Sokoman Reports First Barge-Based Drill Results, Moosehead Gold Project, Central Newfoundland Phase 6 drill Program doubled to 100,000 m.
Sokoman Reports First Barge-Based Drill Results, Moosehead Gold Project,
Central Newfoundland
Phase 6 drill Program doubled to 100,000 m.
ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--November 10, 2021--
Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) is pleased to report the first results
from the barge-based drilling on North Pond on the 100%-owned Moosehead Project in the
Central Newfoundland Gold Belt.
MH-21-291: 4.95 m of 27.70 g/t Au from 41.55 m downhole
MH-21-283: 4.20 m of 14.72 g/t Au within 9.80 m of 6.65 g/t Au from 53.00 m downhole
The results confirm shallow, high-grade, gold-bearing quartz veins which are extensions to the
Upper Eastern Trend and the Footwall Splay mineralized zones (plan map attached). The
reported holes were drilled on a 10 m to 15 m grid spacing south of MH-20-115, which gave
significant intercepts of 4.60 m of 47.20 g/t Au from the Footwall Splay, and further downhole,
8.10 m of 68.70 g/t Au from the Upper Eastern Trend (November 19, 2020 NR). The new holes
are on trend towards the 75 Zone, located approximately 150 m further south, and from where
recent results include MH-21-234 that returned 4.80 m of 17.56 g/t Au (September 28, 2021
NR).
The following table summarizes the rush metallics assay results from the first five drill holes
from this program:
DDH # Depth Az. Dip Target
From
(m)
To
(m)
Length
m*
Au
(g/t)
G x
M
Visible
Gold
MH-21-283 149 285 -60 Footwall Splay 53.00 62.80 9.80 6.65 65.18 Y
incl 53.60 57.80 4.20 14.72 61.85 Y
MH-21-287 83 286 -74 Eastern Trend 53.50 58.10 4.60 1.21 5.55 Y
MH-21-289 69 297 -58 Eastern Trend
Footwall Splay
33.45 35.00 1.55 5.23 8.10 Y
and 44.00 46.80 2.80 11.69 32.74 Y
MH-21-290 54 287 -59 Eastern Trend
Footwall Splay
30.00 33.75 3.75 2.07 7.77 N
and 41.40 44.10 2.70 20.47 55.27 Y
Eastern Trend
Footwall Splay
MH-21-291 72 287 -76 41.55 46.50 4.95 27.70 137.10 Y
incl 41.55 43.35 1.80 45.73 82.31 Y
and 45.50 46.50 1.00 54.63 54.63 Y
* Lengths are core lengths and believed to be 90% true thickness.
Tim Froude, President and CEO of Sokoman, says: “We are extremely pleased with the early
results from the North Pond, barge-based, drilling. We have been stressing the importance of this
program for several months and it is very rewarding to see our expectations met with these
strong results. The barge program to date consists of 20 holes with mineralized veins
encountered in the majority of the holes. Some holes tested both the Upper Eastern Trend and the
Footwall Splay zones with the table above reporting both intersections. The barge program will
continue as long as conditions allow. Winter conditions, mainly freezing, are expected in late
November to mid-December, at which point the barge will be pulled from the pond and
mothballed until spring 2022. We are also pleased to announce that the current 50,000 m
program has been increased to 100,000 m with drilling to continue with occasional breaks
through 2022. We see growth potential in all areas of the known mineralized corridors as well as
discovery potential on our numerous regional targets.”
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.
Analytical Techniques / QA/QC
Samples, including duplicates, blanks and standards, were submitted to Eastern Analytical Ltd.
in Springdale, Newfoundland for gold analysis. 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 personnel. Eastern
Analytical Ltd. is an accredited assay lab that conforms to the 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 to 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 Ltd. All reported assays are uncut.
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 northwestern
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 with Benton Resources Inc. through three, large-scale joint-venture
properties including Grey River, Golden Hope and Kepenkeck in Newfoundland. Recently, the
Company and partner Benton Resources Inc. announced a potentially significant lithium
discovery on the Golden Hope JV with chip sample results in excess of 2% Li₂O from the
Kraken Pegmatite Field which has grown in size to over 2 km in strike length and up to 1.2 km
in apparent width. The alliance partners are completing LiDAR and air photo drone surveys over
the pegmatite swarm, as well as detailed mapping and sampling with additional assays pending.
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.
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 x 251
Website: www.sokomanmineralscorp.com
Twitter: @SokomanMinerals
Facebook: @SokomanMinerals