SOKOMAN MINERALS COMPLETES DIAMOND DRILLING AT CLARKS BROOK, TERMINATES THE OPTION WITH METALS CREEK RESOURCES INC., AND PROVIDES MOOSEHEAD UPDATE
St. John’s, NL, September 25, 2019 – Sokoman Minerals Corp. (TSX-V: SIC) (OTCQB: SICNF) (the “Company” or “Sokoman”) has completed the 1,200-metre diamond drilling program at the Clarks Brook property, under option from Metals Creek Resources Inc. The 3-hole program tested the depth potential of the surface gold mineralization which was first drilled, and intersected, by Sokoman in its initial 2017/2018 drill program. Hole CB-19-08, drilled into the centre of the magnetic anomaly and under cutting DDH’s CB-18-6, 7, returned multiple zones of anomalous gold mineralization to a vertical depth of 400 metres with the highest values, from 73.6 to 80 m (6.4 m) at 2.26 g/t Au. Holes CB-19-09, 10, drilling the southern extension of the magnetic anomaly, verified widespread anomalous gold mineralization.
Significant assays* are highlighted in the following tables:
Note: Sample intervals reported are core lengths, true widths are not known at this time.
The program has confirmed that gold mineralization continues from surface to depths of at least 400 metres vertically and extends to depth, and along strike, to the north and south. Intervals of vuggy, chalcedonic, quartz veining with 1-3% disseminated pyrite, minor arsenopyrite and very minor stibnite, were intersected in hole CB-19-08 over intervals of up to 26 metres (core length – true thickness not known) giving values of 1 g/t Au with subintervals with values up to 0.80 metres of 5.94 g/t Au.
While the Au results showed a significant gold endowment in the area, which was encouraging, given our current emphasis on the Moosehead property and a heavy work commitment in 2020 to continue with the Clarks Brook option, the Company has decided to return the property to Metals Creek Resources Inc. Sokoman will not retain any interest the Clarks Brook property.
Moosehead Property Update
The Phase 4 diamond drill program has been completed, with a total of 4,272 metres in 18 holes drilled on the high-grade Eastern Trend, discovered by Sokoman in 2018. Core logging and sampling is ongoing and is expected to be completed in the next few days. A total of 1,071 samples have been submitted from the first 15 holes, for gold analysis by fire assay with the final three holes remaining to be sampled. The Company is expecting all samples to be to the laboratory by the end of the month with complete results expected mid to late October. Core logging and sampling for the Moosehead drilling was delayed due to the prioritization of the Clarks Brook drilling in advance of pending option payments to Metals Creek Resources Inc.
Selected core from the Phase 3 and 4 diamond drilling will be examined by structural experts from Dublin, Ireland-based, Earth Tectonics Ltd. in support of planning for the next Phase of drilling at Moosehead. Earth Tectonics has been involved with the Moosehead project since 2015, with Altius Resources, and again in 2018 after the completion of the Phase 1 drilling by Sokoman. The structural study will focus on the Eastern Trend to define target areas for a deep drilling program, once all data has been incorporated into the deposit model.
Timothy Froude, P. Geo., President and CEO, states: “While we believe that the Clarks Brook property warrants further exploration, we feel that we should focus on our flagship Moosehead property, and therefore we will return the Clarks Brook property to Metals Creek. At Moosehead, we have focused on a 1-2 km strike length centered on the Western, and newly discovered, Eastern Trends, in the central part of the property, however historical exploration has identified favourable structures, anomalous gold in float, till and soils in areas where only widely spaced drilling has been carried out over the 7.5 km length of the property. In the near term, we intend to evaluate the deep potential of Moosehead, since most gold mineralization has been found at depths shallower than 100 metres vertical. We now know that gold bearing structures are major structures with deeper roots that have not been tested and this will be the focus for us in the coming months.”
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.
Analytical Techniques / QA/QC
A total of XXXX samples*, including duplicates, blanks and standards, have been submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold analysis. Eastern Analytical is an accredited assay lab that conforms to requirements of ISO/IEC 17025. Samples with possible visible gold were submitted for total pulp metallics and gravimetric finish. All other samples were analyzed by standard fire assay methods. Total pulp metallic analysis includes: the whole sample is crushed to -10 mesh; then pulverized to 95% -150 mesh; the total sample is weighed and screened 150 mesh; the +150 mesh fraction is fire assayed for Au, and a 30 g subsample of the -150 mesh fraction is fire assayed for Au; with a calculated weighted average of total Au in the sample reported as well. One blank and one industry approved standard for every twenty samples submitted, is included in the sample stream. In addition random duplicates of selected samples are analyzed in addition to the in-house standard and duplicate policies of Eastern Analytical.
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 (Moosehead, Crippleback Lake and East Alder) 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 Inc. In Labrador, the Company has a 100% interest in the Iron Horse (Fe) 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.