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Sokoman and Benton Announce Discovery of High-Grade Lithium-Bearing Pegmatites at Golden Hope in Southwestern Newfoundland
Two samples, 110 m apart, return 1.95% and 0.49% Li2O respectively St. John's, Newfoundland--...
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[{"type":"text","content":"Sokoman and Benton Announce Discovery of High-Grade Lithium-Bearing Pegmatites at Golden Hope in Southwestern NewfoundlandTwo samples, 110 m apart, return 1.95% and 0.49% Li2O respectivelySt. John's, Newfoundland--(Newsfile Corp. - August 16, 2021) - Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (\"Sokoman\") and Benton Resources Inc. (TSXV: BEX) (\"Benton\"), which are 50/50 members of a joint exploration alliance previously announced on May 10, 2021 (together, \"the Alliance\"), are pleased to announce that they have discovered a swarm of lithium-bearing pegmatite dikes on the Golden Hope Joint Venture Project in southwestern Newfoundland, Canada. Benton's President and CEO Stephen Stares and Director Michael Stares, along with Sokoman's President and CEO Timothy Froude and consultant Sean O'Brien, identified the pegmatites on a recent field visit, collecting three grab samples over a 110-m-width across the dykes. Two of the samples returned 1.95% Li2O and 0.49% Li2O, believed to be the first discovery of significant lithium mineralization on the Island of Newfoundland. Lithium occurrences in the Appalachian belt are well known and include important deposits in the Carolinas in the eastern US, as well as in the geologically equivalent Caledonides of Ireland.The lithium mineralization is situated in a so-far unknown-sized zone or swarm of pegmatite dykes with an apparent width of 110 m and as-yet unknown strike length. Random grab samples were collected near what is believed to be the northern and southern limits of the zone and submitted to Actlabs in Ancaster, Ontario for analysis by Sodium Peroxide Fusion ICPOES + ICPMS. The focus of the Alliance remains the gold potential of the Golden Hope Project. However, the discovery of the lithium-bearing pegmatites is significant, therefore Sokoman and Benton will pursue this opportunity for the benefit of their respective shareholders. As a reference, Canaccord Genuity Group Inc., in an August 12, 2021 update report on lithium, forecasts lithium prices to continue climbing on growing demand from higher-than-expected global electric vehicle sales paired with supply shortfalls.Sokoman's President and CEO, Timothy Froude, P.Geo., states: \"The discovery of what we believe to be the first lithium-rich pegmatites in Newfoundland could be very significant for shareholders of both Soko...