Newsroom
Sokoman And Benton Announce Exploration Update For Kraken Lithium And Hydra Cesium Discoveries In Southwestern Newfoundland
St. Johns, NL, March 28, 2023 – Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (“Sokoman”) and, Benton Resources Inc. (TSXV: BEX) (“Benton”), 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
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.
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.”
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 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.
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 (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 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.
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.
For further information, please contact:
Sokoman Minerals
Timothy Froude, P.Geo., President & CEO
Phone: 709-765-1726
Email: tim@sokomanmineralscorp.com
Benton Resources
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.
Sokoman Minerals To Present At The Emerging Growth Conference On Wednesday, March 22, 2023
ST. JOHN’S, NL / ACCESSWIRE / March 20, 2023 / Sokoman Minerals Corp. (TSXV:SIC)(OTCQB:SICNF) (“Sokoman” or the “Company”) is pleased to announce that it has been invited to present at the Emerging Growth Conference on Wednesday, March 22, 2023 at 10:15am EST.
This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with the Company’s President and CEO, Tim Froude in real-time. Mr. Froude will provide the latest updates on Sokoman’s projects including flagship, 100%-owned Moosehead Gold in Central Newfoundland, and the Kraken Lithium Pegmatite project in Southwestern Newfoundland, followed by a Q&A session. Please submit your questions in advance to Questions@EmergingGrowth.com.
Please register HERE to ensure you are able to attend the conference and receive any updates that are released: https://goto.webcasts.com/starthere.jsp?ei=1595544&tp_key=e1808cf5bc&sti=sicnf
If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on EmergingGrowth.com and on the Emerging Growth YouTube Channel, http://www.YouTube.com/EmergingGrowthConference. We will release a link to that after the event.
About the Emerging Growth Conference
The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services, and other major announcements to the investment community from the convenience of their office, in a time-efficient manner.
The Conference focus and coverage include companies in a wide range of growth sectors, with strong management teams, innovative products and services, focused strategy, execution, and the overall potential for long-term growth. Its audience includes potentially tens of thousands of individual and institutional investors, as well as investment advisors and analysts.
All sessions will be conducted through video webcasts and will take place in the Eastern time zone.
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 in northwestern Newfoundland, which is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland, and Cononish in Scotland. The Company also 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
Timothy Froude, P.Geo., President & CEO
Phone: 709-765-1726
Email: tim@sokomanmineralscorp.com
CHF Capital Markets
Thomas Do, IR Manager
Phone: 416-868-1079 x 232
Email: thomas@chfir.com
Website: www.sokomanmineralscorp.com
Twitter: @SokomanMinerals
Facebook: @SokomanMinerals
LinkedIn: @SokomanMinerals
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward- looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Minerals Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Minerals Corp.
Sokoman And Benton Report Kraken Lithium Discovery Best Drill Intercepts To Date
Soil sampling expands footprint
GH-22-27 cuts 15.23 m @ 1.04% Li2O; including 4.18 m @ 1.48% Li2O
St. John’s, NL, February 16, 2023 – Sokoman Minerals Corp. (TSXV:SIC) (OTCQB:SICNF) (“Sokoman”) and Benton Resources Inc. (TSXV:BEX) (“Benton”), together (the “Alliance”) are pleased to report the final assays from the Phase 3 drill program, completed in December 2022, on the Golden Hope Joint Venture. The drilling totalled 1,607 m in 11 drill holes including initial drilling on the Killick Zone (see October 18, 2022, and November 30, 2022 news releases), the Kraken Dyke and the Kraken West Dyke.
All three holes drilled at the Killick Zone (GH-22-25 to 27) gave the best lithium intersections on the project to date as follows:
GH-22-25 – multiple spodumene-bearing pegmatite dykes with 14.74 m of 0.64% Li2O, including 5.73 m of 0.92% Li2O
GH-22-26 – 26 m behind GH-22-25 – multiple spodumene-bearing pegmatite dykes with 9.5 m of 1.08% Li2O, including 2.15 m of 2.01% Li2O
GH-22-27 – 30 m N of holes 25 and 26 along strike – 15.23 m of 1.04% Li2O, including 4.18 m of 1.48% Li2O and 2.98 m of 1.23% Li2O.
The Killick Zone remains open in all directions.
Six holes tested the Kraken Discovery Zone (see Figure 1) (see June 30, 2022 news release) with three, GH-22-28, 29, and 35 intersecting multiple spodumene-bearing pegmatite dykes, including 2.10 m of 1.02% Li2O in hole GH-22-28, 2.10 m of 1.18% Li2O in hole GH-22-29 and 1.50 m of 1.25% Li2O in hole GH-22-35.
Two drill holes on the Kraken West Dyke and one hole on the Kraken Discovery Zone had no visible spodumene, with only narrow (<1 m) pegmatite dykes in hole GH-22-30. A summary of the results follows in Table 1, drill locations are shown in Figure 1, cross-sections in Figures 2 and 3 and lithium in soil data in Figure 4.
Soil geochemistry continues to expand the overall footprint of potential lithium- (+/- cesium, tantalum and rubidium) enriched dykes at least 2,000 m to the northeast of the known mineralization at the Killick Zone (see Figure 4). Soil anomalies in lithium are of a similar tenor (less than detection limit to 390 ppm Li) to those over known mineralization that have recently been received and are priority prospecting targets for this spring.
A minimum 5,000 m Phase 4 drill program is planned to begin in early spring along with continued prospecting, geological mapping, and soil geochemistry to continue through 2023.
Table 1 – Summary of Drill Results – Phase 3 drilling
* Core lengths – true thickness believed to be 90% of core lengths
NVS – no visible spodumene
NDI – no dyke (pegmatite) intersected
Figure 1 – Golden Hope Project – Plan Map GH-22-25 to GH-22-35
Figure 2 – Killick Zone Drill Section 5299206N – Holes GH-22-25 and GH-22-26
Figure 3 – Killick Zone Drill Section 5299242N – Hole GH-22-27
Figure 4 – Golden Hope Project – Lithium in Soils Map
The Alliance has applied for a drill permit for the newly discovered Hydra Zone, where a cesium +/-lithium/tantalum/rubidium-rich dyke was discovered in late 2022, 12 km to the northeast of the Kraken Dyke Swarm. Channel sampling of the dyke gave values of 1.20 m @ 8.76% Cs2O, 0.405% Li2O, 0.025% Ta2O5, and 0.33% Rb2O incl. 0.40 m @ 13.57% Cs2O, 0.316% Li2O, 0.012% Ta2O5, and 0.38% Rb2O. Recentcesium, lithium, tantalum, and rubidium results extend the cesium-rich dyke(s) to at least a 60 m strike length, remaining open to the north, south, and to depth. Results of three grab samples of coarse-grained pegmatite, located up to 40 m to the north of the channel samples, ranged from 133 to 4,210 ppm Cs, 53 to 852 ppm Li, 71 to 98 ppm Ta, and 201 to 3,410 ppm Rb.
Tim Froude, President and CEO of Sokoman, says: “We are very pleased with the latest results from the Golden Hope JV. Killick is turning into an interesting and higher-grade zone and combined with the soil geochemical results, this means we still do not know the full extent of the lithium and other critical minerals potential on this property. It remains entirely possible that the best mineralization may be as yet untouched, and we look forward to an exciting year at Golden Hope.”
Stephen Stares, President and CEO of Benton, says: “Benton is extremely pleased with the new results, especially with the new Killick discovery, which is wide open for expansion in every direction. To date, every drill program has been very successful and has provided excellent information that continues to guide us into the next drill phase and exploration follow-up. We are looking forward to our upcoming spring-summer program and the potential of our continued success in discovering these critical metals.”
QA/QC Protocols
Rock and core samples are 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 personnel and delivered in sealed bags directly to the Grand Falls-Windsor prep lab by 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 a four-acid digestion and analyzed by ICP-OES. Eastern Analytical Ltd. in February 2014 achieved ISO 17025 accreditation (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 (optioned to Trans Canada Gold Corp.) and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project in northwestern Newfoundland, which 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 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 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.
For further information, please contact:
Sokoman Minerals
Timothy Froude, P.Geo., President & CEO
Phone: 709-765-1726
Email: tim@sokomanmineralscorp.com
Benton Resources
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.
Sokoman Reports Additional High-Grade Gold At Eastern Trend Moosehead Gold Project, Central Newfoundland
MH-22-505 cuts 21.35 m of 9.75 g/t Au from Eastern Trend; New Zone intersected at South Pond
St. John’s, NL, February 8, 2023 – Sokoman Minerals Corp. (TSXV:SIC) (OTCQB:SICNF) (the “Company” or “Sokoman”) is pleased to report significant gold mineralization intersected in the main Eastern Trend (MH-22-505) approximately 200 m up hole from the targeted 463 Zone. Hole MH-22-505 cut 21.35 m averaging 9.75 g/t Au including 7.75 m averaging 21.82 g/t Au from 199.05 m downhole. The hole deviated slightly and passed above the targeted 463 Zone. Multiple narrow quartz veins, with specks of visible gold, were intersected in the portion of MH-22-505 closest to the 463 Zone (Figure 2 and summarized in accompanying table). The veins occur at high angles to core axis, are oblique to the Eastern Trend and are north-northeast trending – points which validate the current 463 Zone model.
As was reported on December 15, 2022, the 463 Zone is a significant departure in vein style/geometry from earlier drill intersections in the vicinity. The “463” intercept is thicker than any other to date and includes the “typical” high-grade vuggy-type veins with abundant VG with 5%-7% accessory boulangerite as well as brecciated veining with occasional specks of VG with minor boulangerite and sphalerite. Preliminary conclusions are that the 463 Zone is the hinge zone of a folded footwall splay vein off the lower Eastern Trend (Figure 2) with the geometry inferred to be a flat structure with a north-south trend. Initial assay results from the 463 Zone were released on September 6, 2022. The results included a 39.6 m intercept (core length) at 12.50 g/t Au (from 295.30 m downhole) including a higher-grade interval of 10.25 m at 41.97 g/t Au (from 312.35 m downhole).
A second hole, MH-22-512, targeting the 463 Zone, has been collared from the west side of North Pond to be used as a pilot hole to wedge additional holes. These drill holes will test for additional folded splays unrecognized to date with the heavy bias of drilling the, moderately east-dipping, Eastern Trend from west to east.
New Zone at South Pond
The new 511 Zone has been intersected in two holes testing an IP response under South Pond. The intersections are 250 m south of the South Pond Zone where drilling intersected 5.00 m of 26.87 g/t Au, incl 2.15 m @ 60.59 g/t Au from 47.00 m downhole in MH-20-123. The 511 Zone was initially intersected in MH-22-510, where a 3.55 m wide zone of mineralization grading 0.98 g/t Au was cut at a downhole depth of 419 m. Hole MH-22-511, 100 m to the south, intersected a 20.97 m wide mineralized zone (core length) averaging 1.12 g/t Au with a higher-grade section, 3.60 m wide, averaging 2.32 g/t Au starting at 336 m downhole. The 511 Zone, hosted in sediments cut by altered mafic dykes carrying up to 5% disseminated pyrite and arsenopyrite with 20%-30% quartz carbonate veining, is open to the south and to depth. This mineralization style is found in most gold zones at Moosehead and is often associated with higher-grade, VG-bearing, quartz veins. It is still not known if the intersections in holes 510 and 511 are one continuous zone or two separate, subparallel zones. Additional holes are planned for the area.
Summary of New Assay Results
Reconnaissance Drilling
Drill holes MH-22-491, 493, 494, 497, 499 and 506 – 509 were drilled in the extreme southern portion of the property testing historical soil and reverse circulation (RC) drilling geochemical anomalies identified by Altius Resources in the late 1990’s. Weakly Au anomalous shear zones were intersected but nothing of significance was encountered. Although targets remain in the area, reconnaissance drilling planned for Q1 2023 will focus on the northern portion of the property where historical float samples, reported by Altius Resources, assaying 181 g/t Au lie in proximity to the perceived northern extension of the Eastern Trend.
Tim Froude, President and CEO of Sokoman, says: “We are very pleased to report the progress of drilling at both the 463 Zone and the new “511” Zone(s) in MH-22-510 and 511 at South Pond. Diamond drill hole MH-22-505 initially reported in December 2022, deviated and passed over the top of the 463 Zone. As a result, MH-22-512, the second hole directed towards the 463 Zone, was positioned to test the lower portion of the zone in the event that if the hole does stay straight, we will then be able to wedge off of it. Hole MH-22-505 was a very successful hole in that it was able to cut a good slice through the main Eastern Trend as well as providing additional information in the vicinity of the 463 Zone. It is now becoming apparent that there possibly are more mineralized splays developing in the footwall to the Eastern Trend based on the number of high angle veins and shear zones intersected in MH-22-505. At least six mineralized intervals were cut in the footwall below the main Eastern Trend. It will take more drilling of the footwall area to determine the significance of these zones in addition to the primary target at 463.
We are also encouraged by the intersections in both holes in the new 511 Zone at South Pond. While grades are modest, the setting is similar to that encountered at most mineralized zones at Moosehead with higher-grade, VG-bearing veins, spatially associated with altered / mineralized mafic dykes. The 511 Zone is open to the south and to depth and lies proximal to the intersection of at least two major structures, the Eastern Trend and the Valentine Lake Shear Zone. Multiple drill holes will test this area in the coming weeks.”
Figure 1 – Drill Plan – Moosehead Project
Figure 2 – Drill Section MH-22-505
The Moosehead Project has five known zones of open-ended gold mineralization focused on the Eastern Trend in the central portion of the property with mineralization defined over a 600-m strike length and to over 370 m down dip. The Company is well funded with more than $7 million in the treasury.
QP
This news release has been reviewed and approved by Timothy Froude, P.Geo., a “Qualified Person” under National Instrument 43-101 and President and CEO of Sokoman Minerals Corp.
The Company would like to thank the Government of Newfoundland and Labrador for past financial support of the Moosehead Project through the Junior Exploration Assistance Program.
Analytical Techniques / QA/QC
Samples, including duplicates, blanks, and standards, were submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold analysis. All core samples submitted for assay were saw cut by Sokoman personnel with one-half submitted for assay and one-half retained for reference. Samples were delivered in sealed bags directly to the lab by Sokoman personnel. Eastern Analytical Ltd. is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples with visible gold were submitted for total pulp metallics and gravimetric finish. All other samples were analyzed by standard fire assay methods. Total pulp metallic analysis includes: the whole sample is crushed to -10 mesh; then pulverized to 95% -150 mesh. The total sample is weighed and screened to 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. One blank and one industry-approved standard for every twenty samples submitted is included in the sample stream. Random 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.
December’s Flow-Through Private Placement
Further to its December 28, 2022 news release, Sokoman received final approval from the TSX Venture Exchange and the Company issued 14,795,544 Flow-Through Units for aggregate gross proceeds of $4,142,752. Cash finder’s fees totaling $192,155.61 were paid, in accordance with TSX Venture Exchange policies.
The Financing was effected with three insiders, for a total of 192,143 Units or $53,800.04, each insider subscription being a “related party transaction” as such term is defined under MI 61-101 – Protection of Minority Security Holders in Special Transactions. The Company is relying on exemptions from the formal valuation requirement of MI-61-101 under sections 5.5(a) and (b) of MI 61-101 in respect of the transaction as the fair market value of the transaction, insofar as it involves the interested party, is not more than 25% of the Company’s market capitalization.
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is a discovery-oriented company with projects in the province of Newfoundland and Labrador, Canada. The Company’s primary focus is its portfolio of gold projects; the 100% flagship, advanced-stage Moosehead, as well as the 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. The Company also recently entered into a strategic alliance with Benton Resources Inc. through three, large-scale, joint-venture properties including Grey River, Golden Hope, and Kepenkeck in Newfoundland. Sokoman now controls, independently and through the Benton alliance, over 150,000 hectares (>6,000 claims – 1500 sq. km), making it one of the largest landholders in Newfoundland, in Canada’s newest and rapidly-emerging gold districts. The Company also retains a 1% net smelter return (NSR) 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 which has Direct Shipping Ore (DSO) potential.
For further information, please contact:
Sokoman Minerals
Timothy Froude, P.Geo., President & CEO
Phone: 709-765-1726
Email: tim@sokomanmineralscorp.com
CHF Capital Markets
Cathy Hume, VP Corporate Development, Director
Phone: 416-868-1079 x251
Email: cathy@chfir.com
CHF Capital Markets
Thomas Do, IR Manager
Phone: 416-868-1079 x 232
Email: thomas@chfir.com
Website: www.sokomanmineralscorp.com
Twitter: @SokomanMinerals
Facebook: @SokomanMinerals
LinkedIn: @SokomanMinerals
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward- looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Minerals Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Minerals Corp.
Sokoman And Benton Announce Updates On Newfoundland Joint Venture Projects Golden Hope And Grey River
Additional High-Grade Cesium Assays from Hydra Dyke at Golden Hope: Gold Mineralization Expanded at Grey River
St. John’s, NL, January 16, 2023 – Sokoman Minerals Corp. (TSXV:SIC) (OTCQB:SICNF) (“Sokoman”) and Benton Resources Inc. (TSXV:BEX) (“Benton”), together (the “Alliance”) are pleased to report final assay results from the recently discovered cesium-rich dyke (“Hydra Dyke” or “Hydra”) on the Golden Hope Joint Venture Project, as well as final drill results from a successful Phase 2 drilling campaign at Grey River; both projects are located in southwestern Newfoundland.
Golden Hope Joint Venture Project
Initial grab sampling at Hydra, the cesium +/-lithium/tantalum/rubidium-rich dyke discovery 12 km northeast of the Kraken Pegmatite (lithium) Dyke Swarm, returned a high value of 1.56% Cs2O (cesium oxide), along with 0.4% Li2O (lithium oxide), 0.022% Ta2O5 (tantalum oxide), and 0.30% Rb2O (rubidium oxide) (see news release dated November 17, 2022). Follow-up channel sampling returned a 1.2 m channel sample averaging 8.76% Cs2O, 0.41% Li2O, 0.025% Ta2O5, and 0.33% Rb2O (see news release dated December 1, 2022). Results from the full suite of samples, which include additional high-grade cesium values, as well as significant values in lithium, rubidium, and tantalum, are summarized below.
Hydra Dyke – 2022 Channel Sampling Highlights
– 2.00 m @ 0.457% Cs2O, 0.156% Li2O, 0.023% Ta2O5, and 0.17% Rb2O
– 1.20 m @ 0.854% Cs2O, 0.157% Li2O, 0.021% Ta2O5, and 0.30% Rb2O
incl. 0.40 m @ 1.94% Cs2O, 0.081% Li2O, 0.025% Ta2O5, and 0.08% Rb2O– 4.00 m @ 0.834% Cs2O, 0.117% Li2O, 0.013% Ta2O5, and 0.12% Rb2O
incl. 0.50 m @ 5.13% Cs2O, 0.258% Li2O, 0.007% Ta2O5, and 0.21% Rb2O– 1.70 m @ 0.264% Cs2O, 0.095% Li2O, 0.022% Ta2O5, and 0.073% Rb2O
– 1.20 m @ 8.76% Cs2O, 0.405% Li2O, 0.025% Ta2O5, and 0.33% Rb2O
*incl. 0.40 m @ 13.57% Cs2O, 0.316% Li2O, 0.012% Ta2O5, and 0.38% Rb2O
*Previously released
Golden Hope Project – Drill Collars
The five channel samples gave values from 0.264% to 8.76% Cs2O (full-length averages), with significant lithium, rubidium, and tantalum, over lengths ranging from 1.2 m to 4.0 m. The 5 m – 6 m wide dyke is partially exposed on a hill slope which allowed a 15 m x 15 m area of the dyke to be sampled, has been traced 100 m along strike to where it disappears under overburden in both directions. Winter weather has prevented further work at the Hydra discovery, but regional soil geochemical surveys have been ongoing and will continue through the winter. In the meantime, assays are expected within three to four weeks from the recently completed 11 holes (1,606 m) in the Phase 3 drill program focused on the Kraken Discovery Dyke and East Dyke areas. The East Dyke prospect is located less than a kilometre east of the Kraken Pegmatite Dyke Swarm. Three holes, GH-22-25 to GH-22-27 were drilled on the new Killick discovery, believed to be an extension of the East Dyke, intersecting multiple, near surface, spodumene-bearing dykes with GH-22-25 intersecting eight pegmatite dykes ranging from 0.8 m to 11.2 m thick (drilled thickness; true thickness uncertain at this time) with spodumene noted over an 8.8 m interval. Hole GH-22-26, drilled 35 m behind GH-22-25, also cut multiple spodumene-bearing dykes with drilled thicknesses ranging from 0.8 m to 10.5 m, with spodumene noted over the entire 10.5 m section. Hole GH-22-27, drilled along strike 30 m to the north of holes 25 and 26, cut two pegmatite dyke zones of 14.2 m and 2.95 m thick with spodumene noted over 12.83 m of the 14.2 m interval, and the entire length of the 2.95 m interval.
At the Kraken Pegmatite Dyke Swarm, eight (8) more holes were drilled to test the main Kraken Discovery Dyke and westward along trend to test sub-crop and surface mineralization. Most holes encountered spodumene-bearing pegmatite dykes ranging from 0.5 m – 5.25 m thick including Hole GH-22-28, which intersected three dyke zones with intersections of 2.12 m to 10.97 m core length and Hole GH-22-35, a 25 m undercut south of the discovery hole, GH-22-01, intersected several pegmatite dyke zones including a 5.25 m spodumene-bearing dyke. At Kraken West, drilling tested an area of sub-crop mineralization however the bedrock source remains unidentified and a high-priority target.
Results from a soil geochemistry program, 3.5 km to 5.2 km east of the Kraken Discovery Dyke, have outlined highly anomalous lithium and tantalum anomalies located along strike. These high-priority targets will be investigated as soon as the weather conditions allow.
Moving forward, a minimum 5,000 m program is being planned and will commence once all results are received and compiled and weather permits. The Alliance continues to be impressed with the rate of discovery in this new lithium district and looks forward to the future exploration success of this exciting lithium project located in the mining-friendly province of Newfoundland and Labrador.
QA/QC Protocols
Rock and core samples are 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 personnel and delivered in sealed bags directly to the Grand Falls-Windsor prep lab by 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 a four-acid digestion and analyzed by ICP-OES. Eastern Analytical Ltd. in February 2014 achieved ISO 17025 accreditation (for more details on the scope of accreditation visit the CALA website).
Grey River Project
The Grey River project is located on the south coast of Newfoundland approximately 30 km east of the town of Burgeo. The project is host to widespread, and locally high-grade, gold mineralization associated with a >10 km long quartz/silica body, bounded by sedimentary units, dipping steeply to the north. Gold occurs in the quartz/silica body in zones of extensive veining and silica containing 2%-20% disseminated and stringer pyrite. Historic grab samples, and grab samples taken by Sokoman and Benton personnel (see press release dated September 2, 2021), have given gold values ranging from 5 ppb to 225 g/t Au and drilling has confirmed the gold mineralized zones as locally extensive and high-grade, including previously released assay values from GR-21-01 that include 50.13 g/t Au over 0.35 m. Previous workers have compared the gold mineralization at Grey River to the high-grade Pogo gold mine in the Tintina district of Alaska. The Pogo mine, to the end of 2019, produced 3.9M oz gold at 13.6 g/t Au (Northern Star Resources, November 22, 2021).
The 14-hole, 3,350 m, 2022 Phase 2 drilling, has returned multiple intersections of gold mineralization in drill holes covering 6.9 km of strike length with the mineralization remaining open in all directions. The results are highlighted in the table below:
* Core lengths – believed to be 70-90% of reported lengths.
2021 Program highlights (previously reported)
The 2022 drill program has demonstrated both lateral and vertical continuity of gold mineralization and has intersected anomalous gold values up to 1.7 km east of the 2021 drilling with holes GR-22-06, GR-22-09, and GR-22-19 all intersecting anomalous gold values.
Noteworthy of the Grey River project is:
Gold mineralization in 19 holes over a 6.9 km strike length
Host – silica zone remains open to the east, west, and to depth – broad zones remain untested
2022 drilling shows lateral and vertical continuity of gold-bearing zones
Gold zones in multiple drill holes with grades up to 50.13 g/t Au
Grey River Property. Gulch Cove area drill collar locations. 2021 (white) & 2022 (black)
Grey River Property. East zone drill collar locations. 2021 (white) & 2022 (black)
An intensive data review including historical exploration is ongoing and a 2023 program will be proposed in the coming weeks. A preliminary assessment of airborne magnetic data has already identified a series of northwest-trending structures that may have not been recognized previously, several of which appear spatially associated with gold mineralization, which has not been either drill tested or prospected.
Timothy Froude, P.Geo., President and CEO of Sokoman stated: “The results from the Hydra LCT (Li/Cs/Ta) dyke at Golden Hope confirm our initial results and we look forward to expanding the footprint of the mineralization at the nearest opportunity. The discovery of Hydra took place just as winter settled in so the earliest we expect to be back on site is early spring. While still very early stage there may be an opportunity to drill test the showing during the next phase of drilling at Kraken, the lithium dyke swarm 12 km southwest of Hydra. While we are waiting for the assays from the recently completed 1,606 m drill program at Kraken, we will continue with geochemical (soil) sampling once winter conditions allow for safe travel on snowmobile. Grey River remains a project of high potential. I have worked on very few projects where almost every hole has intersected gold mineralization over such a wide area. We know there are high grades to be found, we have proven that, however, the drilling to date has been largely reconnaissance in scope therefore there is plenty of room to hide zones of high grade on the property. The recent recognition of a series of northwest-trending structures may be the key we have been looking for and these structures will be the focus of work this spring. Drilling plans will be put forth after those targets have been assessed and modelled.”
Stephen Stares, President and CEO of Benton stated: “The Golden Hope Project continues to deliver exceptional new discoveries and results. I’m extremely excited and encouraged that we have located more high-grade LCT-type pegmatites and I’m confident we will make more new discoveries as we continue with our aggressive exploration plans. The Grey River Project continues to demonstrate that it is host to a large gold system and targeting the higher grades will be key to unlocking its true value. The Alliance will continue to evaluate all data in hopes of vectoring in on the higher-grade controls and this summer’s work program will be aimed towards that goal.”
Analytical Techniques / QA/QC
Samples, including duplicates, blanks, and standards, were submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for gold analysis. All core samples submitted for assay were saw cut by Sokoman personnel with one-half submitted for assay and one-half retained for reference. Samples were delivered in sealed bags directly to the lab by Sokoman personnel. Eastern Analytical Ltd. is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples with possible visible gold were submitted for total pulp metallics and gravimetric finish. All other samples were analyzed by standard fire assay methods. Total pulp metallic analysis includes: the whole sample is crushed to -10 mesh; then pulverized to 95% -150 mesh. The total sample is weighed and screened to 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. One blank and one industry-approved standard for every twenty samples submitted is included in the sample stream. Random 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.
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 of Benton Resources Inc. both, a “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, and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project in northwestern Newfoundland, which is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland, and Cononish in Scotland. The company is also a 50/50 partner in 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 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.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Alliance properties.
About Benton Resources Inc.
Benton Resources is a well-financed 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 is a 50/50 partner in a strategic alliance with Sokoman Minerals Corp. through three large-scale joint venture properties, including Grey River Gold, Golden Hope, and Kepenkeck in Newfoundland.
For further information, please contact:
CHF Capital Markets
Thomas Do, IR Manager
Phone: 416-868-1079 x 232
Email: thomas@chfir.com
Sokoman Minerals
Timothy Froude, P.Geo., President & CEO
Phone: 709-765-1726
Email: tim@sokomanmineralscorp.com
Benton Resources
Stephen Stares, President & CEO
Phone: 807-475-7474
Email: sstares@bentonresources.ca
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.
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