Benton and Sokoman Complete Recon Drilling at Kraken Pegmatite Field on the Golden Hope Project, Southwestern Newfoundland Five holes completed; multiple spodumene-bearing dikes intersected
Benton and Sokoman Complete Recon Drilling
at Kraken Pegmatite Field on the Golden Hope
Project, Southwestern Newfoundland
Five holes completed; multiple spodumene-bearing dikes
intersected
Thunder Bay, Ontario--(Newsfile Corp. - February 24, 2022) - Benton Resources Inc. (TSXV: BEX)
("Benton") and Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman") together, ("the
Alliance") are pleased to announce the completion of a 1025 m reconnaissance drilling program testing
the recently discovered Kraken Pegmatite Field at the Golden Hope Joint Venture Project in
southwestern Newfoundland. This represents the first known drill program directly targeting lithium
mineralization in the province of Newfoundland and Labrador, Canada.
The five-hole program focused on a 100 m by 100 m area in the vicinity
of the initial discovery (map in
progress; will be posted asap), which included more than 100 float and outcrop grab samples and
composite chip samples, that returned lithium values ranging from 0.05% to 2.37% Li
2
O. Multiple
mineralized, spodumene-bearing dikes were intersected in all drill holes ranging from less than 1 m to
approximately 8 m in drilled thickness (true thicknesses are not known at this time), from surface to
approximately 50 m vertically below surface.
Spodumene (pale-green needle-shaped crystals) in GH-22-01 (depth shown in metres)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3657/114724_8d713e9bf4384992_003full.jpg
Core logging and sampling are ongoing and are expected to be completed in one week. All samples will
be shipped to Activation Laboratories in Ancaster, Ontario for multi-element analysis including lithium,
tantalum, cesium, and other rare / critical metals by Sodium Peroxide Fusion ICPOES + ICPMS. The
Kraken Pegmatite Field has been sampled over a strike length of 2200 metres and an apparent width of
1200 metres, and historical assessment work suggests the field could extend beyond the current limits.
Geological mapping and prospecting will be underway, as soon as conditions allow, to further expand
the mineralized dike swarm.
The area lies along the Baie d'Est fault system, a gold prospective fault structure in southern
Newfoundland that extends through the Sokoman / Benton licenses. Samples of the host rock for the
pegmatite dikes, mainly a foliated sericite schist, carrying strong pyrite mineralization, will be analyzed
for Au at Activation Laboratories by the fire assay method. Two types of potential gold mineralization
have been noted:
1)
Pyrite (1-10%), associated with quartz/tourmaline/pyrite (QTP) veins, similar to the mineralization at
the Valentine Gold property of Marathon Gold Corporation, 73 km NE
2)
Silicification, with disseminated pyrite, similar to the gold mineralization at the past-producing Hope
Brook Gold Mine, located 23 km along trend to the SW
Benton's President and CEO Stephen Stares, states:
"Even though we only tested a small portion
of the Kraken pegmatites, Benton is quite pleased with the data and understanding received in this
current program. It's apparent that the Alliance should establish an onsite camp and use a tracked drill
rig to test the scale of the Kraken pegmatite swarm more efficiently. In addition, the large zones of
silicification and sulphides are a welcome surprise, and it will be interesting to see if there is gold in this
mineralized system. We are excited for the future of this project as we get ready to ramp-up exploration
in the coming months."
Sokoman's President and CEO Tim Froude, comments:
"The Alliance is extremely pleased with the
initial drill program at the Kraken Pegmatite Field and looks forward to receiving the analytical results.
Through adverse weather conditions, we were able to complete a 1025 m program in five holes (a sixth
hole was collared but was abandoned at 38 m due to poor ground conditions) ranging from 182 m to
224 m in length. We have now taken the first major lithium discovery on the Island of Newfoundland from
a surface showing to a drilled prospect with only 5% of the known extent of surface mineralization tested,
which remains open in all directions. Future drilling at the Kraken Pegmatite Field will follow compilation
of all data including assays, recently flown airborne magnetics, LiDAR, high-resolution aerial
photography, and proposed mapping in Q2 2022."
QP
This news release has been reviewed and approved by Timothy Froude, P.Geo., President, and CEO of
Sokoman Minerals Corp. a 'Qualified Person' under National Instrument 43-101.
COVID-19 Protocols
To ensure a working environment that protects the health and safety of the staff and contractors, Benton
and Sokoman are operating under federally and provincially mandated and recommended guidelines
during the current COVID-19 alert level.
About Benton Resources Inc.
Benton Resources Inc. is a well-funded mineral exploration company listed on the TSX Venture
Exchange under the symbol BEX. Following a project generation business model, Benton has a
diversified, highly prospective property portfolio in Lithium, Gold, Silver, Nickel, Copper, and Platinum
Group Elements and currently holds large equity positions in other mining companies that are advancing
high-quality assets. Whenever possible, BEX retains Net Smelter Return (NSR) royalties for potential
long-term cash flow. Benton has also recently entered into a 50/50 strategic alliance with Sokoman
Minerals Corp. (TSXV: SIC) through three large-scale joint-venture properties including Grey River Gold,
Golden Hope and Kepenkeck in Newfoundland that are now being explored.
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is a discovery-oriented company with projects in Newfoundland and Labrador,
Canada. The company's primary focus is its portfolio of gold projects: flagship, 100%-owned
Moosehead, Crippleback Lake (optioned to Trans Canada Gold Corp.) and East Alder (optioned to
Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the district-scale Fleur
de Lys project in northwestern Newfoundland, that is targeting Dalradian-type orogenic gold
mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland, and Cononish in
Scotland. The company also recently entered into a strategic alliance with Benton Resources Inc. through
three large-scale joint-venture properties including Grey River Gold, Golden Hope and Kepenkeck in
Newfoundland. Sokoman now controls independently and through the Benton alliance over 150,000
hectares (>6,000 claims - 1,500 sq. km), making it one of the largest landholders in Newfoundland,
Canada's newest and rapidly-emerging gold districts. Sokoman also retains an interest in an early-stage
antimony/gold project (Startrek) in Newfoundland, optioned to White Metal Resources Inc., and in
Labrador, the company has a 100%-interest in the Iron Horse (Fe) project that has Direct Shipping Ore
(DSO) potential.
For further information, please contact:
CHF Capital Markets
Cathy Hume, CEO
Phone:
416-868-1079 x 251
Email:
Benton Resources Inc.
Stephen Stares, President & CEO
Phone:
807-475-7474
Email:
Sokoman Minerals Corp.
Timothy Froude, P. Geo., President & CEO
Phone:
709-765-1726
Email:
Website:
www.bentonresources.ca
,
www.sokomanmineralscorp.com
Twitter:
@BentonResources
,
@SokomanMinerals
Facebook:
@BentonResourcesBEX
,
@SokomanMinerals
LinkedIn:
@BentonResources
,
@SokomanMinerals
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of
applicable securities legislation. Forward-looking statements relate to information that is based on
assumptions of management, forecasts of future results, and estimates of amounts not yet
determinable. Any statements that express predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance are not statements of historical fact and may
be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause
actual events or results to differ from those reflected in the forward-looking statements, including,
without limitation: risks related to failure to obtain adequate financing on a timely basis and on
acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks
associated with mining and exploration; risks related to the maintenance of stock exchange listings;
risks related to environmental regulation and liability; the potential for delays in exploration or
development activities or the completion of feasibility studies; the uncertainty of profitability; risks and
uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral
deposits; risks related to the inherent uncertainty of production and cost estimates and the potential
for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility
that future exploration, development or mining results will not be consistent with the Alliance's
expectations; risks related to gold price and other commodity price fluctuations; and other risks and
uncertainties related to the Alliance's prospects, properties and business detailed elsewhere in the
Alliance's disclosure record. Should one or more of these risks and uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary materially from those
described in forward-looking statements. Investors are cautioned against attributing undue certainty to
forward-looking statements. These forward-looking statements are made as of the date hereof and the
Alliance does not assume any obligation to update or revise them to reflect new events or
circumstances. Actual events or results could differ materially from the Alliance's expectations or
projections.
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