BEX. Benton Resources Inc.

Benton Reports Results of Phase II Drilling at Far Lake Copper-Silver Project, Ontario

Thunder Bay, Ontario--(Newsfile Corp. - June 4, 2021) - Benton Resources Inc. (TSXV: BEX) ("Benton" or "the Company") today announces results from the Phase II drilling program at its Far Lake Copper-Silver project located 80 km west of Thunder Bay, Ontario. The second phase of drilling at Far Lake totaled 2,696 m and was designed to test new areas associated with surface mineralization as well as various chargeability anomalies outlined by a deep, 3D IP geophysical survey. Highlights from this latest campaign include copper mineralization in the previously untested Centre Pond zone, intersected at a drill hole depth of 338 m (DDH FL-21-17).

Benton continues to be encouraged by the Cu mineralization identified in this intrusive complex and will continue to model the data collected for further targeting on the project. The Company is presently collecting up to 3,500 soil samples for multi-element analysis and is actively mapping and prospecting the property to generate further targets for drilling later this year. Geochemical anomalies identified in 2020 soil sampling led to the discovery at FL-20-11.

Additional sampling of DDH FL-20-11 (drilled in the first campaign) increased the width of a previously released mineralized interval by 4 m, expanding the mineralized zone to 0.15% Cu over 64.2 m including 0.35% Cu over 15.6 m and 1.08% Cu and 1.63 g/t Ag over 2.6 m.

Drill hole FL-20-11 is located approximately 1,800 m NW along the same structure as the Far Lake Discovery Zone where surface sampling produced Cu grades up to 22% over 0.7 m and first phase drill results yielded intercepts of 0.19% Cu and 0.34 g/t Ag over 33.6 m including 1.11% Cu and 1.33 g/t Ag over 3.1 m (FL-20-03). The Discovery Zone continues to be interrupted by mafic dykes and the Company continues to model the dykes to better understand the structure controlling mineralization and to avoid hitting them in future drilling within the mineralized zones.

Drill holes FL-21-13 & 14 were drilled in the vicinity of hole FL-20-11 (0.15% Cu over 64.2 m) and were successful at intersecting the granodiorite with advanced argillic alteration that hosts up to 5% chalcopyrite locally. Additionally, the granodiorite includes moderate phyllic (chl-ser), propylitic (qtz-epi-carb) and weak potassic (kspar-alb-qtz) alteration. Highlights from these holes include 0.25% Cu over 3 m and 0.12% Cu over 3 m, in holes 13 and 14 respectively.

FL-21-15 was nearly a 200 m eastern step-out from FL-20-11 and again intersected a chalcopyrite mineralized altered granodiorite containing up to 0.1% Cu over 14 m.

FL-21-16 was the deepest hole of the campaign and targeted a deep IP chargeability anomaly coinciding with mineralized surface samples. Anomalous copper mineralization was encountered throughout the hole, but more importantly intersected a major lithological contact between granitic and metasedimentary rocks at depth, which will be important when mapping the units on the property.

FL-21-17 was drilled 425 m below the Centre Pond zone and intersected mainly red granite with strong potassic, hematite alteration with magnetite. The coarse, red granite contains blebby chalcopyrite and pyrite. Highlights include 0.16% Cu over 6 m.

FL-21-18 targeted an airborne VLF anomaly along strike of the discovery zone. Copper mineralization was insignificant, but the hole intersected a wet structure that could account for the anomaly.

FL-21-19 was drilled below the discovery zone at depths deeper than the first phase of drilling. Sulphide mineralization is primarily seen as blebby or disseminated pyrite in zones of strong deformation as well as chalcopyrite in zones of strong deformation, as blebs in a silica-infilled breccias or as wisps in a quartz vein. Highlights include 0.13% Cu over 23 m.

FL-21-20 was a southern step-out from hole 19 and designed to intersect high-grade copper at depth. Unfortunately, this hole encountered another wide intrusive gabbro at an unexpected depth and angle and the mineralized zone was nearly missed altogether. Mineralized intervals include 0.12% Cu over 1.4 m and 0.11% Cu over 3 m.

In addition to copper mineralization, the campaign intersected weakly anomalous uranium in FL-21-16 (21ppm U over 10 m) and FL-21-19 (23.8ppm over 9 m).

Up-to-date copper results from Far Lake drilling are as follows:

Hole IDFromToIntervalCu (%)
*FL-20-0146.2481.80.23
*FL-20-0235.636.40.80.44
*FL-20-0326.259.833.60.19
incl29.232.33.11.11
*FL-20-044572.327.30.11
48.354.360.21
*FL-20-0555.964.990.11
and74.979.950.15
*FL-20-06NSA**
*FL-20-07NSA**
*FL-20-0833.334.91.6
*FL-20-0993.7134.540.80.051
*FL-20-10138.3152.3140.023
FL-20-1182.814764.20.15
incl120.6136.215.60.35
incl124.7128.33.61.08
*FL-20-12102.4106.54.10.09
FL-20-1321822130.25
and24925340.11
FL-20-1416616930.12
FL-20-15115129140.1
FL-20-16414.242813.80.022
FL-20-17336.5342.560.16
incl336.53381.50.56
FL-20-18NSA**
FL-20-19201224230.13
FL-20-20162.75164.151.40.12
and288.5291.530.11

 

*Previously released results
**No significant assays

A map showing the location of each hole is available on the Company's website ().

The Company would also like to announce that it has made the first anniversary payment pursuant to its option agreement with White Metal Resources Corp. ("White Metal") on the Far Lake property (see Company news release dated May 20, 2020). The Company paid White Metal $30,000 and issued 400,000 common shares of the Company.

Equity Holdings

Benton continues to be very encouraged by the progress made by Clean Air Metals Inc. ("Clean Air"), in which Benton holds 24.6 million shares. Clean Air has two drill rigs operating on the Thunder Bay North and Escape Lake Copper-Nickel-PGM projects and has released excellent drill results from its ongoing drill campaign. Benton looks forward to receiving ongoing encouraging drill results and future project advancement.

Benton also holds 3,940,000 shares of Quadro Resources Ltd, which is advancing various projects in Newfoundland and Ontario. Additionally, Benton holds 3.6 million shares of Maxtech Ventures Inc. Maxtech has an Option and Joint Venture agreement on Benton's Panama Lake gold project in the Red Lake mining region. Further, Benton holds 1.36 million shares of Metallica Metals advancing Benton's Saganaga (Starr) Gold project, and 1.0 million shares of Sokoman Minerals Corp. which continues to release excellent drill results from its Moosehead Project in Newfoundland. Benton recently entered into a strategic alliance with Sokoman Minerals for three large-scale joint venture properties including Grey River, Golden Hope and Kepenkeck in Newfoundland.

Benton also has two NW Ontario projects optioned to Rio Tinto Exploration Canada (the Bark Lake and West Baril Lake Copper-Nickel PGE projects).

QP

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"
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.

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
Phone: 807-475-7474
Email:

CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x251
Email:

Website:
Twitter:
Facebook:

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.

To view the source version of this press release, please visit

EN
04/06/2021

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Benton Resources Inc.

 PRESS RELEASE

Benton Resources Inc. Announces C$3,600,300 "Best Efforts" Private Pla...

Benton Resources Inc. Announces C$3,600,300 "Best Efforts" Private Placement of Flow-Through Units NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES THUNDER BAY, Ontario, July 17, 2024 (GLOBE NEWSWIRE) -- Benton Resources Inc. ("Benton" or the “Company”) (TSXV: BEX) is pleased to announce that it has entered into an agreement with Haywood Securities Inc. (“Haywood”), as lead agent and sole bookrunner, on its own behalf and on behalf of a syndicate of agents (together with Haywood, the “Agents”) pursuant to which the Agents have agreed to se...

 PRESS RELEASE

Benton and Sokoman Confirm First High-Grade Lithium Discovery in Newfo...

Composite grab sampling returns 2.37% Li2OThunder Bay, Ontario--(Newsfile Corp. - September 16, 2021) - Benton Resources Inc. (TSXV: BEX) ("Benton") and Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman") (together, "the Alliance") are pleased to announce analyses for 35 of 58 follow-up samples from the recently discovered swarm of Lithium-bearing pegmatite dikes on the Golden Hope Joint Venture Project in southwestern Newfoundland. The 35 grab and chip samples were collected over a 1 km2 area over the swarm of poorly-exposed pegmatite and aplite dykes. The follow-up sampling has ...

 PRESS RELEASE

Benton Resources: Clean Air Metals Reports New Drill Results including...

Thunder Bay, Ontario--(Newsfile Corp. - September 7, 2021) - Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is pleased to share results obtained by Clean Air Metals Inc. (TSXV: AIR) (FSE: CKU) (OTCQB: CLRMF) ("Clean Air Metals" or the "Company") from recent drilling completed at the Escape Lake project, under Option from Benton. Clean Air Metals can earn up to 100% of the Escape Lake project and Benton will retain a 0.5% NSR on the property.Hole ELR21-077 intersected 76.6m grading 5.67g/t Palladium Equivalents (PdEq) composed of 1.63g/t Platinum (Pt), 2.14g/t Palladium (Pd), 0....

 PRESS RELEASE

Sokoman and Benton Announce Discovery of High-Grade Lithium-Bearing Pe...

Two samples, 110 m apart, return 1.95% and 0.49% Li2O respectivelySt. John's, Newfoundland--(Newsfile Corp. - August 16, 2021) - Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman") and Benton Resources Inc. (TSXV: BEX) ("Benton"), which are 50/50 members of a joint exploration alliance previously announced on May 10, 2021 (together, "the Alliance"), are pleased to announce that they have discovered a swarm of lithium-bearing pegmatite dikes on the Golden Hope Joint Venture Project in southwestern Newfoundland, Canada. Benton's President and CEO Stephen Stares and Director Michael Sta...

 PRESS RELEASE

Benton Receives First Anniversary Payment for Starr Gold-Silver Projec...

Thunder Bay, Ontario--(Newsfile Corp. - August 4, 2021) - Benton Resources Inc. (TSXV: BEX) ('Benton') is pleased to report that it has received the first anniversary option payment comprised of $50,000 and 1,248,177 shares of Metallica Metals Corp. (CSE: MM) ("Metallica") for the Starr gold-silver project (formerly known within Benton as the Saganaga gold project) located in the Thunder Bay Mining District of Ontario.Benton now holds 2,628,177 million shares of Metallica. Metallica has the option to earn a 70% interest in the Starr project by making certain cash and share payments to Benton a...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch