Sokoman Resumes Diamond Drilling at the Moosehead Gold Project, Central Newfoundland Emphasis on Emerging 552 Zone
Sokoman Resumes Diamond Drilling at the
Moosehead Gold Project, Central Newfoundland
Emphasis on Emerging 552 Zone
St. John’s, NL, February 14, 2024 – Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF)
(“Sokoman” or the “Company”) is pleased to report that the winter diamond-drilling program has
begun, with a focus on extending the recently discovered 552 Zone, 400 m to the east of the main
Eastern Trend. The 2,500-metre program will test a 150-metre strike length of the zone to a depth
of approximately 125 metres, and will take six to eight weeks to complete. Drilling to date on the
552 Zone has defined a two- to five-metre wide zone of quartz veining and quartz breccia carrying
fine free gold, sphalerite , and boulangerite. The best grade was intersected in hole MH -23-574,
which returned 5.00 g/t gold over a 2.10 metre core length.
Timothy Froude, P.Geo., President and CEO states: “We are eager to get started on extending
the new 552 Zone to depth and along strike . The 552 Zone is extremely important since it
represents a new gold-bearing structure on the property . We are confident that the 552 Zone has
the potential to host sections of significantly higher grades. Three of the five most recent drill
holes carried visible gold within 50 m of the surface. It is very encouraging to see so many
similarities with our other high-grade zones.”
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.
Analytical Techniques / QA/QC
Samples, including duplicates, blanks, and standards, are submitted to Eastern Analytical Ltd. in
Springdale, Newfoundland for gold analysis. All core samples submitted for assay are saw cut by
Sokoman personnel with one-half submitted for assay and one-half retained for reference. Samples
are 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 visible
gold are submitted for total pulp metallics with a gravimetric finish. All other samples are analyzed
by standard fire assay methods. Total pulp metallic analysis includes: the entire sample is crushed
to -10 mesh; and 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; the 100% flagship, advanced -stage Moosehead, as well as Crippleback Lake; and East
Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt,
and the district-scale Fleur de Lys project near Baie Verte in northwestern Newfoundland, that is
targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw
deposits in Northern Ireland. The Company entered into a strategic alliance with Benton Resources
Inc. through three, large -scale, joint-venture properties including Grey River, Golden Hope, and
Kepenkeck in Newfo undland. 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.
In October 2023, Sokoman and Benton completed an agreement with Piedmont Lithium Inc., a
major developer of lithium projects and processing plants in the USA, and exactly the right partner
to have to advance the lithium project. The agreement provides for Piedmont to earn up to 62.5%
of the Killick Lithium Project (formerly Golden Hope project) by funding up to $12 million in
exploration expenses and issuing $10 million common shares in three stages. The Killick Lithium
Project has been transferred to Killick Lithium Inc. (Killick), a 100%-owned subsidiary of Vinland
Lithium Inc. (Vinland). Newly created Vinland has received $2 million in financing from
Piedmont for a 19.9% interest, with the balance of ownership between Sokoman and Benton.
Sokoman and Benton will continue to operate the exploration efforts at Killick through the earn -
in stages. Sokoman and Benton will retain a royalty of 2% NSR on future production. Piedmont
will have exclusive marketing rights for the promotion and sale of any lithium products produced
from the Project on a life-of-mine basis, and the right of first refusal on 100% offtake rights to the
lithium concentrates.
The Company also retains a 1% NSR interest in an early-stage antimony/gold project (Startrek) in
Newfoundland, optioned to Thunder Gold Corp (formerly White Metal Resources Inc.), and in
Labrador, the Company has a 100% interest in the Iron Horse (Fe) proj ect 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 past
financial support of the Moosehead and Fleur de Lys gold projects through the Junior Exploration
Assistance Program.
For more information, please contact:
Timothy Froude, P.Geo., President & CEO
T: 709-765-1726
Cathy Hume, VP Corporate Development, Director
T: 416-868-1079 x 251
Website: www.sokomanmineralscorp.com
Twitter: @SokomanMinerals
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 uncertaintie s. 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.