Sokoman Iron Completes Ph.Ii Drilling Clarks Brook Gold Property
SOKOMAN IRON COMPLETES PHASE II DRILLING ON CLARKS BROOK GOLD PROPERTY, CENTRAL NEWFOUNDLAND
Puslinch, Ontario – (February 19, 2018) – Sokoman Iron Corp (Sokoman) (TSX-V: SIC) is pleased to announce that the Phase II drilling program at Clarks Brook has been completed and that core logging and sampling has commenced. The three hole, 594 meter program, was designed to test for additional zones of mineralization along strike and parallel to the mineralization intersected in the first program (completed in October 2017), and to determine whether additional funds should be directed towards this project.
The attached plan highlights the two areas tested with the Phase II drilling. Of particular interest is the magnetic target outlined to the northeast of the Phase I drilling. Phase I drilling suggests that the best mineralization, intersected in holes CB-17-1 and 2, is associated with a strong magnetic low signature (blue colour on the attached plan). This magnetic signature trends northeast of the known mineralization and appears to trend off of the surveyed area, suggesting a minimum distance of 400 meters. The northern property boundary is over 1 kilometer to the northeast, however, no detailed magnetics have been completed over most of this distance and the company is considering, pending results of the Phase II drilling, extending the detailed grid to cover this area with magnetics and possibly Induced Polarization (IP) surveys.
At this point core logging and sampling of the new holes has just commenced, however, a preliminary review of the three holes indicates that silicified and quartz veined intervals with disseminated sulphides has been intersected in all holes, but lengths and significance of these intervals won’t be known until all logging and sampling has been completed. This work is expected to take two weeks and an additional 6 to 8 weeks before assays are received.
In the meantime, the company has been informed that the NI 43-101Form F1 technical report on the Moosehead property has been submitted to the TSX Venture Exchange by the Independent QP and that the Exchange has begun its review of the document and initial comments are expected at any time.
The Clarks Brook prospect consists of a number of large (up to 1-2 m square) angular boulders from which previous operators had returned grab sample gold values ranging from 2.98 to 24.5 g/t gold (Altius Minerals Corp. (ALS) in 2004), and from the property vendor Metals Creek Resources (MEK) in 2016, where thirteen (13) of the large angular blocks were grab sampled and yielded assays ranging from 0.24 g/t to 10.4 g/t gold. In addition, a single outcrop of bedrock mineralization of similar style to that of the boulders, returned a grab sample assay of 19.24 g/t gold. Phase I drilling completed in October 2017 returned assays of 3.37 g/t Au over 3.00 m (from 127.75 – 130.75 m) including 26.9 g/t Au over 0.25 m (from 127.75 – 128.00 m). Note: The historical assay results mentioned in this news release were grab samples which are selective by nature and are unlikely to represent average grades of the property. Drill core intervals from the 2017 program are believed to be
Timothy Froude, P. Geo., Interim CEO states; “The recently completed Phase II program is critical to the future of our involvement with this project. Although only a limited program, the holes are all strategic, and will be instrumental in helping shape our plans moving forward. The preliminary review of the core suggests that all holes encountered variably altered and mineralized sediments, however, we must wait until final results have been received before making a decision on further work at Clarks Brook”.
This news release has been reviewed and approved by Timothy Froude, P. Geo., a “Qualified Person” under National Instrument 43-101 and Interim CEO for Sokoman Iron Corp.
Contact:
Timothy Froude at 709-765-1726, or by email at tfroude@sokomaniron.com
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. The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Iron 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 Iron Corp.
