Fri, 27 Nov 2020

Near-Surface, High-Grade Splay Identified at Eastern Trend

ST. JOHN'S, NL / ACCESSWIRE / November 19, 2020 / Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) (the 'Company' or 'Sokoman') is pleased to announce that ongoing drilling at the Moosehead Project has returned high-grade gold in a near-surface, newly recognized splay off of the main Eastern Trend. Drill holes MH-20-115 and MH-20-116 were collared to the south of discovery hole MH-18-01, as part of the Company's 10,000-metre Phase 6 program.

Rush assay results (metallics) from MH-20-115 returned two intersections* as follows:

  1. upper interval of 47.20 g/t Au over 4.60 m from 64.00 m downhole
  2. lower interval of 68.70 g/t Au over 8.10 m from 111.20 m downhole

*reported lengths are core lengths and are believed to be 60 to 70% true thickness

Rush assays for MH-20-116, located 10 m further south of MH-20-115, also intersected 2 zones, including an upper interval of 11.85 g/t Au over 1.80 m from 54.50 m downhole, and a lower interval of 2.94 g/t Au over 4.30 m, including 7.57 g/t Au over 1.25 m, from 183.80 m downhole.

Tim Froude, President and CEO of Sokoman, says: 'The drill results continue to demonstrate the high-grade nature of the gold mineralization at the Moosehead Project. They also reinforce the importance of tighter drill hole spacing in these Fosterville style gold systems which provide key insights into high-grade gold variability and orientation. The Phase 6 program is continuing with one drill due to limited equipment availability given the high level of exploration in the province. As a result, we will be testing high-priority targets defined by till and magnetic surveys while we wait for all the pending assay results. We expect the drilling to continue into 2021, since several targets require winter conditions to allow access and we are also applying for permits for ice-based drilling in the winter.'

The upper intervals in MH-20-115 and 116 are interpreted to occur in a footwall splay off of the upper levels of the main Eastern Trend and correlate with an intercept in MH-18-01 (located ten metres to the north) that assayed 7.11 g/t Au over 1.25 m. MH-18-01 also included a higher-grade subinterval of a visible gold bearing quartz vein that assayed 35.04 g/t Au over 0.25 m. The splay is modelled as a northwesterly trending structure with a shallow 30-degree dip to the north. The location of the splay merger with the north trending Eastern Trend could influence and focus high-grade gold in this area. The splay is open to the south and west, and due to its orientation was not targeted in earlier drilling campaigns. Further modelling of these intercepts will take place before additional drilling is proposed for this highly prospective area. Similar high-grade splays are associated with the high-grade Swan Zone at the Fosterville gold mine in Australia.

The lower intersections in MH-20-115 and 116 extend the Eastern Trend Main zone at least 20 m to the south (remains open), which includes the MH-18-01 intercept of 11.90 m grading 44.96 g/t Au among others. The mineralization in MH-20-115 and 116 is consistent with earlier intersections in the Eastern Trend and characterized by moderate to strong stylolitic quartz veining similar to the Fosterville deposit in Australia. The strong association with antimony sulphides, mainly boulangerite, represents an additional similarity to Fosterville. (see photos here)

Phase 6 Drilling Program

A total of 4,009 metres in 15 holes has been completed testing target areas including three holes in the Western Trend (MH-20-111, 113 and 114) and 12 holes in the Eastern Trend. Drilling in the Western Trend focused on testing deeper portions of the zone and all three holes intersected structures with variable quartz veining with disseminated pyrite and arsenopyrite. To date, only MH-20-114 has been sampled and assays are pending; the other two holes, MH-20-111 and 113, are in various stages of logging and sampling.

Drilling on the Eastern Trend has involved a combination of deeper, 50-100-m spaced holes testing below the 200-metre vertical level at the north end with shallow targets in the southern portion, where only a single shallow hole (MH-20-122) has tested the zone. This drilling also includes the lower intersections in MH-20-115 and 116 as discussed above.

Mineralized shears and faults were encountered in all holes as expected, with detailed logging and sampling underway. Holes MH-20-112 and 120 intersected structures with quartz/sulphide veins with specks of visible gold in veins 30 to 50 cm wide in the main Eastern Trend shear zone. Numerous wide intervals (10-30 metres) of shearing with variable amounts of quartz veining with locally 1-3% pyrite and arsenopyrite were encountered in the deeper testing of the Eastern Trend, specifically holes MH-20-99 and 100. While not returning high grades, the holes did hit some of the thickest intersections of mineralized and altered rocks to date and suggest the zone continues to depth and will receive deeper testing later in the program. Several holes remain to be logged and sampled with assays pending for multiple holes except those in the accompanying table. Select intervals from holes with visible gold noted are being prioritized for rush analysis.

About Moosehead Gold Project

The 100%-owned Moosehead Gold Project is located along the Trans-Canada Highway in North Central Newfoundland, on the same structural trend as the advanced Valentine Lake Project (Marathon Gold), and adjacent to New Found Gold's Queensway Project. Both the Moosehead and Queensway projects are targeting high-grade, turbidite hosted, Fosterville-type gold mineralization.

The mineralization has been defined over a 500 m strike length and a 200 m vertical height and remains open, with high-grade drill results including 5.10 m of 124.20 g/t Au (as in MH-18-39).

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

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 Minerals personnel. Samples, including duplicates, blanks and standards, were submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold analysis. Eastern Analytical is an accredited assay lab that conforms to 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 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. In addition, random duplicates of selected samples are analyzed in addition to the in-house standard and duplicate policies of Eastern Analytical.

About Sokoman Minerals Corp.

Sokoman Minerals Corp. is a discovery-oriented company with projects in Newfoundland & Labrador, Canada. The Company's primary focus is its portfolio of gold projects (Moosehead, Crippleback Lake and East Alder) in Central Newfoundland on the structural corridor hosting Marathon Gold's Valentine Lake project. Valentine Lake is reported to host estimated Proven and Probable Mineral Reserves of 1.87 Moz (41.05 Mt at 1.41 g/t Au), and Total Measured and Indicated Mineral Resources (inclusive of the Mineral Reserves) of 3.09 Moz (54.9 Mt at 1.75 g/t Au). Additional Inferred Mineral Resources are 0.96 Moz (16.77 Mt at 1.78 g/t Au). Reserves and resource totals for the Valentine Lake Project are taken from the Marathon Gold website, November 16, 2020.

The Company also has a 100% interest in an early-stage antimony/gold project in Newfoundland optioned to White Metal Resources Inc. In Labrador, the Company has a 100% interest in the Iron Horse (Fe) project.

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 financial support of the project through the Junior Exploration Assistance Program. Sokoman has been approved for funding for a portion of 2020 exploration activities.

To learn more, please contact:

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.

Phase 6 Current Table of Results

SOURCE: Sokoman Minerals Corp.



View source version on accesswire.com:
https://www.accesswire.com/617526/Sokoman-Minerals-Cuts-Two-High-Grade-Intervals-at-Eastern-Trend-Moosehead-Project-Central-Newfoundland-46-m-at-472-gt-Au-and-81-m-at-687-gt-Au

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