high value home insurance st john's nl

Benton Resources and Sokoman Minerals Commence Diamond Drilling Grey River JV Project, Southern Newfoundland

Phase 1 Program Approximately 2,000 metres

Benton Resources Inc. (TSXV: BEX) ("Benton") and Sokoman Minerals Corp. ("Sokoman") (TSXV: SIC) (OTCQB: SICNF) (jointly "the Alliance") are pleased to announce that Phase 1 diamond drilling has commenced at the Grey River JV gold project (the "Project") on the south coast of Newfoundland. The Project is targeting high-grade gold mineralization similar in style to the Pogo gold deposit in the Tintina Belt of Alaska.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/3657/99368_4a75206634245820_003.jpg
Grey River Project: Proposed Oct 2021 Drilling on 1VD Airborne Mag & VLF

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3657/99368_4a75206634245820_003full.jpg

The Project is centered on the community of Grey River, a deep-water, ice-free harbour on the south coast of the Island of Newfoundland, 32 km to the east of the town of Burgeo, and 38 km southeast of the Golden Hope JV gold project. The Alliance's claims straddle a deep-seated, east-west trending, ductile shear zone that separates a large enclave of Late Precambrian amphibolite, gabbro, metasediments, felsic metavolcanics and mafic orthogneisses from a batholith-scale, syn-kinematic suite of Siluro-Devonian granitoid rocks. The east-west shear zone at Grey River, and parallel structures immediately offshore, are fundamental crustal breaks along which metal-rich, mid- to late-Devonian granites were emplaced, along the southern coast of the Island.

Rocks in this area of southwestern Newfoundland are unusually enriched in Au, Mo, Cu, W, F and Bi. A 5 km- by 10 km-long area within, and adjoining the property, is particularly metal-rich, hosting:

  1. multiple mesothermal/intrusion-related Au-rich (+/- Bi-Ag-Sb-Pb-Zn) quartz veins
  2. a porphyry Mo-Cu deposit (Moly Brook)
  3. a vein-type wolframite-rich W deposit (Grey River #10)
  4. a diffusely bounded, high-purity, locally auriferous, silica deposit (Gulch Cove)

Each appears to be associated with features in the regional aero magnetics and are also reflected in regional Government lake-sediment geochemistry coverage. The primary focus of the Alliance's exploration is quartz-vein-hosted, structurally controlled / intrusion-related, high-grade Au (+/- Ag, Bi, Sb) in both the granitic and adjacent metamorphic terrains.

Previous exploration at Grey River has identified gold mineralization in several settings:

  1. in base-metal-rich and sulphide-poor, quartz veins and veinlets in the gneisses and related metamorphic rocks, including regional-scale silica bodies
  2. in quartz veins with coarse-grained sulphides in granite
  3. in sulphide-poor, quartz stock-works in sericitized granite
  4. in stockwork-style quartz and quartz-sulphide veinlets with or without pervasive silica replacement in granite

Gold grades reported from historic grab and channel samples range from less than 1 g/t to more than 225 g/t Au, locally with 200-300 g/t Ag, with or without anomalous Bi, Sb and W. The 225 g/t Au chip sample is from a 20-30 cm-wide zone of pyritic alteration immediately adjacent to an 8 km-long, diffusely-bounded, quartz-rich zone. The highly anomalous value coincides with the large, elongated, high-purity silica body (12M tonnes >95% SiO) which was drilled by the Newfoundland Government in 1967, as part of an Island-wide, silica-assessment program. The silica body lies in mica schists, along the boundary with amphibolite gneisses and mica-schists, and along the flank of a prominent aeromagnetic high. Its origin is unclear with past workers proposing different origins including meta-quartzite, quartz vein, silica replacement. The style, grades, setting and Au-Ag-Bi-W-Sb geochemical signature of the gold mineralization, have drawn comparisons with the high-grade Pogo gold mine in the Tintina Gold Belt of Alaska and Yukon which is gold in diffusely bounded quartz bodies in amphibolite grade gneisses. The Pogo mine has produced 3.9 million oz gold at 13.6 g/t gold (to end of 2019), with Mineral Reserves of more than 7 million oz gold.

Tim Froude, President and CEO of Sokoman, says: "We are very pleased to begin this program at Grey River, which will be the first drilling program directed at the gold potential of the large quartz zones or bodies in the eastern portion of the property. Historical sampling results include chip/channel samples of 225 g/t Au, and widespread grab-sample values from less than detection to 3.8 g/t Au. None of the gold enriched areas, which occur over an 8 km strike length of the silica body, have been drill tested. We are focusing on areas of anomalous gold with 8 to 10 reconnaissance holes using data from the recently-completed, high-resolution, magnetic/electromagnetic airborne survey that identified potential structures correlating with the gold enriched areas."

Steve Stares, President and CEO of Benton, says: "With the rapid pace in which the Alliance has advanced the Grey River project to its inaugural drill program, I'm very excited to see what this large silica system might hold as we carry out this first phase of drilling."

QP

This news release has been reviewed and approved by Timothy Froude, P. Geo., a "Qualified Person" under National Instrument 43-101 and President and CEO of Sokoman Minerals Corp.

COVID-19 Protocols

To ensure a working environment that protects the health and safety of the staff and contractors, Sokoman is 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 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, 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 the province of Newfoundland and Labrador, Canada. Sokoman's primary focus is its portfolio of gold projects; flagship, advanced-stage 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. Sokoman also recently entered into a strategic alliance with Benton Resources Inc. through three, large-scale joint-venture properties including Grey River, Golden Hope and Kepenkeck in Newfoundland.

Sokoman now controls, independently and through the Benton alliance, over 150,000 hectares (>6,000 claims - 1500 sq. km), making it one of the largest landholders in Newfoundland, in Canada's newest and rapidly-emerging gold districts. The Company 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 which 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.

Sokoman would like to thank the Government of Newfoundland and Labrador for financial support of the Fleur de Lys Project through the Junior Exploration Assistance Program.

To learn more, please contact:

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

CHF Capital Markets
Cathy Hume, Director, Investor Relations
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

Website: www.bentonresources.ca www.sokomanmineralscorp.com
Twitter: @BentonResources@SokomanMinerals
Facebook: @BentonResourcesBEX@SokomanMinerals
LinkedIn:@BentonResources, @SokomanMinerals

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward- looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Minerals Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Minerals Corp.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99368

News Provided by Newsfile via QuoteMedia

The Conversation (0)
Canoe on the shore of Boundary Lake, Minnesota, with "Weekly Editor's Picks" text overlay.

Editor's Picks: Trump to Lift Minnesota Mining Ban, Dundee Buys Adriatic, China Tightens Rare Earth Grip

Here's a quick recap of some of the most impactful resource sector news items for the week.

The period saw the Trump administration move to reverse a Biden-era ban on copper and nickel mining near Minnesota’s Boundary Waters, while Dundee Precious Metals (TSX:DPM,OTC Pink:DPMLF) penned a deal for assets in Bosnia and Herzegovina and Serbia, and China exerted control over rare earth mines in Myanmar.

Keep reading...Show less
Juggernaut Exploration (TSXV:JUGR)

Juggernaut Files for Approval of Private Placement Financing

Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut the Company is pleased to announce that it has filed documents with theTSX Venture Exchange (the “Exchange”) seeking conditional approval of its $0.64 unit (“Unit”) private placement financing (the “Financing”) for aggregate gross proceeds of $1.1 million.

The Financing consists of 1,718,731 Units, each Unit consisting of 1 common share of the Company and 1 common share purchase warrant, each warrant being exercisable at $0.84 for 5 years, subject to the right of the Company to accelerate the exercise period to 30 days if, after the 4-month hold has expired, shares of the Company close at or above $1.50 for 10 consecutive trading days. Proceeds of the Financing will be used for general corporate and operating purposes.

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces Warrant Exercise

Empire Metals Limited ("Empire" or "the Company") (LON:EEE)(OTCQB:EPMLF), the AIM-quoted resource exploration and development company, announces that it has received notification from SP Angel Corporate Finance LLP, Nominated Adviser and Broker to the Company, of the exercise of a warrant over 70,000 new ordinary shares of no par value in the share capital of the Company (the 'New Ordinary Shares') at a price of £0.06 per share. Accordingly, the Company has today issued the New Ordinary Shares to the warrant holder for an aggregate cash value of £4,200. The Company has also received notification from Shard Capital Stockbrokers, Broker to the Company, of the exercise of a warrant over 689,988 new ordinary shares of no-par value in the share capital of the Company (the 'New Ordinary Shares') at a price of £0.105 per share. Accordingly, the Company has today issued the New Ordinary Shares to the warrant holder for an aggregate cash value of £72,448.74.

Keep reading...Show less
Aston Bay (TSXV:BAY)

Aston Bay and American West Metals Announce Drilling Preparations Underway at the Storm Project, Nunavut, Canada

Camp opening and logistics have commenced with geophysics and drilling to follow in the coming weeks

Aston Bay Holdings Ltd. (TSXV:BAY)(OTCQB:ATBHF) ("Aston Bay" or the "Company") is pleased to announce the commencement of activities at the Storm Copper Project ("Storm" or the "Project") on Somerset Island, Nunavut. American West Metals Limited ("American West"), the Project operator, is conducting the exploration program. Aston Bay and American West have formed a 20/80 unincorporated joint venture with respect to the Storm Project property, with Aston Bay maintaining a free carried interest until a decision to mine is made upon completion of a bankable feasibility study.

Keep reading...Show less
Osisko Metals (TSXV:OM)

Osisko Metals Intersects 0.33% Cu Over 258 Metres at Gaspé

Includes 15.6 Metres Averaging 1.47% Cu and 8.5 g/t Ag

E Zone Skarn Returns 29.7 Metres Averaging 1.92% Cu and 15.2 g/t Ag

Keep reading...Show less
Small sack full of Australian money.

FireFly Metals to Add AU$95 Million to Coffers With Equity Raising

FireFly Metals (ASX:FFM,TSX:FFM,OTC Pink:MNXMF) has attained firm commitments to raise up to about AU$95 million, giving it a total of AU$135 million for its multi-pronged growth strategy.

The company highlighted on Tuesday (June 10) that the equity financing will be completed via the issuance of approximately 94.7 million fully paid ordinary shares; it will receive around AU$1 per new share.

The funds will be raised via three transactions, with the first being an AU$11.2 million charity flow-through placement to Canadian investors. This will be followed by a AU$54.9 million two-tranche institutional placement, as well as a AU$28.8 million fully underwritten Canadian bought-deal offering with BMO Capital Markets.

Keep reading...Show less

Latest Press Releases

Related News

×