Sokoman Minerals Mobilizes Third Drill Rig at Moosehead Gold Project, Newfoundland
Sokoman Minerals Mobilizes Third Drill Rig at Moosehead Gold Project,
Newfoundland
ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--August 10, 2021--Sokoman
Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (the “Company” or “Sokoman”) today
announced that the third drill rig has arrived at the Company’s 100%-owned flagship Moosehead
Gold Project in north-central Newfoundland and will be deployed immediately to test high-
priority targets in the 75 Zone and Eastern Trend areas where up to 15,000 metres of the
remaining 27,000 metres remain to be drilled in the current phase. Once the Water Resources
Permit has been received, the drill rig will be relocated to drill from the barge that is ready to be
mobilized to the property. The barge program alone could entail as much as 5,000 to 10,000 m,
depending on success and depths, to target the Footwall Splay and as much of the Eastern Trend
that can be accessed. The contractor is also in the process of securing the fourth drill rig and
crew for deployment as soon as practicable.
Just under 23,000 m of the proposed 50,000 m Phase 6 program has been completed to date and
multiple strong intersections have been reported from this phase including the holes summarized
as follows:
MH-21-115 (Footwall Splay – Eastern Trend) - 4.60 m @ 47.20 g/t Au; and 8.10 m @ 68.25 g/t
Au
MH-21-163 (Footwall Splay – Eastern Trend) - 18.90 m @ 13.09 g/t Au
MH-21-141 (South Pond Zone 1) - 4.20 m @ 64.00 g/t Au
MH-21-123 (South Pond Zone 1) - 5.00 m @ 26.87 g/t Au
MH-21-203 (75 Zone) – 2.85 m @ 13.67 g/t Au
*Reported lengths are core lengths and are believed to be 70% to 85% of true thickness
About the Flagship 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 and multiple high-priority targets independent of the known zones remain
to be tested. In Phases 1 to 5, the Company completed 23,378 m (106 holes). The Company has
to date completed just under 23,000 m of a current 50,000 m Phase 6 drill program at
Moosehead.
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.
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is a discovery-oriented company with gold projects in Newfoundland
& Labrador, Canada. The Company's primary focus is its portfolio of gold projects including the
100%-owned, high-grade, Fosterville-style Moosehead Project, and the Crippleback Lake
(optioned to Trans Canada Gold Corp.), and East Alder (optioned to Canterra Minerals
Corporation) Projects, all of which lie along the Central Newfoundland Gold Belt, as well as the
100%-owned, district-scale Fleur de Lys project in northwestern Newfoundland, which is
targeting Dalradian-type 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,
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.
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
Cathy Hume, Director, Investor Relations
416-868-1079 x251
Website: www.sokomanmineralscorp.com
Twitter: @SokomanMinerals
Facebook: @SokomanMinerals