- Oops!Something went wrong.Please try again later.
- Oops!Something went wrong.Please try again later.
Phase 1 Program Approximately 2,000 metres
Thunder Bay, Ontario--(Newsfile Corp. - October 12, 2021) - 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.
Grey River Project: Proposed Oct 2021 Drilling on 1VD Airborne Mag & VLF
To view an enhanced version of this graphic, please visit:
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:
multiple mesothermal/intrusion-related Au-rich (+/- Bi-Ag-Sb-Pb-Zn) quartz veins
a porphyry Mo-Cu deposit (Moly Brook)
a vein-type wolframite-rich W deposit (Grey River #10)
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:
in base-metal-rich and sulphide-poor, quartz veins and veinlets in the gneisses and related metamorphic rocks, including regional-scale silica bodies
in quartz veins with coarse-grained sulphides in granite
in sulphide-poor, quartz stock-works in sericitized granite
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."
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.
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
CHF Capital Markets
Cathy Hume, Director, Investor Relations
Phone: 416-868-1079 x 251
Benton Resources Inc.
Stephen Stares, President & CEO
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