Benton and Sokoman Announce Exploration Update for Kraken Lithium and Hydra Cesium Discoveries in Southwestern Newfoundland
Thunder Bay, Ontario--(Newsfile Corp. - March 28, 2023) - Benton Resources Inc. (TSXV: BEX) ("Benton") and Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman") together, (the "Alliance") are pleased to provide an exploration update and outline immediate plans for 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 high-grade mineralization are now known as the Kraken Lithium Pegmatite Field and the Hydra Dyke. Prospecting, trenching, mapping, soil geochemistry, and three (3) phases of diamond drilling during the 2021 and 2022 field seasons, have resulted in multiple new discoveries which remain wide open for expansion.
Golden Hope JV Project - Kraken Lithium Pegmatite Field to Hydra Dyke
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The Alliance would like to report that it has also renewed and received approval for its camp permits along with continued exploration permits for the entire GHJV land position. These permits allow for a fourth phase diamond drilling program consisting of a minimum of 5,000 metres along with prospecting, soil sampling, and geological mapping along the highly-favourable trend.
The fourth phase, 5,000-metre drill program is anticipated to start within the next few weeks and camp preparation will start as soon as next week. Highlights from earlier phases of drilling at the Kraken Lithium Pegmatite Field have returned very promising results including:
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 on the newly discovered Killick Zone
0.95% Li2O over 8.40 m from 47.8 m to 56.2 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
Lithium-in-soil geochemical anomalies of similar strength to the discovery dyke area lie 4 km along strike to the east of known dykes and are top priority trenching targets
The Alliance is also pleased to report that it has received drilling permits for the newly discovered cesium-tantalum-rubidium and lithium-rich Hydra Dyke, which is 12 km northeast of the Kraken Lithium Pegmatite Field. Initial channel sampling last fall at the Hydra Dyke returned results as high as 8.76% Cs2O, 0.41% Li2O, 0.025% Ta2O5, and 0.33% Rb2O over 1.20 m in channel sampling (see news release dated December 1, 2022). The Alliance is planning trenching to be followed by drilling as soon as the snow has melted.
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."
Tim Froude, President and CEO of Sokoman, says: "The 2023 exploration program at the GHJV is arguably one of the most important programs we will undertake. The results to date, from an area with no previous critical metal history, have already demonstrated the district-scale potential of the project. The 4 km long untested soil geochemical anomaly, directly on trend from our known dykes, will be one of the first areas targeted, and I will be very surprised if more dykes are not discovered. This still represents only 10% of the strike length of the system that we have under our control."
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 Benton/Sokoman personnel and delivered in sealed bags directly to the Grand Falls-Windsor prep lab by Benton/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 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 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.
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 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 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 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.
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: @BentonResources, @SokomanMinerals
Facebook: @BentonResourcesBEX, @SokomanMinerals
LinkedIn: @BentonResources, @SokomanMinerals
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.
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