Sokoman Announces Strategic Alliance with Benton Resources to Acquire Gold Opportunities in Newfoundland

Rhea-AI Summary

Sokoman Minerals Corp. (SICNF) has entered a strategic alliance with Benton Resources Inc. to jointly acquire and explore gold opportunities in Newfoundland. They have staked the 3,146 claim Golden Hope Joint Venture, covering 78,650 hectares, making it one of the largest gold properties on the island. This Property is linked to significant gold deposits and discoveries, including Sokoman's Moosehead Project. Additionally, the partnership involves a 50-50 Joint Venture on Benton’s Kepenkeck Gold Property, enhancing their exploration prospects in the Central Newfoundland Gold Belt.

Positive

• Strategic alliance with Benton Resources to expand gold exploration.
• Acquisition of Golden Hope JV adds significant land area (78,650 hectares) for exploration.
• Potential synergies from shared knowledge and resources between Sokoman and Benton.

Negative

• None.

Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (the “Company” or “Sokoman”) is pleased to announce that it has entered into a strategic alliance with Benton Resources Inc. (“Benton”) (TSXV: BEX) to jointly acquire and explore gold opportunities in Newfoundland. The partners are also pleased to announce the acquisition, by staking, of the 3,146 claim (78,650 hectares) Golden Hope Joint Venture (“Golden Hope JV” or the “Property”) in south-central Newfoundland, one of the largest gold properties on the Island. (See map attached).

Sokoman's Property Locations (Photo: Business Wire)

The Property covers extensions of two major structures linked to significant gold prospects and deposits in southern Newfoundland. Rock units and structures on the Property are likewise related to those associated with new orogenic gold discoveries in central Newfoundland, including Sokoman’s 100%-owned Moosehead Project and New Found Gold’s Queensway Project. The alliance will also include a 50-50 Joint Venture on Benton’s recently acquired Kepenkeck Gold Property, which, like the Golden Hope JV, lies along trend from Canstar Resources’ Golden Baie Property in the Central Newfoundland Gold Belt (see Benton Resources news release dated May 6, 2021).

The newly staked Golden Hope JV lies at the northwest edge of the Hermitage Flexure, the predominant geological feature of the south Newfoundland Appalachians. The western Hermitage Flexure is a structurally complex region with a diverse mineral endowment. The most prominent structures on the Property, and the focus of imminent exploration, are a linked system of west-verging thrust faults (Bay D’Est Fault Zone) and a transverse, wrench fault system (Gunflap Hills Fault Zone). These types of fault zones can be gold-bearing, and correlative rocks and structures elsewhere in Newfoundland are a prime focus of ongoing gold exploration and the site of major gold discoveries (e.g. Central Newfoundland Gold Belt). Historical exploration by major companies in the western Hermitage Flexure region led to the major gold discoveries at Hope Brook and Ca

FAQ

What is the purpose of Sokoman's alliance with Benton Resources?

The alliance aims to jointly acquire and explore gold opportunities in Newfoundland.

How large is the Golden Hope Joint Venture property?

The Golden Hope Joint Venture covers 3,146 claims, totaling 78,650 hectares.

What are the geological features of the Golden Hope JV?

It lies at the northwest edge of the Hermitage Flexure and features complex geological structures associated with major gold discoveries.

What other properties are included in the partnership?

The partnership also includes a 50-50 Joint Venture on Benton’s Kepenkeck Gold Property.

What is the significance of the Central Newfoundland Gold Belt?

The Central Newfoundland Gold Belt is known for recent significant gold discoveries, making it a prime area for exploration.