Benton and Sokoman Announce Gold Discovery at the Grey River Gold Project, Southern Newfoundland
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Assays for six of 13 core samples, "super rushed" for assay, return from 1.34 to 37.64 g/t Au.
Thunder Bay, Ontario--(Newsfile Corp. - November 25, 2021) - Benton Resources Inc. (TSXV: BEX) ("Benton") and Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman"), together (the "Alliance"), are pleased to announce that preliminary results from the maiden drill program at Grey River, Newfoundland, have returned multiple drill intersections of potentially significant gold mineralization. Program highlights include:
- 1,026 m completed in five holes over a four-kilometre strike length
- Widespread pyrite mineralization encountered in all holes
- 643 core samples cut and delivered for assay of which 13 samples were "super rushed"for Au analysis; six of the 13 samples "super rushed" returned from 1.34 to 37.64 g/t Au
- 630 samples are pending assay results
|Grey River 2021 Drill Results - Grouped Assays|
|Hole #||Dip||Azimuth||Depth (m)||From (m)||To (m)||Length*||Au g/t|
|*Lengths are core lengths and believed to be 90% true length|
Grey River Drilling location map
To view an enhanced version of this graphic, please visit:
Drill holes GR-21-01 to GR-21-05 were drilled within a 5-km strike length (location map attached) of the 10-km-long quartz/silica zone located 4 km east of the community of Grey River. Drilling operations including crew changes, drill moves, core logging and sampling, as well as camp logistics were helicopter supported with all personnel based in a remote fishing/hunting camp. Five drill holes totaling 1,026 m were completed with hole lengths ranging from 148 m to 235 m. A total of 643 samples ranging from 0.35 m to 1.25 m in length were cut onsite using a diamond core saw. Samples were flown to the town of Burgeo and then delivered to Eastern Analytical Ltd. in Springdale, Newfoundland by road transport halfway through and at the end of the program. Thirteen samples were "super rushed" with the remaining 630 samples awaiting gold analysis by standard fire assay for Au and ICP analysis for other elements. Samples assaying >1 g/t gold, including the "super rush" samples, will be re-analyzed by the "metallics" method.
Gold mineralization in the eastern-half of the property is associated with zones of disseminated and stringer pyrite (from 2-20% pyrite) in the 10-km-long quartz/silica body, and in discreet quartz veins that cut the body. Historic grab samples, and recent grab samples taken by Benton and Sokoman personnel (see September 2, 2021 press release), have given gold values ranging from 50 ppb to a maximum of 225 g/t Au. No prior drilling for gold has taken place in or near the quartz/silica body.
Stephen Stares, President and CEO of Benton, states; "This is truly an exciting time for the Alliance. We've encountered two significant intercepts in our first hole with a significant number of assays pending. This hole is located 4 km east of the surface high-grade gold encountered from our prospecting program. We believe this very large quartz system could be quite significant and we're excited to plan the next phase of diamond drilling."
Timothy Froude, P. Geo., President and CEO of Sokoman, states; "These are outstanding results from reconnaissance drill holes on a property that has seen virtually no exploration for gold beyond sporadic grab sampling. The results reported are from three groups of consecutive samples from separate zones of pyrite mineralization from the first two holes completed. We decided to analyze a limited number of samples under "super rush" instructions to see if gold was present, as all that is known about gold in this area is that it is associated with pyrite. Needless to say, we are extremely pleased and already have more than enough evidence to support drilling in 2022. The Grey River property was acquired jointly by the Sokoman/Benton Alliance, which is targeting district scale gold opportunities in Newfoundland. Sokoman is now one of the largest land holders in Newfoundland and is sufficiently funded to advance our portfolio of properties."
Previous workers have compared the gold mineralization at Grey River to the high-grade Pogo gold mine in the Tintina district of Alaska. The Pogo gold mine, to the end of 2019, produced 3.9M oz gold at 13.6 g/t. March 31, 2021, Probable Mineral Reserves were 5.9M tonnes @ 8 g/t for 1.5M oz and Indicated plus Inferred Mineral Resources were 23M tonnes @ 9.4 g/t for 6.9M oz. gold (see Northern Star Resources website, November 22, 2021. Mineral Resources are inclusive of Mineral Reserves. These resource figures are JORC-compliant and not NI 43-101-compliant. NI 43-101 regulations do not allow Indicated and Inferred Resources to be combined in public disclosures).
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.
Analytical Techniques / QA/QC
All core samples submitted for assay were saw cut by Sokoman personnel with one-half submitted for assay and one-half retained for reference. Samples were delivered in sealed bags directly to the lab by Sokoman personnel. Samples, including duplicates, blanks and standards, were submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold analysis using standard fire assay methods as well as for ICP 34 analysis. Industry accepted standards, as well as a blank, were submitted every 20 samples in addition to the in-house standards and duplicate policies of Eastern Analytical Ltd. which is an accredited assay lab that conforms to requirements of ISO/IEC 17025.
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 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 Newfoundland & Labrador, Canada. The company's primary focus is its portfolio of gold projects Moosehead, Crippleback Lake 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. The company 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. The Alliance recently announced the discovery of potentially significant lithium bearing pegmatite dikes on the Golden Hope JV with grab sample values up to 2.37% Li2O having been returned from a dike swarm measuring over two km in strike length and over one km in apparent width. Sokoman controls one of the largest land holdings in Newfoundland with over 50,000 hectares (2,000 km2) of highly prospective ground 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, or other properties referenced in this news release, is not necessarily indicative of mineralization hosted on the company's property.
To learn more, please contact:
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x 251
Benton Resources Inc.
Stephen Stares, President & CEO
Sokoman Minerals Corp.
Timothy Froude, P.Geo., President & CEO
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/105078
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