St. John’s, NL, January 17, 2020 – Sokoman Minerals Corp. (TSX-V: SIC) (OTCQB: SICNF) (the “Company” or “Sokoman”) is pleased to provide an update on its current activities and near-term plans.
Notable events since the end of Phase 4 drilling include the following:
- The Company has commissioned an approximate 800 line-km airborne magnetic survey over the entire property to help map out mafic dikes as well as key structures important for mineralization.
- Sokoman has completed a till sampling program and the samples were submitted for gold grain study as well as Heavy Mineral Concentrate (HMC) analysis, with the results expected in March 2020.
- The 3-D Model of Moosehead is in the final stages of production and is expected to be finalized by the start of Phase 5 drilling. A recently released report on the structural controls of mineralization, in association with the 3-D Model, will form the basis of the next drill program.
- Phase 5 of drilling at Moosehead is expected to start in the beginning of February 2020.
Timothy Froude, P. Geo., President and CEO, comments: “We have been quite active at Moosehead and laying the framework for a busy and productive 2020. The marriage of the new till survey with a modern and detailed magnetic survey could unlock new zones of potential gold mineralization on underexplored areas of Moosehead. The main structural break extends the full length of the property, and historical work has shown that there is potential for gold mineralization along the entire length. We feel the time is right to evaluate the entire Moosehead Property ─ as history has shown, deposits tend to occur in clusters, and so far, we have only evaluated in detail 25% of the property.”
Airborne Magnetic Survey
Sokoman has commissioned the first magnetic survey over the property in almost 20 years. The new survey will be flown with a helicopter at 50 m line spacings, with the exception of a core area centered on the Western and Eastern Trends that will be at 25 m spacings. The strong spatial association of mafic dikes with areas of significant gold mineralization is a feature that the magnetic survey could help define, as well as identify targets over other areas of the property that have not been investigated to date. That survey is expected to be completed in the next 2-3 weeks.
Glacial Till Sampling
In late 2019, the Company completed a property wide, C-horizon till sampling program, to outline potential targets in other areas of the property identified by previous operators. Many historical till samples were not evaluated from a gold grain morphology perspective, most were simply analyzed for gold and other elements.
The Company feels that the most important aspect of a till sampling program is to determine how delicate gold grains are, as it is vital in helping locate where the exact source(s) of gold may lie. Previous workers have identified areas, particularly in the eastern and southern portion of the property, of gold bearing float, till and soil, with little to no follow-up. A large cluster of gold bearing quartz float (assaying from 5.40 to 17.20 g/t Au from grab samples), is known to exist at the north end of South Pond, just off the southern end of the current known strike length of the Eastern Trend. The till survey could help target the source of those float boulders.
The samples from the survey were shipped to Overburden Drilling Management in Ottawa for gold grain study as well as HMC analysis. The results of the till sampling are expected in March 2020.
Sokoman has been working with the contractor to upgrade the 3-D model of Moosehead and the recent results point to significant changes in the perception of the setting of the mineralization. Based on recommendations from the Structural Report, the scope of the 3-D modelling was increased to include the Western Trend.
The most significant development suggests that the Western Trend and Eastern Trend may be linked, and that the Western Trend appears to be a splay off of the main shear structure hosting the Eastern Trend. The model is now being refined and will help further define the Phase 5 drilling program.
Phase 5 Drilling
The Phase 5 Winter Program is expected to start in the beginning of February 2020. Field preparations have begun with flooding of North Pond in advance of an ice-based program to test the up-plunge extensions of the high-grade shoots in the Eastern Trend, as well as to test targets defined by the ongoing 3-D modelling. Sokoman has issued a call for bids for a minimum of 3,000 m, but the exact extent of the Phase 5 program will largely be weather dependent. The Company expects to conduct several phases of drilling in 2020.
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 (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.
The Company would like to thank the Government of Newfoundland and Labrador for financial support of the project in the past through the Junior Exploration Assistance Program. The Company is applying for funding for the upcoming season as well.
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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.