Thunder Bay, Ontario--(Newsfile Corp. - August 17, 2017) - Benton Resources Inc. (TSXV: BEX) ("Benton" or "the Company") is pleased to announce that it has completed 14 diamond drill holes on the Bedivere Gold Project located in northwestern Ontario. Results for the first four drill holes (see table below) have been received and exhibit encouraging results for the early stage Traxxin gold discovery. Highlights from the first results include 1.5 gpt (grams per tonne) Au (gold) over 14.0m (metres) including 3.63gpt over 4.0m in BED-17-001 and 37.3gpt Au over 1.0m in BED-17-003 where visible native gold was noted in the drill core. The Company is encouraged with these first results as all of the shallow drill holes intercepted the well mineralized quartz veined/flooded shear zone over an approximate 250m in strike length and which remains open in all directions. Drill holes BED-17-008 and 009 were located approximately a kilometer southwest along strike of the main Traxxin Zone and intersected the mineralized shear zone containing chlorite and silicification similar to that of the Traxxin Zone. The Company will continue to release results of the drill program as the assays are received and compiled.
|Hole ID||From (m)||To (m)||Width (m)||Gold (gpt)|
Note: widths are reported as core lengths, true widths are not yet known
Quality Assurance / Quality Control
The core was split or cut in half with one half being stored for future reference and the other half tagged and sent to Activation Laboratories Ltd. in Thunder Bay, ON. The core samples were analyzed for gold using fire assay with an atomic absorption finish. Samples with grades greater than 5gpt gold were completed with a gravimetric finish. Standards and blanks were inserted into the sample batches as part of the Company's QA/QC protocols.
About Benton Resources Inc. (TSXV: 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.
Benton's flagship project is the Cape Ray gold deposits located on the west coast of Newfoundland. The results of the Cape Ray PEA include a pre-tax net present value ("NPV") at a 7% discount rate of $48.5 million with a pre-tax internal rate of return ("IRR") of 31% and a post-tax NPV at a 7% discount rate of $32.4 million with a post-tax IRR of 25%. The reader should be cautioned that the PEA is preliminary in nature. It contains inferred mineral resources that are considered too speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Inc., is the qualified person responsible for this release has prepared, supervised the preparation or approved the scientific and technical disclosure in the news 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.
For further information contact Stephen Stares @:
684 Squier Street,
Thunder Bay, ON P7B 4A8
Source: Newsfile Corp.