St. John’s, NL, April 22, 2020 – Sokoman Minerals Corp. (TSX-V: SIC) (OTCQB: SICNF) (the “Company” or “Sokoman”) today announced that it has made a strategic decision to follow-up on the recently completed Phase 5 drill program at Moosehead Gold Project with a short program to make use of the currently favourable weather conditions. The program is aimed at testing the northern extension of the lower high-grade shoot, where the Company has encountered some of its highest gold gram-metre results including MH-19-62 (7.2m @ 22.35 g/t Au) and MH-19-81 (6.4 m @17.34 g/t Au). The new holes will test, in 25 m step-outs, the northerly projection of the lower zone at about 200 m vertical depth.
The drill rig, which remained on the property after completion of the Phase 5 program, will be utilized to drill 3 to 4 holes, each to a down hole depth of 275-300m (~200m vertical), with a total of 800-1,000m proposed.
Tim Froude, President and CEO of Sokoman, said: “While hundreds of assays remain in the assay lab from the recently completed Phase 5 program, we see an opportunity to drill during the cold snap we are experiencing in Central Newfoundland. Sokoman will be taking additional precautions with respect to Covid-19 and maintaining social distancing during operations as required. The holes will be drilled from the east side of North Pond and should take two weeks to complete unless field conditions become unfavourable.”
The Phase 5 program, initiated in February and terminated in late March, consisted of 13 drill holes totaling 3,229 metres. Seven holes were drilled from the ice on North Pond testing the extension of the upper, high-grade, shoots of the Eastern Trend. Visible gold bearing quartz veins and mineralized host rock were intersected on all four sections over core intervals ranging from less than a metre to approximately 9.5 metres (true thickness estimated at 75-90% of core intervals).
Sokoman is in the planning stage for the remainder of 2020 at Moosehead, including ground follow-up on the results of the C-horizon till program, where, although only approximately 50% of the samples have been processed, three sites with 54, 62 and 63 grains of gold have been found, against a background of less than 10 grains. The geological model is also being updated to allow for a better planning of future diamond drill programs.
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.
*Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.
The Company would like to thank the Government of Newfoundland and Labrador for financial support of the project through the Junior Exploration Assistance Program in 2019 and is also applying for funding for the 2020 season.
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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.