Thunder Bay, Ontario--(Newsfile Corp. - October 3, 2023) - Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company") is pleased to announce that it is in receipt of all requisite permits for exploration on the Great Burnt Copper-Gold project which was recently optioned from Spruce Ridge Resources Ltd. ("Spruce") (see news release dated August 16, 2023). The permits received cover prospecting, geophysics, trenching, geochemical sampling, and diamond drilling. The Company is also pleased to announce that it has initiated the mobilization of an aggressive exploration program this fall and that a ten-person camp is nearly complete. It is anticipated that prospecting, mapping, and diamond drilling could start as early as Friday October 6, 2023. The Company plans to conduct a minimum 3,000m of drilling in this first phase of work which will target infill and expansion of the Great Burnt Main Zone and South Pond deposits, along with testing various new targets identified by the current and ongoing compilation of historical data. Highlights from drilling conducted by Spruce is summarized below.
Great Burnt Copper-Gold Project
The Great Burnt Main Zone has an NI 43-101 compliant resource prepared in 2022 for Spruce by P&E Mining Consultants Inc. of 667,000 Tonnes (47.2 Mlb) Cu at 3.21% (indicated) and 482,000 Tonnes (25.0 Mlb) Cu at 2.35% (inferred) contained within mining lease 211(10210M). The Copper resource remains open to the south and at depth. Highlights of the drill programs to date include:
- GB20-05: 27.20 m of 8.06% Cu, including 7.75 m of 16.88% Cu
- GB20-20: 22.75 m of 6.89% Cu, including 12.55 m of 10.59% Cu
- GB18-05: 20.94 m of 6.21% Cu, including 6.98 m of 10.71% Cu
- GB18-06: 9.97 m of 7.45% Cu, including 5.03 m of 11.42% Cu
- GB16-08: 7.50 m of 9.45% Cu, including 3.00 m of 19.30% Cu
- GB16-09: 5.75 m of 6.68% Cu, including 1.50 m of 11.70% Cu
Exploration at the South Pond Zone has identified potential for both copper and gold along several kilometers of strike. Highlights of the 2021 drill program include:
- SP21-01: 1.69g/t Au over 51.00 m, including 3.19g/t Au over 11.00 m, within 10 m of surface
- SP21-03: 2.36g/t Au over 15.00 m, including 11.33g/t Au over 1.00 m
- SP21-08: 1.75g/t Au over 21.20 m, including 2.82g/t Au over 10.20 m
- SP21-11: 1.34g/t Au over 17.60 m, including 2.48g/t Au over 4.20 m
- SP21-14: 2.06g/t Au over 21.00 m
- SP21-16: 1.72g/t Au over 10.00 m
Note: Widths quoted are true core length, true widths are estimated at approximately 70% of core lengths.
Stephen House (P.Geo.), Vice President of Exploration 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.
About Benton Resources Inc.
Benton Resources is a well-financed mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Following a project generation business model, Benton has a diversified, highly prospective property portfolio of gold, silver, nickel, copper, platinum group elements and, most recently, lithium and cesium assets. In addition, it currently holds large equity positions in other mining companies that are advancing high-quality assets. Whenever possible, BEX retains net smelter return (NSR) royalties with potential long-term cash flow.
Benton is also a 50/50 partner in a strategic alliance with Sokoman Minerals Corp. through three large-scale joint-venture properties, including Grey River Gold, Golden Hope, and Kepenkeck in Newfoundland.
On behalf of the Board of Directors of Benton Resources Inc.,
Stephen Stares, President
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
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.