St. John's, Newfoundland--(Newsfile Corp. - February 6, 2019) - Sokoman Iron Corp. (TSXV: SIC) (OTCQB: SICNF) (the "Company" or "Sokoman") today announced that Phase 3 drilling has commenced on their 100%-owned Moosehead Gold Property in Central Newfoundland. Two drill rigs will be contracted to drill targets resulting from Phase 2 assay results in the Eastern and Western Trends plus some outlying areas, as well as targets identified from a detailed structural review of the Eastern Trend drill holes.
Rig 1 has arrived and is currently testing targets several hundred metres south of the Eastern Trend, while Rig 2 will begin to test extensions of the Eastern Trend identified by a recently received preliminary report of the structural characteristics of the Eastern Trend. Cutting of new drill setups will begin immediately. The Company is also continuing its efforts to thicken the ice in the southern portion of North Pond to facilitate testing of the upper portions of the newly recognized Eastern Trend Shear Zone which hosts all of the high-grade intercepts, including MH-18-01 (11.90 m @ 44.96 g/t Au); MH-18-17 (24.90 m @ 33.56 g/t Au) and MH-18-39 (9.05 m @ 70.29 g/t Au).
The Company would also like to announce that, in accordance with its stock option plan and subject to regulatory approval, it has granted 500,000 incentive stock options, exercisable at $0.12 for a period of 5 years, to a Director of the Company.
About Sokoman Iron Corp.
Sokoman Iron Corp. (TSXV: SIC) is a discovery-oriented company with projects in Newfoundland & Labrador, Canada. The Company's primary focus is its portfolio of gold projects in Central Newfoundland on the structural corridor hosting the 4.2 million ounce Valentine Lake gold project 150 km southwest of the Company's high-grade Moosehead gold project. The Company also has a 100% interest in an early-stage antimony project in Newfoundland recently optioned to White Metal Resources, as well as a 100% interest in the Iron Horse (Fe/U/REE) project in Western Labrador.
To learn more, please contact:
Timothy Froude, P. Geo.,
President & CEO
709-765-1726
Cathy Hume, Director,
Investor Relations
416-868-1079
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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 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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