MH-22-463 cuts 39.60 m of 12.50 g/t Au including 10.25 m of 41.97 g/t Au
St. John’s, NL, Sept 6, 2022 – Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) is pleased to report the following assay results from the ongoing 100,000 m Phase 6 program at Moosehead, including a 39.6 m intercept (core length) grading 12.50 g/t Au and a higher-grade interval of 10.25 m grading 41.97 g/t Au from the Lower Eastern Trend.
The mineralization in MH-22-463, located approximately 100 m below the limits of the modeled Eastern Trend, has a different vein style and geometry from other drill intersections in the vicinity. The intercept is thicker than any other intercept to date and includes the “typical” very high-grade vuggy-type veining with abundant visible gold and 5% – 7% accessory boulangerite and sphalerite, as well as a brecciated style of veining with specks of visible gold with minor boulangerite and sphalerite. This could suggest a changing structural setting within the Lower Eastern Trend.
The Company has re-engaged Ireland-based structural consultant, Dr. David Coller, to review and update existing structural models for the Moosehead mineralization to guide future drilling. Dr. Coller was instrumental in defining the structural concepts used to guide the initial drilling at Moosehead although his involvement has been limited due to Covid restrictions since 2020. Follow-up drilling will start once the structural review is completed.
The remaining holes reported today are largely within the main Eastern Trend, where we are expanding the mineralized shell. Limited drilling on the Western Trend was also carried out with the majority of assays pending.
Tim Froude, President and CEO of Sokoman, says: “The intersections reported today in hole MH-22-463 are significant in many respects and not just in average grade. We appear to be in an area where multiple gold-bearing structures are possibly converging, or we are looking at a new style of veining at Moosehead. We intend to step back and take a detailed look at the environment around hole MH-22-463 to better plan drilling moving forward while we still have significant meterage (~ 27,000 m) remaining. Compilation of the southern property area is going well, and we expect to have a series of holes planned to test our findings within three to four weeks. Drilling will continue at Moosehead with three drills including the barge-based rig. Less than 1,000 assays remain outstanding at the lab and represent parts or all of approximately 15 holes.”
Figure 1 – Drill Plan – Moosehead Project
The Moosehead Project has five zones of open-ended gold mineralization focused around the Eastern Trend in the central portion of the property with mineralization defined over a 600-m strike length and to over 300 m down dip. The Company is well funded with more than $7 million in the treasury.
Figure 2 – Drill Section
Table 1: Summary of New Drill Results – Moosehead Project
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.
Analytical Techniques / QA/QC
Samples, including duplicates, blanks, and standards, were submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold analysis. All core samples submitted for assay were saw cut by Sokoman personnel with one-half submitted for assay and one-half retained for reference. Samples were delivered in sealed bags directly to the lab by Sokoman personnel. Eastern Analytical Ltd. is an accredited assay lab that conforms to the 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 to 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. Random duplicates of selected samples are analyzed in addition to the in-house standard and duplicate policies of Eastern Analytical Ltd. All reported assays are uncut.
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 past financial support of the Moosehead Project through the Junior Exploration Assistance Program.
For further information, please contact:
Timothy Froude, P.Geo., President & CEO
CHF Capital Markets
Thomas Do, IR Manager
Phone: 416-868-1079 x 232
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.