St. John’s, NL, March 16, 2022 – Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (“Sokoman”) and Benton Resources Inc. (TSXV: BEX) (“Benton”) together (the “Alliance”), are pleased to announce the results from the maiden drill program at Grey River, Newfoundland. The Alliance reports that the drilling has returned multiple intersections in drill holes covering 5.0 kilometers of strike length and is open in all directions. The results are highlighted by GR-21-01, the easternmost hole drilled, that intersected three distinct gold zones including a high-grade interval of 10.58 g/t Au over 1.80 m including 50.13 g/t Au over 0.35 m.
Program highlights include:
Timothy Froude, P. Geo., President and CEO of Sokoman states; “The first drilling that tested the gold potential of this huge system has exceeded our expectations. It is hard to believe that the area has never been drilled for gold even though gold was first reported from the property in the 1980s. In addition to the assays in the table, broad zones of anomalous Au mineralization, from 5 to 250 ppb, were intersected in all holes. More exploration is required to understand the controls on the gold mineralization particularly the high-grade zones which are found in two areas on the property over four kilometers apart. The highest-grade results are from the easternmost hole (GR-21-01) and all the mineralized zones are open in every direction.”
Stephen Stares, President and CEO of Benton states; “It is important for shareholders to understand the scale and potential of this project. We’ve essentially tested random areas of a huge silica zone to see if the system was carrying gold mineralization at depth. This maiden drill program has exceeded our expectations, and not only did we hit gold in every hole over 5 km, but we’ve also confirmed high grades which is open in all directions. The alliance is very excited to get back working on this project and permitting for a more extensive exploration program including 25 to 30 drill holes is underway. I truly believe this very large (>10 km) silica system could be host to a very significant gold deposit and I can hardly wait to get drills turning again.”
Gold mineralization is associated with extensive silica zones containing 2%–20% disseminated and stringer pyrite in the >10 km quartz/silica body in the eastern half of the property. The higher grades appear to be associated with discreet quartz-sulphide veins that cut the silica body at a low angle. Historic grab samples, and recent grab samples taken by Sokoman and Benton personnel (see September 2, 2021 press release), have given gold values ranging from 5 ppb to 225 g/t Au and drilling has confirmed the gold mineralized zones are extensive. Previously released assay values from GR-21-01 (37.65 g/t Au over 0.35 m) have increased to 50.13 g/t Au over 0.35 m due to re-assaying using the metallic screen method suggesting that free gold is present.
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 mine, to the end of 2019, produced 3.9M oz gold at 13.6 g/t Au (Northern Star Resources, November 22, 2021).
Noteworthy of the Grey River project is:
- No previous drilling for gold in the silica zone which has been mapped over a 10 km strike length and remains open – most holes collared in, and ended in, the silica zone
- Gold mineralization has been located in five holes over a 5 km strike length
- Gold zones in multiple drill holes with grades up to 50.13 g/t Au
- 25–30 drill holes planned to start spring/early summer 2022
This news release has been reviewed and approved by Timothy Froude, P.Geo., President and CEO of Sokoman Minerals Corp., a ‘Qualified Person’ under National Instrument 43-101.
To ensure a working environment that protects the health and safety of the staff and contractors, Sokoman and Benton are operating under federally and provincially mandated and recommended guidelines during the current COVID-19 alert level.
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 including the flagship, 100%-owned Moosehead Project, currently the focus of an ongoing 100,000 m drill program, as well as the Crippleback Lake (optioned to Trans Canada Gold Corp.) and East Alder (optioned to Canterra Minerals Corporation) projects along the Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project in northwestern Newfoundland, which is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland, and Cononish in Scotland. In 2021, the Company entered into a strategic alliance with Benton Resources Inc. through three large-scale joint venture properties in Newfoundland including Grey River Gold, Golden Hope and the Kepenkeck Properties. Sokoman now controls independently and through the Benton 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 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 that has Direct Shipping Ore (DSO) potential.
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 Lithium, 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 Gold, Golden Hope and Kepenkeck in Newfoundland that are now being explored
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Alliance’s property.
For further information, please contact:
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x251
Timothy Froude, P.Geo., President & CEO
Stephen Stares, President & CEO
Website: www.sokomanmineralscorp.com , www.bentonresources.ca
Twitter: @SokomanMinerals , @BentonResources
Facebook: @SokomanMinerals , @BentonResourcesBEX
LinkedIn: @SokomanMinerals, @BentonResources
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.