Sokoman And Benton Report Kraken Lithium Discovery Best Drill Intercepts To Date
Soil sampling expands footprint
GH-22-27 cuts 15.23 m @ 1.04% Li2O; including 4.18 m @ 1.48% Li2O
St. John’s, NL, February 16, 2023 – Sokoman Minerals Corp. (TSXV:SIC) (OTCQB:SICNF) (“Sokoman”) and Benton Resources Inc. (TSXV:BEX) (“Benton”), together (the “Alliance”) are pleased to report the final assays from the Phase 3 drill program, completed in December 2022, on the Golden Hope Joint Venture. The drilling totalled 1,607 m in 11 drill holes including initial drilling on the Killick Zone (see October 18, 2022, and November 30, 2022 news releases), the Kraken Dyke and the Kraken West Dyke.
All three holes drilled at the Killick Zone (GH-22-25 to 27) gave the best lithium intersections on the project to date as follows:
GH-22-25 – multiple spodumene-bearing pegmatite dykes with 14.74 m of 0.64% Li2O, including 5.73 m of 0.92% Li2O
GH-22-26 – 26 m behind GH-22-25 – multiple spodumene-bearing pegmatite dykes with 9.5 m of 1.08% Li2O, including 2.15 m of 2.01% Li2O
GH-22-27 – 30 m N of holes 25 and 26 along strike – 15.23 m of 1.04% Li2O, including 4.18 m of 1.48% Li2O and 2.98 m of 1.23% Li2O.
The Killick Zone remains open in all directions.
Six holes tested the Kraken Discovery Zone (see Figure 1) (see June 30, 2022 news release) with three, GH-22-28, 29, and 35 intersecting multiple spodumene-bearing pegmatite dykes, including 2.10 m of 1.02% Li2O in hole GH-22-28, 2.10 m of 1.18% Li2O in hole GH-22-29 and 1.50 m of 1.25% Li2O in hole GH-22-35.
Two drill holes on the Kraken West Dyke and one hole on the Kraken Discovery Zone had no visible spodumene, with only narrow (<1 m) pegmatite dykes in hole GH-22-30. A summary of the results follows in Table 1, drill locations are shown in Figure 1, cross-sections in Figures 2 and 3 and lithium in soil data in Figure 4.
Soil geochemistry continues to expand the overall footprint of potential lithium- (+/- cesium, tantalum and rubidium) enriched dykes at least 2,000 m to the northeast of the known mineralization at the Killick Zone (see Figure 4). Soil anomalies in lithium are of a similar tenor (less than detection limit to 390 ppm Li) to those over known mineralization that have recently been received and are priority prospecting targets for this spring.
A minimum 5,000 m Phase 4 drill program is planned to begin in early spring along with continued prospecting, geological mapping, and soil geochemistry to continue through 2023.
Table 1 – Summary of Drill Results – Phase 3 drilling
* Core lengths – true thickness believed to be 90% of core lengths
NVS – no visible spodumene
NDI – no dyke (pegmatite) intersected
Figure 1 – Golden Hope Project – Plan Map GH-22-25 to GH-22-35
Figure 2 – Killick Zone Drill Section 5299206N – Holes GH-22-25 and GH-22-26
Figure 3 – Killick Zone Drill Section 5299242N – Hole GH-22-27
Figure 4 – Golden Hope Project – Lithium in Soils Map
The Alliance has applied for a drill permit for the newly discovered Hydra Zone, where a cesium +/-lithium/tantalum/rubidium-rich dyke was discovered in late 2022, 12 km to the northeast of the Kraken Dyke Swarm. Channel sampling of the dyke gave values of 1.20 m @ 8.76% Cs2O, 0.405% Li2O, 0.025% Ta2O5, and 0.33% Rb2O incl. 0.40 m @ 13.57% Cs2O, 0.316% Li2O, 0.012% Ta2O5, and 0.38% Rb2O. Recentcesium, lithium, tantalum, and rubidium results extend the cesium-rich dyke(s) to at least a 60 m strike length, remaining open to the north, south, and to depth. Results of three grab samples of coarse-grained pegmatite, located up to 40 m to the north of the channel samples, ranged from 133 to 4,210 ppm Cs, 53 to 852 ppm Li, 71 to 98 ppm Ta, and 201 to 3,410 ppm Rb.
Tim Froude, President and CEO of Sokoman, says: “We are very pleased with the latest results from the Golden Hope JV. Killick is turning into an interesting and higher-grade zone and combined with the soil geochemical results, this means we still do not know the full extent of the lithium and other critical minerals potential on this property. It remains entirely possible that the best mineralization may be as yet untouched, and we look forward to an exciting year at Golden Hope.”
Stephen Stares, President and CEO of Benton, says: “Benton is extremely pleased with the new results, especially with the new Killick discovery, which is wide open for expansion in every direction. To date, every drill program has been very successful and has provided excellent information that continues to guide us into the next drill phase and exploration follow-up. We are looking forward to our upcoming spring-summer program and the potential of our continued success in discovering these critical metals.”
QA/QC Protocols
Rock and core samples are submitted to SGS Canada Inc. in Grand Falls-Windsor, Newfoundland for preparation and then sent to the SGS Canada Inc. analytical laboratory in Burnaby, British Colombia. All samples submitted were taken or saw cut by Sokoman personnel and delivered in sealed bags directly to the Grand Falls-Windsor prep lab by Sokoman personnel. SGS Canada Inc. (SGS) is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples are analyzed using SGS’s GS_IMS91A50 method that delivers a 56-element package utilizing sodium peroxide fusion, ICP-AES and ICP-MS analytical techniques. All reported assays are uncut. Soil samples were collected by Sokoman/Benton personnel utilizing a standard Dutch-auger collecting B Horizon soil where possible. Where B was not present, the material collected was noted. The soil samples were sent to Eastern Analytical Ltd., in Springdale, NL, for Li, Ta, Sn and Nb assaying by a four-acid digestion and analyzed by ICP-OES. Eastern Analytical Ltd. in February 2014 achieved ISO 17025 accreditation (for more details on the scope of accreditation visit the CALA website).
QP
This news release has been reviewed and approved by Timothy Froude, P.Geo., President and CEO of Sokoman Minerals Corp., and Stephen House, P.Geo., VP Exploration for Benton Resources Inc., both the ‘Qualified Person’ under National Instrument 43-101.
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: flagship, 100%-owned 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, which is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland, and Cononish in Scotland. The company also recently entered into a strategic alliance with Benton Resources Inc. through three large-scale joint-venture properties including Grey River Gold, Golden Hope, and Kepenkeck in Newfoundland. 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 of Gold, Silver, Nickel, Copper, Platinum Group Elements, and most recently Lithium and Cesium assets. In addition, it currently holds large equity positions in other mining companies that are advancing high-quality assets. Whenever possible, BEX retains net smelter return (NSR) royalties with potential long-term cash flow.
Benton also recently entered into a 50/50 strategic alliance with Sokoman Minerals Inc. (TSXV: SIC) through three large-scale joint-venture properties including Grey River Gold, Golden Hope, and Kepenkeck in Newfoundland that are now being explored.
For further information, please contact:
Sokoman Minerals
Timothy Froude, P.Geo., President & CEO
Phone: 709-765-1726
Email: tim@sokomanmineralscorp.com
Benton Resources
Stephen Stares, President & CEO
Phone: 807-475-7474
Email: sstares@bentonresources.ca
CHF Capital Markets
Thomas Do, IR Manager
Phone: 416-868-1079 x 232
Email: thomas@chfir.com
Website: www.sokomanmineralscorp.com , www.bentonresources.ca
Twitter: @SokomanMinerals , @BentonResources
Facebook: @SokomanMinerals , @BentonResourcesBEX
LinkedIn: @SokomanMinerals, @BentonResources
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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.
