Thunder Bay, Ontario--(Newsfile Corp. - October 17, 2024) - Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company") is pleased to announce that the South Pond Gold Zone ("SPGZ") in south-central Newfoundland has been substantially expanded based on the initial results received from the first four holes from the previously announced drilling program.
The results will successfully expand the extents of the SPGZ, which remains open in all directions and includesignificant drill intercepts. Notably Hole SP-24-07 intersected an impressive 74.20 m of 1.43g/t Gold (Au) and Hole SP-24-03 encountered 43.75 m grading 1.62g/t Au. To date, Benton has completed 23 drill holes in its ongoing program at South Pond totalling 3,183 m.
Drill hole SP-24-03 tested a strong magnetic anomaly approximately 40 m due north of historical hole SP-21-01 completed by Homeland Nickel Inc. ("Homeland") (formerly Spruce Ridge Resources Ltd.) which intersected 51.00 m grading 1.69g/t Au. Drill hole SP-24-07 tested the Magnetic Horizon approximately 45 m south-southeast of the historical hole and was drilled at -87 degree dip which tested the potential height of the mineralized zone with highly positive results. Base metal assays will follow in the coming weeks. A plan map showing drill hole locations is shown in Figure 1 and cross sections are shown below in Figures 2 through 4 below.
The Company has diligently developed a strong exploration model to guide active work at South Pond. Focused field geological mapping and ground magnetics surveying, jointly evaluated by Benton personnel and consulting geoscientist Mike Cooley, have led to the development of a new geological and geophysical model. The model suggests that the mineralized sequence is structurally thickened due to folding and/or faulting. This has resulted in a near-surface zone of thicker mineralization that may be amenable to shallow open-pit mining methods. Testing the model is proving to be very successful with 22 diamond drill holes completed on the >2.5 km long mineralized magnetic horizon. All holes have intersected significant mineralization and thicknesses with drill core being cut and delivered to Eastern Analytical on a regular basis.
A table of the first 4 holes received are below accompanied by a location map and sections showing the mineralized zone. (see Table 1).
Table 1: South Pond Drill Results
DDH #
From (m)
To (m)
Length (m)
Au (g/t)
SP-24-01
18.20
37.00
18.80
1.13
incl
27.24
33.20
5.96
2.06
incl
27.24
28.90
1.66
5.17
SP-24-02
51.00
62.70
11.70
0.50
incl
60.70
62.70
2.00
1.82
DDH #
From (m)
To (m)
Length (m)
Au (g/t)
and
74.70
78.70
4.00
0.55
incl
75.70
76.70
1.00
1.46
SP-24-03
20.15
63.90
43.75
1.62
incl
33.00
43.90
10.90
1.90
incl
58.90
63.90
5.00
3.48
incl
58.90
62.90
4.00
3.99
SP-24-07
24.80
99.00
74.20
1.43
incl
28.00
98.00
70.00
1.50
incl
29.00
71.00
42.00
1.74
incl
63.00
71.00
8.00
2.94
incl
68.00
69.00
1.00
11.57
Note: Widths quoted are true core length, at this early stage, further drilling is required to determine true width of mineralization
At the Great Burnt Copper Deposit, the Company completed one aggressive 200 m step-out hole (GB 24-48) down plunge and along strike to the south of the deepest intercept in drill hole GB 24-45, which cut 12.3 m of 1.72% Cu. This hole cut anomalous Cu mineralization but is believed to be just above or below the main horizon. The Company is currently planning a down hole deep EM survey to target the zone for follow-up drilling. In addition, drilling will also test the potential footwall zone at Great Burnt, which has previously cut highly anomalous gold along with copper grades. Regional exploration continues with many new anomalous zones of copper and gold, in addition to nickel.
Benton is also pleased to announce that it has completed the necessary exploration expenditures to earn its 70% interest in the Great Burnt Copper-Gold Project and Homeland Nickel recently notified the Company that they will participate as a joint venture partner on a 70% (Benton) - 30% (Homeland) basis with respect to exploration expenditures moving forward with Benton as the operator.
Company President and CEO, Stephen Stares states "We are very excited that our first results from South Pond have delivered exceptional results over significant widths. The Company is confident that we are onto a robust mineralized system and we look forward to continuing drilling, as well as more extensive regional exploration. Since acquiring the project just over a year ago, our team has made excellent advancements on all fronts and I am extremely proud of what we have achieved in such a short period of time."
QA/QC Protocols
Core and rock samples, including standards, blanks and duplicates, are submitted to Eastern Analytical Ltd., Springdale, Newfoundland for preparation and analysis. All samples were acquired by saw-cut (channels/drill core) with one-half submitted for assay and one-half retained for reference, or hand (rocks) and delivered, by Benton personnel, in sealed bags, to the Springdale lab of Eastern Analytical, which is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples are analyzed using Eastern's Au (Fire assay) @ 30g + ICP-34 method that delivers a 34-element package utilizing a 200 mg subsample totally dissolved in four acids and analyzed by ICP-OES analytical technique. Overlimits are analysed with Eastern's atomic absorption method, using a 0.200 g to 2.00 g of sample, digested with three acids. All reported assays are uncut. Eastern Analytical Ltd. achieved ISO 17025 accreditation in February 2014 (for more details on the scope of accreditation visit the CALA website).
QP
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. Benton has a diversified, highly prospective property portfolio and 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 focused on advancing its high-grade Copper-Gold Great Burnt Project in central Newfoundland, which has a Mineral Resource estimate of 667,000 tonnes @ 3.21% Cu Indicated and 482,000 @ 2.35% Cu Inferred. The Project has an excellent geological setting covering 25km of strike and boasts six known Cu-Au-Ag zones over 15km that are all open for expansion. Further potential for discovery is excellent given the extensive number of untested geophysical targets and Cu-Au soil anomalies. Phase 1 and 2 drill programs returned impressive results including 25.42 m of 5.51% Cu, including 9.78 m of 8.31% Cu, and 1.00 m of 12.70% Cu.
On behalf of the Board of Directors of Benton Resources Inc.,
"Stephen Stares"
Stephen Stares, President
Parties interested in seeking more information about properties available for option can contact Mr. Stares at the number below.
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.
