TSX-V: BEX
THUNDER BAY, ON, Jan. 10, 2013 /CNW/ - Benton Resources Inc. (TSXV: BEX) ("Benton" or "the Company") is pleased to announce the discovery of several new high grade gold and
silver showings at the Elizabeth Anne Gold Project. To date the company
has completed and received results from a total of 562 surface grab and
chip samples over a large area measuring approximately 40 square
kilometres. The results are very encouraging and include highlights
ranging from trace to 89.3g/t gold and trace to 1955g/t silver. In addition to the new high grade gold and silver showings, several
localized areas show highly anomalous amounts of copper up to 12.15%,
lead up to 3.13% and bismuth up to 0.23% in surface sampling.
Much of the new surface sampling has identified two new areas of
interest that require follow-up exploration work. One area situated to
the north west of the Central (C1) zone is defined by
copper-gold-silver mineralization occurring over an area greater than
2km long by 500m wide. The mineralization is predominantly associated
with aplitic dyke swarms in a quartz monzonite intrusion and as a
result, additional ground has been staked to cover this new anomalous
area. A second area of new mineralization has been uncovered
approximately 3km due east of the C1 zone and consists of highly
anomalous gold-silver mineralization spread over a 200x200m area.
The company anticipates the current mapping and prospecting program to
be completed shortly with further results being released once they are
received and compiled. A follow-up ground geophysical survey,
including detailed magnetometer and Induced Polarization (I.P.), will
be integrated with the geological mapping and surface sampling results
to delineate and prioritize future diamond drill targets. Drilling is
expected to commence in the coming months.
Benton's management continues to be very encouraged by the results and
in less than 12 months, the Company has identified multiple new high
grade gold and silver zones, completed 4153 meters of drilling in 13
holes with significant previously released results of:
-
10.92gpt gold and 60.1g/t Ag over 15.24m in hole EA12C-05,
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5.55gpt Au and 9.55g/t Ag over 6.1m in EA12C-03,
-
5.54gpt Au and 14.74g/t Ag over 4.58m in EA-12-01 and
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11.9gpt Au and 381g/t Ag over 1.5m in EA12C-12
(see Benton N.R. dated October 12, 2012)
A complete range for the 562 surface samples is listed below:
Silver
Highest silver assay = 1955 gram/tonne Ag (approx. 57oz/ton)
-
6.5% or 37 samples assayed ≥100g/t Ag
-
10% or 57 samples assayed ≥50g/t Ag
-
14% or 79 samples assayed ≥30/t Ag
-
24% or 134 samples assayed ≥10g/t Ag
-
50% or 282 samples assayed ≥1g/t Ag
Gold
Highest gold assay = 89.3 gram/tonne Au (approx. 2.6 oz/ton)
-
8.5% or 48 samples assayed ≥2g/t Au
-
10% or 58 samples assayed ≥1g/t Au
-
17% or 97 samples assayed ≥0.5g/t Au
-
24% or 136 samples assayed ≥0.25g/t Au
-
37% or 209 samples assayed ≥0.1g/t Au
Stephen Stares, the Company's President and CEO commented "we are very
pleased with the results of the ground work completed to date on this
project and anxiously anticipate the completion of the geological,
geophysical and prospecting program in order to delineate additional
drill targets for our next phase of drilling. We believe that the
project lies in a setting that has the potential to host an economic
resource and we will continue to work diligently to advance this
project".
The Elizabeth Anne gold property is located approximately 19 miles
(30km) west of the Mountain Pass rare earth mine in San Bernardino
County, California. The Company believes that the Property lies within
the southern portion of the Walker Lane Gold Belt which hosts several
multi-million ounce gold deposits. The Company can earn a 100%
interest in the Property by paying $1.2 million over 13 years subject
to a 3% Net Smelter Royalty (NSR) of which Benton has the right to
purchase 50% of the NSR (1.5%) for $1.5 million and holds a Right of
First Refusal to match any offer on the other 1.5% NSR.
About Benton Resources Inc. (TSXV: BEX)
Benton Resources Inc is newly listed Canadian based junior with multiple
joint ventures and a diversified property portfolio in Gold-Silver,
Nickel-Copper, and Platinum group elements. The Company is well-funded
with approximately $5.27 million in cash and $7.0 million in marketable
securities.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Inc., is
the qualified person responsible for this release.
On behalf of the Board of Directors of Benton Resources Inc.,
"Stephen Stares"
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
SOURCE: Benton Resources Inc.
