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Sokoman Minerals and Benton Resources Jointly Acquire Grey River Gold Project in Southern Newfoundland
ST. JOHN’S, Newfoundland and Labrador / May 27, 2021 / Business Wire / Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (the “Company” or “Sokoman”) is pleased
About this update from Pirate Gold Corp
[{"type":"text","content":"ST. JOHN’S, Newfoundland and Labrador / May 27, 2021 / Business Wire / Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (the “Company” or “Sokoman”) is pleased to announce, together with Benton Resources Inc. (“Benton”) (TSXV: BEX), the joint acquisition of the 324 claim (8,100 hectare) Grey River Gold Project in southern Newfoundland. The Property includes 11 claim units (275 hectares) optioned from local interests under letter agreements, more details to be released in the coming weeks. The Grey River acquisition is consistent with the newly formed Sokoman/Benton Alliance, which is targeting district-scale gold opportunities in Newfoundland. Sokoman is now one of the largest land holders in Newfoundland with direct ownership or co-ownership of over 150,000 hectares (+6,000 claims) and is sufficiently funded to advance its portfolio of properties. The Grey River Gold Project is centered on the community of Grey River, a deep-water, ice-free harbour on the south coast of the Island of Newfoundland, 32 km east of the town of Burgeo, and 38 km southeast of the recently acquired Golden Hope Joint Venture (see Press Release dated May 20, 2021). The SIC-BEX claims straddle a fundamental east-west trending ductile shear zone that separates a large enclave of Late Precambrian amphibolite, gabbro, metasediments, felsic metavolcanics and mafic orthogneisses from a batholith-scale, syn-kinematic suite of Siluro-Devonian granitoid rocks. The east-west trending amphibolite-grade metamorphic units are correlatives of the coeval basement block exposed on-strike, farther west in the Hermitage Flexure, near Burgeo and at Hope Brook. The east-west shear zone at Grey River, and parallel structures immediately offshore, are fundamental crustal breaks, along which several metal-rich mid- to late-Devonian granites were emplaced along the southern coast of the Island. Rocks in this segment of the Hermitage Flexure are unusually enriched in gold (Au), molybdenum (Mo), copper (Cu), tungsten (W), fluorine (F) and bismuth (Bi). A 5-km-wide by 10-km-long area within and adjoining the property, between Grey River and Gulch Cove, is particularly metal-rich, hosting: i) multiple mesothermal and intrusion-related Au-rich (+/- Bi-Ag-Sb-Pb-Zn) quartz veins; ii) a porphyry Mo-Cu deposit (Moly Brook); iii) a vein-type wolframite-rich W deposit (Grey River #10); ...