Sokoman Minerals Completes Phase 1 Diamond Drilling Program Fleur de Lys Gold Project, NW Newfoundland

Rhea-AI Summary

Sokoman Minerals (TSXV:SIC)(OTCQB:SICNF) has completed its Phase 1 drill program at the Fleur de Lys Project in NW Newfoundland, executing 23 drill holes across an 8 km² section of the 329 km² project area. Twelve drill holes, including three holes on Noranda targets, successfully intersected gold mineralization (>200 ppb). The final hole (FDL-24-23) revealed five separate gold-bearing veins, indicating a promising new exploration direction.

While the source of the high-grade Golden Bull gold-mineralized boulder field remains unidentified, the company plans to conduct further exploration in 2025, including prospecting, mapping, geophysics, trenching, and a Phase 2 drilling program.

Positive

• 50% of drill holes successfully intersected gold-bearing structures
• Final hole FDL-24-23 discovered five separate gold-bearing veins
• Company owns 100% of the large 329 km² project area

Negative

• Source of high-grade Golden Bull gold-mineralized boulder field remains unlocated
• Initial drilling covered only 8 km² of the total 329 km² project area

More than 50% of the holes intersected mineralized structures

ST. JOHN'S, NL / ACCESSWIRE / December 24, 2024 / Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) ("Sokoman" or the "Company") reports that the Phase 1 drill program at the 100%-owned Fleur de Lys Project, has been completed in 23 drill holes. Twenty reconnaissance drill holes evaluated high-priority geochemical and/or geophysical targets, including seven holes in the immediate vicinity of the gold-bearing Golden Bull boulders. Three others (FDL-24-9,10, and 17) tested showings discovered by Noranda in the late 1980s.

All preliminary* assays have been received and compiled. See the table below. Twelve drill holes, including the three holes on the Noranda targets, intersected gold mineralization (>200 ppb). Exploration, including prospecting, mapping, geophysics, trenching, and a Phase 2 drilling program, is planned for 2025 to locate the source of the large, mineralized boulders.

*Some samples require metallics assaying based on >1000 ppb Au initial assay. The additional analysis will not affect the reported highlight results.

Timothy Froude, P. Geo., President and CEO of Sokoman Minerals, states, "Our inaugural drill program was conducted on an 8 km² section of the 329 km² Fleur de Lys Project. It returned many promising results, with 50% of the drill holes intersecting gold-bearing structures. The final and most northerly hole (FDL-24-23) intersected five separate gold-bearing veins, which indicates a new direction for further exploration.

We are highly encouraged by our progress, even though we have yet to pinpoint the source of the high-grade Golden Bull gold-mineralized boulder field. We will be interpreting the information collected to date as well as future geophysical surveys to further define the mineralized structures before planning a Phase 2 drill program."

Map 1: Drilling Overview

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. is a discovery-oriented company and one of the largest landholders in the province of Newfoundland and Labrador, Canada's emerging gold district. The Company's primary focus is its portfolio of gold projects; the 100%-owned flagship, advanced-stage Moosehead, Crippleback Lake, and the district-scale Fleur de Lys project near Baie Verte in northwestern Newfoundland, targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland. The Company entered a strategic alliance with Benton Resources Inc. through three, large-scale, joint-venture properties including Grey River, Golden Hope, and Kepenkeck in Newfoundland.

In October 2023, Sokoman and Benton completed an agreement with Piedmont Lithium Inc., a major developer of lithium projects and processing plants in the USA, and exactly the right partner to have to advance the lithium project. For full details of the agreement please refer to the Company's press release dated October 11, 2023.

Projects optioned with optionee fully vested are:

• East Alder Project optioned to Canterra Minerals Inc. (SIC retains shares of CTM plus 1% NSR)

• Startrek Project optioned to Thunder Gold (SIC retains 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
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 the original press release on accesswire.com

FAQ

What were the key results of Sokoman's (SICNF) Phase 1 drilling at Fleur de Lys?

The Phase 1 drilling program completed 23 holes, with 12 holes intersecting gold mineralization above 200 ppb. The final hole (FDL-24-23) revealed five separate gold-bearing veins.

What is the size of Sokoman's (SICNF) Fleur de Lys Project?

The Fleur de Lys Project covers 329 square kilometers, of which only 8 square kilometers were explored in the Phase 1 drilling program.

What are Sokoman's (SICNF) exploration plans for Fleur de Lys in 2025?

Sokoman plans to conduct prospecting, mapping, geophysics, trenching, and a Phase 2 drilling program in 2025 to continue exploration and locate the source of the mineralized boulders.

How many drill holes in SICNF's Phase 1 program intersected gold mineralization?

Twelve drill holes, including three holes on Noranda targets, intersected gold mineralization exceeding 200 ppb.