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Sokoman Iron Completes Phase 1 Prospecting Program on Crippleback Gold Project Located in Emerging Valentine North Trend, Central Newfoundland

Donnerstag, 24.11.2016 18:00

Sokoman Iron Completes Phase 1 Prospecting Program on Crippleback Gold Project Located in Emerging Valentine North Trend, Central Newfoundland

Puslinch, Ontario (FSCwire) - Sokoman Iron Corp. TSX-V SIC (the “Company”) is pleased to announce that it has completed a Phase 1 reconnaissance prospecting and geochemical (till and stream silt) surveying on its recently acquired Crippleback Lake Property (see PR dated October 13, 2016) in central Newfoundland, contiguous with, and lying on the same structure as Altius Minerals recently announced Alder Zone, and Jigger gold discoveries. 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 focused on the Rogerson Lake conglomerate and its contact with the Crippleback Lake Quartz Monzonite (CLQM), 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 the Rogerson Lake Conglomerate. 

The Phase 1 program resulted in the collection of a total of 28 till samples, eight stream sediment samples and 37 rock samples from the property focused on the Rogerson Lake conglomerate and the CLQM (the CLQM is considered equivalent to the Valentine Lake Intrusive suite, host to Marathon Gold’s Valentine Lake Au project).  All samples are currently being prepared for shipment for analysis. Rock samples collected included a variety of mineralized bedrock and float samples, including quartz veins and altered intrusive, volcanic, and sedimentary rocks, all of which exhibited varying degrees of sericite/silica/sulphide (mainly pyrite) alteration/mineralization, however, several samples carried disseminated chalcopyrite, galena as well as malachite (copper oxide) staining. Note: Mineralization found on the adjoining Altius Minerals property may not be encountered on the Crippleback Lake property, and recent sampling by Sokoman may or may not return significant gold values.

The rock and stream sediment samples will be shipped to Eastern Analytical Ltd., in Springdale, NL, for Au and 34 element ICP analysis, whereas the till samples will be shipped to Overburden Drilling Management (ODM) in Ottawa for processing including gold grain analysis and a fire assay (+ ICP) analysis at an accredited lab.  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.

”Timothy Froude, P. Geo., Interim CEO states; “We are pleased to have a significant number of samples on the way to the lab from Phase 1.  The amount, and widespread nature of the observed and sampled mineralization is quite positive, and suggests a robust mineralizing system or systems exist on the property. We're looking forward to advancing Crippleback and evaluating other opportunities”.

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 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.

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Source: Sokoman Iron Corp. (TSX Venture:SIC)

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