Thunder Bay, Ontario–(Newsfile Corp. – March 27, 2019) – Benton Resources Inc. (TSXV: BEX) (‘Benton’ or ‘the Company’) is pleased to announce that it has received final assay results for the Phase I drill program carried out at the Panama Project in the Red Lake mining district.
- Each hole returned anomalous gold values.
- Drilling has identified an extensive, 5+ metre quartz flooded shear zone containing variable amounts of pyrite and silicification associated with gold mineralization.
- Shear zone demonstrates a potentially large structural trend that will be the focus of the Company’s 2019 fieldwork.
Stephen Stares, President & CEO, commented: “We are very pleased with the results of the Phase 1 drill program as it provided Benton with valuable geological information for further targeting at the highly promising Panama Project. A detailed magnetic survey and lake sediment sampling program will be commencing soon to assist in planning targets for the 2019 field season. We are excited to move forward and see what the next Phase brings us.”
Drill hole PL-19-08 was drilled to test the Slate Lake zone where Benton had grab samples grading from trace up to 6.17gpt gold on surface. The drilling was successful in intersecting the gold-bearing lithological unit at depth (270 m down-hole) containing anomalous gold over 8.4 m in a silicified arsenopyrite-rich, quartz-flooded zone. PL-19-09 was drilled south from the same setup and intersected altered feldspar porphyry (“FP”) with quartz stringers and abundant sulphide. The hole ended in the FP at a final depth of 140 m. The two Slate Lake zone drill holes are located approximately 150 m west of the area where a glacial till sampling survey by the Geological Survey of Canada, 1999 (Open File 3038) identified 107 gold grains in till sampling, the highest count in the survey.
Benton’s future exploration efforts at the Slate Lake zone will focus north and east of the gold grains, which the Company believes were transported by southwest-trending glaciation.
Highlights from the Phase I Drill Program are as follows:
|PL-19-01||79.6||87.2||7.6||1.58||1.58 g/t over
|incl||79.6||84.3||4.7||2.34||2.34 g/t Au over 4.7 m|
|PL-19-02||148.5||155||6.5||1.23||1.23 g/t Au over 6.5 m|
|PL-19-03||79.6||85.4||5.8||1.21||1.21 g/t Au over 5.8 m|
|incl||82.4||84.4||2||2.55||2.55 g/t Au over 2 m|
|PL-19-04||72.8||78.6||5.8||1.07||1.07 g/t Au over 5.8 m|
|incl||75.8||78.6||2.8||1.67||1.67 g/t Au over 2.8 m|
|PL-19-05B||77.5||93.6||16.1||0.57||0.57 g/t Au over 16.1 m|
|incl||89||91||2||2.07||2.07 g/t Au over
|PL-19-06||82||83||1||0.427||0.427 g/t Au over 1 m|
|PL-19-07||35.4||36.4||1||0.563||0.563 g/t Au over 1 m|
|PL-19-08||270.5||279||8.4||0.18||0.18 g/t Au over 8.4 m|
|PL-19-09||100||102||2||0.425||0.425 g/t Au over 2 m|
Note: Reported intercepts are core lengths not true widths.
The Company is also pleased to announce that Mr. James (Jim) Rogers has agreed to join Benton as an advisor. James Rogers is a geologist with forty years of experience in the mining and exploration industry. Starting as a mine geologist in 1980, Jim has almost thirty years of experience working in the Red Lake Gold mining camp in various positions, including Chief Geologist, Exploration Manager and President of a junior exploration company. In the early days, Jim and his team discovered the high-grade zone at the Red Lake mine. Jim also spent nine years as Chief Geologist at the Eskay Creek Mine where grade control and metallurgical study were critical to profitable mining and to expanding reserves.
Jim is a team player whose main strength lies in a good understanding of the economics, mining methods and the structural interpretations of ore bodies, excellent 3D and “Big Picture” strategic vision, particularly as they relate to gold system exploration and development. Jim’s tremendous amount of technical knowledge in the Red Lake district will truly be an asset to the Company moving forward. Benton is delighted that he has joined the team to assist in the projects’ advancement.
Nathan Sims (P.Geo.), Senior Exploration Manager for Benton Resources Inc., the ‘Qualified Person’under National Instrument 43-101, has approved the scientific and technical disclosure in this news release and prepared or supervised its preparation..
On behalf of the Board of Directors of Benton Resources Inc.,
Stephen Stares, President
About Benton Resources Inc.
Benton Resources is a well-funded Canadian-based project generator with a diversified property portfolio in Gold, Silver, Nickel, Copper, and Platinum group elements. Benton holds multiple high-grade projects available for option which can be viewed on the Company’s website. Most projects have an up-to-date 43-101 Report available. Benton’s Panama Gold Property on the prolific Red Lake greenstone belt is being drilled at this time.
Parties interested in seeking more information about properties available for option can contact Mr. Stares at the number below.
For further information, please contact:
Stephen Stares, President & CEO
Email: [email protected]
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x231
Email: [email protected]
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 Company’s expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in the Company’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 Company 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 Company’s expectations or projections.
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