Sokoman Announces Additional High-Grade Results from the Moosehead Project, Central Newfoundland

Rhea-AI Summary

Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) announces promising Phase 6 drilling results at its 100%-owned Moosehead Property in Newfoundland. High-grade gold mineralization was found at the Eastern Trend and South Pond Zones. Prospecting revealed visible gold-bearing quartz float with assays of 9.2 and 14.3 g/t Au. The company plans to continue drilling, expecting barge arrival soon. Key drill results include MH-21-191 returning 21.86 g/t Au over 3.60 m. The South Pond Zone has been traced 65 m along strike and remains open for further exploration.

Positive

• High-grade gold mineralization discovered in Phase 6 drilling.
• Drill MH-21-191 returned 21.86 g/t Au over 3.60 m, indicating strong continuity.
• Visible-gold-bearing quartz float samples returned assays of 9.2 and 14.3 g/t Au.
• South Pond Zone traced 65 m along strike, indicating potential for expansion.

Negative

• None.

Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (the “Company” or “Sokoman”) is pleased to announce that ongoing Phase 6 drilling at the 100%-owned Moosehead Property in central Newfoundland has intersected additional high-grade gold mineralization at both the Eastern Trend and South Pond Zones. In addition, prospecting in an area 300 m to the east of North Pond, an area with minimal drilling, has located visible-gold-bearing quartz float returning 9.2 and 14.3 g/t Au from total pulp metallics assays with additional assays pending.

Moosehead Plan Map Phase 6 as of 29 Jun 2021 (Graphic: Business Wire)

Tim Froude, President and CEO of Sokoman, says: “We are extremely pleased with the results from the early stages of this summer exploration program at Moosehead. The discovery of a new high-grade boulder train at the limits of our drilling suggests that other mineralized zones are likely to be found at Moosehead. Our experience to-date with boulders is that they are generally close to the source, given the average thickness of overburden. Drilling will continue and we are expecting the barge to arrive on the property in four-five weeks, permits are pending. Our drill results at the Lower Eastern Trend demonstrate good continuity and grade, and our most recent success in MH-21-191 at 165 m vertical is a great beginning as we infill the down-dip portion of the Eastern Trend. At South Pond, we have extended the near-surface, high-grade mineralization and are working our way to the north towards the Western Trend where this 250 m corridor has had minimal drilling, and we look forward to connecting these zones. Field work has also begun on all three JV projects with Benton Resources, and updates on all of them will be provided in the coming weeks.”

The following table highlights results to date from the ongoing Phase 6 drilling program.

DDH #	Length m	Az.	Dip	Target		From (m)	To (m)	Length m*	Au (g/t)	G x M	Visible Gold
MH-21-191	352.0	281	-45	Eastern Trend		244.05	247.65	3.60	21.86	78.70	Y
					incl	245.85	247.65	1.80	43.47	78.25	Y
MH-21-190	97.0	254	-46	South Pond		34.45	37.00	2.55	22.45	57.25	Y
					incl	34.45	35.00	0.55	103.44	56.89	Y
MH-21-184	151.0	256	-45	South Pond		25.00	26.70	1.70	2.73	4.64
MH-21-179	154.0	285	-90	Eastern Trend		65.50	68.60	3.10	8.60	26.66	Y
					incl	65.50	67.40	1.90	13.80	26.22	Y
MH-21-178	88.0	286	-50	Eastern Trend		30.20	31.30	1.10	4.72	5.20
MH-21-170	198.0	195	-45	Footwall Splay		33.10	35.10	2.00	1.32	2.64
					and	95.60	99.30	3.70	0.95	3.52
					incl	95.60	96.00	0.40	2.75	1.10
MH-21-167	156.0	105	-45	Footwall Splay		9.00	10.20	1.20	2.94	3.57
				hole collared in VG vein	incl	9.00	9.20	0.20	15.84	3.17
						89.40	91.40	2.00	1.82	3.64
MH-21-165**	154.0	106	-40	Footwall Splay		23.00	26.00	3.00	1.07	3.21
						79.70	83.80	4.10	21.61	88.60	Y
					incl	80.70	82.80	2.10	41.39	86.93	Y
MH-21-163**	105.0	105	-45	Footwall Splay		36.70	55.60	18.90	13.09	247.35	Y
					incl	45.00	50.10	5.10	30.83	157.23	Y
					and	53.00	54.40	1.40	60.94	85.32	Y
					and	90.10	92.30	2.20	5.67	12.47
MH-21-150	123.0	255	-45	South Pond		85.75	88.40	2.65	1.85	4.90
* Core lengths - believed to be 70% to 90% of reported lengths.
** Follow-up logging and sampling was completed after priority core was logged and sampled.
Italicized text and figures denote new assays, all others are previously released.

South Pond

The recent drilling has extended the mineralized zones up and down dip. DDH MH-21-190 extended the “high-grade” intersection in MH-21-123 (5 m of 26.87 g/t Au) 11 m up dip, while DDH MH-21-184 extended the new near-surface mineralized zone, discovered in MH-21-152 (3.0 m of 1.82 g/t) 15 m down dip. The style of veining and mineral assemblage (boulangerite, arsenopyrite and sphalerite) in these holes is similar to the “high-grade” zones in MH-21-190. To date, the South Pond Zone has been traced 65 m along strike and from surface to 95 m down dip, remaining open both along strike and down dip.

Footwall Splay / Eastern Trend

Drilling of the Footwall Splay and Upper Eastern Trend reflects infill and step-out results. MH-21-167 collared in a visible-gold-bearing vein returning 2.94 g/t Au over 1.2 m, extending the Footwall Splay 27 m to the south from MH-21-157, which returned 12.39 g/t Au over 3.5 m including 28.57 g/t Au over 1.50 m from 36.3 m downhole. The Footwall Splay currently has a 175 m N-S strike length over a minimum width of 25 m. MH-21-178 tested the Upper Eastern Trend returning 4.72 g/t Au over 1.10 m from 30.20 m downhole, 25 m vertically below surface. Additional drilling will be carried out using a barge-based program on North Pond with the drill contractor modifying the barge to accommodate the drill. Sokoman anticipates starting this program in 4-6 weeks.

The Lower Eastern Trend was tested by MH-21-191, which returned 21.86 g/t Au over 3.60 m including 43.47 g/t Au over 1.80 m at a downhole depth of 244 m, a 9 m step-out from MH-16-62, which returned 22.35 g/t Au over 7.20 m including 33.59 g/t Au over 4.80 m.

Holes MH-21-163 and 165 both report shoulder and infill sampling, which enhances previously released results, including additional zones of mineralization.

High-Grade Boulders

Prospecting in the fall of 2020 discovered a cluster of angular quartz boulders 300 m to the east of North Pond with trace pyrite and arsenopyrite assaying <1 g/t Au. Recent follow-up prospecting, taking advantage of low water levels, located quartz boulders 20 m ESE of the original cluster. The new boulders carry arsenopyrite and lesser boulangerite and sphalerite, with multiple sights of fine visible gold. Two samples submitted for total pulp metallics and gravimetric finish analysis gave 14.81 g/t Au and 9.36 g/t Au. Prospecting along nearby brooks has located similar mineralized boulders with visible gold 250 m to the northeast, assays are pending. The boulders occur along a prominent northeast-trending structural lineament in the east-central portion of the property coinciding with strong linear magnetic and possibly associated VLF-EM anomalies. Three widely-spaced drill holes, completed earlier this year in the general area, did not adequately test this near-surface target. Additional drilling is planned.

Footwall Splay/Eastern Trend Main Zone

Drill Hole		From (m)	To (m)	Length (m)	Au (g/t)	Gram Metres
MH-18-01		109.00	120.90	11.90	44.96	535.02
	and	157.65	166.60	8.95	4.20	37.59
MH-18-17		79.80	82.10	2.30	79.23	182.23
	and	133.05	157.95	24.90	33.56	835.64
MH-18-39		75.45	84.50	9.05	70.29	636.12
MH-19-52		91.00	94.50	3.50	11.95	41.83
MH-19-62		237.45	244.65	7.20	22.35	160.92
MH-19-63		111.50	115.60	4.10	9.94	40.75
MH-19-68		83.60	95.40	11.80	6.61	78.00
MH-19-81		262.80	269.20	6.40	17.34	110.98
MH-20-82		206.50	216.00	9.50	5.70	54.15
MH-20-86		271.30	276.50	5.20	16.85	87.60
MH-20-92		142.50	145.50	3.00	7.85	23.55
MH-20-115		64.00	68.60	4.60	47.20	217.12
	and	111.20	119.30	8.10	68.25	552.83
MH-20-116		54.50	56.30	1.80	11.85	21.33
	and	182.70	188.10	5.40	2.76	14.90
MH-20-132		70.50	74.50	4.00	24.92	99.67
	and	96.90	119.00	22.10	1.65	36.47
Previously released uncut drilling results. Lengths are core lengths and believed to be 70-90% true thickness.

About the 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. At least five zones of significant gold-bearing mineralization have been identified to-date at Moosehead and multiple high-priority targets independent of the known zones remain to be tested. The Company has completed approximately 18,000 m of a 50,000 m drill program at Moosehead.

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 and Labrador 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 being 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. 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 Newfoundland and Labrador, Canada. The Company's primary focus is its portfolio of gold projects: flagship Moosehead, Crippleback Lake (optioned to Trans Canada Gold Corp.) and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project in northwestern Newfoundland, which is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland, and Cononish in Scotland. The Company also recently 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 now controls independently and through the Benton alliance over 150,000 hectares (>6,000 claims – 1,500 sq. km), making it one of the largest landholders in Newfoundland, Canada’s newest and rapidly-emerging gold districts. The Company also retains an interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to White Metal Resources Inc., and in Labrador, the Company has a 100% interest in the Iron Horse (Fe) project that has Direct Shipping Ore (DSO) potential.

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 Moosehead Project through the Junior Exploration Assistance Program.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210706005216/en/

FAQ

What are the latest drilling results from Sokoman Minerals Corp. (SICNF)?

The latest drilling results indicate high-grade gold mineralization, with MH-21-191 returning 21.86 g/t Au over 3.60 m.

What assays were reported from the Moosehead Property in Newfoundland?

Assays reported include visible-gold-bearing quartz float samples with results of 9.2 g/t and 14.3 g/t Au.

How has the South Pond Zone been characterized in the recent drilling?

The South Pond Zone has been traced 65 m along strike and shows potential for further mineralization.

What does the prospecting reveal about high-grade boulders at Moosehead?

Recent prospecting located quartz boulders bearing multiple visible gold sightings, suggesting proximity to mineralized zones.

When is further drilling planned for Sokoman Minerals Corp. (SICNF)?

Further drilling is planned as the company awaits the arrival of a barge and anticipates starting in 4-6 weeks.