Sokoman Receives Western Trend Assays at Moosehead, Newfoundland Historical High-Grade Results Confirmed and Expanded, TWO New Near-Surface Vein Zones Discovered
SOKOMAN RECEIVES WESTERN TREND ASSAYS AT MOOSEHEAD, NEWFOUNDLAND
HISTORICAL HIGH-GRADE RESULTS CONFIRMED AND EXPANDED, TWO NEW NEAR-SURFACE
VEIN ZONES DISCOVERED
St. John’s, NL, August 29, 2018 - Sokoman Iron Corp. (‘Sokoman’ or ‘the Company’) (TSX-V: SIC)
is pleased to announce that it has received assay results from the remaining 12 holes completed at the
Moosehead Project in Central Newfoundland, with holes MH -18-07 and MH -18-08 intersecting near
surface, high-grade visible gold veins highlighted by MH -18-08 intersecting two vein zones assaying
1.05 m @ 207.51 g/t Au from 8.50 m downhole, and 2.28 m @ 42.36 g/t Au from 33.07 m downhole.
Diamond drill holes MH -18-04 to MH -18-13 focused on the Western Tre nd (see attached drill plan)
approximately 250 m west of the Eastern Trend. Eight of the 15 holes completed in Phase 1 reported
visible gold-bearing quartz vein zones. Highlights of the remaining holes are shown in the following
table, and a more detailed set of results can be found at the end of this news release including additional
intercepts in MH-18-01.
DDH #
Total
Depth Target From (m) To (m)
Core
Length (m) Au (g/t)
Visible
Gold
MH-18-04 103.00 m Western Trend 49.85 53.25 3.40 2.60 Y
incl 51.82 53.00 1.18 5.06
MH-18-05 78.50 m Western Trend 47.35 48.50 1.15 3.13 Y
incl 47.35 47.70 0.35 9.73 Y
MH-18-06 100.00 m Western Trend 43.00 47.50 4.50 3.50
incl 43.00 44.00 1.00 10.62
MH-18-07 76.00 m Western Trend 7.00 9.25 2.25 6.19 Y
incl 7.50 8.70 1.20 10.00
18.20 24.05 5.85 2.79 Y
incl 18.20 19.00 0.80 14.66
MH-18-08 103.00 m Western Trend 8.50 9.55 1.05 207.51 Y
incl 9.05 9.20 0.15 1,435.58 Y
33.07 35.35 2.28 42.36 Y
incl 33.07 33.62 0.55 131.65 Y
MH-18-13 247.00 m Western Trend 65.20 66.65 1.45 8.94 Y
incl 65.20 65.50 0.30 37.33 Y
Note: Core length intercepts reported are 50 to 90% of true thickness.
Timothy Froude, P. Geo., President and CEO, states: “Results from Phase 1 have surpassed our
expectations and have given us great cause to be optimistic about the future. The recent financing has
provided us with the opportunity to thoroughly evaluate the Moosehead property and to unlock its full
potential. Like many structurally controlled gold deposits, this will e ntail a lot of drilling - likely,
closely spaced. Phase 2 will focus on the Eastern Trend’s high-grade mineralization intersected in MH-
18-01, and continue to build on open- ended zones of mineralization in the Western Trend as well as
other areas of the property.
The results confirm and expand on historical results from the Western Trend area and are highlighted
by holes MH -18-07 and MH -18-08 (collared 40 metres apart) which intersected high -grade (visible
gold bearing) veins at or less than 1 metr e vertically from the bedrock contact immediately below the
overburden. MH -18-07 intersected miner alized quartz 1.00 metr es down hole and MH -18-08 cut a
mineralized quartz vein zone at a downhole depth of 1.05 metr es. Both near surface veins are believed
to be new veins, and both holes also intersected additional mineralized veins at shallow depths (15 to 25
metres vertically) that extend mineralization intersected in previously released holes MH -18-02 and
MH-18-03 by 50 metres to the west and the mineralization remains open. MH -18-13, drilled 50 metres
on section northeast of (beneath) MH-18-08, successfully extended the high- grade structure by 50
metres to the north, down dip of the high-grade intercept (2.28m @ 42.36 g/t Au core length) in MH-
18-08. The current program did not test the zone any further to the west.
Drill hole MH -18-14 was collared to test for a possible southwest trend to historical hole MH -02-38
which reported 2.02 m @ 111 g/t Au (not verified by Sokoman), the hole did intersect a weakly
mineralized structure not believed to be the same structure intersected by the historical hole. The
Company is planning additional drilling in the vicinity of MH -02-38 based on knowledge gained from
MH-18-14. MH-18-15 was a reconnaissance hole drilled to test a historical soil geochem ical anomaly
approximately 450 metres north of the Eastern Trend. T he hole did intersect a weakly mineralized fault
zone, but no significant results were obtained.
The Company has also received the results of the televiewer survey completed on selected holes from
the Phase 1 Program, specifically MH -18-01, 02, 04 and 08. The results are being compiled and
matched with the drill logs and will help formulate the next Phase of drilling expected to commence on
or about October 1, 2018, pending receipt of all necessary permits. Sokoman will be seeking quotes for
up to 10,000 metres of drilling in the coming days and expect site preparations to begin sometime after
mid-September. The Company will provide a further update at that time.
QA/QC
A total of 495 samples, including duplicates, blanks and standards, have been submi tted to Eastern
Analytical Ltd. in Springdale, Newfoundland for gold and ICP analysis. Samples suspected of carrying
visible gold were submitted for total pulp metallics and gravimetric finish. All other samples were
analyzed by standard fire assay methods . Eastern Analytical is an accredited assay lab that conforms to
requirements of ISO/IEC 17025. Total pulp metallic analysis is a result of a whole sample being
crushed to -10 mesh and pulverized to 95% - 150 mesh. The total sample is then weighed and scree ned
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. A calculated weighted average of total Au in the sample is reported as
well. The Company included in the sample stream one blank and one industry approved standard for
every ten samples submitted, as well as random duplicates of selected samples. This is in addition to
the in-house standard and duplicate policy of Eastern Analytical.
Diamond drilling was carried out by Spr ingdale Forest Resources, who provided superior drilling
services while maintaining a stringent environmental policy. The Company would also like to thank the
Government of Newfoundland and Labrador for approving the Moosehead Program for 2018 JEA
Funding.
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 for Sokoman Iron Corp.
About Sokoman Iron Corp.
Sokoman Iron Corp. (TSX -V: SIC) is a discovery -focused company with projects in Newfoundland &
Labrador, Canada. Sokoman’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/V/REE) project in Western Labrador.
Contact:
Timothy Froude, P. Geo., President & CEO
Phone: 709-765-1726
Email: [email protected]
Cathy Hume, Director
Phone: 416-868-1079
Email: [email protected]
Website: www.sokomaniron.com
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 Iron 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 docume nts filed from time to time with the Canadian
securities regulatory authorities by Sokoman Iron Corp.
Phase 1. Expanded Summary Table of Results – Moosehead Project, NL
DDH #
Length
m Target
From
(m) To (m)
Core Length
(m) Au (g/t)
Ag
(g/t)*
Visible
Gold
MH-18-
01 250.0
Eastern
Trend 68.10 69.35 1.25 7.11 Y
incl 68.75 69.00 0.25 35.04 Y
96.85 97.25 0.40 6.19
109.00 120.90 11.90 44.96 Y
incl 115.25 120.90 5.65 93.56 Y
incl 115.25 116.60 1.35 385.85 33.58 Y
and 157.65 166.60 8.95 4.20 Y
incl 157.65 158.98 1.33 19.72 Y
MH-18-
02 85.0
Western
Trend 28.80 35.65 6.85 0.50
42.10 46.55 4.45 0.50
incl 42.10 42.85 0.75 1.65
48.35 51.65 3.30 6.76 Y
incl 50.45 51.65 1.20 12.59 Y
MH-18-
03 61.0
Western
Trend 18.65 25.07 6.42 8.18 Y
incl 23.90 25.07 1.17 35.31 Y
and 37.60 40.05 2.45 1.06
MH-18-
04 103.0
Western
Trend 35.75 36.50 0.75 1.45
49.85 53.25 3.40 2.60 Y
incl 51.82 53.00 1.18 5.06
75.65 76.30 0.65 1.30
101.80 103.00 1.20 1.63
MH-18-
05 78.5
Western
Trend 47.35 48.50 1.15 3.13 Y
incl 47.35 47.70 0.35 9.73 Y
MH-18-
06 100.0
Western
Trend 43.00 47.50 4.50 3.50
incl 43.00 44.00 1.00 10.62
MH-18-
07 76.0
Western
Trend 7.00 9.25 2.25 6.19 Y
incl 7.50 8.70 1.20 10.08 Y
and 18.20 24.05 5.85 2.79 Y
incl 18.20 19.00 0.80 14.46 Y
MH-18-
08 103.0
Western
Trend 8.50 9.55 1.05 207.51 Y
incl 8.50 8.65 0.15 11.23 Y
and 8.65 9.05 0.40 2.05
and 9.05 9.20 0.15 1435.58 80.90 Y
33.07 35.35 2.28 42.36 Y
incl 33.07 34.22 1.15 83.17 Y
MH-18-
09 100.0
Western
Trend 96.00 97.35 1.35 0.67
Abandoned
due to
water
issues.
MH-18-
10 88.0
Western
Trend
No
Significant
Values
MH-18-
11 94.0
Western
Trend 65.20 66.80 1.60 4.17
MH-18-
12 133.0
Western
Trend 73.00 74.50 1.50 0.86
79.20 81.55 2.35 2.92
MH-18-
13 247.0
Western
Trend 13.00 13.95 0.95 1.27
65.20 66.65 1.45 8.94 Y
incl 65.20 65.50 0.30 37.33
MH-18-
14 97.0 62.90 66.00 3.10 0.65
incl 63.75 64.35 0.60 1.20
MH-18-
15 355.0
Recon hole -
No
significant
values
* Locally significant grades of silver (Ag) do occur at Moosehead but appear limited to extremely high gold grades.
Previously unreleased assays in bold type.