Sokoman Minerals Provides Project Update, Moosehead Gold Project, Central Newfoundland
Channel sample results received / 1,500 m drilling program initiated at the Western Trend.ST. JOHN'S, Nov. 27, 2024 - Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) ("Sokoman" or the "Company") is pleased to announce that a minimum 1,500 m diamond drill program has begun to test the Western Trend gold zone based on information gained in the trenching program. Drilling will consist of 20 to 30 diamond drill holes testing along strike / down dip of the newly discovered, east-west trending, gold-bearing vein network exposed in the Western Trend trench, a splay off of the main, north-trending vein system similar to the Footwall Splay trend off of the main Eastern Trend. The trenching was initiated as a first step towards a conventional (drill and blast) bulk sample from the Western Trend.
The Company also reports the results for the remaining channel samples from the Western Trend trench and preliminary results for the metallurgical samples from Base Met Labs in Kamloops, B.C., for scoping-level, metallurgical testing of the Western Trend gold mineralization.
Timothy Froude, P.Geo., President and CEO, states, "We are excited about the next few months at Moosehead, as we will not only be receiving the first metallurgical test results for the property, we are also beginning a drilling program based on the results of the trenching program at the Western Trend, the first step towards a bulk sample at Moosehead. All three programs are intertwined since the drilling will influence the bulk sample extraction, and the metallurgical work will strongly influence how and possibly where the sample is processed. The final assay results for channel samples in the Western Trend trench confirm the significance of the newly recognized East-West trend of high-grade mineralization, justifying the 1,500 m drill program. Dr. Coller's recent visit to the property, focused on the Western Trend trench exposure, will help him determine the structural setting at Moosehead and ultimately lead to recommendations for deep drilling at Moosehead."
Western Trend Channel Sample Results
The remaining channel sample results, 21 samples from channels 8 to 15, from the Western Trend trench (see channel sample location map) confirm that an east-west trending, high-grade vein system (the East-West Splay) occurs in the Western Trend. It is highlighted by channel #8, which returned 8.10 m of 7.09 g/t Au, including 3.20 m of 14.29 g/t Au. A total of 41.2 m, representing 57 separate samples, ranging from 0.15 to 1.10 m (with a median length of 0.73 m), returned an average weighted grade of 5.79 g/t Au with all samples analyzed by total pulp metallic assaying at Eastern Analytical Ltd. in Springdale, NL.
Western Trend Diamond Drilling
Based on observations from the Western Trend trench, a minimum 1,500 m diamond drill program is planned to extend the main vein trend and the newly recognized East-West Splay by up to 200 m along strike and 80 m vertically. To date, four drill holes have been completed with all intersecting visible gold-bearing quartz vein zones. The program is expected to continue to the Christmas Break, on or about December 19, 2024. All analyses are pending.
Bulk Sampling
The proposed 1,000 m3 (approximately 2,700 tonnes) conventional bulk sample from the Western Trend trench area is in the permitting stage. It will await the metallurgical testing results on the 242 kg sample (split between the three types of mineralization) at Base Met Labs in Kamloops, B.C., and the results of the diamond drill program. The Company is in discussion with several groups regarding bulk sample processing. Also, the Company expects a report on progress on the Footwall Splay bulk sample from Novamera Inc. later this quarter, including plans for the next stage of the bulk sample program.
Metallurgical Testing
The 242 kg metallurgical sample (split between the three types of mineralization) is being tested at Base Met Labs in Kamloops, B.C. The first stage work involved establishing the head grade for all three samples, with the results summarized below:
| - 58.8 g/t Au grade | |
| - 0.84 g/t Au grade | |
| - 2.46 g/t Au grade |
Other studies, including gravity recoveries, leaching, etc., are ongoing and expected before year end.
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, which 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:
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East Alder Project optioned to Canterra Minerals Inc (SIC retains 850,000 shares of CTM plus 1% NSR)
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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.
For more information, please contact:
Timothy Froude, P.Geo., President & CEO
T: 709-765-1726
E: tim@sokomanmineralscorp.com
Cathy Hume, VP Corporate Development, Director
T: 416-868-1079 x 251
E: cathy@chfir.com
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 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.
SOURCE: Sokoman Minerals Corp.