Swarm Of Dikes At Golden Hope In Southwestern Newfoundland
Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) and 50/50 JV partner Benton Resources Inc. have discovered a swarm of lithium-bearing pegmatite dikes on the Golden Hope Joint Venture Project in southwestern Newfoundland, Canada.
Sokoman’s President and CEO Timothy Froude and consultant Sean O’Briena and Benton’s President and CEO Stephen Stares and Director Michael Stares, 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 mineralisation 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.
Mr Froude said the lithium mineralisation 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.
“The discovery of what we believe to be the first lithium-rich pegmatites in Newfoundland could be very significant for shareholders of both Sokoman and Benton,” Mr Froude said.
“A crew will be dispatched to the discovery site later this week for detailed sampling and documentation of the dykes. While the Alliance remains firmly committed to the evaluation of the gold potential of the property, we believe that the new discovery requires immediate follow-up sampling.
“This is a prime example of the enormous untapped resource potential that the Island has to offer.”
The Alliance has completed the previously announced 5,709 line-km Heliborne High-Resolution Aeromagnetic & Matrix Digital VLF-EM Survey flown by Terraquest Ltd. with the data currently being processed. The survey will provide the structural / lithological setting and help identify gold-bearing structure extensions, as well as any unrecognised structures including those potentially related to the lithium pegmatites.
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