Sokoman Minerals and Benton Resources have jointly acquired the Grey River Gold Project located in southern Newfoundland, Canada.
The Grey River Gold Project comprises 324 claims (8,100ha), including 11 (275ha) claim units that are optioned from local interests under letter agreements.
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Last week, Sokoman reached a strategic alliance with Benton Resources to jointly acquire and explore Newfoundland’s gold opportunities. The latest acquisition is in line with this strategy.
The Grey River Gold Project is located 38km southeast of the alliance’s recently acquired 78,650ha Golden Hope property.
This property covers extensions of two major structures that are linked to significant gold prospects and deposits in southern Newfoundland.
In a press statement, Sokoman said: “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.
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By GlobalData“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.”
Sokoman said that the rocks in the Hermitage Flexure segment are unusually enriched in gold, molybdenum, copper, tungsten, fluorine and bismuth.
Moreover, the area adjoining the property, between Grey River and Gulch Cove, is claimed to be metal-rich. It also hosts multiple mesothermal and intrusion-related Au-rich quartz veins.
The area also comprises a porphyry Mo-Cu deposit, a vein-type wolframite-rich W deposit, and a high-purity, locally auriferous silica deposit.
Based on the previous exploration, the project holds gold grades ranging from less than 1g/t to more than 225g/t Au, locally with 200-300g/t Ag.
