seven holes completed to date and the mineralization, including a second zone, intersected in CB-18-5, remains open in all directions. Note: Drill intercepts tabled below are believed to be 80 to 90% true thickness.
This news release has been reviewed and approved by Timothy Froude, P. Geo., a “Qualified Person” under National Instrument 43-101 and Interim CEO for Sokoman Iron Corp. Assaying of drill cores was carried out at Eastern Analytical Ltd. in Springdale NL, an ISO 17025 accredited lab. Eastern runs a blank and a certified standard in each batch of 24 samples and a pulp duplicate is run every 20 samples. Sokoman did not insert its own blanks or standards in the sample stream. Sampled core was cut using a diamond blade core saw with one half of sawn core retained for future reference. All logging and sampling of core was carried out by Sokoman personnel who also transported the samples directly to Eastern Analytical for Au (fire assay) and selected ICP 34 analysis. A total of 222 samples were cut ranging in length from 0.20 to 1.50 meters with a median length of 0.83 meters.
The Company would like to acknowledge the Government of Newfoundland and Labrador for financial support of this project through the JEA program.
About Sokoman Iron Corp.
Sokoman Iron Corp. (TSXV: SIC) is a discovery-focused company with projects in Newfoundland & Labrador, Canada. The Company’s primary focus is its portfolio of gold projects in Central Newfoundland. The Company also has interests in early-stage gold, base-metal and antimony projects in Newfoundland, as well as a 100% interest in the Iron Horse (Fe) project in Western Labrador.
Timothy Froude, P.Geo.,
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Iron Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Iron Corp.