ST. JOHN'S, NL / ACCESSWIRE / August 22, 2024 / Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) ("Sokoman" or the "Company") is pleased to announce that a diamond drill rig has been mobilized to the Fleur de Lys Property, with drilling to commence immediately. The 2,000-m, Phase 1 program will test historical showings and targets generated by Sokoman's 2021-2024 till / prospecting programs, including the Golden Bull prospect discovered in 2023.
The program is planned for 20 holes at an average depth of 100 m, with drilling beginning at the southern end of the area to test targets identified, but not tested, by Noranda in the 1980s and ending at the Golden Bull area in the central portion of the six to eight km2 target area with approximately 50% of the program planned for Golden Bull.
Timothy Froude, P.Geo., President and CEO of Sokoman Minerals states; "We are very pleased to start our maiden drill program at Fleur de Lys. We have systematically explored the property during the past three years, targeting world-class, Dalradian-type, orogenic gold mineralization in a similar geological environment in Northern Ireland and the United Kingdom. The Curraghinalt deposit in Northern Ireland, hosting more than six million ounces of gold, is currently one of the largest undeveloped gold deposits in the Caledonian-Appalachian Orogen. The program will test at least five distinct target areas highlighted by the Golden Bull Prospect, including targets not tested by Noranda in the late 1980s. Regional exploration will continue to define till and rock sample anomalies to generate more drill targets."
The six to eight km2 target area includes several discrete targets highlighted by the Golden Bull Prospect, which is defined by 124 grab samples, with visible gold noted, and with 34 values >500 ppb Au to a maximum of 9,020 ppb (9.02 g/t) Au, in laterally extensive stylolitic quartz float consisting of angular to sub-angular boulders. Approximately 50% of the grab samples from the broader Golden Bull target area have given values >100 ppb Au, suggesting the potential for additional, undiscovered gold zones.
Drilling will be conducted by Springdale Forest Resources based in Springdale, NL, utilizing a Duralite tracked rig recovering NQ size drill core. The program will run on a day-shift-only basis with a two-man drill crew working a 12-hour shift. Assaying will be done at Eastern Analytical Ltd., in Springdale, approximately 90 km by Provincial highways from the Fleur de Lys property.
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. Eastern Analytical Ltd. is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples are delivered in sealed bags directly to the lab by Sokoman personnel. All samples of quartz vein material were submitted for total pulp metallics and gravimetric finish. Total pulp metallic analysis includes: the whole sample is 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., based in Newfoundland and Labrador, Canada, focuses primarily on its gold projects, including the wholly-owned Moosehead, Crippleback Lake, and the extensive Fleur de Lys project near Baie Verte. This latter project aims to discover Dalradian-type orogenic gold mineralization like the Curraghinalt and Cavanacaw deposits in Northern Ireland. The company has also partnered with Benton Resources Inc. on three large-scale joint ventures: Grey River, Killick Lithium formerly Golden Hope, and Kepenkeck, positioning Sokoman as one of the largest landholders in Canada's emerging gold districts.
In October 2023, Sokoman and Benton entered into an agreement with Piedmont Lithium Inc. to advance the Killick Lithium Project. Under this deal, Piedmont can acquire up to 62.5% of the project by investing up to $12 million in exploration and issuing $10 million in shares over three phases. The project, previously known as Golden Hope, is now part of Killick Lithium Inc., a subsidiary of Vinland Lithium Inc., in which Piedmont has acquired a 19.9% stake for $2 million. Sokoman and Benton maintain operational control during the earn-in phases and retain a 2% NSR royalty on future production. Additionally, Piedmont holds exclusive marketing and first-refusal rights on the lithium concentrates for the life of the mine.
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)
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 during the past few years.
For more information, please contact:
Timothy Froude, P.Geo., President & CEO | Cathy Hume, VP Corporate Development, Director |
T: 709-765-1726 | T: 416-868-1079 x 251 |
E: tim@sokomanmineralscorp.com | 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.
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