Sokoman Provides Update - Moosehead Gold Project, Central Newfoundland

Rhea-AI Summary

Sokoman Minerals Corp. provides an update on the Alpha IP Resistivity/Chargeability Survey completed at Moosehead. Multiple anomalies have been identified to both the west and east of the main mineralized trends, indicating high-priority targets for further exploration.

Positive

• Multiple anomalies identified in the Alpha IP Survey could lead to high-priority targets for further exploration. The anomalies correlate well with known mineralized zones, indicating potential for significant mineralization. The company has 19 drill and trenching targets to investigate, with a recommendation for approximately 3,800 meters of diamond drilling.

Negative

• None.

Alpha IP Survey Identifies Multiple Anomalies

ST. JOHN'S, NL / ACCESSWIRE / July 26, 2023 / Sokoman Minerals Corp.(TSXV:SIC)(OTCQB:SICNF) ("Sokoman" or the "Company") is pleased to provide an update on the Alpha IP Resistivity / Chargeability Survey completed at Moosehead earlier this year which has outlined first, second and third-priority anomalies to both the west and east of the main mineralized trends drilled in the central portion of the property. The anomalies will be evaluated with the data merged with earlier geophysical surveys and diamond drill holes to further refine drill targets. The Alpha IP Survey consisted of six Induced Polarization (IP) profiles on the grid laid out based on exploration objectives, geological target size, and terrain conditions with line lengths from 1450 m to 1525 m at 100 m intervals.

The Alpha IP has the potential to see deeper than older IP systems with the results pointing to high-priority targets to the west of, and below, the Western Trend, and a series of second and third-priority targets to the east of the Eastern Trend which may be linked to the 253 Zone initially drilled in 2022. Three figures included in this update show the location of the anomalies in a) a plan view; b) a plan view with mineralized zones; and c) a longitudinal sectional view.

The highest-priority anomalies (green dots) in the center of the surveyed area (Figures 1 and 2), correlate well with the location of the Eastern Trend, 75 Zone, and South Pond Zone mineralization. Figure 3 shows the anomalies on a long section view of the mineralized trends indicating that most of the anomalies on the western and eastern portions have not been tested by drilling. Calculated anomaly depths range from less than 100 m vertical to about 400 m depth.

Tim Froude, President, and CEO of Sokoman, says: "We are quite excited by the potential we see in the anomalies generated by the Alpha IP Survey. The similar character of the cluster of high-priority anomalies in the western part of the survey to those in the centre of the survey is quite intriguing and will obviously be addressed in the next round of drilling or trenching.

In addition to the contractor's recommendations, we have just completed our own internal interpretation of the data and have come up with several targets independent of those outlined by Simcoe Geoscience. In total, we have 19 drill and or trenching targets (depending on depth) to investigate with a recommendation for approximately 3,800 metres of diamond drilling. We intend to begin testing these anomalies in about two weeks once drillers have returned from their regular scheduled break."

Figure 1 - Plan view - Image showing location of Alpha IP Survey with targets shown

Figure 2 - Plan view - Alpha IP targets / mineralized zones at Moosehead

Figure 3 - Longitudinal section showing Alpha IP targets

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.

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, as well as Crippleback Lake; and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, 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 also 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 - 1500 sq. km), making it one of the largest landholders in Newfoundland, in Canada's newest and rapidly emerging gold districts. The Company also retains a 1% NSR interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to Thunder Gold Corp (formerly White Metal Resources Inc.), and in Labrador, the Company has a 100% interest in the Iron Horse (Fe) project which 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 past financial support of the Moosehead Project through the Junior Exploration Assistance Program.

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.

View source version on accesswire.com:
https://www.accesswire.com/770404/Sokoman-Provides-Update--Moosehead-Gold-Project-Central-Newfoundland

FAQ

What is the Alpha IP Resistivity/Chargeability Survey?

The Alpha IP Survey is a geophysical survey that identifies anomalies in the ground that may indicate the presence of mineralization.

What are the findings of the survey?

The survey has identified multiple anomalies to both the west and east of the main mineralized trends. These anomalies correlate well with known mineralized zones and indicate potential for significant mineralization.

What is the next step for Sokoman Minerals Corp.?

The company plans to investigate the identified anomalies through diamond drilling. They have 19 drill and trenching targets and a recommendation for approximately 3,800 meters of diamond drilling.

Who reviewed and approved this news release?

The 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.