Sokoman Iron Provides Moosehead GOLD Project Update: Revised 3-D Modelling Underway
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 diam ond 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 Mo osehead 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.
Hole From (m) To (m) Length (m) Au ppb Au g/t
MH-01-13 33.92 55.11 21.19 9277 9.28
incl 33.92 39.50 5.58 27345 27.34
incl 38.00 39.50 1.50 96715 96.71
MH-01-19 6.18 11.37 5.19 6474 6.47
incl 8.75 11.37 2.62 11734 11.73
MH-01-23 14.18 15.71 1.53 170310 170.31
incl 15.11 15.71 0.60 413560 413.56
MH-02-09 31.35 32.49 1.14 27664 27.66
MH-02-16 13.72 15.18 1.46 28495 28.49
incl 14.44 14.91 0.47 87235 87.23
MH-02-18 49.73 52.68 2.95 4507 4.50
incl 51.48 51.68 0.20 63515 63.51
MH-02-34 70.87 73.14 3.17 6444 6.44
incl 72.09 73.14 1.05 18314 18.31
MH-02-38 83.82 91.22 7.40 30934 30.93
incl 86.20 88.22 2.02 111964 111.96
MH-03-15 255.36 291.53 3.80 33041 33.04
incl 257.26 257.71 0.45 277960 277.96
MH-96-05 41.80 46.68 4.88 5713 5.71
incl 41.80 43.90 2.10 12498 12.49
*Note: Historical drill results reported in th is 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 met res
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 wat er 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 complet ed 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 certi ficate 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 Fro ude, 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 Compan y’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: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) acc epts 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 cont ains 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 informat ion 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.