Sokoman Reports Additional Strong Results From The Barge Drill Program Moosehead Project, Central Newfoundland
Drilling ongoing with three rigs focused on expansion of the Eastern Trend to depth
St. John’s, NL, April 13, 2022 – Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) is pleased to report that the Moosehead Project continues to deliver high-grade assay results, achieving a goal of expanding all mineralized zones along strike and to depth, while also connecting them.
Assay highlights include:
MH-21-323 – 4.05 m of 14.55 g/t Au incl. 1.15 m of 50.42 g/t Au from 31.70 m
MH-21-335 – 3.10 m of 15.80 g/t Au incl. 1.60 m of 29.93 g/t Au from 92.90 m
MH-21-338 – 5.80 m of 7.05 g/t Au incl. 2.40 m of 15.43 g/t Au from 98.15 m
Moosehead Plan Map with Eastern Trend Fault
MH-21-335 and 338 are barge holes completed in the Main Eastern Trend. They increase confidence in the interpreted plunge of the high-grade gold shoots as we move north in the current drill program. MH-22-323 was completed in the 75 Zone that continues to demonstrate high-grade near-surface gold potential. The Phase 6 program is ongoing with 298 holes completed for a total of 51,000 m. The remaining holes in the expanded table below include holes completed last fall from numerous locations within the overall mineralized footprint (see table for target definition).
Tim Froude, President and CEO of Sokoman, says: “The 75 Zone and the Main Eastern Trend continue to deliver strong results and the gap between both zones has narrowed to 65 m. The modelling is clearly supporting our interpretation that the 75 Zone, or portions thereof, is a splay off the Main Eastern Trend with a similar relationship that the Footwall Splay has with the Main Eastern Trend immediately to the north. Recent drill holes MH-21-346 returned 9.60 m of 7.33 g/t Au, and MH-21-345 returned 4.75 m of 20.75 g/t Au were completed where the Footwall Splay and Main Eastern Trend merge (January 20, 2022 news release). Drilling until spring break-up will focus on the following areas: a section or fan of six to eight holes testing a deeper portion of the Main Eastern Trend approximately 125 m north of and approximately 150 m down the interpreted plunge of holes MH-21-345 and 346. There are only two widely-spaced holes in this area representing the northernmost holes at this elevation (250 m vertically) in the Eastern Trend. A second drill will test below the current known extent of the Main Eastern Trend approximately 125 m downdip of holes MH-21-345 and 346 at a vertical depth of approximately 250 m where the Eastern Trend is completely open for expansion.”
The third drill has recently completed a fence of five holes targeting a combined magnetic and C horizon till anomaly (54 gold grains) 1 km southwest of the South Pond Zone. The area is inferred to sit along the main Valentine Lake shear zone which hosts Marathon Gold’s Valentine Lake gold project, that is about to commence mine construction. All five drillholes, awaiting assays, collared in Laurenceton Formation mafic volcanics consisting of flows and related breccias. The easternmost hole, MH-22-395, intersected strongly-sheared flows at 262.3 m. This fault can be projected to the northeast to the 253 Zone and provides a regional framework for the property. MH-22-379 intersected a fine-grained mafic flow or mafic dyke with 1%-2% locally up to 5% combined pyrite and arsenopyrite from 232.0 m – 235.0 m. At Moosehead, similar occurrences of pyrite and arsenopyrite at mafic dyke margins carry gold. Also occurring within the interval is a black chlorite zone with abundant buckshot pyrite. This association is frequently observed proximal to the auriferous veins at Moosehead.
Additional drilling will take place in the 253 Zone area where a subparallel structure carrying quartz veining and disseminated pyrite + arsenopyrite, first intersected in MH-21-253, returned assays of 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. The rig will be flown to the east side of the structure to better facilitate targeting. The 253 Structure is interpreted to be several kilometres in length and has had minimal drilling.
Expanded Table of Results – April 2022
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
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 north-central 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. The Golden Hope project hosts a recently discovered zone of lithium-bearing pegmatite dikes that have returned significant grades of Li2O from surface sampling and diamond drilling including 8.4 m grading 0.95% Li2O from GH-22-01. The Grey River project was recently tested with five recon drill holes all of which returned gold values highlighted by 10.58 g/t Au over 1.80 m including 50.13 g/t Au over 0.35 m from GR-21-01.
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.
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.
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, Director, Investor Relations
Phone: 416-868-1079 x251
Email: cathy@chfir.com
Website: www.sokomanmineralscorp.com
Twitter: @SokomanMinerals
Facebook: @SokomanMinerals
LinkedIn: @SokomanMinerals
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.
