Western Trend trench channel samples - 22.45 g/t Au / 4.05 m incl. 35.93 g/t Au / 3.00 m
ST. JOHN'S, NL / ACCESSWIRE / October 31, 2024 / Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) ("Sokoman" or the "Company") provides the following update on the exploration of the 100%-owned Moosehead Gold Project. The current focus is on the Western Trend conventional bulk sample where trenching has exposed the quartz mineralized zone with 50% of mapping and channel sampling completed. A 150 kg sample, 50 kg of each of the three gold-bearing rock types, has been taken and sent to Base Met Labs in Kamloops, B.C., for scoping-level, metallurgical testing of the Moosehead Gold Project gold mineralization. Results are expected in late Q4 2024 or Q1 2025.
Timothy Froude, P.Geo., President and CEO states; "There's a lot going on at the project presently, in a series of positive, forward-looking steps, including preparing for the first of two bulk samples, early-stage metallurgical work, additional structural mapping by consultant Dr. David Coller, and planning additional diamond drilling on the Western Trend, based on new information gained through the trenching. For the first time, trenching allows us to see in the outcrop the relationships between the high-grade, gold-bearing quartz veins and the host rocks. Dr. Coller will examine the exposed Western Trend high-grade mineralization and its structural setting for a week, comparing it with the other high-grade gold zones on the Moosehead property. Dr. Coller's observations will undoubtedly help him formulate his theories on mineralization and where high-grade mineralization may lie at depth. The trenching has also exposed previously unknown gold-bearing veins that trend towards areas with little to no previous drilling, as a result, additional drilling is being planned."
Conventional Bulk Sample - Western Trend
Channel sample results from the Western Trend trench are highlighted by multiple high-grade assays including channel #4 which returned a weighted average of 22.64 g/t Au / 4.85 m including 35.93 g/t Au / 3.00 m (assay summaries are shown in Table 1). The trench covers an area approximately 35 m along strike by 20 m across strike, which has been washed, with approximately 50% mapped and channel sampled. Recent stripping has uncovered veining, with specks of VG, trending to the north and south, to areas with little to no drilling and additional drilling is being planned to define these veins in the next week to 10 days. A total of 36 saw-cut channel samples were analyzed at Eastern Analytical Ltd. in Springdale, NL, with 16 selected for metallic pulp assaying (Table 2), based on the quartz host. Eleven of the 16 metallics assays gave values from >50 g/t Au to 2,090 g/t Au from the coarse (+150 mesh) fraction, suggesting coarse visible gold (VG).Sampling continues as the trench has been expanded since the first channel samples were taken. The Company has submitted the bulk-sample permit application.
A 2001 Altius vertical drill hole (MH-01-21), is located between trench channel samples 3 and 4 near the western edge of the main quartz zone (see channel sample location map). It collared in and cut, 3.19 m of quartz with five samples grading from 0.27 g/t Au / 0.60 m to 8.98 g/t Au / 0.60 m (averaging 2.82 g/t Au / 3.19 m). Channel samples 3 and 4 averaged 4.54 g/t Au / 4.05 m, and 22.64 g/t Au / 4.85 m, including 6.59 g/t Au / 2.55 m and 35.93 g/t Au / 3.00 m respectively from the quartz vein portions. The lower grades in the Altius drill hole possibly reflect the impact of the nugget effect on a drill intercept with smaller drill core. Sokoman drill hole MH-24-618 undercuts the trench approximately 10 m to the south of the southern limit of the exposed quartz vein giving 8.18 g/t Au / 1.80 m in a quartz vein at a downhole depth of 14.70 m suggesting a southern continuation of the exposed vein. As per the most recent press release on Moosehead, the Company is expecting an update report on progress on the Footwall Splay bulk sample from Novamera Inc. later this quarter, which will include plans for the next stage of the program.
Channel Sample Location Map
Table 1: Western Trend Trench Channel Samples
Table 2: Metallic assaying results from Eastern Analytical Ltd - all samples returning assaying > 50,000 ppb Au (50 g/t) in the coarse (+150 mesh fraction) are highlighted (Eastern Analytical Ltd.)
Diamond Drilling
Results from recent drilling at the 552 Zone (12 holes), and recon holes (5 holes) from an area 750 m north of North Pond (Bowtie Pond - see Plan) have been received. All five recon holes (MH-24-594 to 598) gave insignificant results while the 12 holes in the 552 Zone area gave mixed results including seven holes with insignificant values. The zone remains open down dip as shown by a 6.63 m intercept in MH-24-601 averaging 0.75 g/t Au at 243.70 m downhole and the other four holes gave values over 0.30 to 1.00 m, up to 1.50 g/t Au.
Diamond drilling, focused on the Western Trend, will resume immediately, with deep-drilling planning awaiting the final structural report from Dr. Coller, expected in H1 2025.
Plan of recent drilling and test sites for Western Trend Bulk Sample (A,B,C)
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 being 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%-owned flagship, advanced-stage Moosehead, Crippleback Lake, 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 Newfoundland. Sokoman is 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.
Projects optioned with optionee fully vested:
East Alder Project optioned to Canterra Minerals Inc (SIC retains 850,000 shares of CTM plus 1% NSR)
Startrek Project optioned to Thunder Gold (SIC retains 1,750,000 shares of TGOL plus 1% NSR)
The Company would like to thank the Government of Newfoundland and Labrador for the financial support of the Moosehead and Fleur de Lys Projects through the Junior Exploration Assistance Program over the past few years.
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.
