Sokoman Minerals Corp. ("Sokoman") and Benton Resources Inc. ("Benton"), members of a joint exploration alliance previously announced on May 27, 2021 (together, "the Alliance"), are pleased to announce they have received high-grade gold assays up to 134.46 g/t Au (visible gold noted in sample) at the Grey River Joint Venture located on the south coast of Newfoundland.
The Alliance collected a series of grab and chip samples from outcrop and local float, and assays range from less than detection to 134.46 g/t Au (sampling details provided below). The sampling focused on an area roughly 500 m by 300 m immediately west of Gulch Cove where historical gold values of 225 g/t Au were reported by previous workers (see map).
The high-grade visible gold-bearing sample (480309) is located a few metres from tidewater and consisted of a 0.50 cm chip believed to be at the same location as the 225 g/t Au historical sample reported by previous workers. The sample also contained anomalous bismuth (>1000 ppm Bi), and silver (>6 ppm Ag), for which overlimit assaying is pending. A second sample (480310), contiguous with the aforementioned sample, returned 3.09 g/t Au from a 30 cm chip. In addition, a number of anomalous grab samples ranging from less than detection to 1.22 g/t Au were returned from the sampling over a 500 m strike length of the quartz zone that has been mapped by the government over an 8 kilometre E-W strike length and up to 300 m in width. Further sampling along this trend to the west has been completed in recent days and submitted for assay.
The Alliance has also completed sampling of five archived drill holes that were drilled for silica by the Newfoundland government in 1968. The drilling took place approximately 2 kilometres east of where the high-grade results are located. Examination of the old cores revealed up to 2% disseminated pyrite locally, and for which no records of gold assaying could be found. A total of 23 samples were taken that ranged from 0.25 m to 2.80 m in length with an average length of 1.21 m. Samples were sent to Eastern Analytical Ltd. in Springdale, NL for Au and ICP analysis.
The Alliance is also very pleased to announce that drilling permits have been received, and it intends to proceed immediately with sourcing a drill and crew, as well as addressing the logistical issues that will be faced. Drilling will most likely take place in October when conditions on the South Coast are more amenable to flying as it will be a helicopter-supported program. Total metres and number of holes will be refined once the geophysics has been modelled with the assay data and geology.
A recently completed Heliborne High Resolution Magnetic and Matrix Digital VLF-EM Survey flown by Terraquest Ltd. totaling 1099-line kilometres is currently being processed and will be used to further refine drill targets on the property.
The Grey River Project is targeting high-grade vein-hosted gold mineralization similar in style to the world class Pogo Mine in Alaska with past production of more than four million ounces of gold and current reserves of 5.9 Mt @ 8.0 g/t gold (1.5 million ounces gold) and resources of 23 Mt @ 9.8 g/t gold (6.9 million ounces gold). Source: Northern Star Resources Website - August 2021.
Mineralization hosted at the Pogo Mine in Alaska is not necessarily indicative of mineralization hosted on the Grey River property.
This news release has been reviewed and approved by Timothy Froude, P.Geo., President and CEO of Sokoman Minerals Corp., and Nathan Sims, P.Geo., Senior Exploration Manager for Benton Resources Inc., both the 'Qualified Person' under National Instrument 43-101.
The samples were collected and delivered in sealed bags to Eastern Analytical Ltd. in Springdale, NL, by company personnel. Eastern Analytical Ltd. is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. All samples were submitted for 34 element ICP analysis and gold by fire assay analysis. Two samples, 480309 and 480310, were submitted for total pulp metallics and gravimetric finish, based on the presence of visible gold in sample 480309. Analysis includes: the whole sample is crushed to -10 mesh; then pulverized to 95% -150 mesh. The total sample is weighed and screened 150 mesh; the +150 mesh fraction is fire assayed for Au, and a 30 g subsample of the -150 mesh fraction is fire assayed for Au; with a calculated weighted average of total Au in the sample reported as well. Duplicates of selected samples are analyzed in addition to the in-house standard and duplicate policies of Eastern Analytical Ltd. All reported assays are uncut.
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.