ST. JOHN'S, NL / ACCESSWIRE / September 26, 2024 / Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) ("Sokoman" or the "Company") is pleased to provide the following updates from the 100%-owned Moosehead Gold Project in central Newfoundland. The current focus at Moosehead is on plans to extract bulk samples. The first sample is a conventional bulk sample on the Western Trend using drill and blast methods (see Plan Map 1 for proposed locations). The second bulk sample is with Novamera Inc. at the Footwall Splay in the Eastern Trend, utilizing Novamera's proprietary surgical mining technique. Due to lengthy lab turnaround times, the Company is waiting for the gold assay results from 28 holes.
Timothy Froude, P. Geo., President and CEO, states, "We are thrilled with the advances we've made on both bulk-sample projects and eagerly anticipate the completion of the Western Trend bulk sample this year. The exposed quartz veining is reminiscent of some of the best drill holes on the Moosehead property. This pivotal step will yield critical insights into the metallurgy and gold recoveries at Moosehead, marking a significant milestone in our project's development."
Conventional Bulk Sample - Western Trend
Three areas (labelled A, B and C on Plan Map 2) within the Western Trend were drill tested with a series of short holes to determine the best location to extract a conventional bulk sample of 1,000 cubic metres (approximately 2,700 tonnes). Area C (see Plan Map 2) was chosen, and the excavation is underway. A zone of quartz veining with associated altered and mineralized mafic dyke has been exposed in the center of the trench (see Image 1), which is believed to be linked to a 1.5 m wide quartz vein intersected in drill hole MH-24-618, which contained 25 specks of visible gold. MH-24-618 is located approximately 10 m south of the end of the exposed vein. The trench has yet to be fully excavated, with mapping and sampling to commence immediately upon completion. Preliminary examination of the exposed quartz veining has identified locally abundant boulangerite and arsenopyrite mineralization with random specks of visible gold noted in multiple locations. The final layout of the bulk sample dimensions will be completed in about two weeks once all sampling of the exposed mineralization has been done. All assays are pending.
Novamera Partnered Bulk Sample - Footwall Splay
To date, two sets of historical and Novamera drilled holes, six in total, have been surveyed by Novamera in the Footwall Splay area, and final modelling is ongoing. The objective is to define a similar-sized area to the conventional bulk sample to be extracted utilizing Novamera's surgical mining technique. Meanwhile, the Company has been informed by Novamera that the rig that will be taking the potential sample is under contract until June 2025, at which time it will be available for Sokoman's program. It is the Company's intention to use leftover material from the conventional bulk sample as ballast for the Novamera rig, saving time and cost on that program. The Company will provide further updates from Novamera as they become available.
Plan Map 1: Proposed bulk-sample areas
Image 1: Western Trend trench with exposed quartz veining
Plan Map 2: Recent drilling and test sites for Western Trend bulk sample (A, B, C)
Diamond Drilling
Recent diamond drilling has focused on outlining an area suitable for a conventional (drill and blast) bulk sample in the Western Trend. Three areas were tested with a series of short holes; to date, all assays are outstanding. The Company also anticipates results from recent drillings at the 552 Zone and several reconnaissance holes north of the Eastern Trend. Currently, gold assay turnaround times exceed six weeks, with full and partial (metallics) results pending for 28 holes shown on the drill hole plan (see Plan Map 2). Diamond-drilling operations are on hold, pending guidance from Novamera and insights from Dr. David Coller's structural report for the deep-drilling program. Dr. Coller is producing a project-scale and regional-scale structural model on which to base a deeper drilling program at Moosehead. He is integrating regional structural data from the Valentine Lake and Queensway mineralized trends and areas northeast of Moosehead, recognizing its position within a larger, complex structural domain that extends beyond our property borders. This comprehensive understanding of the regional structural history is crucial for interpreting Moosehead's structural context. We anticipate Dr. Coller's final report by late Q4 2024 or early Q1 2025.
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 and one of the largest landholders in the province of Newfoundland and Labrador, Canada's emerging gold district. 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, targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland. The Company entered a strategic alliance with Benton Resources Inc. through three, large-scale, joint-venture properties including Grey River, Golden Hope, and Kepenkeck in Newfoundland.
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. For full details of the agreement please refer to the Company's press release dated October 11, 2023.
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)
For more information, please contact:
Timothy Froude, P.Geo., President & CEO T: 709-765-1726 E: [email protected]
Cathy Hume, VP Corporate Development, Director T: 416-868-1079 x 251 E: [email protected]
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.
