Sokoman Minerals Cuts High-Grade Gold in Step-Out Drilling at Moosehead Project, Central Newfoundland: 4.2 m of 64 g/t Au, including 1.2 m of 223.63 g/t Au at South Pond
Sokoman Minerals Cuts High-Grade Gold in Step-Out Drilling at
Moosehead Project, Central Newfoundland:
4.2 m of 64 g/t Au, including 1.2 m of 223.63 g/t Au at South Pond
St. John’s, NL, February 23, 2021 – Sokoman Minerals Corp. (TSX-V: SIC) (OTCQB: SICNF) (the
“Company” or “Sokoman”) is pleased to announce that ongoing Phase 6 drilling program at the
100%-owned Moosehead Property has intersected near-surface (30 metres vertically) , high -grade
gold mineralization in step-out drilling at South Pond, where recent high-grade intersections including
5.0 m of 26.87 g/t Au from MH-20-123 were reported (see NR dated December 17, 2020). Diamond
drill hole MH-21-141, drilled as a step-out 15 m to the north of MH-20-123, returned the following
priority rush, total pulp, metallics assay results:
MH-21-141 – 4.20 m of 64 g/t Au, including 1.20 m at 223.63 g/t Au from 47.90 m downhole*
*reported lengths are core lengths and are believed to be 90% of true thickness
Tim Froude, President and CEO of Sokoman, s ays: “We are extremely pleased with the drill
results from the South Pond target as it continues to develop into yet another potentially significant
story at Moosehead. We are currently cutting additional pads to facilitate detailed drilling of this zone
where Rig 1 will be focused for the next few weeks. We know that mineralization elsewhere on the
property, and in particular our higher-grade zones, can have variable orientations within and adjacent
to our main structural corridors, requiring detailed drilling to establish direction and maximize
success. In the meantime, newly arrived Rig 2 will focus on high-priority targets outside of the known
mineralized trends, and we consider the chances of additional discoveries to be quite high . Drilling
operations will continue until the spring break-up. We have now drilled 37 holes for a total of 6,872
m in Phase 6 of the total planned 20,000 m.”
Assays were also received for drill hole MH -21-140, collared approximately 15 m to the south of
MH-20-123, which returned a 6.70 m interval averaging 3.24 g/t Au, including 1.20 m at 1 6.96 g/t
Au from 42 m downhole . A drill plan and a n updated table of results from the Phase 6 drilling at
South Pond are appended to this release.
South Pond Zone
Gold mineralization was discovered in quartz float along the northern shoreline of South Pond by
earlier workers and was further evaluated by Sokoman last summer. This evaluation resulted in the
discovery of t wo types of mineralization, a high -grade cluster that averaged 36 .59 g/t Au, and a
previously known lower-grade cluster that averaged 1.91 g/t Au ( see NR dated July 30, 2020 ). In
2020, drilling beneath the high -grade boulders returned a quartz vein zone at 47 m that averaged
26.87 g/t Au over 5 m, including 60.59 g/t Au over 2.15 m, the likely in-situ source of the high-grade
boulders.
Based on the drilling to date, the mineralization occurs in a 3-7m wide zone of shearing and quartz
veining, with 2 -5% disseminated sulphides (pyrite+/ -sphalerite+/-boulangerite). The high -grade
sections are typically banded and/or stylolitic, locally vuggy, quartz veins, up to one metre thick, with
multiple 1 to 5 mm blebs of visible gold in a zone of moderately sheared siltstones. Modeling suggests
that the South Pond zone is the southern extension of the Western Trend, located 240 m to the north.
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.
The gold mineralization in the Eastern Trend has been defined over a 500 m strike length and a 200
m vertical height and remains open , with high-grade drill results including 5.10 m of 124.20 g/t Au
(MH-18-39) and 4.8 m of 33.59 g/t A, including 0.90 m of 124.15 g/t Au (MH-19-62). The Company
is currently in the midst of a 20,000m drill program utilizing two rigs.
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 Level 5 (full lockdown) 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 Minerals personnel. Samples, including duplicates, blanks and standards, were
submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold analysis. Eastern
Analytical is an accredited assay lab that conforms to 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
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.
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is a discovery -oriented company with projects in Newfoundland &
Labrador, Canada. The Company's primary focus is its portfolio of gold projects (Moosehead,
Crippleback Lake and East Alder) in Central Newfoundland on the structural corridor hosting
Marathon Gold's Valentine Lake project. Valentine Lake is reported to host estimated Proven and
Probable Mineral Reserves of 1.87 Moz (41.05 Mt at 1.41 g/t Au), and Total Measured and Indicated
Mineral Resources (inclusive of the Mineral Reserves) of 3.09 Moz (54.9 Mt at 1.75 g/t Au).
Additional Inferred Mineral Resources are 0.96 Moz (16.77 Mt at 1.78 g/t Au). Reserves and resource
totals for the Valentine Lake Project were taken from "N.I. 43-101 TECHNICAL REPORT & PRE-
FEASIBILITY STUDY ON THE VALENTINE GOLD PROJECT" prepared by Ausenco
Engineering Canada on April 21, 2020.
The Company also retains an interest in an early -stage antimony/gold project in Newfoundland
optioned to White Metal Resources Inc. 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 f or financial
support of the project through the Junior Exploration Assistance Program. Sokoman has been
approved for funding for a portion of 2020 exploration activities.
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 x251 Twitter: @SokomanMinerals
[email protected] [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 o r 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.
Phase 6 South Pond Table of Results
DDH # Length m Az. Dip Target From (m) To (m) Length m* Au (g/t) G x M Visible Gold
MH-20-123 136.0 255 -45 South Pond 47.00 52.00 5.00 26.87 134.37 Y
partial assays incl. 48.35 50.50 2.15 60.59 130.26 Y
MH-20-124 76.0 255 -45 South Pond 34.40 35.60 1.20 0.94 1.11
incl 34.09 35.05 0.15 3.20 0.48
MH-20-125 76.0 250 -45 South Pond 20.70 21.50 0.80 1.06 0.85
MH-21-140 75.0 255 -45 South Pond 42.00 48.70 6.70 3.24 21.73 Y
partial assays incl 43.60 45.30 1.20 16.96 20.35 Y
MH-21-141 114.0 255 -46 South Pond 47.90 52.10 4.20 64.00 268.80 Y
partial assays incl 50.90 52.10 1.20 223.63 268.36 Y
MH-21-142 173.0 246 -45 South Pond
assays pending
MH-21-143 72.0 256 -45 South Pond
assays pending
MH-20-144 129.0 245 -59 South Pond
assays pending
* Core lengths - believed to be 90% of reported lengths.