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.
Sokoman Iron Announces Phase 2 Drilling At Moosehead, Central Nl
SOKOMAN IRON ANNOUNCES START OF FIELD PREPARATIONS FOR PHASE 2 DRILLING AT MOOSEHEAD, CENTRAL NEWFOUNDLAND
St. John’s, NL, September 19, 2018 – Sokoman Iron Corp. (“Sokoman” or “the Company”) (TSX-V: SIC) is pleased to announce that it has awarded the Moosehead Project Phase 2 diamond drilling contract to Springdale Forest Resources (Diamond Drilling Division) of Springdale, NL, and that site preparations will begin 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 is expected to commence drilling on or about October 1, 2018 and 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.
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.
Chf Spotlight – Canada’s Newest Emerging Gold Play
High-grade results attract the market’s attention in this selective season for the junior mining sector. A lot of the speculative money is heading into other start-up industries but great gold results of high grades or big widths are still attracting some of the big name investors and speculators too. The recent high-grade assay re- sults reported by Sokoman Iron Corp. (TSX.V: SIC) from their Moosehead project in Newfoundland brought them this market interest.
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 Iron Announces $3 Million Financing Led By Eric Sprott
SOKOMAN IRON ANNOUNCES $3 MILLION FINANCING LED BY ERIC SPROTT
Puslinch, ON, July 30, 2018 – Sokoman Iron Corp. (‘Sokoman’ or ‘the Company’) (TSX-V: SIC) is pleased to announce that it intends to complete a non-brokered private placement consisting of 20,000,000 Units at a price of $0.15 per Unit for gross proceeds of up to $3,000,000, subject to approval of the TSX Venture Exchange. Each Unit will consist of one common share (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant is exercisable into one Common Share at a price of $0.25 per share for a period of two years from closing. There are three placees, Eric Sprott will subscribe for 13.35 million Units, Palisade Global will subscribe for 4.1 million Units, and Venture Ad Network will subscribe for 2.6 million Units. There are no finders fees associated with the transaction.
Timothy Froude, P. Geo., President and CEO, states: “We are very pleased to welcome Eric Sprott and Palisade Global into our family of shareholders. Eric Sprott is a renowned and respected leader in the investment community and one of the world’s premiere precious metals investors and is currently Chairman of Kirkland Lake Gold. His participation in our financing speaks to the potential of our assets, in particular the high-grade Moosehead Gold Project. Palisade Global is a leading entity in finance and development of mining interests around the world and will help advise Sokoman in delivering our story to a global audience.”
The proceeds of the financing will be used to advance the Company’s flagship Moosehead Gold Project where multiple targets remain untested as well as follow up drilling following a successful Phase I program. A portion of the funds will be directed to the Company’s other gold properties in Newfoundland, and for general working capital purposes.
Qualified Person
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 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 Moosehead Gold project in central Newfoundland where recent drilling in the Eastern Trend area has returned high-grade gold results from MH-18-01 highlighted by 11.90 m @ 44.96 g/t Au including 5.65 m @ 93.56 g/t Au released on July 24, 2018. (Note: reported intersection is a core length, true thickness estimated to be 80% of core length). The Company’s other assets include a portfolio of early stage gold projects in Central Newfoundland and a 100% interest in the Iron Horse (Fe/V/REE) project in Western Labrador.
Contact:
Timothy Froude, P. Geo., 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.
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 Drills New Visible Gold
SOKOMAN IRON DRILLS NEW VISIBLE GOLD – BEARING VEIN ZONE AT MOOSEHEAD GOLD PROJECT, CENTRAL NEWFOUNDLAND
Puslinch, ON, June 28, 2018 – Sokoman Iron Corp. (‘Sokoman’ or ‘the Company’) (TSX-V: SIC) is pleased to announce that the first hole completed in its Phase I, program, MH-18-01, encountered a 1.35 metre (core length – see Note 1) quartz vein that contained a minimum of 50 specks of visible gold ranging from less than a millimetre to 2 millimetres in diameter. This new vein was encountered at a down hole depth of 115.25 m (vertical depth of 80 metres) approximately 80 metres up-hole from the intended target of the drill hole. The hole continued to its target depth and was successful in cutting a 0.55 metre (core length) vein with 6 specks of visible gold approximately 15 metres up-dip from the planned target depth. The location and apparent orientation of the new vein suggests that it represents a new high-grade target on the property. Saw cut samples have been taken from the gold bearing zones and have been sent for total pulp metallic analysis and fire assaying at Eastern Analytical Limited in Springdale, Newfoundland (see Note 2).
Drill hole MH-18-01 was drilled to test the up-dip potential (50 metres up-dip) of a historical intercept in 2003 by Altius Resources Inc. that returned 278 g/t Au over 0.45 metres (see Note 3) at a depth of 257 metres downhole (200 metres vertically) in MH-03-15. The Altius intercept is the deepest intersection on the property. Maps, photos and other information will be posted on the website in the coming days as they get produced. Prior to completing any additional drilling on this discovery, the Company intends to await assays and complete a downhole televiewer survey in order to plan future drilling on the new zone. The current program will consist of approximately 2000 meters in 12 to 15 holes and is expected to take 5-6 weeks to complete and will now focus on the shallow (less than 50 metre depth) mineralization in the Western Trend (May 25, 2018 News Release).
The Company plans 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, will aid in follow up drill hole placement, azimuth and dip. The survey is expected to take place in early July once the Priority 1 holes have been completed. The Company intends to take a one week break midway through the program to allow for return of assays from Priority 1 holes and completion of the televiewer survey to help plan the remainder of the program.
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 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 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 1: True thickness not known at this time but is believed to be from 50 to 80% of reported core lengths.
Note 2: 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 -10mesh and pulverized to 95% -150mesh. The total sample is then weighed and screened 150mesh. The +150mesh fraction is fire assayed for Au, and a 30g subsample of the -150mesh fraction is fire assayed for Au. A calculated weighted average of total Au in the sample is reported as well. Sokoman will implement a QA/QC policy that includes industry accepted protocols of routinely inserting industry accepted standards, blanks and duplicates into every batch of 20 samples.
Note 3: 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
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 Receives Exploration Approval For Phase I Drilling
SOKOMAN IRON RECEIVES EXPLORATION APPROVAL FOR PHASE I DRILLING AT MOOSEHEAD GOLD PROJECT, CENTRAL NEWFOUNDLAND
Puslinch, ON, May 30, 2018 – Sokoman Iron Corp. (‘Sokoman‘ or ’the Company‘) (TSX-V: SIC) is pleased to announce it has received Exploration Approval from the provincial Department of Natural Resources, and can now proceed with the proposed 2,000-metre Phase I diamond drill program at the Moosehead Gold project in central Newfoundland. A crew has been mobilized and will begin site preparations immediately with first core expected in about 2 weeks.
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), as well as 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 Phase I program will follow the recommendations proposed by Minorex Consulting Limited (‘Minorex’) of Aldergrove, B.C. who recently provided an updated and revised model of the Moosehead mineralization. A total of 20 holes has been proposed of which 11 holes (1,310 m) are considered first priority. The remaining 690 metres will be distributed among the second priority and reconnaissance targets. The distribution of the first priority holes was also designed with consideration for any future resource estimates that may be completed at Moosehead.
Timothy Froude, P. Geo., Interim CEO states: “We are anxious to get the program started at Moosehead, particularly given the good grades returned historically. We are quite optimistic that the forthcoming program will bring significant results confirming the potential of Moosehead.”
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 drilling 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 Receives Revised Moosehead Modeling
SOKOMAN IRON RECEIVES REVISED MOOSEHEAD MODELING:
MULTIPLE TARGETS PROPOSED
Puslinch, ON, May 25, 2018 – Sokoman Iron Corp. (‘Sokoman‘ or ’the Company‘) (TSX-V: SIC) is pleased to announce it has received from Minorex Consulting Limited (‘Minorex’) of Aldergrove, B.C. an updated model of the gold-bearing mineralization within the Moosehead Project All historic drilling (110 holes) has now been modelled, and this work has identified a number of targets that the company will now test with a Phase I, 2,000-metre diamond drilling program. A total of 20 holes have been proposed of which 11 holes (1,310 m) are considered First Priority. The remaining 690 meters will be distributed among the Second Priority and reconnaissance targets. The drilling program will focus on three main target areas at Moosehead, specifically the Western and Eastern Trends (see attached plan map), and the reconnaissance targets.
The program will start with verification and expansion of the near surface (less than 50 m deep) high grade mineralization in the Western Trend, intersected in multiple historical holes including MH-01-13, MH-01-23, etc. as tabled below*. The modeling also took into account the results of the 2016 structural study completed at Moosehead which suggested that many of the previous drilling programs were not oriented to optimally test the mineralization. The proposed holes in the Phase I program (except for the deep target), will be oriented to test the findings and recommendations of the structural study. The distribution of the First Priority holes was also designed with consideration for any future resource estimates that may be completed at Moosehead.
The second aspect to be tested will be the depth potential of the mineralization beneath the near surface mineralization (between 50 and 150 m depth), including the lone “deep” intercept in MH-03-15 (Eastern Trend) returning 2.35 m grading 53.36 g/t Au including 0.45 m grading 277.96 g/t Au at a down hole depth of 255.36 m.
The company also plans to test, with two to three reconnaissance holes, areas of 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: soil and rock sample values stated are historical in nature and not verified by Sokoman Iron.)
Timothy Froude, P. Geo., Interim CEO states: “We are extremely pleased with the end results of the modelling completed by Minorex. The work that Minorex has done clearly demonstrates potential for success both in the near surface and deeper target areas. The Phase I program will be the first diamond drilling to be initiated at Moosehead since 2004. We are expecting permits within the coming weeks with a view to commencing drilling in the latter part of May.”
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 gold 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 Sokoman has not yet independently verified the data. True width of selected intercepts may vary between 30-100% of the reported interval.
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 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 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.
The gold mineralization was modelled by Douglas Blanchflower, P. Geo., a consulting geologist with Minorex. Mr. Blanchflower has forty-seven years of applied mineral exploration experience including the past thirty-six years with Minorex specializing in the exploration and development of bulk and lode gold-silver, volcanogenic massive sulphide and porphyry-type mineral deposits.
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 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 Completes Ph.Ii Drilling Clarks Brook Gold Property
SOKOMAN IRON COMPLETES PHASE II DRILLING ON CLARKS BROOK GOLD PROPERTY, CENTRAL NEWFOUNDLAND
Puslinch, Ontario – (February 19, 2018) – Sokoman Iron Corp (Sokoman) (TSX-V: SIC) is pleased to announce that the Phase II drilling program at Clarks Brook has been completed and that core logging and sampling has commenced. The three hole, 594 meter program, was designed to test for additional zones of mineralization along strike and parallel to the mineralization intersected in the first program (completed in October 2017), and to determine whether additional funds should be directed towards this project.
The attached plan highlights the two areas tested with the Phase II drilling. Of particular interest is the magnetic target outlined to the northeast of the Phase I drilling. Phase I drilling suggests that the best mineralization, intersected in holes CB-17-1 and 2, is associated with a strong magnetic low signature (blue colour on the attached plan). This magnetic signature trends northeast of the known mineralization and appears to trend off of the surveyed area, suggesting a minimum distance of 400 meters. The northern property boundary is over 1 kilometer to the northeast, however, no detailed magnetics have been completed over most of this distance and the company is considering, pending results of the Phase II drilling, extending the detailed grid to cover this area with magnetics and possibly Induced Polarization (IP) surveys.
At this point core logging and sampling of the new holes has just commenced, however, a preliminary review of the three holes indicates that silicified and quartz veined intervals with disseminated sulphides has been intersected in all holes, but lengths and significance of these intervals won’t be known until all logging and sampling has been completed. This work is expected to take two weeks and an additional 6 to 8 weeks before assays are received.
In the meantime, the company has been informed that the NI 43-101Form F1 technical report on the Moosehead property has been submitted to the TSX Venture Exchange by the Independent QP and that the Exchange has begun its review of the document and initial comments are expected at any time.
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. Phase I drilling completed in October 2017 returned assays of 3.37 g/t Au over 3.00 m (from 127.75 – 130.75 m) including 26.9 g/t Au over 0.25 m (from 127.75 – 128.00 m). 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. Drill core intervals from the 2017 program are believed to be
Timothy Froude, P. Geo., Interim CEO states; “The recently completed Phase II program is critical to the future of our involvement with this project. Although only a limited program, the holes are all strategic, and will be instrumental in helping shape our plans moving forward. The preliminary review of the core suggests that all holes encountered variably altered and mineralized sediments, however, we must wait until final results have been received before making a decision on further work at Clarks Brook”.
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 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. Provides Exploration Outlook
Sokoman Iron Corp. Provides Exploration Outlook
January 18, 2018 – Sokoman Iron Corp., TSX-V SIC (the “Company”) is pleased to provide shareholders with an exploration outlook for the first half of 2018 on its portfolio of gold projects in Central Newfoundland.
Clarks Brook Project
The Clarks Brook Project will be the subject of a Phase 2 reconnaissance diamond drilling program, expected to start in 2 to 3 weeks. The program will focus on the coincidental magnetic and IP targets that host the known mineralization on the property, and where Phase 1 drilling in October 2017, confirmed the presence of locally robust gold mineralization in the first ever holes drilled on the property (SIC NR – December 22, 2017). Selected assays from hole CB-17-2 are as follows; 3.37 g/t Au/3.00 m (127.75m – 130.75m), including 4.63 g/t Au/1.65 m (127.75m – 129.40m), and 26.9 g/t Au/0.25 m (127.75m – 128.00m). The Phase 2 program will consist of approximately 500 meters of drilling in three or four holes and will test the strike extent of the zone, as well as possible parallel structures hosting mineralization. Additional holes and meterage will be added if results warrant.
Moosehead Project
The Company is currently in the process of generating a NI 43-101 Technical Report on the Moosehead property as a condition for approval of the proposed option agreement between Sokoman Iron Corp. and Altius Resources Inc., whereby Sokoman intends to earn a 100% interest, (subject to underlying royalty agreements) in the Moosehead property (SIC NR – November 9, 2017). The report was requested by the TSX Venture Exchange, and should be complete within 30 days. After approval has been granted, Sokoman intends to have all data compiled and modeled by the end of Q1 2018 to aid in drill planning. Pending receipt of all work and related permits, which the company will apply for once approval has been granted, the company expects Phase 1 drilling to commence in late spring 2018. The 2018 program will test a new (2016) structural interpretation of the mineralization which concluded that a most previous drilling may not have been oriented to optimally test the mineralization. In addition, the company plans to investigate recently defined soil anomalies outlined by Altius Resources in 2015 and which lie north and east of the known extent of mineralization.
The Moosehead project, is host to locally significant gold mineralization including diamond drill intercepts* highlighted by; MH-01-13 which returned 11.05 g/t gold over 17.11m from 38.00m downhole, and MH-02-38 which returned 14.07 g/t gold over 16.84m from 74.38m downhole (Altius Minerals Corp. website 2018). The mineralization at Moosehead is believed to be open in all directions and to depth, with average hole length of about 100 meters. *Note: Historical drill results reported in this release from Moosehead 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.
Central Newfoundland Gold Project (CNGP)
The CNGP is located in central Newfoundland and consists of three separate projects; East Alder, Crippleback Lake and Princess Lake, all of which straddle the regional structure that hosts many of the most important gold deposits and prospects on the Island of Newfoundland. Projects including the Valentine Lake property (Marathon Gold) which has NI 43-101 mineral resources of 1,846,500 ounces gold Measured and Indicated at 1.88 g/t gold, and 1,011,700 ounces gold Inferred at 1.66 g/t gold (November 30, 2017 Marathon Gold Inc. NR); and the recently discovered Wilding Lake Project, which has reported channel sample assays of 49.6 g/t Au over 4.6 meters and diamond drill intercepts of 10.01 g/t Au over 5.35 metres (December 13, 2017 Antler Gold NR) are believed to be localized on the same regional structure. The Antler discoveries are as close as 1200 meters from our boundary and on trend. We have defined at least 14 high priority soil/till and rock geochemical targets at East Alder, and another six on Crippleback Lake, all of which will be investigated this year. The author cautions that the style of mineralization, and gold values reported from the Valentine Lake or the Wilding Lake projects, are not necessarily indicative of the mineralization on Sokoman Iron’s properties.
Timothy Froude, P. Geo., Interim CEO states, “We are very anxious to get our 2018 programs underway, beginning with Clarks Brook, where the amount of float and the geophysics suggests we may not yet know the full extent of the gold zone at Clarks. The Moosehead project will gather momentum once we obtain TSX Venture Exchange approval, at which time we will move forward with one of the highest potential properties in central Newfoundland. At the CNGP, we have 20 high priority trenching targets defined and we are optimistic some will graduate to the drilling stage. In short, 2018 is shaping up to be an exciting year for Sokoman shareholders as we move forward our portfolio of high quality projects. We are also grateful for the financial assistance we will receive from the Province of Newfoundland on our 2017 JEA qualifying projects, the CNGP, and Clarks Brook. (Clarks Brook was pre-approved for JEA by Metals Creek in 2017 prior to acquisition by Sokoman).”
Sokoman Iron Corp. is a discovery-focused company with projects in Newfoundland & Labrador, Canada. The Company’s primary focus are 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. The company will seek new opportunities that may arise. 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 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.
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