Sokoman Expands 75 Zone and Releases Additional Results from Eastern Trend, Moosehead Gold Project, Central Newfoundland New Structure Intersected 300 m East of Eastern Trend; Barge-Based Drilling on North Pond Underway at Footwall Splay and Upper Eastern Trend
Sokoman Expands 75 Zone and Releases Additional Results from Eastern
Trend, Moosehead Gold Project, Central Newfoundland
New Structure Intersected 300 m East of Eastern Trend;
Barge-Based Drilling on North Pond Underway at Footwall Splay and Upper Eastern Trend
ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--September 28, 2021--
Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (the “Company” or “Sokoman”) is
pleased to announce that ongoing Phase 6 drilling at the 100%-owned Moosehead Property in
central Newfoundland has intersected additional high-grade gold mineralization at both the
Lower Eastern Trend and in the 75 Zone, located approximately 100 m along strike south of the
main Eastern Trend. (Note: see full table of results, plan map and long section for the 75 Zone
and the Eastern Trend further in this release. Not all previous intersections appear on section.)
Highlights of the recently-received rush assays (including total pulp metallics) include:
MH-21-234: 30.59 g/t Au over 2.75 m (within 4.80 m of 17.56 g/t Au) from the 75 Zone
MH-21-243: 32.72 g/t Au over 1.70 m (within 9.20 m of 6.70 g/t Au) from the 75 Zone
MH-21-215: 36.15 g/t Au over 0.35 m (within 2.35 m of 20.39 g/t Au) from the Eastern Trend
MH-21-229: 18.41 g/t Au over 2.10 m (within 5.10 m of 7.64 g/t Au) from the Eastern Trend
The Company is also pleased to announce that reconnaissance drilling testing for the source of
gold-bearing boulders, discovered earlier this year 300 m to the east of North Pond (see July 6,
2021 news release), has intersected a significant structure (named the 253 Zone), featuring
strong quartz veining and variable sulphide mineralization, mainly pyrite and arsenopyrite.
Assays are pending and additional drilling is planned.
Tim Froude, President and CEO of Sokoman, says: “We are extremely pleased with the
progress of Phase 6 with approximately 19,000 m remaining to be drilled this year. Today’s
results give strong support to the growth potential of the 75 Zone with the drilling suggesting that
the 75 Zone is linked to the larger Eastern Trend to the north. Our goal is to verify this
connection by drilling step-out holes to the north and also down-plunge to test the zone at depth.
"The barge-based component of Phase 6 has started, and the first hole has been completed
without any issues with drilling to continue until freeze-up, expected to be in late November /
early December. At least 5,000 m of drilling is planned to test the Upper Eastern Trend and
Footwall Splay targets where previous drilling has given some of our best holes to date including
earlier Phase 6 hole MH-21-115 that gave 4.6 m of 47 g/t Au (Footwall Splay) and 8 m of 68 g/t
Au (Upper Eastern Trend).
"We are also pleased to report that drilling which tested the area of the VG boulders, located
earlier this summer (July 6, 2021, News Release), has intersected a previously unknown
structure, parallel to the main Eastern Trend. The new structure (the 253 Zone), which carries
significant veining with associated sulphides, is potentially several kilometres in strike extent
based on geophysics, is open both to the northeast and southwest and will be subject to further
drilling this fall. Assays are pending and further details will be provided once additional holes
have been completed and assays have been received.
"We currently have four drills at Moosehead, including the recently arrived barge rig. Our
intention is to temporarily relocate one of the land-based rigs for a month to carry out a Phase 1
drill program (2,000 m) at our Grey River JV with Benton Resources Inc. to test high-priority
targets before winter sets in. This will take place shortly with the rig returning to Moosehead to
continue testing regional targets, including the newly discovered 253 Zone until year-end.”
75 Zone
Drilling at the 75 Zone continues on 10 m - 15 m step-outs from MH-19-75, originally drilled in
the fall of 2019 that had a 5.80 m intersection of 6.93 g/t Au from 87.50 m downhole, including
two visible gold-bearing veins that gave 30.42 g/t Au over 0.30 m, and 32.99 g/t Au over 0.80 m.
MH-21-234, collared 60 m northwest of MH-19-75, gave 30.59 g/t Au over 2.75 m (within 4.80
m of 17.56 g/t Au). MH-21-243, collared 80 m south-southwest of MH-19-75, gave 32.72 g/t Au
over 1.70 m (within 9.20 m of 6.70 g/t Au). These results give the 75 Zone a minimum 100 m
north-south strike extent and open to depth from surface. Drilling will continue in the area until
the end of the season.
Eastern Trend
One drill continues to infill / extend gold mineralization in the Lower Eastern Trend, and the
barge-based drilling has commenced in the Upper Eastern Trend / Footwall Splay targets.
Results from the Eastern Trend and the 75 Zone, up to September 28, 2021, are shown in the
table below.
Results to-date indicate good continuity with high-grade intersections in the Lower Eastern
Trend, including holes MH-21-215 and 229. MH-21-229, designed to test the up-dip continuity
of an interpreted high-grade ore shoot 20 m above MH-20-98. MH-20-98 intersected 4.16 g/t Au
/ 5.65 m including 8.21 g/t Au / 2.50 m at a downhole depth of 296 m. MH-21-229 intersected
18.41 g/t Au over 2.10 m (within 5.10 m of 7.64 g/t Au), showing good continuity in the area
that has received limited drilling. MH-21-215 cut two zones of mineralization including a high-
grade zone of 36.15 g/t Au over 0.35 m (within 2.35 m of 20.39 g/t Au), and a lower zone of
2.01 g/t Au over 2.70 m with considerable up-plunge potential. At least 5,000 m remain to be
completed in this area this year.
DDH # Length m Az. Dip Target
From (m) To (m) Length m* Au (g/t) G x M Visible Gold
MH-21-243 211 287 39 75 Zone 71.90 81.10 9.20 6.70 61.64 Y
incl 74.75 78.00 3.25 18.54 60.27 Y
incl 76.30 78.00 1.70 32.72 55.62 Y
MH-21-241 55 287 38 75 Zone 32.45 35.40 2.95 6.46 19.05 Y
incl. 33.95 35.40 1.45 12.95 18.78 Y
MH-21-235 97 287 48 75 Zone 47.75 51.45 3.70 3.59 13.28 Y
incl 48.75 50.45 1.70 7.81 13.28 Y
MH-21-234 76 286 38 75 Zone 44.75 49.55 4.80 17.56 84.29 Y
incl 44.75 47.50 2.75 30.59 84.12 Y
MH-21-233 85 285 46 75 Zone 59.60 64.00 4.40 5.47 24.07 Y
incl 60.70 63.50 2.80 8.40 23.52 Y
MH-21-231 88 285 39 75 zone 64.35 67.40 3.05 1.81 5.52 N
MH-21-229 388 283 39Eastern Trend 285.90 291.00 5.10 7.64 38.96 Y
incl 286.90 289.00 2.10 18.41 38.66 Y
MH-21-227 229 283 40 75 Zone 48.85 51.95 3.10 6.43 19.93 Y
MH-21-220 97 284 57 75 Zone 67.40 69.40 2.00 1.54 3.08 Y
MH-21-215 259 285 42Eastern Trend 135.80 138.15 2.35 20.39 47.91 Y
incl 135.80 136.15 0.35 136.72 47.85 Y
and 210.90 213.60 2.70 2.01 5.45 N
MH-21-214 112 284 52 75 Zone 61.35 64.60 3.25 7.79 25.32 Y
62.10 63.35 1.25 20.22 25.27 Y
MH-21-213 115 283 45 75 Zone 75.80 78.20 2.40 9.42 22.61 Y
incl 76.60 77.70 1.10 20.02 22.02 Y
MH-21-212 253 281 46 75 Zone 213.30 222.55 9.25 6.07 56.15 Y
incl 214.30 216.50 2.20 21.78 42.92 Y
MH-21-211 100 283 42 75 Zone 70.55 77.65 7.10 1.14 8.08 N
incl 74.90 77.65 2.75 2.24 6.17 N
MH-21-210 106 283 45 75 Zone 85.60 90.50 4.90 7.20 35.28 Y
incl 87.70 90.50 2.80 12.31 34.47 Y
MH-21-209 238 284 51Eastern Trend 221.10 225.55 4.45 2.94 13.08 Y
incl 223.55 225.55 2.00 5.97 11.95 Y
MH-21-208 106 283 43 75 Zone 80.00 84.00 4.00 3.53 14.12 Y
incl 81.80 83.00 1.20 9.57 11.48 Y
MH-21-206 391 283 51Eastern Trend 226.4 229.7 3.3 0.75 2.50 N
and 237.2 241 3.8 0.98 3.72 Y
incl 238.6 239.2 0.6 4.37 2.62 Y
* Core lengths - believed to be 70-90% of reported lengths.
About the Moosehead Gold Project
The 100%-owned Moosehead Gold Project is located along the Trans-Canada Highway in north-
central Newfoundland, on the same structural trend as the advanced Valentine Lake Project
(Marathon Gold), and adjacent to New Found Gold’s Queensway Project. Both the Moosehead
and Queensway projects are targeting high-grade, turbidite-hosted, Fosterville-type gold
mineralization. At least five zones of significant gold bearing mineralization have been identified
to date at Moosehead with multiple high-priority targets, independent of the known zones,
remaining to be tested. In Phases 1 to 5, the Company completed 23,378 m (106 holes). In Phase
6, the Company has completed 31,000 m in 170 holes (up to MH-21-280) of the 50,000 m drill
program.
QP
This news release has been reviewed and approved by Timothy Froude, P.Geo., a "Qualified
Person" under National Instrument 43-101 and President and CEO of Sokoman Minerals Corp.
COVID-19 Protocols
To ensure a working environment that protects the health and safety of the staff and contractors,
Sokoman is operating under federally and provincially mandated and recommended guidelines
during the current COVID-19 alert level.
Analytical Techniques / QA/QC
All core samples submitted for assay were saw cut by Sokoman personnel with one-half
submitted for assay and one-half retained for reference. Samples were delivered in sealed bags
directly to the lab by Sokoman personnel. Samples, including duplicates, blanks and standards,
were submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold analysis.
Eastern Analytical Ltd. is an accredited assay lab that conforms to the requirements of ISO/IEC
17025. Samples with possible visible gold were submitted for total pulp metallics and
gravimetric finish. All other samples were analyzed by standard fire assay methods. Total pulp
metallic analysis includes: the whole sample is crushed to -10 mesh; then pulverized to 95% -150
mesh. The total sample is weighed and screened to 150 mesh; the +150 mesh fraction is fire
assayed for Au, and a 30 g subsample of the -150 mesh fraction is fire assayed for Au; with a
calculated weighted average of total Au in the sample reported as well. One blank and one
industry approved standard for every twenty samples submitted, is included in the sample
stream. Random duplicates of selected samples are analyzed in addition to the in-house standard
and duplicate policies of Eastern Analytical Ltd. All reported assays are uncut.
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is a discovery-oriented company with projects in the province of
Newfoundland and Labrador, Canada. The Company's primary focus is its portfolio of gold
projects; flagship, advanced-stage Moosehead, Crippleback Lake (optioned to Trans Canada
Gold Corp.) and East Alder (optioned to Canterra Minerals Corporation) along the Central
Newfoundland Gold Belt, and the district-scale Fleur de Lys project in northwestern
Newfoundland, that is targeting Dalradian-type orogenic gold mineralization similar to the
Curraghinalt and Cavanacaw deposits in Northern Ireland. The Company also recently entered
into a strategic alliance with Benton Resources Inc. through three, large-scale joint-venture
properties including Grey River, Golden Hope and Kepenkeck in Newfoundland.
Sokoman now controls, independently and through the Benton alliance, over 150,000 hectares
(>6,000 claims – 1500 sq. km), making it one of the largest landholders in Newfoundland, in
Canada’s newest and rapidly-emerging gold districts. The Company also retains an interest in an
early-stage antimony/gold project (Startrek) in Newfoundland, optioned to White Metal
Resources Inc., and in Labrador, the Company has a 100% interest in the Iron Horse (Fe) project
which has Direct Shipping Ore (DSO) potential.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of
mineralization hosted on the Company's property.
The Company would like to thank the Government of Newfoundland and Labrador for financial
support of the Moosehead Project through the Junior Exploration Assistance Program.
To learn more, please contact:
Timothy Froude, P.Geo., President &
CEO
Cathy Hume, Director, Investor
Relations
Website:
www.sokomanmineralscorp.com
709-765-1726 416-868-1079 x 251 Twitter: @SokomanMinerals
[email protected] cath [email protected] Facebook: @SokomanMinerals
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Investors are cautioned that trading in the securities of the Corporation should be considered
highly speculative. Except for historical information contained herein, this news release
contains forward- looking statements that involve risks and uncertainties. Actual results may
differ materially. Sokoman Minerals Corp. will not update these forward-looking statements to
reflect events or circumstances after the date hereof. More detailed information about
potential factors that could affect financial results is included in the documents filed from
time to time with the Canadian securities regulatory authorities by Sokoman Minerals Corp.
Contacts
Timothy Froude, P.Geo., President & CEO
709-765-1726
or
Cathy Hume, Director, Investor Relations
416-868-1079 x 251