Sokoman Iron Corp. Provides Exploration Update
Puslinch, Ontario (FSCwire) - Sokoman Iron Corp. TSX-V SIC (the “Company”) is
pleased to provide the following update on recent and proposed exploration activities. The company is pleased to report
that it was successful in closing its recent placement and that the offering was fully subscribed. The funds will be used
to advance its 100% owned Startrek Antimony (Sb) project in central Newfoundland, 20 kilometers southeast of Gander and 70 road
kilometers northeast of the idle Beaver Brook Antimony Mine. The Beaver Brook Mine is currently under care and maintenance
and owned by China’s Hunan Nonferrous Metals Corporation Limited, a subsidiary of China Minmetals Corporation.
Recent closures of antimony mines due to resource depletion have caused a tight supply of antimony concentrates in
the market. The antimony price has been on the rise since early April, and the price gain was about 20% in Q2, 2016.
According to Metal Bulletin insight, antimony prices are likely to rise further in the second half of 2016. Below is
a chart reflecting antimony price movement in the past four months.
The company is proposing a series of 2-4 holes (total of 300 meters) to test Sb mineralization uncovered in late
2015 that returned 1.45% Sb over 3.25 meters, including 3.10% Sb over 1.25 meters. The channel sampling was carried out in
a trench (Red Fox Zone) excavated to explain a 1900 ppm Sb soil anomaly. Mineralization observed in washed bedrock consists
of thin stringers and bands of semi-massive to massive stibnite/pyrite/arsenopyrite ranging from 1 mm to several centimeters in
thickness over a 4 meter wide zone at the extreme western end of the trench. The mineralization is hosted within black,
carbonaceous shale. The strongest results were from the final eight samples cut (192684 to 192691). All eight samples
returned greater than 440 ppm Sb (maximum detection limit for Sb) and were subject to over limit assaying. The maximum
value returned was from the last sample cut (192691) which returned 3.30% Sb over 0.50 meters. The weighted average grade
for the last two samples (192690 and 192691) retuned 3.31% Sb over 1.25 meters.
The trenching program focused on soil geochemical results from the 2014 soil sampling program which returned
antimony (Sb) values ranging from below detection (5 ppm) to a maximum of 4500 ppm Sb (0.45% Sb). A total of 34 soil
samples (out of 110 total soil samples) returned values in excess of 100 ppm Sb. In addition, a total of nine samples
returned values greater than 20 ppb Au to a maximum of 181 ppb Au. The anomalous Au values correspond closely with moderate
to strong Sb values. The coincident Sb and Au anomaly is currently 500 meters in length and up to 100 meters in width and
open to the north and south. The grid was centered on a zone of Sb bearing sub-crop located by the property vendors in 2013
that returned Sb values in grab samples up to 1.83% Sb.
Weakly anomalous gold was also reported from the Red Fox Zone with a maximum of 68 ppb Au reported. Gold
values up to 1.78 g/t Au, has been reported by previous workers in grab samples from elsewhere on the property.
Timothy Froude, P. Geo., Interim CEO states: “The success at Startrek is quite positive and represents a high
priority drill target at the Red Fox Zone. In addition, there are still a large number of untested soil anomalies that
could also represent other zones of antimony mineralization on the project. Our goal of defining a new antimony deposit in
central Newfoundland has been given a strong boost by this discovery and we are encouraged by the recent rise in the price of
antimony”
The Startrek Project is host to several previously known antimony and gold occurrences the majority of which have
never been drill tested. Due diligence grab sampling carried out by third parties in 2013 returned the following values
from widely spaced areas on the Startrek property:
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 tfroude@sokomaniron.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.
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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Sokoman08042016.pdf
Source: Sokoman Iron Corp. (TSX Venture:SIC)
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