Benton and Sokoman Report Final Results from Recon Drilling at the Kraken Pegmatite Field - Golden Hope Project, SW Newfoundland
Li mineralization (spodumene) drilled to a vertical depth of 70 m at the Discovery Dyke; spodumene-bearing dykes, up to 22-m wide, located 600 m to the East of the Discovery Dyke
Thunder Bay, Ontario--(Newsfile Corp. - June 30, 2022) - Benton Resources Inc. (TSXV: BEX) ("Benton") and Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman") together, (the "Alliance") are pleased to report the final assay results from the 1,025-m reconnaissance drilling program carried out this past winter and report on recent trenching from the Kraken Pegmatite Field on the Golden Hope Joint Venture Property in southwest Newfoundland.
|Table 1: Significant Drill Results - Kraken|
|DDH #||Length m||Az.||Dip||From (m)||To (m)||Length m*||% Li2O|
|Hole lost at 38 m|
|* Core lengths - believed to be 90% of reported lengths.|
Benton's President and CEO Stephen Stares, states: "We are pleased to now have our camp, drill, and equipment on-site and operational. The stripping on the East dyke has shown excellent spodumene mineralization and has exposed geological contacts to help understand the orientation and behavior of the dykes in this area. With several prospective targets to test, we are excited to get our Phase 2 program underway on the East dyke in the coming days."
Sokoman's President and CEO Tim Froude, comments: "We have learned a great deal from the recon drill program about the Discovery Dyke area and we will use that information, coupled with ongoing trenching data, to plan the Phase 2 program which will start imminently. We have already exposed a significant spodumene-bearing dyke in the eastern portion of the Kraken swarm that last year's sampling returned an assay of 1.93% Li2O and this is where Phase 2 drilling will begin. We wish to emphasize that we have just scratched the surface with the exploration to date and that we have extensive work ahead of us to establish the limits of the dyke swarm."
The winter drilling program and current trenching program have located a significant swarm of lithium-rich pegmatite dykes flanking the regional Bay d'Est Fault. Important structural information was obtained in the drilling showing the dykes, at least in the Discovery Dyke area, are relatively flat-lying, as opposed to vertical to subvertical, the original concept for the reconnaissance drill program. As a result, three of five holes (GH-22-02, -03, -04) did not intersect the target Discovery Dyke. Flat-lying dykes are potentially important as significant lithium (spodumene) mineralization at Piedmont Lithium's Piedmont project in North Carolina is found in flat-lying dykes, which link subvertical dipping dykes.
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Given the results of the recon drill program, the Alliance has mobilized an excavator to expose the dykes to ensure that all drill holes are oriented optimally to test the in situ spodumene-bearing dykes in the upcoming program. Recent trenching on a surface exposure that gave a grab sample assay of 1.93% Li2O (November 9, 2021 news release), which is located approximately 600 m to the east of the Discovery Dyke, has exposed the thickest dykes encountered at Kraken (up to 22 m in apparent thickness). In addition, spodumene crystals up to 15-cm long (see photos) are noted in this outcrop, substantially larger than the few centimetre lengths at the Discovery Dyke. These dykes show dips, mainly subvertical to steeply to the south, as well as possibly flat-lying. Folding is also noted.
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The Kraken Pegmatite Field has been sampled over a strike length of 2,200 m and has an apparent width of 1,200 m, with historical assessment reports indicating pegmatite dykes up to 6 km along trend.
Gold analyses from the host sericite schist units, which carry variable pyrite gave only weakly anomalous values, however, the drilling has tested only 100 m of the 60-km-long structure and the drilling targeted the pegmatite dykes, not gold prospective zones, defined by geochemistry or prospecting, along the Bay d'Est Fault.
All samples are 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. Gold is analyzed by the fire assay method. A total of 1,165 drill core samples were cut and delivered for analysis.
The property lies along the Baie d'Est fault system, a gold prospective fault structure in southern Newfoundland, that extends through the Sokoman / Benton licences. The Alliance continues to evaluate historical data for significant gold and lithium mineralization and will restart ground prospecting and follow-up exploration in the near future.
This news release has been reviewed and approved by Timothy Froude, P.Geo., a Director of Benton Resources Inc. and President and CEO of Sokoman Minerals Corp. Mr. Froude is a 'Qualified Person' under National Instrument 43-101.
To ensure a working environment that protects the health and safety of the staff and contractors, Benton and Sokoman will continue to use best practices in the course of performing our work programs and will follow any future federal or provincially mandated or recommended COVID-19 guidelines.
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 Gold, Silver, Nickel, Copper, and Platinum Group Elements, and most-recently Lithium assets, 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 has also entered into a strategic alliance (the Alliance) with Benton Resources Inc. through three large-scale joint-venture properties including Grey River Gold, Golden Hope and Kepenkeck on the island of Newfoundland. Sokoman now controls independently and through the 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 district. 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.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Sokoman's property.
For further information, please contact:
CHF Capital Markets
Thomas Do, IR Manager
Phone: 416-868-1079 x 232
Benton Resources Inc.
Stephen Stares, President & CEO
Sokoman Minerals Corp.
Timothy Froude, P.Geo., President & CEO
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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