Newsroom
Sokoman Iron Cuts 24.90 M Of 33.56 G/T Au At Eastern Trend, Nl
SOKOMAN IRON CUTS 24.90 m OF 33.56 g/t Au AT EASTERN TREND,
MOOSEHEAD PROJECT, NL
RIG 2 CUTS GOLD BEARING SYSTEM 1 km NORTH OF EASTERN TREND
St. John’s, NL; November 16, 2018 – Sokoman Iron Corp. (‘Sokoman’ or ‘the Company’) (TSX-V: SIC) is pleased to announce that it has received assay results for five of seven holes completed to date in the Eastern Trend, part of the Phase 2 drilling on the Moosehead Project, Central Newfoundland, and that diamond drilling is continuing with two drill rigs. Approximately 5,000 metres in 19 holes have been completed property wide thus far in Phase 2. Program highlights include:
Eastern Trend high-grade mineralization extended in two step-outs to the north of MH-18-01;
MH-18-17 returns 24.90 m core length grading 33.56 g/t Au (15 m step-out north of
MH-18-01);
Rig #2 cuts gold bearing vein system 1 km north of the Eastern and Western Trend area.
Timothy Froude, P. Geo., President and CEO, states: “Early results from the Phase 2 drilling have expanded the extent of high-grade gold mineralization in the Eastern Trend, as well as discovering a potentially significant new zone of gold mineralization in MH-18-103, one km to the north of the Eastern Trend. The drill holes have also demonstrated that the orientation of the structure hosting the Eastern Trend mineralization is different than initially thought, and that future drill testing of the Eastern Trend would be more effectively completed during the winter from the ice on North Pond. This will result in shorter drill holes required to intersect and define the lateral extent of the Eastern zone, than drilling from the west of North Pond. Moosehead is a complex system and we are learning with every hole. Rig #2 has made a potentially significant discovery in MH-18-103, located approximately 1 km to the north that requires further testing in an area with little previous drilling.”
A total of 2,493 metres in seven holes, MH-18-16 to 22, have been completed in the Eastern Trend by Rig #1 following up on results from drill hole MH-18-01 that returned 11.90 m grading 44.96 g/t Au (Sokoman Iron News Release July 24, 2018). Two step-out holes (MH-18-17 and MH-18-20), drilled 15 and 30 metres respectively to the north of MH-18-01 (see plan attached), intersected multiple zones of visible gold bearing quartz veins hosted in altered and mineralized sediments highlighted by MH-18-17 that returned a core length of 24.90 m grading 33.56 g/t Au. Drill holes MH-18-16, and 18 and 19 on the Eastern trend gave weak to moderate gold values over variable core lengths (see Table) with additional assays pending from hole 20. No drilling has yet been carried out to the south of MH-18-01, but holes are planned in the coming weeks.
The Phase 2 drilling also indicates that the Eastern Trend mineralization appears to be moderately north to northeast dipping, not a subvertical, west dipping structure as initially thought. This new structural interpretation also suggests that the Eastern and Western trends may be linked, with deformation and therefore gold mineralization, stronger in the Eastern Trend area. The idea of this linkage was initially proposed in a structural report on the Moosehead property by previous operators in 2016. Seven holes totaling 777 metres have been completed in the Western Trend following up on results from Phase 1 that included 2.28m grading 42.36 g/t Au from MH-18-08 (Sokoman News Release August 29, 2018).
Results for holes MH-18-21 and 22 (Eastern Trend), and MH-18-23 to 29 (Western Trend) are pending.
Note: Core length intercepts reported are 50 to 90% of true thickness.
Rig #2 has completed five holes (1,331 metres, holes MH-18-101 to 105) testing targets up to one km to the north of the Eastern and Western Trend areas (see attached plan). These include a zone of historical anomalous soil and float samples with values ranging from less than 5 ppb Au to a maximum of 64 ppb Au in soils, and from less than 5 ppb Au to a maximum value of 180 g/t Au in rock float samples* outlined over a 400 metre strike length by previous operators. A 2002 drill hole, MH-02-39, in the vicinity of the historical anomalies, reported an eight metre zone of brecciation and veining with maximum assays of 552 ppb Au over 2.3 m* in a broader zone of anomalous gold values. *Values reported are historical in nature and not verified by Sokoman Iron Corp.
Sokoman drill hole MH-18-103, collared 30 metres ahead (west) of MH-02-39, intersected the historical brecciated zone, but continued beyond the termination of the 2002 drill hole and intersected a second, more strongly mineralized vein zone, 2.40 m in core length (true thickness unknown at this time). This lower zone, with 3-5% pyrite, sphalerite and sulphosalt (boulangerite) with visible gold, lies approximately 30 metres beyond the termination of the 2002 drill hole. The lower vein zone is similar to high-grade mineralized veins in the Western Trend, located one km to the south, and to the high-grade boulders located just west of the collar. Sokoman believes this second vein zone is the source of the high-grade float found in this area immediately to the west of the collar. Additional drilling is ongoing in this area, which represents the northernmost holes drilled on the property.
QA/QC
A total of 1300 samples, including duplicates, blanks and standards, have been submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold and ICP analysis. Samples with possible visible gold were submitted for total pulp metallics and gravimetric finish. All other samples were analyzed by standard fire assay methods. Eastern Analytical is an accredited assay lab that conforms to requirements of ISO/IEC 17025. Total pulp metallic analysis is a result of a whole sample being crushed to -10 mesh and pulverized to 95% -150 mesh. The total sample is then 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. A calculated weighted average of total Au in the sample is reported as well. The Company included in the sample stream one blank and one industry approved standard for every twenty samples submitted, as well as random duplicates of selected samples. This is in addition to the in-house standard and duplicate policy of Eastern Analytical.
QP
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 for Sokoman Iron Corp.
Drilling services is being provided by the Diamond Drilling Division of Springdale Forest Resources Inc., a diversified natural resources-focused company based in Springdale, NL. The Company would also like to thank the Government of Newfoundland and Labrador for approving the Moosehead Program for 2018 JEA Funding.
About Sokoman Iron Corp.
Sokoman Iron Corp. (TSX-V: SIC) is a discovery-focused company with projects in Newfoundland & Labrador, Canada. Sokoman’s primary focus is its portfolio of gold projects in Central Newfoundland. The Company also has interests in early-stage gold, base-metal and antimony projects in Newfoundland, as well as a 100% interest in the Iron Horse (Fe/V/REE) project in Western Labrador.
To learn more, please contact:
Timothy Froude, P. Geo., President & CEO
Phone: 709-765-1726
Email: tfroude@sokomaniron.com
Cathy Hume,
Investor Relations
Phone: 416-868-1079
Email: cathy@chfir.com
Website: www.sokomaniron.com
Twitter: @SokomanIron
Facebook: @SokomanIron
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.
Forward-Looking Statements:
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 Iron 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 Iron Corp.
Plan Map
Sokoman Iron Commences Phase 2 Moosehead, Central Newfoundland
SOKOMAN IRON MOBILIZES RIG #1 AND COMMENCES PHASE 2 DRILLING AT MOOSEHEAD, CENTRAL NEWFOUNDLAND
St. John’s, NL, October 1, 2018 – Sokoman Iron Corp. (“Sokoman” or “the Company”) (TSX-V: SIC) is pleased to announce that the first of two diamond drill rigs have been mobilized to the Moosehead Gold Project and will begin core drilling immediately.
The proposed program will consist of up to 10,000 metres of NQ-sized core utilizing two diamond drill rigs operating 24 hours a day with two shifts per rig. At least 50% of the proposed meterage will focus on the Eastern and Western Trends to follow up and expand on the very successful Phase 1 program completed last month, with the exact number of holes to be determined by results received.
Rig #1 will focus on the Eastern Trend area immediately surrounding the high-grade intercept from MH-18-01 which cut 11.90 m @ 44.96 g/t Au (core thickness) from the Eastern Trend (see NR July 24, 2018). A series of approximately 15 m to 25 m spaced bracket and undercut holes will be completed to depths of 250 to 300 metres to establish a strike, dip and/or plunge of the high-grade intercept reported from MH-18-01. These same holes will also target the historical intercept from MH-03-15 of 0.45 m of 278 g/t Au from drilling completed in 2003, which remains the deepest intercept to date (200 m vertically) on the property, and which was the original target of MH-18-01.
Rig #1 will also expand on open-ended mineralization in the Western Trend testing for extensions of near surface (less than 50 metres depth), high-grade gold bearing quartz veins similar to veins intersected by MH-18-08 which cut two vein zones assaying 1.05 m @ 207.51 g/t Au from 8.50 m downhole, and 2.28 m @ 42.36 g/t Au from 33.07 m downhole (see NR August 29, 2018).
Rig #2 will commence drilling approximately one week after Rig #1 and will be largely testing high-priority targets outlined by historical drilling elsewhere along the two-kilometre-long, roughly north south trending North Pond, South Pond and Discovery Faults. A total of 20-30 holes ranging from 100 to 300 metres in depth will test targets up to one kilometre north and south of the core area defined by the Western and Eastern Trends. The Western Trend is located between these key faults while the Eastern Trend appears to lie just east of the main structures and may be lying on a previously unrecognized structure. These targets include multiple historical drill holes that reported visible gold but had limited or no follow-up drilling. Additional details will be provided once the rig has been mobilized to the property.
Timeline
The program is expected to take two months to complete, however, certain targets may be more effectively and environmentally responsibly tested when the ground is frozen. These holes will be added to a Phase 3 program which would begin in early 2019 once all results from Phase 2 have been received and compiled. The Company expects to release drilling results in batches as the program progresses.
About Sokoman Iron Corp.
Sokoman Iron Corp. (TSX-V: SIC) is a discovery-oriented company with projects in Newfoundland & Labrador, Canada. The Company’s primary focus is its portfolio of gold projects in Central Newfoundland on the structural corridor hosting the 3.1 million ounce Valentine Lake gold project 150 km southwest of the Company’s high-grade Moosehead gold project. The Company also has a 100% interest in an early-stage antimony project in Newfoundland, as well as a 100% interest in the Iron Horse (Fe/U/REE) project in Western Labrador.
For more information, please contact:
Sokoman Iron Corp.
Timothy Froude, P. Geo., President & CEO
Phone: 709-765-1726
Email: tfroude@sokomaniron.com
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079
Email: cathy@chfir.com
Website: www.sokomaniron.com
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 Iron 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 Iron Corp.
Eric Myung Appointed CFO And Issuance Of Incentive Stock Options
SOKOMAN IRON ANNOUNCES APPOINTMENT OF ERIC MYUNG AS CFO AND ISSUANCE OF INCENTIVE STOCK OPTIONS
St. John’s, NL, September 13, 2018 – Sokoman Iron Corp. (“Sokoman” or “the Company”) (TSX-V: SIC) today announced that Mr. John Ryan has resigned as CFO and Director of the Company to pursue other opportunities, effective immediately. Mr. Ryan will stay on as a consultant to ensure the year- end audit is completed on time. The Company extends its thanks to John and wishes him well in the future. Sokoman is pleased to welcome Mr. Eric Myung as its new CFO. The transition is expected to be seamless and orderly.
Mr. Myung is a Senior Financial Analyst of Marrelli Support Services Inc. and has previously worked in a public accounting firm focused on small and medium business for seven years. Mr. Myung is a Canadian Chartered Professional Accountant and has a Master of Accounting degree from University of Waterloo.
Issuance of Incentive Stock Options
The Company announces that, in accordance with its stock option plan and subject to regulatory approval, it has granted 3,950,000 incentive stock options, exercisable at $0.16 for a period of 5 years to directors, officers, employees and consultants of the Company.
About Marrelli Support Services Inc.
The Marrelli Group of Companies provides reporting issuers and private clients the following offerings – DSA Corporate Services and DSA Filing Services; MSSI Financial Accounting and MSSI Outsourced Chief Financial Officer Services. Working with public companies across all sectors of the economy, their client base consists of reporting issuers listed on the Toronto Stock Exchange (TSX), the TSX Venture Exchange (TSX-V), and the Canadian Securities Exchange (CSE), including many companies inter-listed on U.S. and other international markets.
About Sokoman Iron Corp.
Sokoman Iron Corp. (TSX-V: SIC) is a discovery-oriented company with projects in Newfoundland & Labrador, Canada. The Company’s primary focus is its portfolio of gold projects in Central Newfoundland on the structural corridor hosting the 3.1 million ounce Valentine Lake gold project 150 km southwest of the Company’s high grade Moosehead gold project. The Company also has a 100% interest in an early-stage antimony project in Newfoundland, as well as a 100% interest in the Iron Horse (Fe/U/REE) project in Western Labrador.
For more information, please contact:
Sokoman Iron Corp.
Timothy Froude, P. Geo., President & CEO
Phone: 709-765-1726
Email: tfroude@sokomaniron.com
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079
Email: cathy@chfir.com
Website: www.sokomaniron.com
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 Iron 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 Iron Corp.
The Northern Miner – Sokoman Iron Sparks Gold Fever In Nl
Sokoman Iron (TSXV: SIC; US-OTC: GDNDF) has struck gold with the first hole in drilling at its Moosehead gold project in central Newfoundland, 20 km west of the town of Grand Falls-Windsor.
On July 30, Sokoman reported hole 18-1 cut 45 grams gold per tonne over 11.9 metres from 109 metres downhole. Significant assay results were also found up and downhole of the quartz vein. That vein lies between the previously drilled Western and Eastern trends at Sokoman’s Moosehead gold project, possibly indicating a new trend.
Sokoman Receives Western Trend Assays At Moosehead, Newfoundland
HISTORICAL HIGH-GRADE RESULTS CONFIRMED AND EXPANDED, TWO NEW NEAR-SURFACE VEIN ZONES DISCOVERED
St. John’s, NL, August 29, 2018 – Sokoman Iron Corp. (‘Sokoman’ or ‘the Company’) (TSX-V: SIC) is pleased to announce that it has received assay results from the remaining 12 holes completed at the Moosehead Project in Central Newfoundland, with holes MH-18-07 and MH-18-08 intersecting near surface, high-grade visible gold veins highlighted by MH-18-08 intersecting two vein zones assaying 1.05 m @ 207.51 g/t Au from 8.50 m downhole, and 2.28 m @ 42.36 g/t Au from 33.07 m downhole.
Diamond drill holes MH-18-04 to MH-18-13 focused on the Western Trend (see attached drill plan) approximately 250 m west of the Eastern Trend. Eight of the 15 holes completed in Phase 1 reported visible gold-bearing quartz vein zones. Highlights of the remaining holes are shown in the following table, and a more detailed set of results can be found at the end of this news release including additional intercepts in MH-18-01.
Note: Core length intercepts reported are 50 to 90% of true thickness.
Timothy Froude, P. Geo., President and CEO, states: “Results from Phase 1 have surpassed our expectations and have given us great cause to be optimistic about the future. The recent financing has provided us with the opportunity to thoroughly evaluate the Moosehead property and to unlock its full potential. Like many structurally controlled gold deposits, this will entail a lot of drilling – likely, closely spaced. Phase 2 will focus on the Eastern Trend’s high-grade mineralization intersected in MH-18-01, and continue to build on open-ended zones of mineralization in the Western Trend as well as other areas of the property.
The results confirm and expand on historical results from the Western Trend area and are highlighted by holes MH-18-07 and MH-18-08 (collared 40 metres apart) which intersected high-grade (visible gold bearing) veins at or less than 1 metre vertically from the bedrock contact immediately below the overburden. MH-18-07 intersected mineralized quartz 1.00 metres down hole and MH-18-08 cut a mineralized quartz vein zone at a downhole depth of 1.05 metres. Both near surface veins are believed to be new veins, and both holes also intersected additional mineralized veins at shallow depths (15 to 25 metres vertically) that extend mineralization intersected in previously released holes MH-18-02 and MH-18-03 by 50 metres to the west and the mineralization remains open. MH-18-13, drilled 50 metres on section northeast of (beneath) MH-18-08, successfully extended the high-grade structure by 50 metres to the north, down dip of the high-grade intercept (2.28m @ 42.36 g/t Au core length) in MH-18-08. The current program did not test the zone any further to the west.
Drill hole MH-18-14 was collared to test for a possible southwest trend to historical hole MH-02-38 which reported 2.02 m @ 111 g/t Au (not verified by Sokoman), the hole did intersect a weakly mineralized structure not believed to be the same structure intersected by the historical hole. The Company is planning additional drilling in the vicinity of MH-02-38 based on knowledge gained from MH-18-14. MH-18-15 was a reconnaissance hole drilled to test a historical soil geochemical anomaly approximately 450 metres north of the Eastern Trend. The hole did intersect a weakly mineralized fault zone, but no significant results were obtained.
The Company has also received the results of the televiewer survey completed on selected holes from the Phase 1 Program, specifically MH-18-01, 02, 04 and 08. The results are being compiled and matched with the drill logs and will help formulate the next Phase of drilling expected to commence on or about October 1, 2018, pending receipt of all necessary permits. Sokoman will be seeking quotes for up to 10,000 metres of drilling in the coming days and expect site preparations to begin sometime after mid-September. The Company will provide a further update at that time.
QA/QC
A total of 495 samples, including duplicates, blanks and standards, have been submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold and ICP analysis. Samples suspected of carrying visible gold were submitted for total pulp metallics and gravimetric finish. All other samples were analyzed by standard fire assay methods. Eastern Analytical is an accredited assay lab that conforms to requirements of ISO/IEC 17025. Total pulp metallic analysis is a result of a whole sample being crushed to -10 mesh and pulverized to 95% -150 mesh. The total sample is then 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. A calculated weighted average of total Au in the sample is reported as well. The Company included in the sample stream one blank and one industry approved standard for every ten samples submitted, as well as random duplicates of selected samples. This is in addition to the in-house standard and duplicate policy of Eastern Analytical.
Diamond drilling was carried out by Springdale Forest Resources, who provided superior drilling services while maintaining a stringent environmental policy. The Company would also like to thank the Government of Newfoundland and Labrador for approving the Moosehead Program for 2018 JEA Funding.
QP
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 for Sokoman Iron Corp.
About Sokoman Iron Corp.
Sokoman Iron Corp. (TSX-V: SIC) is a discovery-focused company with projects in Newfoundland & Labrador, Canada. Sokoman’s primary focus is its portfolio of gold projects in Central Newfoundland. The Company also has interests in early-stage gold, base-metal and antimony projects in Newfoundland, as well as a 100% interest in the Iron Horse (Fe/V/REE) project in Western Labrador.
Contact:
Timothy Froude, P. Geo., President & CEO
Phone: 709-765-1726
Email: tfroude@sokomaniron.com
Cathy Hume, Director
Phone: 416-868-1079
Email: cathy@chfir.com
Website: www.sokomaniron.com
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 Iron 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 Iron Corp.
Phase 1. Expanded Summary Table of Results – Moosehead Project, NL
View Larger Table Of Results Here
* Locally significant grades of silver (Ag) do occur at Moosehead but appear limited to extremely high gold grades.
Previously unreleased assays in bold type.
View Larger Drill Hole Plan Here
Sokoman Assays Confirm High-Grade Gold Moosehead Project Nl
SOKOMAN ASSAYS CONFIRM HIGH-GRADE GOLD INTERSECTIONS AT MOOSEHEAD PROJECT, NEWFOUNDLAND
Puslinch, ON, July 24, 2018 – Sokoman Iron Corp. (‘Sokoman’ or ‘the Company’) (TSX-V: SIC) today announced that it has received assay results from drilling recently completed at the Moosehead Gold Project in Central Newfoundland. The Company has completed a total of 1970.5 m in 15 holes as proposed in its Phase I program. Assay results have been received for the first three holes and the results confirm that the Company has made a high-grade discovery in an area with little previous drilling.
The Company’s first hole, MH-18-01, intersected a mineralized zone that has returned the following summarized assays: from 109.00 m – 120.90 m (11.90 m @ 44.96 g/t Au).
Timothy Froude, P. Geo., Interim CEO, states: “We are very pleased with our initial results from the Moosehead Project. The significance of MH-18-01 lies not only with the exceptional grades of the gold-bearing quartz vein, but that for at least 5 m up-hole and down-hole of the vein, significant assays were also reported. The 17 samples comprising the 11.90 m intercept included nine samples returning greater than 1.0 g/t Au. The area surrounding MH-18-01 will be prominent in our distribution of drill holes in Phase II.”
Note: A table of compiled results to date is shown below. True thickness of above noted intercept is believed to be 80% of core length. All other intercepts range from 50% to 90% of core length.
MH-18-01 was drilled to test the up-dip potential of an intercept reported by Altius Resources Inc. (“Altius”) in 2003 of 278 g/t Au over 0.45 m at a down-hole depth of 257 m or a vertical depth of 200 m (the Eastern Trend*) (results are historical in nature and have not been independently confirmed).
The intercept reported by Altius was the deepest to date from the property. MH-18-01 was to test the Eastern Trend intercept approximately 50 m vertically above the historical intercept. MH-18-01 cut two separate zones of gold mineralization, highlighted by a 1.35 m quartz vein (core length) that contained a minimum of 50 specks of visible gold (see previous News Release of June 28, 2018) and from which assays have subsequently returned 1.35 m grading 385.85 g/t Au. This new vein was encountered at a down-hole depth of 115.25 m (vertical depth of 80 m) approximately 80 m up-hole from the intended target of the drill hole. A second zone, 40 m further down the hole, returned assays of 8.95 m grading 4.20 g/t Au including 1.33 m grading 19.72 g/t Au. The Company believes this second zone to possibly correlate with the 2003 intercept reported by Altius. *The Eastern Trend is located approximately 250 meters east of the center of the Western Trend. The high-grade vein discovery lies between the two Trends.
Assay results for drill holes MH-18-02 and MH-18-03 (results highlighted in the table above) tested near surface mineralization (less than 50 m depth) previously reported by Altius in the Western Trend, and the results confirmed and extended historical 2001 results in MH-01-13. MH-01-13 returned 30.03 m (core length) of 6.71 g/t Au in a quartz vein that was later realized to have been drilled downdip. MH-18-02 was drilled to test the true thickness of the vein and intersected a 3.30 m vein that returned 6.76 g/t Au. MH-18-03, designed to test the up-dip extension of the MH-01-13 intercept, returned 6.42 m grading 8.18 g/t Au. The Western Trend program was designed in part to verify historical drilling results and also to extend open-ended historical intercepts which could ultimately lead to an initial resource estimate.
The Company has now completed the Phase I diamond drilling program as well as the down-hole televiewer (camera) survey on selected holes including MH-18-01 and plans to assess all data while planning the second Phase of drilling which is expected to begin in early fall 2018.
About the Moosehead Property
The Moosehead project is host to widespread gold mineralization, currently interpreted as an orogenic system that has been intersected over a 2 km long by 500 m wide zone, locally with high gold grades as demonstrated by historical drilling programs. The project is strategically located in north-central Newfoundland with the TransCanada Highway crossing the northern portion of the property and Route 360 lying 1.2 km northwest of most previous drilling. The town of Grand Falls-Windsor lies 20 km west of the property. In addition, secondary roads and drill trails offer excellent access to virtually the entire property. The Moosehead project lies on the northeast extension of a regional gold bearing structural corridor that hosts the advanced stage Valentine Lake gold project of Marathon Gold, located approximately 150 kilometers southwest of the property.
On November 10, 2017, Altius and Sokoman entered into a definitive agreement whereby Sokoman has the exclusive right to acquire a 100% interest (subject to an existing 0.5% NSR royalty) in Altius’s Moosehead Gold Project in central Newfoundland. On March 23, 2018, Sokoman announced that the TSX Venture Exchange had accepted for filing all of the documents in regard to the Moosehead property transaction as previously announced on November 9, 2017.
QA/QC
A total of 495 samples, including duplicates, blanks and standards, have been submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold and ICP analysis. Samples suspected of carrying visible gold were submitted for total pulp metallics and gravimetric finish. All other samples were analyzed by standard fire assay methods. Eastern Analytical is an accredited assay lab that conforms with requirements of ISO/IEC 17025. Total pulp metallic analysis is when the whole sample is crushed to -10 mesh and pulverized to 95% -150 mesh. The total sample is then 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. A calculated weighted average of total Au in the sample is reported as well. The Company included in the sample stream one blank and one industry approved standard for every ten samples submitted, as well as random duplicates of selected samples. This is in addition to the in-house standard and duplicate policy of Eastern Analytical. Diamond drilling was carried out by Springdale Forest Resources, who provided superior drilling services while maintaining a high regard for the environment.
Qualified Person
This news release has been reviewed and approved by Timothy Froude, P. Geo., a “Qualified Person” under National Instrument 43-101 and Interim CEO for Sokoman Iron Corp.
About Sokoman Iron Corp.
Sokoman Iron Corp. (TSXV: SIC) is a discovery-focused company with projects in Newfoundland & Labrador, Canada. The Company’s primary focus is its portfolio of gold projects in Central Newfoundland. The Company also has interests in early-stage gold, base-metal and antimony projects in Newfoundland, as well as a 100% interest in the Iron Horse (Fe) project in Western Labrador.
Contact:
Timothy Froude, P. Geo., CEO Phone: 709-765-1726
Email: tfroude@sokomaniron.com Website: www.sokomaniron.com
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 Iron 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 Iron Corp.
Sokoman Iron Mobilizes Drill To Commence Phase I Drilling
SOKOMAN IRON MOBILIZES DRILL TO COMMENCE PHASE I DRILLING AT MOOSEHEAD GOLD PROJECT, CENTRAL NEWFOUNDLAND
Puslinch, ON, June 18, 2018 – Sokoman Iron Corp. (‘Sokoman‘ or ’the Company‘) (TSX-V: SIC) today announced it has mobilized a diamond drill rig to commence Phase I diamond drilling at the Moosehead Gold project in central Newfoundland. The 2,000-metre program will consist of 12 to 15 holes and is expected to take 5-6 weeks to complete.
The company intends to complete downhole televiewer (camera) logging of selected drill holes to determine key structural information and mineralized vein orientations. The observations from the televiewer survey, to be completed by DGI Geoscience Inc. of Toronto, Ontario, will aid in follow up drill hole placement, azimuth and dip. Expected turnaround time for assay results is three to five weeks. The company will report assays in batches once they have been compiled and interpreted.
The program will have three main objectives (see May 25, 2018 News Release):
focusing on the near surface (less than 50 m deep) high-grade historical intercepts* in the Western Trend including historical results of 27.74 g/t Au over 5.58 m starting at 33.92 m in MH-01-13 (including 96.71 g/t Au over 1.50 m);
high-grade historical intercepts in the Eastern Trend (53.36 g/t Au over 2.35 m starting at 255.36 m including 277.96 g/t Au over 0.45 m):
selected reconnaissance targets defined by anomalous soil geochemistry (values ranging from less than detection to 79 ppb Au) and unsourced float (sample 12159 that assayed 180 g/t Au) lying to the north and east of the main zone of mineralization and believed to indicate a source(s) independent of the main zone.
(Note: core, soil and rock sample values stated are historical in nature and not verified by Sokoman Iron.).
The Moosehead project is host to widespread, orogenic lode gold mineralization that has been intersected over a 2-km long by 500 m wide zone, locally with very high gold grades as demonstrated by historical drilling programs. The project is strategically located in north-central Newfoundland with the TransCanada Highway crossing the northern portion of the property, and Route 360 lying 1.2 km northwest of most previous drilling. The town of Grand Falls-Windsor lies 20 km west of the property, and the town of Gander is located 75 km to the east. The deep water port of Botwood lies 17 km north of the property. In addition, secondary roads and drill trails offer excellent access to virtually the entire property. Moosehead lies 33 km northwest of Sokoman’s Clarks Brook Gold project where assays from the recently completed Phase II drill program (594 m) successfully extended the known mineralized trend and intersected a second, subparallel zone of gold mineralization returning 3.74 g/t gold over 3.10 m including 14.73 g/t gold over 0.60 m (April 4, 2018 News Release).
On November 10, 2017, Altius Resources Inc. and Sokoman Iron Corp. entered into a definitive agreement whereby Sokoman has the exclusive right to acquire a 100% interest (subject to an existing 0.5% NSR royalty in Altius Resources Inc’s high-grade Moosehead Gold Project in central Newfoundland (the ‘Option’). On March 23, 2018, Sokoman announced that the TSX Venture Exchange had accepted for filing all of the documents in regard to the Moosehead property transaction as previously announced on November 9, 2017. Sokoman has also issued the share payment and related warrant certificate to Altius Minerals Inc. (‘Altius’) consisting of 7,754,371 common shares and 1,428,571 share purchase warrants. Upon closing, Altius will hold a total of 9,182,942 common shares of Sokoman Iron Corp. which represents 19.9% of the outstanding shares of Sokoman at the time of the closing of Sokoman’s November 2017 financing. The issued share purchase warrants have a strike price of 5 cents good for three years after the date of the closing.
*Note: Historical drill results reported in this release were from saw cut NQ sized drill core with analysis carried out by either ALS Chemex in Vancouver, B.C., XRAL Laboratories in Don Mills, ON, or, Chimitec Laboratories in Val d’Or, QC. Vein material was analyzed by a 1000 gram metallic screen preparation and fire assay analysis, with standard fire assay for the remaining samples. A 32 element ICP scan was also completed on all samples. The work is historical in nature and non NI 43-101 compliant and Sokoman has not yet independently verified the data. True width of selected intercepts may vary between 30-100% of the reported interval.
Qualified Person
This news release has been reviewed and approved by Timothy Froude, P. Geo., a “Qualified Person” under National Instrument 43-101 and Interim CEO for Sokoman Iron Corp.
About Sokoman Iron Corp.
Sokoman Iron Corp. (TSXV: SIC) is a discovery-focused company with projects in Newfoundland & Labrador, Canada. The Company’s primary focus is its portfolio of gold projects in Central Newfoundland. The Company also has interests in early-stage gold, base-metal and antimony projects in Newfoundland, as well as a 100% interest in the Iron Horse (Fe) project in Western Labrador.
Contact:
Timothy Froude, P. Geo., Interim CEO
Phone: 709-765-1726
Email: tfroude@sokomaniron.com
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 Iron 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 Iron Corp.
Sokoman Iron Provides Moosehead Gold Project Update
SOKOMAN IRON PROVIDES MOOSEHEAD GOLD PROJECT UPDATE:
REVISED 3-D MODELLING UNDERWAY
Puslinch, ON, April 25, 2018 – Sokoman Iron Corp. (“Sokoman” or “the Company”) (TSX-V: SIC) today announced that the modelling of historical diamond drilling carried out at Moosehead from 1996 to 2004 is underway and when complete, will help the Company prioritize and plan for a Phase I drilling program which is expected to begin in mid-May. The revised 3-D model will incorporate three phases of drilling completed between 2002 – 2004 after the original modelling was done in early 2002.
Timothy Froude, P. Geo., Interim CEO states: “We are anxious to get the drill turning at Moosehead. The Phase I program will be the first diamond drilling to be initiated at Moosehead since 2004 and will test several targets including the high grade shallow zone; the deeper high-grade zone in MH-03-15; and new targets defined by Altius Resources from their 2015-2016 exploration program.”
The Moosehead project is host to widespread, orogenic lode gold mineralization, that has been intersected over a two km long by 500 m wide zone, locally with very high grades as shown below.
*Note: Historical drill results reported in this release were from saw cut NQ sized drill core with analysis carried out by either ALS Chemex in Vancouver, B.C., XRAL Laboratories in Don Mills, ON, or, Chimitec Laboratories in Val d’Or, QC. Vein material was analyzed by a 1000 gram metallic screen preparation and fire assay analysis, with standard fire assay for the remaining samples. A 32 element ICP scan was also completed on all samples. The work is historical in nature and non NI 43-101 compliant and SIC have not yet independently verified the data. True width of selected intercepts may vary between 30-100% of the reported interval.
The Company has also submitted permit applications for the forthcoming diamond drilling program and permits are expected to be in hand in 4-6 weeks. The Phase I program will consist of up to 2000 metres of drilling and will have three objectives; to expand on the near surface high grade mineralization previously identified, to test the deeper high grade which has been tested by only a single hole (MH-03-15), and to test high priority coincidental soil and mineralized float identified along trend of the main zones of mineralization. Structural analysis including information from the 2016 trenching and downhole televiewer analysis by Altius has provided a new interpretation of the structures controlling mineralization and concluded that most historic drilling on the property did not adequately test the mineralization.
The Moosehead property is strategically located in north central Newfoundland with the TransCanada Highway crossing the northern portion of the property, and Route 360 lying 1.2 kms northwest of the bulk of the previous drilling. The town of Grand Falls-Windsor lies 20 kms west of the property, and the town of Gander is located 75 kms to the east. The deep water port of Botwood lies 17 kms north of the property and secondary roads and drill trails offer excellent access to virtually the entire property. Moosehead lies 33 kms northwest of Sokoman’s Clarks Brook Gold project where assays from the recently completed Phase II drilling program (594 m) successfully extended the known mineralized trend and intersected a second, subparallel zone of gold mineralization (April 4, 2018 News Release).
On November 10, 2017, Altius Resources Inc. and Sokoman Iron Corp. entered into a definitive agreement whereby Sokoman has the exclusive right to acquire a 100% interest (subject to an existing 0.5% NSR royalty) in Altius Resources Inc’s high-grade Moosehead Gold Project in central Newfoundland (the Option). On March 23, 2018, Sokoman announced that the TSX Venture Exchange had accepted for filing all of the documents in regard to the Moosehead property transaction as previously announced on November 9, 2017. Sokoman has also issued the share payment and related warrant certificate to Altius Minerals Inc. (Altius) consisting of 7,754,371 common shares and 1,428,571 share purchase warrants. Upon closing, Altius will hold a total of 9,182,942 common shares of Sokoman Iron Corp. which represents 19.9% of the outstanding shares of Sokoman at the time of the closing of Sokoman’s November 2017 financing. The issued share purchase warrants have a strike price of 5 cents good for three years after the date of the closing.
This news release has been reviewed and approved by Timothy Froude, P. Geo., a “Qualified Person” under National Instrument 43-101 and Interim CEO for Sokoman Iron Corp.
About Sokoman Iron Corp.
Sokoman Iron Corp. (TSXV: SIC) is a discovery-focused company with projects in Newfoundland & Labrador, Canada. The Company’s primary focus is its portfolio of gold projects in Central Newfoundland. The Company also has interests in early-stage gold, base-metal and antimony projects in Newfoundland, as well as a 100% interest in the Iron Horse (Fe) project in Western Labrador.
Contact:
Timothy Froude, P. Geo., Interim CEO
Phone: 709-765-1726
Email: tfroude@sokomaniron.com
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 Iron 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 Iron Corp.
Sokoman Iron Extends Gold Mineralization And Intersects 2nd Zone
SOKOMAN IRON EXTENDS GOLD MINERALIZATION AND INTERSECTS A SECOND ZONE
AT CLARKS BROOK, CENTRAL NEWFOUNDLAND
April 5, 2018 – Puslinch, ON – Sokoman Iron Corp. (“Sokoman” or “the Company”) (TSX-V: SIC) is pleased to announce that all holes in the Phase Two program intersected gold mineralization including a second previously unknown zone, which returned the highest grades of the program. Diamond drill hole CB-18-5 intersected bleached and locally clay altered conglomerate cut by a network of narrow pyritic quartz veinlets that returned 3.74 g/t gold over 3.10 metres including 14.73 g/t gold over 0.60 metres.
This is the first time that gold mineralization has been observed in conglomeratic units. The Company now believes that many of the previous holes may have been shut down prematurely based on the understanding that gold mineralization observed to date on the property was historically hosted only in finer-grained rocks such as siltstone and sandstone. Therefore, gold mineralization at Clarks Brook may be much more extensive than originally thought. The conglomerate-hosted zone intersected in CB-18-5 lies approximately 100 metres east of, and across strike from, the discovery zone intersected in the 2017 drilling (see attached map).
Timothy Froude, P. Geo., Interim CEO states: “We continue to extend existing and discover new zones of gold mineralization at Clarks Brook. Whenever a property is drilled for the first time, as Clarks was last October, you have to be prepared for surprises and be flexible in the way you are thinking. We have learned much from Phase Two that gives us tremendous encouragement for the future and we now realize that we need a much bigger program at Clarks Brook. The mineralization remains open in all directions with a new zone discovered in the most recent phase of drilling.”
The original Clarks Brook prospect consists of a number of large (up to 1-2 square metres) angular siltstone/sandstone boulders from which previous operators had returned grab sample gold values ranging from 2.98 to 24.5 g/t gold (Altius Minerals Corp. (ALS) in 2004), and from the property vendor, Metals Creek Resources (MEK) in 2016, where thirteen (13) of the large angular blocks were grab sampled and yielded assays ranging from 0.24 g/t to 10.4 g/t gold. Note: The historical assay results mentioned in this news release were grab samples which are selective by nature and are unlikely to represent average grades of the property.
Sokoman’s Phase Two 594-metre (NQ) program with hole depths ranging from 172 to 213 metres (-40 to -52 degree dips) continued testing a strong magnetic low feature which appears to host the gold mineralization at Clarks Brook. Gold mineralization has now been intersected in all seven holes completed to date and the mineralization, including a second zone, intersected in CB-18-5, remains open in all directions. Note: Drill intercepts tabled below are believed to be 80 to 90% true thickness.
This news release has been reviewed and approved by Timothy Froude, P. Geo., a “Qualified Person” under National Instrument 43-101 and Interim CEO for Sokoman Iron Corp. Assaying of drill cores was carried out at Eastern Analytical Ltd. in Springdale NL, an ISO 17025 accredited lab. Eastern runs a blank and a certified standard in each batch of 24 samples and a pulp duplicate is run every 20 samples. Sokoman did not insert its own blanks or standards in the sample stream. Sampled core was cut using a diamond blade core saw with one half of sawn core retained for future reference. All logging and sampling of core was carried out by Sokoman personnel who also transported the samples directly to Eastern Analytical for Au (fire assay) and selected ICP 34 analysis. A total of 222 samples were cut ranging in length from 0.20 to 1.50 meters with a median length of 0.83 meters.
The Company would like to acknowledge the Government of Newfoundland and Labrador for financial support of this project through the JEA program.
About Sokoman Iron Corp.
Sokoman Iron Corp. (TSXV: SIC) is a discovery-focused company with projects in Newfoundland & Labrador, Canada. The Company’s primary focus is its portfolio of gold projects in Central Newfoundland. The Company also has interests in early-stage gold, base-metal and antimony projects in Newfoundland, as well as a 100% interest in the Iron Horse (Fe) project in Western Labrador.
Contact:
Timothy Froude, P.Geo.,
Interim CEO
709-765-1726
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. The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Iron 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 Iron Corp.
Sokoman Iron Corp. & Altius Resources Inc. Option Agreement
SOKOMAN IRON CORP. and ALTIUS RESOURCES INC. COMPLETE MOOSEHEAD OPTION AGREEMENT
March 23, 2018, Puslinch, ON. – Sokoman Iron Corp (Sokoman) (TSX-V: SIC) is pleased to announce that the TSX Venture Exchange has accepted for filing all of the documents in regard to the Moosehead property transaction as previously announced on November 9, 2017. Sokoman has also issued the share payment and related warrant certificate to Altius Minerals Inc. (Altius) consisting of 7,754,371 common shares* and 1,428,571 share purchase warrants. Upon closing, Altius will hold a total of 9,182,942 common shares of Sokoman Iron Corp. which represents 19.9% of the outstanding shares of Sokoman at the time of the closing of Sokoman’s November 2017 financing. The issued share purchase warrants have a strike price of 5 cents good for three years after the date of the closing.
On November 10, 2017, both parties entered into a definitive agreement whereby Sokoman has the exclusive right to acquire a 100% interest (subject to an existing 0.5% NSR royalty) in Altius Resources Inc’s** high grade Moosehead Gold Project in central Newfoundland (the Option). The 98 claim (2450 ha) property has returned numerous significant drill intercepts, with highlights as follows;
DDH MH-01-13 returned 11.05 g/t gold over 17.11 m from 38.00 m downhole;
DDH MH-02-38 returned 14.07 g/t gold over 16.84 m from 74.38 m downhole;
True width of selected intercepts may vary between 30-100% of the reported interval.
The mineralization remains open along strike and to depth with the deepest intercept (MH-03-15) returning 277.96 g/t gold over 0.44 m starting at 257.26 m downhole. A total of 111 drill holes have been completed at the Moosehead property over a 2 km strike length of the 8.5 km long property with an average depth of only 108 m. Structural analysis including information from the 2016 trenching and downhole televiewer analysis by Altius has provided a new interpretation of the structures controlling mineralization and concluded that most historic drilling on the property did not adequately test the mineralization. In addition, the source of mineralized float found during Altius’ 2016 trenching program on the property, along with panned gold grains, remains unresolved.
Sokoman intends to provide updated maps and related reports on the Moosehead Property as soon as possible and, will immediately file for the required exploration permits to begin Phase 1 drilling (1500 meters) which is expected to begin in late May or early June, 2018.
Timothy Froude, P. Geo., Interim CEO states; “We are extremely pleased to finalize the deal with Altius Resources for Moosehead. The acquisition clearly defines Sokoman as a significant player in the active central Newfoundland Gold district. The Moosehead property is strategically located in north central Newfoundland with the TransCanada Highway crossing the northern portion of the property, and Route 360 lying 1.2 kms northwest of the bulk of the previous drilling. The town of Grand Falls-Windsor lies 20 kms west of the property, and the town of Gander is located 75 kms to the east. The deep water port of Botwood lies 17 kms north of the property and secondary roads and drill trails offer excellent access to virtually the entire property. Moosehead lies 33 kms northwest of Sokoman’s Clarks Brook Gold project where assays from the recently completed Phase II drilling program (594 m) are expected shortly.
*At the time of the announcing of the agreement, Altius Minerals Corporation held 1,428,571 common shares of Sokoman Iron Corp.
**Altius Resources Inc. is a 100% owned subsidiary of Altius Minerals Corporation.
This news release has been reviewed and approved by Timothy Froude, P. Geo., a “Qualified Person” under National Instrument 43-101 and Interim CEO for Sokoman Iron Corp. For further information please contact Timothy Froude at 709-765-1726, or by email at tfroude@sokomaniron.com 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. The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Iron 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 Iron Corp.
Sokoman Iron Commences Ph.Ii Drilling Clarks Brook Gold Property
SOKOMAN IRON COMMENCES PHASE II DRILLING ON CLARKS BROOK GOLD PROPERTY, CENTRAL NEWFOUNDLAND
Puslinch, Ontario – (FSCwire – February 7, 2018) – Sokoman Iron Corp (Sokoman) (TSX-V: SIC) today announced that it has commenced Phase II drilling on the Clarks Brook Gold Property, located in central Newfoundland. The road accessible Clarks Brook prospect was staked by Metals Creek Resources Corporation (MEK) in late 2016 and subsequently optioned by Sokoman in late 2017 (see News Release August 23, 2017).
The Clarks Brook prospect consists of a number of large (up to 1-2 m square) angular boulders from which previous operators had returned grab sample gold values ranging from 2.98 to 24.5 g/t gold (Altius Minerals Corp. (ALS) in 2004), and from the property vendor Metals Creek Resources (MEK) in 2016, where thirteen (13) of the large angular blocks were grab sampled and yielded assays ranging from 0.24 g/t to 10.4 g/t gold. In addition, a single outcrop of bedrock mineralization of similar style to that of the boulders, returned a grab sample assay of 19.24 g/t gold.
Note: The historical assay results mentioned in this news release were grab samples which are selective by nature and are unlikely to represent average grades of the property.
Sokoman’s four hole, 515 m Phase I program, with hole depths ranging from 105 to 143 m (-40 to -52 degree dips), was the first drilling to be completed on the property and all four holes intersected a variably mineralized structural zone carrying widespread and locally significant gold grades. Based on the four holes completed, the mineralization remains open along strike and to depth.
Selected Phase I highlights include (true thicknesses are believed to be 70% – 80% of reported widths):
CB-17-1 1.65 g/t Au over 2.40 m (from 100.84 – 103.25 m)
CB-17-2 3.37 g/t Au over3.00 m (from 127.75 – 130.75 m)
incl. 4.63 g/t Au over1.65 m (from 127.75 – 129.40 m)
incl. 26.9 g/t Au over0.25 m (from 127.75 – 128.00 m)
CB-17-4 2.34 g/t Au over 1.55 m (from 117.00 – 118.55 m)
The Phase II program will test the mineralization along strike to the northeast, as well as a coincidental magnetic and IP chargeability anomaly 100 m east of the area drilled in Phase I, and similar in strength to the anomaly tested by Phase I (see attached map).
Timothy Froude, P. Geo., Interim CEO states; “Phase I verified the existence of locally significant in situ gold mineralization at Clarks Brook, the first holes to be completed on the property. The geophysical signature of the known mineralization appears to extend for several hundred metres to the edge of the surveyed area, and quite possibly beyond, and we have only tested 100 metres of the structure to date.”
This news release has been reviewed and approved by Timothy Froude, P. Geo., a “Qualified Person” under National Instrument 43-101 and Interim CEO for Sokoman Iron Corp.
Contact:
Timothy Froude at 709-765-1726, or by email at tfroude@sokomaniron.com
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. The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Iron 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 Iron Corp.
Sokoman Iron Corp. Closes Flow-Through Financing
Sokoman Iron Corp. Closes Flow-Through Financing
January 8, 2018 – Sokoman Iron Corp., TSX-V SIC (the “Company” or “SIC”) is pleased to announce that, following TSXV approval, it closed the previously announced non-brokered Flow- Through private placement (the “Placement”) for gross proceeds of $174,960 consisting of 2,916,000 flow-through units at a price of $0.06 per unit. The purchaser is Pavilion Flow-Through L.P. (2017).
Each flow-through unit under the Placement consists of one flow-through common share and one half warrant. Each full warrant will entitle the holder to purchase one additional non flow-through common share of the Company at an exercise price of $0.09 during the 24 months from the closing date. All securities issued in the Placement are subject to a four month hold period. In connection with the Placement, the Company will issue 109,350 finders warrants having the same terms as the flow through warrants issued under the Placement, and pay commissions totaling $13,122.00.
The Company plans on using the proceeds from the Placement to advance its portfolio of gold projects in central Newfoundland. The Company will use best efforts to ensure that such Canadian Exploration Expenses qualify as a “flow-through mining expenditure” for purposes of the Income Tax Act (Canada), related to the exploration of the Company’s exploration projects.
About Sokoman Iron Corp.
Sokoman Iron Corp. is a discovery-focused company with projects in Newfoundland & Labrador, Canada. The Company’s primary focus is its portfolio of gold projects in Central Newfoundland including the recently acquired (pending Exchange approval) Moosehead Gold Project, the Clarks Brook Project, and the East Alder/Crippleback Lake Projects, all straddling major gold bearing structures in the region. The Company also has a 100% interest in the Iron Horse Project in the eastern Labrador Trough, and an early stage antimony (Sb) property in central Newfoundland.
For further information please contact Timothy Froude at 709-765-1726, or by email at tfroude@sokomaniron.com
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. The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Iron 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
Iron Corp.
Sokoman Iron Corp Confirms In Situ Gold Mineralization In Nl
SOKOMAN IRON CORP CONFIRMS IN SITU GOLD MINERALIZATION AT CLARKS BROOK, CENTRAL NEWFOUNDLAND
Locally grades to 26.9 g/t Au over 0.25 m; Phase 2 Drilling Program Planned for early 2018
December 21, 2017, Puslinch, ON. – Sokoman Iron Corp (Sokoman) (TSX-V: SIC) is pleased to announce the results from the Phase 1 drill program completed in late October 2017 at the Clarks Brook property in central Newfoundland. Selected highlights from the Phase 1 2017 diamond drill program are as follows:
CB-17-1 5.58 g/t Au / 0.30 m (from 99.20m – 99.50m)
and 1.65 g/t Au / 2.40 m (from 100.84m – 103.25m)
CB-17-2 5.46 g/t Au / 0.50 m (from 71.20m – 71.70)
and 3.37 g/t Au / 3.00 m (from 127.75 – 130.75)
incl. 4.63 g/t Au / 1.65 m (from 127.75 – 129.40)
incl. 26.9 g/t Au/ 0.25 m (from 127.75 – 128.00)
CB-17-3 0.38 g/t Au / 7.35 m (from 46.30 – 53.65)
incl. 3.36 g/t Au / 0.50 m (from 51.40 – 51.90)
CB-17-4 1.55 g/t Au / 0.70 m (from 107.35 – 108.05)
and 2.34 g/t Au / 1.55 m (from 117.00 – 118.55)
Note: Reported intervals are believed to be 80 to 90 percent of true intervals. Individual sample lengths ranged from 0.25 to 0.85 m in length. All core samples were saw cut in half with one half submitted for gold analysis by fire assay at Eastern Analytical Limited in Springdale, NL. Core sampling and sample shipment completed by Sokoman Iron personnel.
Sokoman’s four hole, 515 m Phase 1 program, with hole depths ranging from 105 to 143 meters (-45 degree dips), was the first drilling to be completed on the property and all four holes intersected a variably mineralized structural zone carrying widespread and locally significant gold grades (see attached plan map and drill section). The location of the mineralized blocks (and outcrop) in a stream bed prevented previous operators from effectively trenching the mineralization. Other than grab sampling, the Phase 1 drilling was the first real attempt to evaluate the zone. Based on the four holes completed, the mineralization remains open along strike and to depth, and the company intends to commence a Phase 2 drilling program to begin in early 2018. In addition, examination of the core with assay results in hand identified the need for additional sampling which will be carried out in early 2018.
The Clarks Brook prospect, consists of a number of large (up to 1-2 m square) angular boulders from which previous operators had returned grab sample gold values ranging from a minimum of 2.98 g/t to a maximum of 24.5 g/t gold (Altius Minerals Corp. (ALS) in 2004), and from the property vendor,
Metals Creek Resources (MEK) in 2016, where thirteen (13) of the large angular blocks were grab sampled and yielded assays ranging from a minimum of 0.24 g/t to a maximum of 10.4 g/t gold. In addition, Metals Creek reported a single sample of bedrock mineralization of similar style to that of the boulders, returned a grab sample assay of 19.24 g/t gold. (Note: grab sample assays are selective in nature and not necessarily representative of average gold grades that may occur on the property.)
Timothy Froude, P. Geo., and interim CEO states; “The Phase 1 program at Clarks Brook has been a complete success, and we are already looking forward to the Phase 2 program. We have verified the existence of a new, and potentially significant gold mineralized system at Clarks Brook that is wide open, and has locally very strong gold grades. In combination with our recently acquired Moosehead Project and the East Alder/Crippleback Lake project, all in road accessible Central Newfoundland, we are positioning Sokoman to be a significant player in this emerging district. The region is one of the more active districts in Canada and we intend to push forward with aggressive programs to take advantage of the momentum building in Newfoundland.”
The Clarks Brook Project lies 30 kilometers southwest of the town of Glenwood and 14 kilometers from the idle Beaver Brook antimony mine. The recently acquired Moosehead property lies 33 kilometers northwest of the property and all are road accessible.
This news release has been reviewed and approved by Timothy Froude, P. Geo., a “Qualified Person” under National Instrument 43-101 and Interim CEO for Sokoman Iron Corp. For further information please contact Timothy Froude at 709-765-1726, or by email at tfroude@sokomaniron.com 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. The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Iron 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 Iron Corp.
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