Benton Capital stakes claims at Wisa Lake
2016-04-26 10:03 ET - News Release
Mr. Stephen Stares reports
BENTON CAPITAL INCREASES LAND PACKAGE AT WISA LAKE LITHIUM PROJECT
Benton Capital Corp. has acquired a 100-per-cent interest through staking in an additional 30 units in two claims at its Wisa Lake lithium project located 80 kilometres east of Fort Frances, Ont. (see Benton news release dated April 19, 2016). The property is connected to Highway 11 (Trans-Canada Highway), located 65 km north, via an all-weather road that crosses the centre of the project. The land position was increased in order to cover an additional spodumene-bearing pegmatitic dike located approximately 900 metres south of the Wisa Lake zone. Selective grab samples collected from the zones have been submitted to the laboratory for analysis.
As indicated in the company's press release dated April 19, 2016, the property covers the Wisa Lake deposit with a historical resource of 330,000 tonnes grading 1.15 per cent lithium oxide (Lexindin Gold Mines Ltd., manager's report, 1958; Ontario Geological Survey, open-file report 6285, report of activities 2012). In 1956, Lexindin completed a total of 20 drill holes (packsack and AQ-sized core) over a strike length of 335 metres and to a depth of approximately 65 m to outline the Wisa Lake lithium mineralization. The diamond drill log of the most easterly hole intersected 6.4 m containing 20 per cent of the lithium-bearing mineral spodumene suggesting the mineralization is open at depth and to the east. It should be noted that the historical resource estimate for the deposit was calculated prior to National Instrument 43-101 guidelines and as such should only be considered from a historical point of view and not relied upon. A qualified person has not completed sufficient work to classify the historical estimates as current mineral resources. Further diamond drill programs are required to bring the mineralization into a proper NI 43-101-compliant category.
The company has recently applied to change its name to Alset Energy Corp. and is in the process of applying for a new trading symbol. The company has also granted 2,395,000 options to officers, directors and consultants of the company at a price of seven cents for a period of five years.
All of the above transactions are subject to TSX Venture Exchange and regulatory approvals.
Benton Capital is well financed with approximately $1-million in cash.
Clinton Barr (PGeo), vice-president of exploration for Benton Capital, is the qualified person responsible for this release, and has reviewed and approved all scientific and technical data and disclosures in this release.
We seek Safe Harbor.
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