THUNDER BAY, ONTARIO–(Marketwired – Sept. 1, 2015) – Benton Resources Inc. (TSX VENTURE:BEX) (“Benton” or “the Company”) is pleased to announce that the Company has made a significant new visible gold discovery on the Staghorn gold project under option from Metals Creek Resources Corp. (see Benton press release dated Nov. 18, 2014).
Earlier prospecting this summer along the northeastern portion of the project identified mineralization grading 19-20 grams per tonne (“gpt”) gold in outcrop. Subsequent recent follow-up discovered visible native gold associated with quartz veining within a large iron-carbonate shear zone. Assays from new follow-up selective grab samples graded up to 189.2gpt gold. The assays were completed by Eastern Analytical of Springdale, NL using pulp metallic and fire assay. The shear zone has been traced intermittently over more than 2km with other grab samples returning trace to 2.5gpt gold. Five small overburden / till samples were collected over 120m across strike at the visible gold showing of which three contained a few fine grains of native gold in the panned concentrate. The Company has initiated a soil sampling program and further prospecting in this area with follow-up trenching after new results are compiled.
In addition, continued follow up exploration along the Ryan’s Hammer prospect has extended the gold mineralized horizon to approximately 750m strike length. Previously reported grab sample assays located along strike to the east across Victoria Lake and recent follow-up to gold-in-soil anomalies along strike to the west may extend the mineralized horizon to more than 2km. Selective grab samples of numerous large angular mineralized boulders interpreted to be subcrop located along the western strike extent of the Ryan’s Hammer prospect returned grades of 1.1gpt to 5.4gpt Au. The Company believes the zone is situated within an east west oriented splay off of the main Cape Ray fault. Trenching is expected to start in September as soon as the permits are received.
President and CEO Stephen Stares states, “I believe we are potentially on the verge of a significant new discovery. We feel that our methodical approach to exploring the Staghorn project has lead to the successful results achieved thus far. We are excited to get our trenching program underway followed by diamond drilling of the best targets generated by the season’s exploration programs.”
The Cape Ray/Victoria Lake regional fault zone hosts a number of gold deposits, including Marathon Gold’s Valentine Lake deposit located 30km to the northeast of the Staghorn and Benton’s Cape Ray gold deposits approximately 100km to the southwest.
The Company would also like to announce that all resolutions were passed unanimously by shareholders at its annual general and special meeting held in Thunder Bay, Ontario on August 31, 2015. Wasserman Ramsay Chartered Accountants were re-appointed as auditors of the Company for the ensuing year and shareholders also approved the Company’s Shareholder Rights Plan Agreement dated July 22, 2015. In addition, shareholders voted in favour of setting the number of directors at six and the following incumbent directors were re-elected: Stephen Stares, Michael Stares, Clinton Barr, William Harper, Raphael Gerstel and John Sullivan.
About Benton Resources Inc. (TSX VENTURE:BEX)
Benton Resources Inc is a well funded Canadian-based junior with a diversified property portfolio in Gold-Silver, Nickel, Copper, and Platinum group elements.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Inc., is the qualified person responsible for this release.
On behalf of the Board of Directors of Benton Resources Inc.,
Stephen Stares, President
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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