- Benton Resources (BEX) and Sokoman Minerals (SIC) have staked claims and formed a strategic alliance to explore for gold in Newfoundland
- The companies’ new joint venture, Golden Hope, consists of 3,146 claims covering 786 km2 on two major gold-bearing structures
- The alliance also includes a 50-50 joint venture on Benton’s recently acquired Kepenkeck Gold Property
- The companies will host a joint webinar on May 27 at 2:00 pm ET to discuss the new alliance in detail
- Sokoman Minerals is a junior mineral exploration company focused on world-class deposits in Newfoundland and Labrador
- Benton Resources holds a diversified property portfolio in gold, silver, nickel, copper and platinum group elements
- Sokoman Minerals (SIC) is trading flat at $0.45 per share
- Benton Resources (BEX) is up by 7.89 per cent and is currently trading at $0.205 per share
Benton Resources (BEX) and Sokoman Minerals (SIC) have staked claims and formed a strategic alliance to explore for gold in Newfoundland.
Golden Hope
The companies’ new joint venture, Golden Hope, consists of 3,146 claims covering 786 km2 on two major gold-bearing structures in Southcentral Newfoundland.
Golden Hope lies at the Northwestern edge of the Hermitage Flexure, the predominant geological feature of the South Newfoundland Appalachians.
The most prominent exploration target on the property is a potentially gold-bearing system of West-verging thrust faults and a transverse wrench fault system.
The Western Hermitage Flexure remains largely underexplored despite known occurrences of gold and the presence of unsourced till, soil and stream sediment geochemical anomalies.
Kepenkeck Project
The alliance also includes a 50-50 joint venture on Benton’s recently acquired Kepenkeck Gold Property.
The Kepenkeck Project consists of 595 claim units over 15,625 hectares near the Northeastern extension of the Hermitage Flexure.
Recent prospecting completed by the vendor identified up to 2.45 g/t gold in grab samples and visible gold has been panned from till in two locations on the property.
Benton and Sokoman will share the cost of exploration and option payments and initial exploration will commence shortly.
Alliance Rationale
The alliance provides Benton shareholders with an opportunity to reduce exploration risk and employ Sokoman’s technical expertise while retaining a large percentage of projects in a flourishing gold mining district.
Benton and Sokoman will host a joint webinar on May 27 at 2:00 pm ET to discuss the new alliance in detail.
Sokoman Minerals is a junior mineral exploration company focused on world-class deposits in Newfoundland and Labrador.
Benton Resources is a Canadian-based project generator with a diversified property portfolio in gold, silver, nickel, copper and platinum group elements.
Sokoman Minerals (SIC) is trading flat at $0.45 per share as of 11:36 am ET.
Benton Resources (BEX) is up by 7.89 per cent and is currently trading at $0.205 per share as of 11:30 am ET.