Sokoman Minerals Outlines Proposed 2nd and 3rd Quarter 2022 Exploration on Newfoundland Projects Drilling expected to be ongoing on three projects by end of Q2, 2022
Sokoman Minerals Outlines Proposed 2nd and 3rd Quarter 2022 Exploration
on Newfoundland Projects
Drilling expected to be ongoing on three projects by end of Q2, 2022
St. John’s, NL - May 11, 2022 – Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF)
(“Sokoman” or the “Company”) is pleased to provide an outline of planned activities on the
Company’s core holdings at the Moosehead and Fleur de Lys properties, and on the strategic alliance
(“Alliance”) of three Joint Venture properties with Benton Resources Inc. (“Benton”). With $13M in
its treasury, Sokoman has sufficient funds to undertake all the exploration activities planned for 2022.
Moosehead Project
At the flagship Moosehead project in Central Newfoundland, which is targeting high -grade,
Fosterville-type, epizonal gold mineralization, diamond drilling is ongoing with three rigs, including
a barge-based drill program launched this week after an earlier than expected spring melt. The barge
drilling will focus on extending the Eastern Trend mineralization reported in MH-21-345 - 4.75 m of
20.75 g/t Au incl. 2.25 m of 39.57 g/t Au (see the January 20, 2022 press release), to the north.
Approximately 48,000 metres remain to be completed in the current 100,000 m drill program that is
expected to continue into the fourth quarter of 2022. Efforts will be focused on expanding the Eastern
Trend to depth below the currently defined 225 m level , and on-trend to the north where the zone
remains open. Drilling to infill/connect the Eastern Trend/75 Zone and the South Pond areas above
the 200 m level is expected to be completed in the second quarter. Assay results for portions, or all
of 50 drill holes in these areas, remain pending.
Drilling will also continue in the southern half of the property where multiple till (gold grain)
geochemistry and coincidental structural targets remain untested. In late March 2022, a five -hole
fence targeted a combined magnetic and C horizon till anomaly (54 gold grains) 1.0 km southwest of
the South Pond Zone, intersecting the assumed main Valentine Lake Shear Zon e system. All five
holes collared in Laurenceton Formation mafic volcanics , flows, and breccias with significant
shearing, multi -stage quartz veining , and up to 5% disseminated pyrite and arsenopyrite
mineralization. Assay results remain pending.
Additional drilling will also test the 253 Zone where a subparallel structure carrying quartz veining
and disseminated pyrite + arsenopyrite, first intersected in MH-21-253, returned assays of 7.5 m of
0.31 g/t, and 1.78 g/t Au over 1.40 m in the area where mineralized float including visible gold has
been found. The 253 Structure is interpreted to be several km in length and has had minimal drilling.
The Company will also be continuing , and ramping up , baseline environmental studies including
water testing, wildlife surveys, and historical activities ( logging related), as well as preliminary
metallurgical test work on the gold mineralization. A preliminary budget of $6 million is proposed
for the remainder of calendar 2022 on the Moosehead project.
Fleur de Lys
Exploration at the 100%-owned Fleur de Lys project, located on the Baie Verte Peninsula in north -
central Newfoundland, will focus on defining drill targets on the 480 sq. km property where Phase 1
exploration, completed in late 2021, identified a 30 km long, gold in till, anomaly. Pristine gold grains,
suggesting a short distance of transport from source, have been returned from multiple sites, and grab
samples of rocks taken during the till sampling, have given Au values up to 4.6 g/t. Drill targets are
expected to be defined by the fourth quarter with a pre-drilling budget of $600,000. The rocks of the
Fleur de Lys Supergroup are equivalent to the Dalradian Supergroup in the United Kingdom where
several major gold deposits, including the six-million-ounce Curraghinalt deposit, are located.
Grey River – Sokoman / Benton Joint Venture Alliance
In the fall of 2021, a five-hole, first-phase, drilling program was completed at the Grey River project
on the south coast of Newfoundland, testing portions of the Grey River “quartz zone”, a 14 km-long
zone of massive silica that has given widespread gold values (up to 225 g/t Au) from surface sampling
in the 1980s and 1990s, none of which had been drill tested. The 2021 holes were scattered over a 5
km-long portion of the silica body with all five holes return ing significant gold values (> 1 g/t Au)
up to 1.80 m of 10.58 g/t Au , all holes cutting at least two mineralized zones and all mineralization
remaining open along strike and to depth . A drill, a camp , and fuel has been secured and will be
mobilizing to site by early June to commence a 20-to-30-hole drill hole program following up on the
2021 results. The Alliance has increased its landholdings in the area with the recent staking of more
than 400 claims covering structural and gold geochemical targets located to the east of the main
property. A jointly funded budget of $2 million has been proposed for this program.
Golden Hope – Sokoman / Benton Joint Venture Alliance
In 2021, the Alliance an nounced the discovery of significant lithium mineralization in a swarm of
pegmatite dykes located 14 km to the west of the Burgeo Highway, in southwestern Newfoundland.
Subsequent prospecting and sampling in the fall of 2021 defined a 2 km by 1.2 km area hosting
multiple, lithium-rich (spodumene), pegmatite dykes , with more than 100 float and outcrop grab
samples and composite chip samples, that returned lithium values ranging from 0.05% to 2.37% Li2O
with more than 25% returning > 1 % Li 2O. In early 2022, the Alliance complete d a 1,025 m
reconnaissance drilling program to establish the dike orientation and depth extension. A small area
(100 m x 150 m) near the discovery outcrops was tested with five short holes. All holes hit mineralized
(spodumene-bearing) dykes ranging from less than 1.0 m to 8.4 m in drilled width. Results to date
from hole one include a grade of 0.95% Li2O over the 8.4 m width. All remaining assays are pending.
The Alliance has secured a camp, a track-mounted drill, and fuel for a summer drill program testing
as many of the known dykes as possible , with up to 30 -40, mainly shallow holes (<100 m) .
Concurrent prospecting and mapping will sample and evaluate numerous pegmatite dikes along a 20
km stretch of the favourable corridor straddling the Bay d’Est Fault , where none of the reported
pegmatite dykes were sampled for lithium . Camp setup and d rill mobilization are expected in mid-
June. The Alliance has proposed a $3 million budget for this program.
Kepenkeck – Sokoman / Benton Joint Venture Alliance
The property is located in east-central Newfoundland directly on-trend to the northeast of Canstar
Resources’ Golden Baie property where drill results of 9.6 g/t Au over 7.7 m have been reported (see
Canstar Resources’ website). The early-stage project, where limited prospecting in the fall of 2021
located a 5.46 g/t Au rock grab samp le, is targeting structurally -controlled, orogenic gold
mineralization. A program of 200 m to 300 m spaced soil lines with samples at 25 m spacing across
prospective structures identified from airborne magnetics, with concurrent prospecting, is planned.
Work is expected to commence by June with a budget of $200,000.
Tim Froude, President , and CEO of Sokoman, says : “2022 will be a pivotal year for Sokoman
through the advancement of our flagship Moosehead project where, by year-end, we expect to have
completed 120,000 metres of diamond drilling since acquiring the project. We are confident that we
will have merged most , if not all, of the known mineralized zones into a single entity and that new
discoveries will come from our continued exploration elsewhere on the property. At the 100%-owned
Fleur de Lys project, we expect to discover new gold showings through follow -up of the 2021 till
program and we will be aggressively moving to establish drill targets. At Grey River and Golden
Hope, we will be drilling with JV partner Benton Resources Inc. on two of the three projects we hold
through our Alliance.”
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 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 north-central 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 wi th Benton Resources Inc.
through three , large-scale, joint-venture properties including Grey River, Golden Hope and
Kepenkeck in Newfoundland. The Golden Hope project hosts a recently discovered zone of lithium-
bearing pegmatite dikes that has returned significant grades of Li 2O from surface sampling and
diamond drilling including 8.4 m grading 0.95% Li 2O from GH-22-01. The Grey River project was
recently tested with five recon drill holes all of which returned gold values highlighted by 10.58 g/t
Au over 1.80 m including 50.13 g/t Au over 0.35 m from GR-21-01.
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 N ewfoundland and Labrador for financial
support of the Fleur de Lys project through the Junior Exploration Assistance Program.
To learn more, please contact:
Timothy Froude, P.Geo.,
President & CEO
Cathy Hume, VP
Corporate
Development,
Director
Thomas Do,
IR Manager, CHF Capital
Markets
Website:
www.sokomanmineralscorp.com
709-765-1726 416-868-1079 x 251 416-868-1079 x 232 Twitter: @SokomanMinerals
[email protected] [email protected] [email protected] Facebook: @SokomanMinerals
LinkedIn:
@SokomanMineralsCorp
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.