St. John’s, NL, August 7, 2019 – Sokoman Minerals Corp. (TSX-V: SIC) (OTCQB: SICNF) (the “Company” or “Sokoman”) is pleased to announce that the deep testing of the gold bearing structure at Clarks Brook will begin on August 15th following the receipt of all necessary permits. Clarks Brook lies 35 kilometres southeast of the Company’s Moosehead project in central Newfoundland and is road accessible. The minimum 1,200-metre program will test down to 400 metres vertically the mineralized zone defined by diamond drilling completed by Sokoman in late 2017 and early 2018. At that time, Sokoman completed approximately 1,000 metres of drilling in seven holes with all holes returning gold mineralization including CB-17-02 3.00 m @ 3.37 g/t Au incl. 0.25 m @ 26.90 g/t Au (core length); and CB-18-05 3.10 m @ 3.74 g/t Au incl. 0.60 m @ 14.73 g/t Au (core length). Additional details about Clarks Brook may be found on the Company’s website at www.sokomanmineralscorp.com.
The Clarks Brook Property exhibits textures and mineralization consistent with an epithermal style of gold mineralization in a trend sub-parallel to the Moosehead-Valentine Lake Trend. Numerous historical gold showings that lie on trend from Clarks Brook have strong epithermal characteristics including jasperoid development, silica sinters and pathfinder elements such as antimony and arsenic. The producing Beaver Brook antimony mine lies 14 kilometres on trend to the southwest of Clarks Brook.
The proposed program will consist of 3-4 strategically placed holes designed to test for deeper, higher-grade gold mineralization at what is commonly termed the boiling zone. The boiling zone can occur at depths ranging from 200-400 metres, sometimes deeper depending on specific deposit characteristics.
Timothy Froude, P. Geo., President and CEO, states: “This will certainly be a busy and exciting summer for our shareholders as we will be drilling our two most important projects at the same time. We firmly believe that what we have seen to date at Clarks Brook is consistent with the upper levels of an epithermal system and we have an excellent opportunity to test for higher grades which typically occur below the levels we see at surface and in the shallow drilling completed to date. Meanwhile, drilling continues at Moosehead, with 30% (approximately 1,200 metres) of proposed meterage completed. We intend to pause briefly next week to allow for the return of assays from the first couple of holes before continuing with the program.”
First results from the Phase 4 drilling at Moosehead are expected before the end of August. The results from the entire Phase 1 drilling program at Clarks Brook are expected mid- to late September.
The summer 2019 operating budget has been pegged at $1.20 million of which $750,000 is planned for the Moosehead Project, with the remaining $450,000 spread between the other three projects, with Clarks Brook accounting for about $250,000. The Company currently has $2.5 million in the treasury and does not need to raise funds for the upcoming programs.
The Company wishes to extend gratitude to the Government of Newfoundland and Labrador for its continued support of the Moosehead Project through the JEA program.
This news release has been reviewed and approved by Timothy Froude, P. Geo., a “Qualified Person” under National Instrument 43-101 and President and CEO of Sokoman Minerals Corp.
About Sokoman Minerals
Sokoman Minerals Corp. is a discovery-oriented company with projects in Newfoundland & Labrador, Canada. The Company’s primary focus is its portfolio of gold projects in Central Newfoundland on the structural corridor hosting Marathon Gold’s Valentine Lake project (with measured resources of 1.16 Moz. of gold at 2.18 g/t, indicated resources of 1.53 Moz. of gold at 1.66 g/t and inferred resources of 1.53 Moz. of gold at 1.77 g/t (Marathon Gold Website) 150 km southwest of the Company’s high-grade Moosehead gold project. The Company also has a 100% interest in an early-stage antimony/gold project in Newfoundland recently optioned to White Metal Resources, as well as a 100% interest in the Clarks Brook Gold Property, 35 km southeast of Moosehead. In Labrador, the Company has a 100% interest in the Iron Horse (Fe/U/REE) project.
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Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Minerals 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 Minerals Corp.