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Sokoman Minerals Cuts 4.8 m of 33.59 g/t Au at Moosehead Property, Newfoundland

16.04.2019  |  Accesswire

High-Grade Eastern Trend Expanded and Remains Open

ST. JOHN'S, NL / ACCESSWIRE / April 16, 2019 / Sokoman Minerals Corp. (TSX-V: SIC) (OTCQB: SICNF) (the "Company" or "Sokoman") is pleased to announce assay results from Phase 3 diamond drilling at the high-grade Moosehead Gold Project. The recently completed, 21 hole, 4,715 m winter program successfully extended the high-grade Eastern Trend, demonstrated the existence of higher grades in the area, and tested magnetic anomalies northeast of the presently defined Eastern Trend. A portion of the program was completed from the surface of North Pond with the majority of the remaining holes drilled from the eastern side of North Pond.

Program highlights, including a summary of significant results:

  1. MH-19-62 cuts 4.8 m* of 33.59 g/t Au; including 0.90 m* of 124.15 g/t Au starting at a downhole depth of 239.85 m.
  2. MH-19-62 intercept is located 110 m northeast of the MH-18-01 (discovery) intercept.
  3. Strike length of the Eastern Trend shear zone is extended to at least 175 m, remaining open along strike to the north and south, and to depth.
  4. Additional parallel or possibly stacked structures under North Pond require further testing.
  5. Other significant intersections include: MH-19-52 (3.50 m of 11.95 g/t Au, incl. 0.80 m of 36.13 g/t Au); MH-19-63 (4.10 m of 9.94 g/t Au, incl. 0.55 m of 53.25 g/t Au); MH-19-56 (1.85 m of 9.08 g/t Au, incl. 0.45 m of 32.85 g/t Au).

Timothy Froude, P. Geo., President and CEO, states: "These are our best results in terms of expanding the strike length of the high-grade core of the Eastern Trend with additional drilling required to outline these high-grade zones. The winter program has defined the controls of higher-grade mineralization, with the majority of the higher-grade intercepts as trends or shoots spatially associated with a strong northeast trending, moderately east dipping shear zone. We have also intersected high-grade veining up-dip from the main shear zone at shallow depths (32.70 m downhole) in MH-19-55 that returned 0.50 m @ 17.94 g/t Au (core length) suggesting parallel or stacked structures. We need more drilling to better define the Eastern Trend, therefore our Phase 4 summer program will be designed to further test this area, to include a barge-based component on North Pond."

Four holes (MH-19-47, 49, 51 and 54) were drilled to test magnetic targets under the northern portion of North Pond and were successful in cutting sheared and veined units, and while only returning anomalous results, they are mineralized and open along strike and to depth and will receive further drilling in 2019, including testing a soil geochemical anomaly (140 ppb Au) 250 m to the east of North Pond. Two holes (MH-19-43 and 44) were drilled to test historical results from 2003 drilling near South Pond, approximately 500 m to the south of North Pond, with both holes intersecting anomalous values, further drilling contemplated. The Company also plans to expand the magnetic survey to cover the South Pond area to outline possible shear zones that extend from the gold bearing structures under North Pond, based on the new structural findings at Moosehead that resulted in the Eastern Trend discovery. The magnetic survey will also evaluate an area of gold bearing float in the vicinity of South Pond located by previous operators. These boulders lie up-ice from North Pond and are most likely from a source near South Pond not yet discovered.

The intercepts in MH-19-62 and 63, the final two holes of the Phase 3 program, significantly expand the strike length of the Eastern Trend and will be the primary target area for the barge-based program this summer. All data, including new televiewer data from several Phase 3 holes, is being compiled along with Leapfrog 3-D geological modelling software to complete a 3-D model of the Eastern Trend. The planned Phase 4 drilling will be based on the 3-D model, the magnetic survey results and the geological picture forming based on the logging of the Eastern Trend drilling to date.

Update on the Clarks Brook Property

The Company has also applied for permits to drill in Q2 2019 on the Clarks Brook epithermal gold property located 35 kms to the southeast of Moosehead. This will be a small program, under 2,000 m, testing below previous gold intercepts to see if higher grade mineralization, that often lies deeper in classic epithermal environments, exists. This exploration will be completed before the Phase 4 drilling at Moosehead.

QA/QC

A total of 1,070 saw cut samples, excluding duplicates, blanks and standards, have been submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold and ICP analysis. One half of the saw cut sample was submitted for analysis while the other half was retained. Sample lengths varied from 0.07 m to 1.3 m in core length with an average length of 0.91 m. 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 Minerals Corp.

*True thicknesses from Phase 3 holes are believed to range from 75% to 100% of core length.

Image: https://www.accesswire.com/uploads/04152019SOK1.jpg

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 in Central Newfoundland on the structural corridor hosting the 4.2 million ounce Valentine Lake gold project 150 km to the southwest of the Company's high-grade Moosehead gold project. The Company also has a 100% interest in an early-stage antimony/gold project in Newfoundland recently optioned to White Metal Resources, as well as a 100% interest in the Clark's Brook Gold Property, 35 km southeast of Moosehead. In Labrador, the Company has a 100% interest in the Iron Horse (Fe/U/REE) project.

To learn more, please contact:

Timothy Froude, P. Geo.,
President & CEO

Cathy Hume, Director,
Investor Relations

Website: www.sokomanmineralscorp.com

709-765-1726

416-868-1079 x231

Twitter: @SokomanMinerals

tim@sokomanmineralscorp.com

cathy@chfir.com

Facebook: @SokomanMinerals



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.

Image: https://www.accesswire.com/uploads/04162019SOK22.jpg

Image: https://www.accesswire.com/uploads/04152019SOK33.jpg

SOURCE: Sokoman Minerals Corp.



View source version on accesswire.com:
https://www.accesswire.com/542082/Sokoman-Minerals-Cuts-48-m-of-3359-gt-Au-at-Moosehead-Property-Newfoundland


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