Sokoman Expands 75 Zone And Releases Additional Results From Eastern Trend, Moosehead Gold Project, Central Newfoundland
New Structure Intersected 300 m East of Eastern Trend;
Barge-Based Drilling on North Pond Underway at Footwall Splay and Upper Eastern Trend
St. John’s, NL, September 28, 2021 – Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (the “Company” or “Sokoman”) is pleased to announce that ongoing Phase 6 drilling at the 100%-owned Moosehead Property in central Newfoundland has intersected additional high-grade gold mineralization at both the Lower Eastern Trend and in the 75 Zone, located approximately 100 m along strike south of the main Eastern Trend. (Note: see full table of results, plan map and long section for the 75 Zone and the Eastern Trend further in this release. Not all previous intersections appear on section.)
Highlights of the recently-received rush assays (including total pulp metallics) include:
MH-21-234: 30.59 g/t Au over 2.75 m (within 4.80 m of 17.56 g/t Au)
from the 75 ZoneMH-21-243: 32.72 g/t Au over 1.70 m (within 9.20 m of 6.70 g/t Au)
from the 75 ZoneMH-21-215: 36.15 g/t Au over 0.35 m (within 2.35 m of 20.39 g/t Au)
from the Eastern TrendMH-21-229: 18.41 g/t Au over 2.10 m (within 5.10 m of 7.64 g/t Au)
from the Eastern Trend
The Company is also pleased to announce that reconnaissance drilling testing for the source of gold-bearing boulders, discovered earlier this year 300 m to the east of North Pond (see July 6, 2021 news release), has intersected a significant structure (named the 253 Zone), featuring strong quartz veining and variable sulphide mineralization, mainly pyrite and arsenopyrite. Assays are pending and additional drilling is planned.
Tim Froude, President and CEO of Sokoman, says: “We are extremely pleased with the progress of Phase 6 with approximately 19,000 m remaining to be drilled this year. Today’s results give strong support to the growth potential of the 75 Zone with the drilling suggesting that the 75 Zone is linked to the larger Eastern Trend to the north. Our goal is to verify this connection by drilling step-out holes to the north and also down-plunge to test the zone at depth.
“The barge-based component of Phase 6 has started, and the first hole has been completed without any issues with drilling to continue until freeze-up, expected to be in late November / early December. At least 5,000 m of drilling is planned to test the Upper Eastern Trend and Footwall Splay targets where previous drilling has given some of our best holes to date including earlier Phase 6 hole MH-21-115 that gave 4.6 m of 47 g/t Au (Footwall Splay) and 8 m of 68 g/t Au (Upper Eastern Trend).
“We are also pleased to report that drilling which tested the area of the VG boulders, located earlier this summer (July 6, 2021, News Release), has intersected a previously unknown structure, parallel to the main Eastern Trend. The new structure (the 253 Zone), which carries significant veining with associated sulphides, is potentially several kilometres in strike extent based on geophysics, is open both to the northeast and southwest and will be subject to further drilling this fall. Assays are pending and further details will be provided once additional holes have been completed and assays have been received.
“We currently have four drills at Moosehead, including the recently arrived barge rig. Our intention is to temporarily relocate one of the land-based rigs for a month to carry out a Phase 1 drill program (2,000 m) at our Grey River JV with Benton Resources Inc. to test high-priority targets before winter sets in. This will take place shortly with the rig returning to Moosehead to continue testing regional targets, including the newly discovered 253 Zone until year-end.”
75 Zone
Drilling at the 75 Zone continues on 10 m – 15 m step-outs from MH-19-75, originally drilled in the fall of 2019 that had a 5.80 m intersection of 6.93 g/t Au from 87.50 m downhole, including two visible gold-bearing veins that gave 30.42 g/t Au over 0.30 m, and 32.99 g/t Au over 0.80 m. MH-21-234, collared 60 m northwest of MH-19-75, gave 30.59 g/t Au over 2.75 m (within 4.80 m of 17.56 g/t Au). MH-21-243, collared 80 m south-southwest of MH-19-75, gave 32.72 g/t Au over 1.70 m (within 9.20 m of 6.70 g/t Au). These results give the 75 Zone a minimum 100 m north-south strike extent and open to depth from surface. Drilling will continue in the area until the end of the season.
Eastern Trend
One drill continues to infill / extend gold mineralization in the Lower Eastern Trend, and the barge-based drilling has commenced in the Upper Eastern Trend / Footwall Splay targets. Results from the Eastern Trend and the 75 Zone, up to September 28, 2021, are shown in the table below.
Results to-date indicate good continuity with high-grade intersections in the Lower Eastern Trend, including holes MH-21-215 and 229. MH-21-229, designed to test the up-dip continuity of an interpreted high-grade ore shoot 20 m above MH-20-98. MH-20-98 intersected 4.16 g/t Au / 5.65 m including 8.21 g/t Au / 2.50 m at a downhole depth of 296 m. MH-21-229 intersected 18.41 g/t Au over 2.10 m (within 5.10 m of 7.64 g/t Au), showing good continuity in the area that has received limited drilling. MH-21-215 cut two zones of mineralization including a high-grade zone of 36.15 g/t Au over 0.35 m (within 2.35 m of 20.39 g/t Au), and a lower zone of 2.01 g/t Au over 2.70 m with considerable up-plunge potential. At least 5,000 m remain to be completed in this area this year.
About the Moosehead Gold Project
The 100%-owned Moosehead Gold Project is located along the Trans-Canada Highway in north-central Newfoundland, on the same structural trend as the advanced Valentine Lake Project (Marathon Gold), and adjacent to New Found Gold’s Queensway Project. Both the Moosehead and Queensway projects are targeting high-grade, turbidite-hosted, Fosterville-type gold mineralization. At least five zones of significant gold bearing mineralization have been identified to date at Moosehead with multiple high-priority targets, independent of the known zones, remaining to be tested. In Phases 1 to 5, the Company completed 23,378 m (106 holes). In Phase 6, the Company has completed 31,000 m in 170 holes (up to MH-21-280) of the 50,000 m drill program.
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 of Sokoman Minerals Corp.
COVID-19 Protocols
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
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. Samples, including duplicates, blanks and standards, were submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold analysis. 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 financial support of the Moosehead Project through the Junior Exploration Assistance Program.
Plan Map Moosehead
Moosehead Eastern Trend – 75 Zone, Inclined Long Section
For further information, please contact:
Sokoman Minerals
Timothy Froude, P.Geo., President & CEO
Phone: 709-765-1726
Email: tim@sokomanmineralscorp.com
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x251
Email: cathy@chfir.com
Website: www.sokomanmineralscorp.com
Twitter: @SokomanMinerals
Facebook: @SokomanMinerals
LinkedIn: @SokomanMinerals
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.”
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Companies’ expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Companies prospects, properties and business detailed elsewhere in the Companies’ disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Companies do not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Companies’ expectations or projections.
