Sokoman Minerals samples up to 9.02 g/t gold at Fleur de Lys Project, Newfoundland
Sokoman Minerals Corp. [TSXV-SIC; OTCQB-SICNF] provided an update from the 2024 exploration program at the 100%-owned Fleur de Lys project, Newfoundland. An earlier-than-normal melting of snow cover throughout the northern and central portions of the Baie Verte peninsula allowed an early start to the prospecting season.
Since May 1, 2024, the company has collected and received assay results for 89 rock samples from Fleur de Lys. Most samples were collected from the northern portion of the property, where winter logging activities have opened a large area of prospective ground, including several discrete target areas over a six- to eight-km2 area highlighted by the Golden Bull prospect discovered in late 2023.
The total number of samples collected since late 2023 is 124, 34 of which returned gold values greater than 500 parts per billion to a maximum of 9,020 ppb gold (9.02 g/t Au). More than half of all samples collected over the broader Golden Bull target area since 2023 have returned greater than 100 ppb gold, suggesting potential for additional, undiscovered gold zones at Fleur de Lys.
Highlights of the 2024 rock sampling program include 89 samples collected and assayed of quartz vein float and quartz vein bedrock samples; 37 samples returned gold assays greater than 100 ppb gold (0.1 g/t Au); 12 samples returned gold assays greater than 1,000 ppb .
Five samples greater than 1.0 g/t Au were from bedrock grabs. Multiple high-priority drill targets are confirmed for the coming phase 1 drill program, which will focus on the Golden Bull target area; and four other areas will also be drill tested.
Timothy Froude, PGeo, president and CEO, stated: “We are very pleased with the progress we have made at Fleur de Lys this year, and we look forward to the start of our 2,000-metre maiden drill program, pending receipts of all permits hopefully by mid-August. We are currently evaluating the bids from multiple diamond-drilling contractors while we continue to sharpen drill targets based on our 2024 (and 2023) rock sampling programs. We have received all but one of the required permits and expect the final (water-crossing) permit in the coming weeks.
“Most of the initial drilling will be in a two-kilometre-by-1.5-km area defined as the Golden Bull prospect and will consist of multiple 50- to 150-metre-long drill holes. We have also confirmed at least one drill hole will test four other targets undergoing last-minute fine-tuning within a larger six- to eight-square-kilometre area enclosing the main target (Golden Bull) area. In the meantime, we continue work on other till and rock sample anomalies elsewhere on the property as part of the 2024 program to define future drill targets for later this year or early 2025.”
The Golden Bull prospect was identified late in 2023, and assays from 35 rock grab samples collected returned assays up to 9.02 g/t Au, from variably banded (stylolitic) quartz blocks locally exceeding several tonnes in weight.
The 35 samples collected, 17 of which exhibited moderate to strong stylolitic banding, returned assays greater than 500 ppb (0.50 g/t Au) to a maximum of 9,020 ppb (9.02 g/t Au). The Golden Bull prospect lies within a larger area of anomalous till and soil geochemistry outlined by Sokoman since 2023, as well as geochemical and geophysical (very low frequency/electromagnetic) anomalies identified by historical work completed by Noranda Inc. in the late 1980s.
The district-scale Fleur de Lys project is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland. Curraghinalt is currently one of the largest undeveloped gold deposits in the Caledonian-Appalachian orogen, hosting more than six million ounces of gold.
Sokoman, based in Newfoundland and Labrador, Canada, focuses primarily on its gold projects, including the wholly owned Moosehead and Crippleback Lake and the extensive Fleur de Lys project near Baie Verte.
This latter project aims to discover Dalradian-type orogenic gold mineralization like the Curraghinalt and Cavanacaw deposits in Northern Ireland. The company has also partnered with Benton Resources Inc. on three large-scale joint ventures: Grey River, Killick lithium, formerly Golden Hope, and Kepenkeck, positioning Sokoman as one of the largest landholders in Canada’s emerging gold districts.
In October 2023, Sokoman and Benton entered into an agreement with Piedmont Lithium Inc. to advance the Killick lithium project. Under this deal, Piedmont can acquire up to 62.5% of the project by investing up to $12 million in exploration and issuing $10 million in shares over three phases.
The project, previously known as Golden Hope, is part of Killick Lithium Inc., a subsidiary of Vinland Lithium Inc., in which Piedmont has acquired a 19.9% stake for $2 million. Sokoman and Benton maintain operational control during the earn-in phases and retain a 2% net smelter return royalty on future production. Additionally, Piedmont holds exclusive marketing and first refusal rights on the lithium concentrates for the life of the mine.
Projects optioned with optionee fully vested: East Alder project optioned to Canterra Minerals Inc. (SIC retains 850,000 shares of CTM plus 1% NSR). Startrek project optioned to Thunder Gold (SIC retains 1.75 million shares of TGOL plus 1% NSR).