Benton and Sokoman Complete Recon Drilling at Kraken Pegmatite Field on the Golden Hope Project, Southwestern Newfoundland

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 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 vicinityof 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% Li2O. 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.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/3657/114724_8d713e9bf4384992_003.jpg

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://orders.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:cathy@chfir.com

Benton Resources Inc.
Stephen Stares, President & CEO
Phone: 807-475-7474
Email:sstares@bentonresources.ca

Sokoman Minerals Corp.
Timothy Froude, P. Geo., President & CEO
Phone: 709-765-1726
Email:tim@sokomanmineralscorp.com

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/114724

News Provided by Newsfile via QuoteMedia

BEX:CA
The Conversation (0)
Benton and Sokoman Announce Updates on Newfoundland Joint Venture Projects Golden Hope and Grey River

Benton and Sokoman Announce Updates on Newfoundland Joint Venture Projects Golden Hope and Grey River

Additional High-Grade Cesium Assays from Hydra Dyke at Golden Hope: Gold Mineralization Expanded at Grey River

Benton Resources Inc. (TSXV: BEX) ("Benton") and Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman") together, (the "Alliance") are pleased to report final assay results from the recently discovered cesium-rich dyke ("Hydra Dyke" or "Hydra") on the Golden Hope Joint Venture Project, as well as final drill results from a successful Phase 2 drilling campaign at Grey River; both projects are located in southwestern Newfoundland.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Benton Receives $100,000 Option Payment from Rio Tinto Exploration for Baril Lake West Project

Benton Receives $100,000 Option Payment from Rio Tinto Exploration for Baril Lake West Project

Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company") is pleased to announce it has received the final option payment of CAD$100,000 from Rio Tinto Exploration Canada ("RTEC") for the Baril Lake West project (see press release dated January 2, 2019). Pursuant to the terms of the Option to Purchase Agreement dated December 21, 2018 between the Company and RTEC, RTEC has now earned the right to acquire 100% of the Baril Lake West project. Should RTEC achieve commercial production at the Baril Lake West project, it will pay Benton an additional CAD$1,000,000 in cash. Benton will also retain a 2% net smelter return (NSR) royalty, half of which (1%) can be purchased by RTEC for CAD$1,000,000.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Benton Advises that Clean Air Metals Closes First Tranche of CAD$15 Million Royalty Financing Agreement on Thunder Bay North Critical Minerals Project with Triple Flag Precious Metals Corp.

Benton Advises that Clean Air Metals Closes First Tranche of CAD$15 Million Royalty Financing Agreement on Thunder Bay North Critical Minerals Project with Triple Flag Precious Metals Corp.

Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company") is pleased to announce that it has been notified by Clean Air Metals Inc. ("Clean Air") that it has entered into a CAD$15 million mineral royalty financing agreement with Triple Flag Precious Metals Corp. ("Triple Flag"). Clean Air has closed an initial tranche of $10 million of the CAD$15 million contained within the agreement. Under the terms of the agreement, Clean Air will utilize a portion of the funds to make the final payment of CAD$1.5 million to Panoramic Resources Inc. and will satisfy the final condition to earn a 100% interest in the Thunder Bay North Project from Benton. Benton currently holds 24.6 million shares of Clean Air and retains a 0.5% net smelter return (NSR) royalty on the Escape Lake Deposit and a 0.5% NSR royalty on a large portion of the Thunder Bay North deposit (see Benton press release dated May 15, 2020).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Sokoman and Benton Channel Samples up to 13.57% Cs2O and Confirm High-Grade Cesium Discovery at the Golden Hope Joint Venture, Southwestern Newfoundland

Sokoman and Benton Channel Samples up to 13.57% Cs2O and Confirm High-Grade Cesium Discovery at the Golden Hope Joint Venture, Southwestern Newfoundland

Channel sampling at the Hydra Zone returns up to 13.57% Cs2O

Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) ("Sokoman") and Benton Resources Inc. (TSXV:BEX) ("Benton") together, (the "Alliance") are pleased to announce that recent channel sampling at the cesium dyke prospect has confirmed a potentially significant high-grade cesium discovery dubbed the Hydra Zone, on the Golden Hope Project in southwestern Newfoundland

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
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

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

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.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Forum Energy Metals to Present at the Energy Transition Metals Summit in Washington, DC April 29 - 30, 2024

Forum Energy Metals to Present at the Energy Transition Metals Summit in Washington, DC April 29 - 30, 2024

Join Forum Energy Metals (TSXV: FMC) (OTCQB: FDCFF) at the Energy Transition Metals Summit being held at the Marriott Marquis in Washington, DC on Monday, April 29 and Tuesday, April 30. Forum President & CEO, Richard Mazur and Dr. Rebecca Hunter, Vice President of Exploration will be available both days of the conference for 1 X 1 meetings to update investors on Forum's high grade uranium discovery in the Thelon Basin, Nunavut.

Qualified buy side parties can register at:
https://www.precioussummit.com/event/2024-energy-transition-metals-summit-washington-d-c/

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Hudbay to Host Conference Call for First Quarter 2024 Results

Hudbay Minerals Inc. ("Hudbay" or the "company") ( TSX, NYSE: HBM) senior management will host a conference call on Tuesday, May 14, 2024 at 11:00 a.m. ET to discuss the company's first quarter 2024 results.

First Quarter 2024 Results Conference Call and Webcast
Date: Tuesday, May 14, 2024
Time: 11:00 a.m. ET
Webcast: www.hudbay.com
Dial in: 1-416-764-8650 or 1-888-664-6383
Additional Dial-in

Hudbay plans to issue a news release containing the first quarter 2024 results before market open on Tuesday, May 14, 2024 and post it on the company's website. An archived audio webcast will be available on Hudbay's website following the call.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Culpeo Minerals

Culpeo Commences Drilling at Lana Corina Where Intersections Included 257m @ 1.10% CuEq

Culpeo Minerals Limited (“Culpeo” or the “Company”) (ASX:CPO, OTCQB:CPORF) is pleased to advise extensional drilling has commenced at the Lana Corina Project (the Project), Chile, building on the achievements of the 2023 program.

Keep reading...Show less
Miramar Resources

Goldfields Exploration Update

Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to provide an update on gold exploration activities within the Company’s strategic Eastern Goldfields project portfolio.

Keep reading...Show less
World Copper

World Copper


Keep reading...Show less

Lundin Mining Pre-Announces Items Impacting the First Quarter 2024 Results

Lundin Mining Logo (CNW Group/Lundin Mining Corporation)

TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is pre-announcing certain items impacting the Company's quarterly earnings, adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA") 1 adjusted earnings 1 and adjusted earnings per share 1 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×