Sokoman and Benton Announce Start of 2023 Drilling Program at the Kraken Lithium and Hydra Cesium Discoveries in Southwestern Newfoundland
ST. JOHN'S, NL / ACCESSWIRE / May 2, 2023 / Sokoman Minerals Corp. (TSXV: SIC)(OTCQB:SICNF) ("Sokoman") and Benton Resources Inc. (TSXV:BEX) ("Benton") together, (the "Alliance") are pleased to announce the start of the 2023 drilling program which will see a minimum of 5,000 meters drilled on the 50-50 Golden Hope Joint Venture ("GHJV"). The GHJV was formed by the Alliance in 2021 to explore the mineral potential of an underexplored structural belt of rocks in southwestern Newfoundland hosting past-producing gold operations. Within the first week of exploration, the Alliance had discovered the very first hard rock lithium dyke on the Island, and in the fall of 2022, the Alliance discovered the very first cesium-rich dyke. These two areas of mineralization are now known as the Kraken Lithium Pegmatite Field and the Hydra Dyke. Drilling will commence at the Killick Zone, part of the Kraken Lithium Pegmatite Field, where holes completed in late 2022 all returned significant lithium mineralization highlighted by the following.
Killick Dyke Drilling
1.04% Li2O over 15.23 m, including 4.18 m of 1.48% Li2O, and 2.98 m of 1.23% Li2O in GH-22-27 and, 9.50 m of 1.08% Li2O from GH-22-26
Other dykes tested include:
0.95% Li2O over 8.40 m, including 1.76% Li2O over 0.80 m in GH-22-01 on the Kraken Main Dyke
5.50 m at 1.16% Li2O within a wider intersection of 20.82 m averaging 0.60% Li2O in drill hole GH-22-15 on the East Dyke
Drilling will also test any new dykes uncovered during the ongoing soil geochemical and trenching program along strike to the east of the Kraken Lithium Pegmatite Field where in 2022, lithium-in-soil geochemical anomalies of similar strength to the discovery-dyke area lie four km along strike to the east of known dykes. A select number of holes will also be completed at the high-grade Hydra Dyke 12 km northeast of the Kraken Lithium Pegmatite Field once trenching and sampling have been completed. A 1.2 m-long channel sample collected at Hydra in late 2022 returned 8.76% Cs2O, 0.41% Li2O, 0.025% Ta2O5, and 0.33% Rb2O (see news release dated December 1, 2022[KC1] ). The dyke is only partially exposed (5 - 6 meters wide) and additional sampling is required to determine width of mineralization. All proposed work is fully permitted and funded with a $3 to $4 million budget for the entire lithium and cesium programs.
Tim Froude, President and CEO of Sokoman, says: "We are very pleased to be starting the 2023 drilling program and along with our JV partner Benton Resources, anticipate a successful program. The initial holes will target extending the Killick Dyke mineralization which has returned our best drill results to date, and once trenching has been completed at Hydra, testing the high-grade cesium mineralization defined in late 2022."
Stephen Stares, President and CEO of Benton says: "We are extremely excited to kick off the field season at the GHJV and I'm confident that we'll have another successful year on this newly discovered Lithium-Cesium belt. With our large land position, high demand for these much-needed critical metals and rapidly growing concerns to cut harmful emissions, Benton and Sokoman are truly in a rare position to unlock Newfoundland's potential for LTC-type pegmatite discoveries while increasing shareholder value."
QA/QC Protocols
Rock and core samples were 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/Benton personnel and delivered in sealed bags directly to the Grand Falls-Windsor prep lab by Sokoman/Benton 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 four-acid digestion and analyzed by ICP-OES. Eastern Analytical Ltd. achieved ISO 17025 accreditation in February 2014 (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 (available for option) and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project near Baie Verte in northwestern Newfoundland, that is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland, and Cononish in Scotland. The company entered 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 more than 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 Thunder Gold Corp (formerly 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 entered 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 Corp.
Timothy Froude, P.Geo., President & CEO
Phone: 709-765-1726
Email: tim@sokomanmineralscorp.com
Benton Resources Inc.
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
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.
SOURCE: Sokoman Minerals Corp.
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