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)
Lobo Tiggre, copper bars.

Lobo Tiggre: Copper is My Highest-Confidence Trade for 2025 — Here's Why

Lobo Tiggre, CEO of IndependentSpeculator.com, gave the Investing News Network his updated thoughts on the US economy, as well as his outlook for gold, silver and uranium in 2025.

However, he said his highest-confidence trade for next year is copper.

"I think that it's easier to see — and highly likely to see — copper moving higher next year," Tiggre explained.

Keep reading...Show less
Large chunk of copper.

29Metals Shares Feasibility Study and Final Investment Decision for Gossan Valley Project

29Metals (ASX:29M) has announced a feasibility study and final investment decision for the Gossan Valley project at its Golden Grove volcanic-hosted massive sulphide mine in Western Australia.

The feasibility study is an update to the 2022 version of the document. It outlines production of 4,000 tonnes of copper and 20,000 tonnes of zinc annually at Gossan Valley over an initial mine life of seven years.

CEO James Palmer said the development of Gossan Valley is the "next logical development option" when it comes to moving forward at Golden Grove, which was first discovered in 1971.

Keep reading...Show less
Somerset Minerals Logo

Acquisition of High-Grade Copper Project Adjacent to White Cliff Minerals

Somerset Minerals Ltd (“Somerset” or the “Company”) (ASX:SMM) is pleased to advise that it has entered into a conditional agreement to acquire 100% of the issued capital of Sentinel Resources Pty Ltd (“Sentinel”), which, through its local subsidiary, holds the Coppermine Project (the “Project”) in Nunavut, Canada.

Importantly, the Coppermine Project hosts 1,055 km2 of the prospective Copper Creek Formation basalts, and is interpreted to include the strike extensions to White Cliff’s high priory targets of Vision, Stark, Thor and Rocket (Figure 2 & 3), with the prospectivity of the wider project area also supported by extensive surface sampling and historic exploration (Table 1). Importantly, Somerset holds the ground entirely around and along strike from White Cliff’s recently acquired Danvers prospect which contains a non-JORC or NI 43-101 resource of 4.16Mt @ 2.96% Cu.

Keep reading...Show less
US$100 bills.

Lundin Mining to Divest Neves-Corvo and Zinkgruvan Operations for US$1.52 Billion

Lundin Mining (TSX:LUN,OTC Pink:LUNMF) has entered a definitive agreement to sell its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden (STO:BOL) for up to US$1.52 billion.

The sale, announced by the company on Monday (December 9), will see Boliden acquire full ownership of Somincor, the company operating Neves-Corvo, as well as Zinkgruvan Mining Aktiebolag and its associated entities.

Lundin expects to receive upfront cash consideration of US$1.37 billion at closing, based on financial conditions as of August 31, 2024. Interest will accrue at 5 percent annually until the closing date.

Keep reading...Show less

Lundin Mining Announces Sale of Neves-Corvo and Zinkgruvan for Total Consideration of up to $1.52 Billion

Lundin Mining logo (CNW Group/Lundin Mining Corporation)

TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") announces today it has signed a definitive agreement to sell its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden AB (OM: BOL) ("Boliden") for up to $1.52 billion in total consideration (the "Transaction"). Unless otherwise stated, all numbers are presented in United States dollars.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Business handshake.

Rio Tinto and Sumitomo Partner to Advance Winu Copper-Gold Project

Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) has signed a term sheet with Sumitomo Metal Mining (TSE:5713) for a joint venture to advance the Winu copper-gold project in Western Australia.

The partnership, announced on Wednesday (December 4), seeks to develop both companies’ exploration initiatives.

Sumitomo will acquire a 30 percent equity stake in the Winu project for US$399 million, including an initial payment of US$195 million and US$204 million in deferred considerations tied to project milestones and other conditions.

Keep reading...Show less

Latest Press Releases

Related News

×