Sokoman Confirms New Discovery at South Pond and Additional High-Grade Intercepts at Footwall Splay, Moosehead Project, Central Newfoundland

Rhea-AI Summary

Sokoman Minerals Corp. (TSX-V: SIC) (OTCQB: SICNF) has announced promising results from ongoing Phase 6 drilling at its Moosehead Property. Significant high-grade gold mineralization was detected at the Footwall Splay and South Pond Zones, including notable drill results such as 3.50 m of 12.39 g/t Au and 11.60 m of 21.07 g/t Au. A new mineralized structure was also discovered at South Pond. The company plans a barge-based drill program to further explore these areas. Drilling is temporarily suspended but expected to resume in mid-to-late May 2021.

Positive

• Discovery of high-grade gold mineralization at multiple drill sites including 3.50 m of 12.39 g/t Au.
• New mineralized structure identified at South Pond, indicating expansion potential.
• Plans for a barge-based drill program to test promising areas, enhancing exploration capabilities.

Negative

• None.

Sokoman Minerals Corp. (TSX-V: SIC) (OTCQB: SICNF) (the “Company” or “Sokoman”) is pleased to announce that ongoing Phase 6 drilling at the 100%-owned Moosehead Property has intersected additional near-surface, high-grade gold mineralization at the Footwall Splay and South Pond Zones, as well as discovered a new, near-surface, mineralized structure at South Pond. Visible gold-bearing quartz veins were intersected in eight recently completed drill holes at the Footwall Splay, including the following three holes.

Moosehead Map - Current Phase 6 Drilling Program (Photo: Business Wire)

Footwall Splay

MH-21-157 – 3.50 m of 12.39 g/t Au, including 1.50 m of 28.57 g/t Au from 36.30 m downhole;
MH-21-163 – 11.60 m of 21.07 g/t Au, including 5.10 m of 30.82 g/t Au from 44.0 m downhole;
MH-21-166 – 5.10 m of 15.51 g/t Au, including 2.80 m of 27.68 g/t Au from 9.00 m downhole, (MH-21-166 collared in a visible gold-bearing quartz vein)

South Pond

MH-21-147 – 3.05 m of 16.54 g/t Au, including 0.85 m at 58.91 g/t Au from 72.40 m downhole

New zone has been intersected in drill holes MH-21-152 and 153 - assays are pending.

Tim Froude, President and CEO of Sokoman, says:

“Phase 6 is turning out to be one of best programs to date as we continue to make new discoveries while expanding the known zones at Moosehead with the Footwall Splay and South Pond Zones both showing high-grade, and near-surface results. MH-21-163 and 166 are 25 m and 40 m step-outs to the south of the previously reported MH-21-115 which cut both the Footwall Splay and the Main Eastern Trend, returning 4.60 m of 47.20 g/t Au and 8.10 m of 68.25 g/t Au respectively. MH-21-166, the southern-most hole in the Footwall Splay, collared in visible gold-bearing quartz veining, and the zone remains open to the south.”

Froude continues, “During the final two weeks of drilling, we focused both drills at the Footwall Splay to take advantage of the last of the “winter” ground conditions and we are very pleased with the results. It is still early days for these zones, but we see multiple mineralized structures emerging in the South Pond area. A barge-based drill program is required to test the intersection of the Footwall Splay and the Main Eastern Trend, a structural setting that could represent a scenario similar to the high-grade Eagle/Swan Zone at the Fosterville Mine in Australia. Permitting is underway for the barge-based drill program which is expected to start later this summer and where our fourth drill will focus. Drilling has been temporarily suspended and is expected to resume in mid-to-late May with two drills onsite, and a third drill expected in early June.”

Footwall Splay/Eastern Trend Main Zone

The Footwall Splay is a north-south striking, shallow east-dipping zone that lies less than 50 m vertically below surface that appears to be an offshoot of the Eastern Trend Main Zone. At Fosterville, offsets or splays off the main structures such as the Swan Zone carry high-grade gold mineralization. The Footwall Splay has been intersected in at least 14 holes over a minimum strike length of 130 m, up to 25 m in width, and at least 2.5 m in thickness, and remains open. A barge-based program will be most effective to test these targets and permitting is in progress to facilitate the program. The following table summarizes previously-released, selected intercepts from the Footwall Splay and adjacent Eastern Trend Main Zone area.

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	54.19
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.

South Pond Zone

The recently completed drill program at South Pond has expanded the strike length to 125 m, the depth to 80 m (from surface), and the width to at least 3 m, with the zone remaining open along strike and to depth. Drill hole MH-21-147, reported in this release, cut 3.05 m of 16.54 g/t Au and further builds on this expanding zone. The recent drilling has also revealed a new, near-surface, mineralized structure that has been intersected in at least two holes, MH-21-152 and 153 (assays pending), the most easterly and southerly holes drilled, leaving the zone open for expansion. This structure is similar to the South Pond Zone with host units, variably deformed sediments, with locally-intense quartz veining carrying 1%-5% disseminated pyrite, arsenopyrite, sphalerite and boulangerite as accessory sulphides. Modelling is underway to determine the orientation of this new discovery that will be further tested once drilling resumes.

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 is currently in the midst of a 50,000 m drill program utilizing up to four drill rigs.

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 Canadian 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 personnel. Samples, including duplicates, blanks and standards, were submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold analysis. Eastern Analytical Ltd. 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 is 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 & Labrador, Canada. The Company's primary focus is on its portfolio of gold projects: Moosehead, Crippleback Lake and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the recently-acquired 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. Sokoman controls one of the largest land holdings in Newfoundland, Canada’s newest and rapidly-emerging gold district, with over 50,000 hectares (250 km2) of highly-prospective ground. 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 h

FAQ

What are the recent drilling results for Sokoman Minerals Corp. (SICNF) at the Moosehead Property?

Recent drilling at the Moosehead Property revealed high-grade gold mineralization with significant intersections including up to 21.07 g/t Au.

When is drilling expected to resume for Sokoman Minerals Corp. (SICNF)?

Drilling is expected to resume in mid-to-late May 2021 after a temporary suspension.

What new discoveries were made by Sokoman Minerals Corp. (SICNF) during the Phase 6 drilling?

A new, near-surface mineralized structure was discovered at South Pond, expanding exploration potential.

What is the significance of the Footwall Splay for Sokoman Minerals Corp. (SICNF)?

The Footwall Splay has shown consistent high-grade gold results and remains open for further exploration.