Fleur de Lys — Sokoman

Fleur de Lys Project

Project Summary

A district-scale property in Northwestern Newfoundland, targeting Dalradian-style orogenic gold deposits

Total of 1,315 claims (328.75 sq. km)
Previously minimally explored for Au
Numerous cross-cutting structures
Known gold anomalies in till/soil/rock/lakes
Adjacent to Newfoundland’s recent Au production on the Baie Verte Peninsula
A district-scale project acquired, largely for staking costs and limited ongoing costs

Highlights

Geological equivalent to the Dalradian belt in the Northern UK Caledonides (location of the six-million-oz Curraghinalt Deposit, an underground gold mine being developed in Tyrone County, Northern Ireland)

Initial Sokoman till sampling returned more than 200 gold grains with almost 50% pristine
There are unexplained gold anomalies in government-collected lake sediments and tills
98% of property is 100% owned with no royalties or required payments
Historic exploration is scattered and quite limited - virtually none since late 1990s
Only one drill hole for gold (1980s)
Historic gold in bedrock values ranged from 3.3 to 25.5 g/t gold but were not drilled
Recent Federal/Provincial mapping and airborne geophysics available in a newly released digital geoscience atlas of the Baie Verte Peninsula
Excellent infrastructure including ready access via hundreds of kilometres of paved secondary highways and forest-access roads

An analogous geological setting, at multiple levels, to the multi-million-ounce Dalradian-style gold deposit in Ireland/UK. (e.g., Curraghinalt). This orogenic vein-hosted gold prospect represents a readily accessible yet underexplored, district-scale, gold target in the Newfoundland Appalachians.

The 2025 exploration program will target unexamined till and/or geophysical anomalies in the southern portion of the property. The 2024 exploration focused on targets only in the northern half of the property. Further close-spaced trenching is needed at the Golden Bull area, where initial prospecting had located large angular boulders with values up to 9.04 g/t Au. Additional ground surveys, including prospecting, geophysics and trenching, are planned in the area near drill hole FDL-24-23, which intersected multiple pyrite-rich quartz veins resembling pyrite veins at Curraghinalt in Northern Ireland. Since FDL-24-23 lies 3 km from the next closest drill hole, further diamond drilling is warranted.

Mr. Froude comments, “We are excited by the early exploration results from the Fleur de Lys property. With further ground exploration, we hope that we can return with a follow-up drill program in late 2025.”

The inaugural drill program at Fleur de Lys was conducted on an 8 km2 section of the 329 km2 Fleur de Lys Project. It returned many promising results, with 50% of the drill holes intersecting gold-bearing structures. The final and most northerly hole (FDL-24-23) intersected five separate gold-bearing veins, which indicates a new direction for further exploration.

Completed in December 2024, the Phase 1 drill program at the 100%-owned Fleur de Lys Project, included 23 drill holes. Twenty reconnaissance drill holes evaluated high-priority geochemical and/or geophysical targets, including seven holes in the immediate vicinity of the gold-bearing Golden Bull discovery boulders. Three others (FDL-24-9,10, and 17) tested historic showings discovered by Noranda in the late 1980s.

Twelve of the drill holes, including the three holes on the Noranda targets, intersected gold mineralization (>200 ppb). To locate the source of the large, mineralized boulders, exploration, including prospecting, mapping, geophysics, trenching, and a Phase 2 drilling program, is planned for 2025.

In August 2024, a 2,000-m, Phase 1 program was carried out to test historical showings and targets generated by Sokoman’s 2021-2024 till / prospecting programs, including the Golden Bull prospect discovered in 2023. Drilling began at the southern end of the area to assess targets not tested by Noranda in the 1980s and ended at the Golden Bull area in the central portion of the target area.

The target area includes several discrete targets highlighted by the Golden Bull Prospect, which is defined by 124 grab samples, with visible gold noted, and with 34 values >500 ppb Au to a maximum of 9,020 ppb (9.02 g/t) Au, in laterally extensive, stylolitic quartz float consisting of angular to sub-angular boulders.

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 gold (1.0 g/t Au) to a maximum of 5,472 ppb gold (5.47 g/t Au)
Five samples greater than 1.0 g/t Au were from bedrock grabs
Multiple high-priority drill targets are now confirmed for the upcoming Phase 1 drill program, which will focus on the Golden Bull target area; four other areas will also be drill tested

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.

Up to October 2023, exploration at Fleur de Lys has outlined an area of very angular, visible gold-bearing float dubbed the Golden Bull Prospect, measuring 300 m in length and an unknown width, with numerous pieces of banded quartz weighing up to several tonnes. The Golden Bull Prospect is in the northern portion of the property. The Golden Bull mineralization consists of strongly stylolitic (banded) quartz, with up to 2% disseminated pyrite, arsenopyrite, sphalerite, and minor chalcopyrite. Visible gold is noted. Assay results from metallics assays of the grab samples suggest that visible gold is common in the Golden Bull Prospect veins. The Prospect lies in a larger area of anomalous till and soil geochemistry defined by Sokoman in 2023, where geochemical and geophysical (VLF-EM) anomalies occur in historical work by Noranda Inc. in the late 1980s.

In August 2023, a scouting trip to Fleur de Lys had located the highest-grade rock sample values since staking the property in 2020. Grab sampling in an area that gave values up to 3.2 g/t Au in 1987 has not only verified the original showing but returned substantially higher grades, including the highest-grade value located by Sokoman - 13.96 g/t Au, from a 1- to 2-metre-wide shear zone with stringer quartz veining and 20%-30% pyrite with minor arsenopyrite. Five rock samples were collected at random intervals along a 15-20 m section along an old logging road. Four samples of mineralized shear returned assays of 13.96, 5.89, 2.55, and 1.46 g/t Au using metallic sieve gold analysis. A fifth sample of unmineralized wall-rock, gave 20 ppb Au.

In 2022 a property-scale C-Horizon Till sampling program (1,260 samples) was implemented and overseen by Overburden Drilling Management (ODM). This outlined strongly anomalous gold in tills overlying favourable rocks and structures with significant gold values in both float and bedrock. The background level of gold grains in tills for the project has been determined to be 10 grains in a 10- to 12-kilogram sample of screened till. ODM considers a Fleur de Lys sample to be anomalous if it contains two-times background or 20 gold grains. Of the 1,260 samples collected, 328 samples, or just over 25%, have at least 20 gold grains (to a maximum of 230 grains) and are considered anomalous. Fifty-five samples contain at least 60 grains (six-times background) with multiple samples containing more than 50% pristine gold grains. Gold grains described as pristine are considered to be from a local bedrock source. Of note - most gold grains at Fleur de Lys are small (<1 mm) as is most of the gold at Curraghinalt, where gold is intimately associated with pyrite mineralization in quartz veins.

Field prospecting had located anomalous gold in bedrock and float, with 34 samples giving gold values >100 ppb Au (0.1 g/t Au), including 18 samples >500 ppb Au (0.5 g/t Au), and 10 samples >1000 ppb Au (>1.0 g/t Au) with a maximum of 6.2 g/t Au. The highest gold value was in an outcrop (a grab sample) in an area of strong gold-grain counts. A regional airborne magnetic survey suggested that multiple crosscutting structures occur in the vicinity of several strong gold in till anomalies and in multiple rock (grab and float) gold-bearing samples, all within a 5-8 km corridor adjacent to the Baie Verte Line. Interpretation of the till results by ODM defines a target area of 30-km strike-length, with better-defined anomalies located within the 30 km-long area.

Reconnaissance till sampling by Sokoman in 2019/20 over the “then” Crown Land in the Fleur de Lys belt has defined multiple gold targets, defined by 129 C-Horizon Till samples. Results gave 38 samples with >20 grains, 14 >40 grains with a maximum of 122 grains. Many samples with high gold-grain counts had a high percentage (30%-80%) of pristine grains, suggesting a local, probably less than 1 km, source for the gold.