Sokoman Reports Final Assays from Phase 2 Drilling and Receives Report on Structural Analysis of the Eastern Trend Moosehead Project, NL
Sokoman Reports Final Assays from Phase 2 Drilling and
Receives Report on Structural Analysis of the Eastern
Trend Moosehead Project, NL
St. John's, Newfoundland--(Newsfile Corp. - January 31, 2019) - Sokoman Iron Corp.
(TSXV: SIC) ('Sokoman' or 'the Company')
is pleased to announce that it has received all outstanding assay results for drill holes completed during the Phase 2 diamond
drill program on the high-grade Moosehead Gold Project in north-central Newfoundland.
The results are mainly from the Western
Trend and historical targets up to 1 kilometre to the north and south of the Western Trend.
The results also include assays from
infill sampling from MH-18-39, and two holes not previously reported on from the Eastern Trend, MH-18-37 and 40.
All core
intersections from the Phase 2 drilling that were thought to have intersected high-grade mineralization based on quartz veining
and visible gold sightings, were cut and rush assayed in December 2018 with results reported in the December 14, 2018 News
Release.
The full results are in a table appended to this news release.
The Company is also pleased to announce that the Phase 3 diamond drilling will begin immediately and will focus on targets
identified from a preliminary structural evaluation recently completed on the Eastern Trend.
While the ice thickness on North
Pond is currently not sufficient to support drilling equipment, extensions to the Eastern Trend can be tested by land-based
drilling.
In the meantime, the Company will continue with efforts to increase ice thicknesses, by flooding, at North Pond.
Eastern Trend Highlights include the intersections below (core lengths reported, true widths vary from 60% to 100% of
intersected widths):
MH-18-40 14.70m @ 0.98 g/t Au incl., 0.65m @ 13.00 g/t Au
MH-18-39 9.05m @ 70.29 g/t Au (incl., 5.10m @ 124.21 g/t Au
previously reported
)
MH-18-37 3.70m @ 0.92 g/t Au incl., 0.70 m @ 2.45 g/t Au
Additional sampling in MH-18-39 immediately up-hole from the previously reported 5.10m high-grade section returned low grade
gold values for an additional 3.95m including 1.40m @ 1.34 g/t Au. Sampling immediately downhole from the 5.10 high grade
intercept returned only anomalous gold values to a maximum of 94 ppb. The revised intersection is: 9.05m @70.29 g/t Au from
75.45m downhole.
Results from holes MH-18-37 and 40 suggest they did not properly intersect the plane of the newly
recognized Eastern Trend shear zone.
Structural Analysis - Eastern Trend
In early January, 2019, the Company commissioned an analysis of the structural setting and possible controls of the high-grade,
gold bearing system at the Eastern Trend.
The preliminary study (final report in progress), was completed by Earth Tectonics
Limited, the same firm that completed the 2016 structural report on the Moosehead property for then owner Altius Resources Inc.
The 2016 report revealed that high-grade veins in the Western Trend were oriented East-West, nearly parallel to the direction of
most of the historical drilling, thus calling into question the value of the earlier drilling.
The structural analysis utilizes data from the
Company's 2018 televiewer survey, as well as the examination and relogging of holes recently completed on the Eastern Trend
including MH-18-01.
The report has identified the following features of the Eastern Trend:
The highest-grade intersections (e.g. MH-18-01, 17 and 39) occur in a ductile-brittle Shear Zone of uncertain width which
has an overall dip of 50 degrees East and a strike trend of 010 degrees which is largely untested and of unknown strike
length and depth extent;
The Shear Zone is a large-scale, kilometric, structure of uncertain regional strike trend beyond the small drilled area and
with possible links to the regional faults/thrusts bounding the gold district. This may be the most important structure in the
local district, and the central axis of the Au system.
Strike continuations of this structure are unknown and undrilled. As well
as along the strike continuation, the best potential may be at depth where the structure roots into the regional NE striking
thrust faults.
Gold is occurring in two different styles and geometries of structures which need to be evaluated with carefully oriented
drilling of each type;
The newly defined local orientation of the shear zone provides an explanation for the distribution of both the high-grade drill
intercepts and the lower grade intercepts in the Eastern Trend, with the lower grade intersections drilled either just above
or below the shear zone (e.g. MH-18-16, 18, 37, 40);
The shear zone has two internal shear and fabric elements, a 20-30 degree East dip and a 50-70 degree East dip, in an
overall 45 to 50 degree dipping zone.
The internal shear pattern may locally control the Au grade whilst the geometry of the
shear sets suggests that structural ore shoots within the plane of the shear zone may be shallow plunging with lower grade
zones between them.
Timothy Froude, P. Geo. and President and CEO of Sokoman Iron states; "The 7,643 metre, thirty-five hole, Phase 2 drilling
campaign has expanded the footprint of both the Western and Eastern Trends, with key step-outs to the North and South of the
Eastern Trend discovery hole, MH-18-01, as well as in the up-dip direction with the zone remaining open.
In addition, the
preliminary report from Earth Tectonics presents a positive view of the Eastern Trend mineralization and its potential, portions of
which can be drilled from the east side of North Pond thus lessening the dependence on an "ice based" platform.
The surface
projection of the newly defined shear zone lies along the western shoreline of North Pond where previous workers have reported
clusters of visible gold bearing quartz float assaying from 19 to 149 g/t Au, supporting the interpreted projection of the shear
zone.
Land-based drilling will commence immediately and will use the structural report for drill targeting in addition to high priority
areas to the south.
Once ice conditions are deemed safe, drilling from the ice surface to test other sections of the Eastern Zone
will begin using a second rig."
Western Trend Highlights Include (core thickness):
•
MH-18-28 2.00m @ 3.34 g/t Au, incl. 0.33m @ 11.76 g/t Au;
•
MH-18-31
1.40m @ 3.87 g/t Au, incl. 0.40m @ 13.07 g/t Au;
•
MH-18-32
1.35m @ 17.01 g/t Au, incl. 0.40m @ 38.58 g/t Au;
•
MH-18-36
5.85m @ 1.12 g/t Au, incl. 0.30m @16.48 g/t Au;
Additional Targets
Phase 2 drilling also resulted in the discovery of a potentially significant new zone of gold mineralization in MH-10-103, located
approximately 1 km to the north of the Eastern Trend in the general vicinity of a cluster of historical quartz vein boulders that were
drill tested by previous operators in 2002.
Historical drill hole MH-02-39 reported an eight metre zone of quartz breccia and
veining with assays of 552 ppb Au over 2.3 m* in a broader zone of anomalous gold values.
(*
Values reported are historical in
nature and not verified by Sokoman Iron Corp.)
Previously reported MH-18-103, collared 30 metres ahead (west) of MH-02-39,
intersected the brecciated zone, but continued beyond the termination of the 2002 drill hole and intersected a second, more
strongly mineralized (3-5% pyrite/sphalerite/boulangerite + 1 speck of visible gold) vein zone over a 2.40 m core length, similar
in appearance to the Western Trend (true thickness unknown).
The interval returned an average grade of 1.01 g/t Au, lower than
anticipated, but not unexpected given the nuggety nature of gold mineralization on the property.
Additional drilling included two
step-out holes MH-18-107 and 109, 25 m to the north and south respectively, of MH-18-103.
Both holes intersected only
anomalous gold values, however, the Company believes that the source of the high-grade float is local and will consider
additional work in the area.
Two holes (MH-18-41 and 42) have been drilled down-dip (25 and 40 m respectively) from historical hole MH-02-34 located 500
m to the south of the Eastern Trend intersections.
Historical hole MH-02-34 returned a 5.50 m interval (core length from 67.64 m
down-hole) averaging 4.15 g/t Au, including 1.05 m at 18.31 g/t Au* (with 28 total specks of gold reported).
MH-18-41 reported 4
specks of visible gold between 91.50 and 93.90 m down-hole and returned a 7.20 m section with two mineralized intervals
assaying: 2.29 g/t Au over 0.60 m from 91.05m downhole, and 1.43 g/t Au over 1.10m from 93.70m downhole, again reflecting
the unpredictability of visible gold (all core thicknesses, true thickness not known).
The company intends to test other property
wide high priority targets while evaluating results to date from areas already tested.
*Values reported are historical in nature
and not verified by Sokoman Iron Corp.
QA/QC
A total of 2148 samples, including duplicates, blanks and standards, have been submitted to Eastern Analytical Ltd. in
Springdale, Newfoundland for gold and ICP analysis. Samples with possible 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 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. 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 twenty 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.
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 Iron Corp.
Drilling services is being provided by the Diamond Drilling Division of Springdale Forest Resources Inc., a diversified natural
resources-focused company based in Springdale, NL. The Company would also like to thank the Government of Newfoundland
and Labrador for approving the Moosehead Phase 1 Program for 2018 JEA Funding.
About Sokoman Iron Corp.
Sokoman Iron Corp. (TSXV: 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.
To learn more, please contact:
Timothy Froude, P. Geo.,
President & CEO
709-765-1726
Cathy Hume,
Investor Relations
416-868-1079
Website:
www.sokomaniron.com
Twitter:
@SokomanIron
Facebook:
@SokomanIron
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.
Forward-Looking Statements:
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 documents filed from time to time with the Canadian securities regulatory authorities by
Sokoman Iron Corp.
Figure 1
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Figure 2
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Figure 3
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Table of Results: Phase 2 Diamond Drilling
Note: Core length intercepts reported are 50 to 100% of true thickness.
DDH
#
Dip
Depth
m
Target
From
(m)
To
(m)
Core Length
(m)
Au (g/t)
Visible
Gold
MH-
18-
16
-45
331.0
15 m undercut of
MH-18-01
55.55
56.05
0.5
1.92
Eastern Trend
67.65
69.90
2.25
1.05
216.40
220.40
4.00
1.34
incl
216.40
217.40
1.00
4.14
MH-
18-
17
-45
316.0
15 m step-out North
of MH-18-01
74.05
74.70
0.65
2.60
Eastern Trend
79.80
82.10
2.30
79.23
Y
incl
80.85
81.35
0.50
332.21
Y
97.00
99.25
2.25
3.61
133.05
157.95
24.90
33.56
Y
incl
140.70
143.70
3.00
41.44
Y
and
153.10
154.50
1.40
59.79
Y
and
156.50
157.95
1.45
278.00
Y
MH-
18-
18
-53
337.0
undercut of MH-18-
17 from same setup
51.65
52.25
0.60
6.53
Eastern Trend
69.60
74.30
4.70
0.60
MH-
18-
19
-45
316.0
30 m step-out North
of MH-18-01
25.00
25.65
0.65
2.39
Eastern Trend
72.75
73.50
0.75
1.03
185.75
187.10
1.35
0.85
MH-
18-
20
-53
294.0
undercut of MH-18-
19 from same setup
12.00
15.00
3.00
0.77
Eastern Trend
67.00
74.15
7.15
3.38
incl
70.25
74.15
3.90
5.60
incl
70.25
72.40
2.15
9.36
Y
216.50
217.50
1.00
1.98
MH-
18-
21
-45
439.0
45 m stepout North
of MH-18-01
141.60
144.10
2.50
0.57
Eastern Trend
267.00
269.65
2.65
2.81
incl
268.00
268.65
0.65
10.70
376.20
376.29
0.09
3.92
Y
MH-
18-
22
-50
460.0
Undercut of MH-18-
21 from same setup
30.20
31.15
0.95
1.22
Eastern Trend
95.80
99.80
4.80
0.57
103.00
108.00
5.00
0.35
380.05
381.40
1.35
1.35
MH-
18-
23
-45
100.0
Test up and downdip
of MH-18-11 and
MH-01-16
75.00
76.00
1.00
2.61
Y
Western Trend
DDH
#
Dip
Depth
m
Target
From
(m)
To
(m)
Core Length
(m)
Au (g/t)
Visible
Gold
MH-
18-
24
-45
97.0
Test updip of MH-18-
11
57.90
59.60
1.70
1.90
Y
Western Trend
MH-
18-
25
-45
106.0
Test updip of MH-02-
18
20.80
21.80
1.00
1.08
Western Trend
MH-
18-
26
-45
85.0
Test downdip of MH-
18-07, MH-18-06
58.80
60.25
1.45
0.98
Western Trend
MH-
18-
27
-45
184.0
Test downdip of MH-
18-07, MH-18-06
71.20
77.20
6.00
0.59
Western Trend
incl
75.20
76.20
1.00
2.40
MH-
18-
28
-45
140.5
Test downdip of MH-
18-04
65.00
67.00
2.00
3.34
Western Trend
incl
65.70
66.03
0.33
11.76
Y
MH-
18-
29
-45
61.0
Test updip of MH-18-
10 & 08
14.90
18.15
3.25
1.95
Westerm Trend
incl
16.45
17.15
0.70
4.64
MH-
18-
30
-45
77.0
Test updip of MH-18-
08, MH-18-13
45.90
46.40
1.50
4.09
Western Trend
MH-
18-
31
-45
91.0
Test updip of MH-18-
08, MH-18-13
48.20
49.60
1.40
3.87
Western Trend
incl
48.20
48.80
0.60
13.07
Y
MH-
18-
32
-45
175.0
Test downdip of MH-
18-13
74.15
75.50
1.35
17.01
Western Trend
incl
75.10
75.50
0.40
38.58
Y
MH-
18-
33
-45
169.0
Test updip of MH-02-
30
NSV
Western Trend
MH-
18-
34
-45
301.0
15 m step out South
of MH-18-01
83.20
95.60
12.40
2.76
Eastern Trend
incl
93.35
95.60
2.25
9.84
Y
incl
93.95
94.45
0.50
28.90
Y
MH-
18-
35
-45
91.0
Test for extensions of
MH-02-30 & 10
17.40
18.40
1.00
1.49
Western Trend
28.20
30.90
2.70
0.93
MH-
18-
36
-45
130.0
Test downdip of of
MH-02-12
66.25
72.10
5.85
1.12
Western Trend
incl
66.70
67.00
0.30
16.48
Y
DDH
#
Dip
Depth
m
Target
From
(m)
To
(m)
Core Length
(m)
Au (g/t)
Visible
Gold
MH-
18-
37
-50
343.0
Undercut of MH-18-
34 from same setup
52.65
56.35
3.70
0.92
Eastern Trend
incl
54.65
55.35
0.70
2.45
MH-
18-
38
Hole number not
used
MH-
18-
39
-40
202.0
35 m stepout updip
of MH-18-01
75.45
84.50
9.05
70.29
Y
Eastern Trend
incl
75.45
79.40
3.95
0.67
and
79.40
84.50
5.10
124.20
Y
incl
81.40
82.50
1.10
550.30
Y
MH-
18-
40
-40
197.5
15 m stepout updip
of MH-18-17
41.20
55.90
14.70
0.98
Y
Eastern Trend
incl
55.25
55.90
0.65
13.00
MH-
18-
41
-45
145.0
Test Historical Hole
MH-02-34
87.60
94.80
7.20
0.50
incl
91.05
91.65
0.60
2.29
Y
and
93.70
94.80
1.10
1.43
Y
MH-
18-
42
-55
187.0
Test Historical Hole
MH-02-34
94.30
97.00
2.70
0.52
same setup as MH-
18-41
incl
95.50
96.10
0.60
1.13
MH-
18-
101
-45
361.0
Test Au soil/float 1
km N of East Trend
82.15
94.80
12.65
0.60
incl
83.25
87.50
4.25
1.37
incl
83.25
84.65
1.40
2.98
MH-
18-
102
-45
256.0
Test Au soil/float 1
km Nof East Trend
NSV
MH-
18-
103
-45
280.0
Test Au soil/float 1
km Nof East Trend
152.30
154.70
2.40
1.00
incl
153.85
154.40
0.55
2.32
MH-
18-
104
-45
214.0
Test Discovery Fault
300 m NW of
NSV
Eastern Trend
MH-
18-
105
-45
220.0
Test Discovery Fault
300 m NW of
NSV
Eastern Trend
MH-
18-
106
-45
277.0
Test North Pond
Fault
83.90
84.60
0.70
1.10
92.40
94.20
1.80
2.85
94.00
94.30
0.20
23.73
DDH
#
Dip
Depth
m
Target
From
(m)
To
(m)
Core Length
(m)
Au (g/t)
Visible
Gold
MH-
18-
107
-45
214.0
25 m stepout N of
MH-18-103
NSV
MH-
18-
108
-45
238.0
Test North Pond
Fault
38.20
40.90
2.70
0.77
incl
39.90
40.90
1.00
1.49
MH-
18-
109
-45
208.0
25 m stepout S of
MH-18-103
NSV
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