Multiple shallow intercepts including 3.10 m of 100 g/t Au in MH-21-342
St. John’s, NL, January 20, 2022 – Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) is pleased to report additional high-grade assays from the Moosehead Project including several barge-based drill holes completed just prior to the Christmas break, which were “super rushed” for metallics assaying at Eastern Analytical Ltd. in Springdale, NL.
Assay highlights include:
- MH-21-342 – 5.55 m of 56.58 g/t Au incl. 3.10 m of 100.00 g/t Au from 67.80 m
- MH-21-345 – 4.75 m of 20.75 g/t Au incl. 2.25 m of 39.57 g/t Au from 117.65 m
- MH-21-346 – 9.60 m of 7.33 g/t Au incl. 4.55 m of 12.98 g/t Au from 122.20 m
Also included are drill holes from the 75 Zone which has been extended to the north towards the Main Eastern Trend (MH-21-298), as well as holes from the southern limit of the Eastern Trend (MH-21-259 and MH-21-263) stepping southwards towards the 75 Zone (see Drill Plan Map below). Additional drilling is planned to close the approximately 100 m gap between the two zones. Modelling is suggesting that shallow intercepts in the 75 Zone, including MH-21-298, 17.50 m downhole with 2.30 m at 9.75 g/t in 8.40 m of 3.35 g/t Au, may be a splay off the Eastern Zone and that the 75 Zone actually is the southward extension of the Main Eastern Trend which includes high-grade splays.
The drilling confirms very shallow, high-grade, gold-bearing veins lying in the Main Eastern Trend, as well as in splays or offshoots from it, as shown in an expanded table of results below included with this news release. Intersected, downhole, Au values quoted are thought to be 80-90% of true widths.
Tim Froude, President and CEO of Sokoman, says: “We continue to see strong, near surface Au values over good widths, from the Main Eastern Trend/Footwall Splay area, as well as the northern end of the 75 Zone (MH-21-298) enhancing our belief that the two zones will eventually merge. The barge drilling program is intersecting excellent infill and step-out Au values in holes in the Upper Eastern Trend/Footwall Splay including holes MH-21-345 and MH-21-346 that are located on the northernmost section drilled from the barge (see Cross Section Map below). These holes confirm a strong, high-grade Au zone that remains open, up-plunge to surface, and down plunge below 200 metres including previously released holes MH-19-62 (33.59 g/t Au over 4.80 m) and MH-21-200 (10.26 g/t Au over 3.80 m). The Au mineralization in Section A-B is defined over a minimum of 150 m down dip remaining open to depth and to surface. Additional drilling will take place either from the ice if conditions allow (permit is in hand) or from the barge in the spring.”
Modelling confirms that Moosehead Au mineralization is focused around the Eastern Trend and that mineralized offsets such as the Footwall Splay, may include others such as the 75 and South Pond Zones. An important goal for the remaining 50,000+ metres in the drilling program is to merge all of the zones into a single mineralized body.
Other gold mineralized areas:
253 Zone – located approximately 300 m to the east of the Eastern Trend – cut two zones of Au mineralization – 7.5 m of 0.31 g/t, 32 m downhole, and 1.78 g/t Au over 1.40 m, 54.8 m downhole, drilled last fall, require additional drilling to evaluate. Twelve (12) holes were drilled around hole 253 but due to logistical issues (streams and wetlands), were not able to properly test the zone. Assays for most holes are pending including the western-most hole (MH-20-273) which intersected quartz veining with two specks of visible gold noted. The 253 Zone is considered highly prospective as only 75 m of strike length has been tested, but most likely not tested properly, and the zone is mineralized, quartz float boulders with visible gold and high-grade Au values are found in the vicinity, and geophysics (VLF-EM) suggests a strike length of the structure, hosting the mineralized veins, of several kilometres. The 253 Zone is a separate structure and is not part of the Eastern Trend although the two zones are parallel to sub-parallel (see Drill Plan Map below). Winter conditions, snow and freezing temperatures, will allow for better positioning of the drills testing the 253 Zone over the next couple of months.
South Pond Zone – drilling on-hold pending additional modelling to get a better understanding of the structures controlling the Au mineralization. To date 29 holes (4250 m) completed with the high-grade zone traced 50 m along strike and 100 m down dip. The high-grade zone is believed to be a splay off of the Main Eastern Trend structure with the area where the two zones are projected to join being the focus of the next round of drilling this winter.
Near-surface gold mineralization, first intersected in MH-21-152 (3.0 m @1.82 g/t Au) is believed to be in the same structure as recent hole MH-21-251 which cut 3.65 m at 2.47 g/t Au in the southern part of the 75 Zone. Reconnaissance drilling in early December, to the east of the South Pond Zone, intersected 5.25 m at 1.93 g/t Au in hole MH-21-344 with textures and mineralogy indicating the mineralization is part of the Main Eastern Trend structure. The intersection is approximately 330 m to the south of MH-21-263 which is at the southern limit of the Eastern Trend. Additional drilling will test both targets at the start of the winter drilling 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.
To ensure a working environment that protects the health and safety of the staff and contractors, Sokoman is operating under federally and provincially mandated and recommended guidelines during the current COVID-19 alert level.
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is a discovery-oriented company with projects in the province of Newfoundland and Labrador, Canada. The Company’s primary focus is its portfolio of gold projects; flagship, advanced-stage Moosehead, Crippleback Lake (optioned to Trans Canada Gold Corp.) and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project in northwestern Newfoundland, that is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland. The Company also recently entered into a strategic alliance with Benton Resources Inc. through three, large-scale, joint-venture properties including Grey River, Golden Hope and Kepenkeck in Newfoundland.
Sokoman now controls, independently and through the Benton alliance, over 150,000 hectares (>6,000 claims – 1500 sq. km), making it one of the largest landholders in Newfoundland, in Canada’s newest and rapidly-emerging gold districts. The Company also retains an interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to White Metal Resources Inc., and in Labrador, the Company has a 100% interest in the Iron Horse (Fe) project which has Direct Shipping Ore (DSO) potential.
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 Fleur de Lys Project through the Junior Exploration Assistance Program.
Table of Results
Cross Section Map – Moosehead Gold Project
Drill Plan Map – Moosehead Gold Project
For further information, please contact:
Timothy Froude, P.Geo., President & CEO
CHF Capital Markets
Cathy Hume, Director, Investor Relations
Phone: 416-868-1079 x251
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. 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.