Benton Resources and Sokoman Minerals Report Kraken Lithium Prospect Phase 3 Drilling Program Underway; First Three Holes Cut Spodumene-Rich Dykes up to 14 m Thick
Thunder Bay, Ontario--(Newsfile Corp. - November 30, 2022) - Benton Resources Inc. (TSXV: BEX) ("Benton") and Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman"), together, (the "Alliance") are happy to report the commencement of the third phase of drilling at the Kraken Lithium Prospect. The Alliance is also extremely pleased to announce a new discovery, the Killick Zone, where surface grab samples graded up to 1.12% Li2O, located 200 m south of the East Dyke Zone (see press release October 18, 2022).
Currently, the Alliance has completed three holes GH-22-25, GH-22-26, and GH-22-27 on the new discovery, intersecting multiple, near-surface, spodumene-bearing dykes. Hole GH-22-25 cut eight pegmatite dykes ranging from 0.8 m to 11.2 m thick (drilled thickness, true thickness uncertain at this time), including an 8.8 m interval with visible spodumene in the 11.2 m dyke. Hole GH-22-26, drilled 35 m behind GH-22-25, also cut multiple spodumene-bearing dykes with drilled thicknesses ranging from 0.8 m to 10.5 m. The 10.5 m-thick dyke carried visible spodumene over its entire width. Hole GH-22-27 was drilled 30 m north of holes 25 and 26 along strike and cut two pegmatite dyke zones of 14.2 m and 2.95 m thick. Visual spodumene is present over 12.83 m of the 14.2 m interval and the entire length of the 2.95 m interval.
The planned drill program will consist of a minimum of 2,000 m targeting the new Killick Zone, and well as the main Kraken Discovery Dyke area located 0.6 km to 1.2 km to the west of the Killick and East Dyke area. The current drill program is expected to continue until the start of the holiday break in mid-December. The core has been logged and is currently being prioritized to facilitate faster sampling of the mineralized sections. The Alliance continues to be impressed with the rate of discovery in this new lithium district and looks forward to the future exploration success of this exciting lithium project located in the mining-friendly province of Newfoundland and Labrador.
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Kraken Project Highlights:
First significant lithium discovery on the Island of Newfoundland in July 2021; select grab samples returned values from trace up to 2.37% Li2O over a 2.2 km strike length, the discovery remains open with the Alliance controlling an additional 60 km of potential strike extensions. A reconnaissance drill campaign in early 2022 intersected 0.94% Li2O over 8.40 m on the Kraken Discovery Dyke.
Second drill campaign in summer 2022 (3,073 m / 18 holes) focused on the East Dyke area 600 m to the east of the Kraken Discovery Dyke, intercepted multiple stacked dykes including 0.60% Li2O over 20.82 m (46.00 m to 66.82 m), including 1.16% Li2O over 5.50 m, including 1.43% Li2O over 2.68 m.
Discovery of the new high-grade Cesium Zone 12 km to the east northeast of Kraken with grab samples assaying up to 1.56% Cs2O (cesium oxide), 0.4% Li2O (lithium oxide), 0.022% Ta2O5 (tantalum oxide), and 0.30% Rb2O (rubidium oxide), released November 17, 2022.
Third phase drill program currently underway with the first three holes intersecting visual spodumene over significant thicknesses up to 11.2 m in the new Killick Zone 200 m south of East Dyke.
The third phase drilling will also target a 600 m to 700 m strike extension immediately west of the Kraken Discovery Dyke which has multiple untested surface samples and dyke occurrences grading in excess of 1% Li2O, as well as strong soil geochemistry.
Lithium soil geochemistry over areas of spodumene-bearing dykes outlines the mineralization. Subsequent soil sampling along trend and to the north of the known zones has identified multiple strong lithium-in-soil anomalies, now prioritized for prospecting. Given its effectiveness, the Alliance has launched an extensive and systematic lithium soil survey at Golden Hope.
The Alliance believes the extensive (~800 sq km) Golden Hope project has excellent potential for additional discoveries. Exploration is still in its infancy and the Alliance has control over a district-scale lithium play similar in scale to the large systems in the Appalachians, including the important deposits held by Piedmont Lithium Inc. in the Carolinas, USA, as well as the Avalonia Project of International Lithium in a joint venture with GFL International Co. Ltd., a subsidiary of Ganfeng Lithium Co. Ltd. in the Caledonides of Ireland. Golden Hope lies along the prolific Appalachian-Caledonian Lithium Belt extending from the UK to the Eastern US.
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Benton's President and CEO Stephen Stares, states: "This project continues to surprise us with more lithium-rich pegmatites, and I have no doubt we are onto a very important discovery of much-needed strategic metals on the Island of Newfoundland. We continue to show the robust extent of these highly-evolved pegmatite fields from multiple zones of high-grade Lithium at the Kraken, to the discovery of high-grade Cesium 12 km to the East. We are very pleased with our continued success and look forward to receiving assay results from our ongoing exploration efforts."
Sokoman's President and CEO Tim Froude, comments: "We have stated in the past that the true size of the lithium-rich system on the Golden Hope Property is still unknown, today's announcement further emphasizes that fact. The Killick Zone discovery is yet another example of just how well mineralized this corridor is, and with several rock and soil anomalies as yet untested, we feel numerous more discoveries are yet to be made. At this time, it is not possible to determine if the dykes at the Killick Zone are the western extension of the East Dyke, or if they represent a new, subparallel trend. Drilling to test the western extension of the Kraken Discovery Dyke will focus on the 2 km long lithium-in-soil anomaly, as well as numerous outcrops and float of spodumene mineralization that are known."
This news release has been reviewed and approved by Timothy Froude, P.Geo., President and CEO of Sokoman Minerals Corp., and a Director of Benton Resources Inc. Mr. Froude is a 'Qualified Person' under National Instrument 43-101.
Analytical Techniques / QA/QC
Samples, including duplicates, blanks, and standards, were submitted to SGS Canada Inc. in Grand Falls-Windsor, Newfoundland for prep and then sent to SGS Canada Inc. analytical laboratory in Burnaby, British Colombia. All core samples submitted for assay were saw cut by Benton personnel with one-half submitted for assay and one-half retained for reference. Samples were delivered in sealed bags directly to the Grand Falls-Windsor prep lab by Benton personnel or contractor. SGS Canada Inc. ("SGS") is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples are analyzed using SGS's GS_IMS91A50 method that delivers a 56-element package utilizing sodium peroxide fusion, ICP-AES, and ICP-MS analytical techniques. One blank and one industry-approved standard for every twenty samples submitted is included in the sample stream. Random duplicates of selected samples are analyzed in addition to the in-house standard and duplicate policies of SGS Canada Inc. All reported assays are uncut.
All soil samples were analyzed for lithium at Eastern Analytical in Springdale, NL. Lithium package includes Lithium, Lithium Oxide, Tantalum, Niobium, and Tin. One (1) gram of sample is digested to dryness in three acids (Nitric, Perchloric, and Hydrofluoric). After which HCl is added and brought to a boil on a hotplate. It is then topped to volume (200 ml) with distilled water and read on the ICP-OES.
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 of Gold, Silver, Nickel, Copper, Platinum Group Elements, and most-recently Lithium and Cesium assets. In addition, it currently holds large equity positions in other mining companies that are advancing high-quality assets. Whenever possible, BEX retains Net Smelter Return (NSR) royalties with potential long-term cash flow.
Benton also is a 50/50 partner in a 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.
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 and Crippleback Lake Projects, 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.
For further information, please contact:
CHF Capital Markets
Thomas Do, Investor Relations 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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