Sokoman Iron Corp. has started follow-up prospecting and geochemical (till and stream silt) surveying on its recently acquired Crippleback Lake property (see press release dated Oct. 13, 2016) in central Newfoundland, contiguous with and lying on the same structure as Altius Minerals’ recently announced Alder zone and Jigger gold discovery. The property lies approximately 30 kilometers southwest of the town of Grand Falls – Windsor and is easily accessed by numerous logging roads that directly cross the property. The program will focus on the Rogerson Lake conglomerate which is believed to span the entire 12 kilometer length of the property. A recent 43-101 report filed on Sedar by Altius and Northwest Arm Capital revealed that most of the companies gold zones are hosted within this unit. Sokoman will focus its efforts on follow up of highly anomalous gold identified from Government till sampling and other historical work completed by previous companies adjacent to the Rogerson Lake conglomerate. Mineralization on the Altius property may or may not be indicative of mineralization that may be found on the Sokoman property and Sokoman will release the findings from the program after results are received and compiled. Sokoman will now actively start looking for other attractive opportunities along this important trend to ensure it remains a key player in such a new and exciting gold district.
On September 20, 2016, Altius Minerals announced the discovery of widespread and high grade gold occurrences, including the Alder Zone, northeast of and along the same structural trend hosting Marathon Gold’s Valentine Lake Project, which hosts 1,060,100 oz. gold at 2.20 g/t Measured & Indicated, and 200,000 oz. gold at 2.85 g/t Inferred (April 2015, Marathon Gold Website). Approximately 10,000 new claims have been staked in the area as a result of this announcement.
The discoveries are described by Altius as follows; “Mineralization at the Alder Zone occurs as coarse, free gold in association with chalcopyrite, rare scheelite, and gold-silver telluride, in association with tourmaline bearing quartz veins. One hundred and seven cut channel samples collected to date from outcrop in trenches have yielded uncut gold values ranging up to 13.9 g/t over 4.0 m, 5.4 g/t over 3.6 m, and 49.3 g/t over 4.6 m (including 279 g/t gold over 0.9 m). Several additional gold occurrences in outcrop and float have also been discovered by reconnaissance prospecting along trend up to 3.5 km away from the Alder Zone. Also, two initial grab samples from a recently exposed pyrite-bearing shear zone occurrence named Jigger, located 15.2 km to the northeast, have returned results of 8.4 and 19.7 g/t gold in grab samples.
“Timothy Froude, P. Geo., Interim CEO states; “The Altius discovery reaffirms our belief that the Island of Newfoundland has the potential to host many more significant gold deposits along the Marathon/Cape Ray trend. We’re looking forward to advancing Crippleback and evaluating other opportunities”.
In addition the Company announces the resignation of Evan Chan as a director effective immediately. Sokoman would like to thank Evan for his time spent with the Company and wishes him the best in future endeavours.
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. For further information please contact Timothy Froude at 709-765-1726, or by email at email@example.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.
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