Puslinch, Ontario (FSCwire) - Sokoman Iron Corp., TSX-V SIC (the “Company”) is pleased to provide shareholders with an exploration outlook for the first half of 2018 on its portfolio of gold projects in Central Newfoundland.
The Clarks Brook Project will be the subject of a Phase 2 reconnaissance diamond drilling program, expected to start in 2 to 3 weeks. The program will focus on the coincidental magnetic and IP targets that host the known mineralization on the property, and where Phase 1 drilling in October 2017, confirmed the presence of locally robust gold mineralization in the first ever holes drilled on the property (SIC NR - December 22, 2017). Selected assays from hole CB-17-2 are as follows; 3.37 g/t Au/3.00 m (127.75m – 130.75m), including 4.63 g/t Au/1.65 m (127.75m – 129.40m), and 26.9 g/t Au/0.25 m (127.75m – 128.00m). The Phase 2 program will consist of approximately 500 meters of drilling in three or four holes and will test the strike extent of the zone, as well as possible parallel structures hosting mineralization. Additional holes and meterage will be added if results warrant.
The Company is currently in the process of generating a NI 43-101 Technical Report on the Moosehead property as a condition for approval of the proposed option agreement between Sokoman Iron Corp. and Altius Resources Inc., whereby Sokoman intends to earn a 100% interest, (subject to underlying royalty agreements) in the Moosehead property (SIC NR - November 9, 2017). The report was requested by the TSX Venture Exchange, and should be complete within 30 days. After approval has been granted, Sokoman intends to have all data compiled and modeled by the end of Q1 2018 to aid in drill planning. Pending receipt of all work and related permits, which the company will apply for once approval has been granted, the company expects Phase 1 drilling to commence in late spring 2018. The 2018 program will test a new (2016) structural interpretation of the mineralization which concluded that a most previous drilling may not have been oriented to optimally test the mineralization. In addition, the company plans to investigate recently defined soil anomalies outlined by Altius Resources in 2015 and which lie north and east of the known extent of mineralization.
The Moosehead project, is host to locally significant gold mineralization including diamond drill intercepts* highlighted by; MH-01-13 which returned 11.05 g/t gold over 17.11m from 38.00m downhole, and MH-02-38 which returned 14.07 g/t gold over 16.84m from 74.38m downhole (Altius Minerals Corp…