Benton and Sokoman Report Final Results from Recon Drilling at the Kraken Pegmatite Field - Golden Hope Project, SW Newfoundland

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

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 mAz.Dip From (m)To (m)Length m* % Li2O
GH-22-01209.0325-45 47.8056.208.400.95
    incl.48.9053.404.501.52
    incl.52.6053.400.801.76
         
GH-22-05179.0145-45 2.5018.7016.200.43
    incl2.503.501.001.30
    and11.0012.801.801.10
     99.00114.1015.100.31
    incl100.00101.751.750.94
GH-22-0638.0145-45 3.505.001.500.32
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.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/3657/129575_a7d97836147319fc_004.jpg

Active trenching exposes spodumene dyke 600-m east of Discovery Dyke - Kraken Pegmatite Swarm

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3657/129575_a7d97836147319fc_004full.jpg

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.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/3657/129575_a7d97836147319fc_005.jpg

Pegmatite Dyke Exposure 600-m East of Discovery Dyke; Spodumene Crystals up to 15 cm Long

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3657/129575_a7d97836147319fc_005full.jpg

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.

QP

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.

COVID-19 Protocols

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
Email:thomas@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/129575

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
Osisko Metals Grants Stock Options

Osisko Metals Grants Stock Options

Osisko Metals Incorporated (the " Company " or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) wishes to announce that the Company's Board of Directors have approved the grant of incentive stock options to directors, officers, employees and consultants to purchase up to an aggregate of 1,935,000 common shares in the capital stock of the Company. Grants are subject to a three-year vesting period and a five-year term at an exercise price of $0.155 per share.

About Osisko Metals

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Awalé Resources unveils another high-grade gold discovery in Côte d'Ivoire

Awalé Resources unveils another high-grade gold discovery in Côte d'Ivoire

(NewsDirect)

Awale Resources Ltd (TSX-V:ARIC) CEO Andrew Chubb joins Proactive's Stephen Gunnion with an update on the drilling programme at the Odienné project in Côte d'Ivoire, highlighting a particularly remarkable drill hole at the Charger target as "nothing short of spectacular."

Chubb said the drill hole yielded 32 metres at 45.7 grammes per tonne of gold within a 57-metre interval averaging 26 grammes per tonne. Chubb described this find as the best drill hole of his career, noting its consistency of high-grade mineralisation without reliance on large gold nuggets, which underscores the significance of the find.

Chubb also indicated that Awalé Resources has only begun to explore the project's potential and announced plans for follow-up drilling. The imminent drilling programme will target both the BBM and Charger sites, with rigs expected to commence within two weeks. The BBM target, announced last week as a new discovery, and the Charger target, known for its visible gold breccia pipe system, are areas of focus due to their previously identified high-grade intercepts.

Chubb expressed enthusiasm for the future, citing the Odienné project's drilling results as among the highest-grade gold sections in Africa in decades. With 25,000 metres of drilling planned for the year, he anticipates further significant discoveries and commits to keeping stakeholders informed on the project's progress.

Contact Details

Proactive

+1 604-688-8158

na-editorial@proactiveinvestors.com

Copyright (c) 2024 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
WESTERN COPPER AND GOLD ANNOUNCES METALLURGICAL PROGRAM AND ASSOCIATED DRILL RESULTS

WESTERN COPPER AND GOLD ANNOUNCES METALLURGICAL PROGRAM AND ASSOCIATED DRILL RESULTS

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) announces the launching of a metallurgical testing program (the "Metallurgical Program") for its wholly-owned Casino Copper-Gold Project (" Casino "). Fifteen composite samples were prepared from core acquired in 2023 (the "Drill Program"). Western's Technical and Sustainability Committee, comprised of members from Western, Rio Tinto Canada Inc. and Mitsubishi Materials Corporation, prepared the Drill and Metallurgical Programs.

Drill Program

The 2023 Drill Program consisted of seven holes for 2,244 m ranging from 130 m to 556 m in length. The drill holes were located inside the current pit boundaries and were selected to provide a range of grades, host rocks, and mineralogy for the Metallurgical Program (see Figure 1). The drill holes were also selected to convert indicated resource to measured.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Aston Bay and American West Metals Announce Geophysical Program Set to Begin at the Storm Copper Project, Canada

Aston Bay and American West Metals Announce Geophysical Program Set to Begin at the Storm Copper Project, Canada

Geophysical program designed to deliver a pipeline of priority drill targets for new copper discoveries

Aston Bay Holdings Ltd. (TSXV:BAY)(OTCQB:ATBHF) ("Aston Bay" or the "Company") is pleased to provide details on the upcoming geophysical surveys and exploration program at the Storm Copper Project ("Storm" or the "Project") on Somerset Island, Nunavut. The program will be conducted by American West Metals Limited ("American West"), who is the operator of the Project. American West has completed the required expenditures to earn an undivided 80% interest in the Project. American West will be solely responsible for funding the program

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
WESTERN COPPER AND GOLD ANNOUNCES RIO TINTO EXERCISE OF THEIR ANTI DILUTION RIGHT

WESTERN COPPER AND GOLD ANNOUNCES RIO TINTO EXERCISE OF THEIR ANTI DILUTION RIGHT

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) announces it has completed a private placement with Rio Tinto Canada Inc. ("Rio Tinto") pursuant to Rio Tinto's subscription rights as a result of the Company's recent private placement with the incoming CEO.

Western Copper and Gold Corporation logo (CNW Group/Western Copper and Gold Corporation)

Rio Tinto acquired 239,528 common shares of the Company at a price of C$1.35 per share for proceeds of C$323,363 , allowing Rio Tinto to maintain its interest of approximately 9.7%.

western copper and gold corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.

The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project using internationally recognized responsible mining technologies and practices.

For more information, visit www.westerncopperandgold.com .

On behalf of the board,

"Sandeep Singh"

Sandeep Singh
Chief Executive Officer
western copper and gold corporation

SOURCE western copper and gold corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2024/25/c5284.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Awalé Hits 45.7 g/t Gold over 32m at the Odienné Project

Awalé Hits 45.7 g/t Gold over 32m at the Odienné Project

HIGHLIGHTS

  • 26 g/t gold over 57m, 1487 gram meters gold from 164m downhole in OEDD-83

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×