THUNDER BAY, ON, Feb. 22, 2013 /CNW/ - Benton Resources Inc. (TSXV: BEX)
("Benton" or "the Company") is pleased to announce an update for the
ongoing exploration program at their Elizabeth Anne project. A combined
aeromagnetic and radiometric survey has been completed over the project
area by Precision GeoSurveys Inc. of Vancouver, Canada that included
650 line-kilometres at 50 metre spacing. Ongoing surface sampling has
identified at least six areas of gold and silver mineralization. Most
encouraging is new high grade gold and silver mineralization along the
southern margin of the Rascal Zone where selective grab samples
returned up to 48.1 gram per tonne (gpt) gold (Au) with 4110 gpt silver (Ag). This new mineralization is situated approximated 250m south of the
previously announced high grade Ag in selective samples that assayed as
high as 1955gpt Ag (see Benton NR dated January 10, 2012). Ongoing
surface chip sampling is also being conducted at the numerous
mineralized zones including further follow-up to previously reported
chip samples that graded 0.50gpt Au and 13.2gpt Ag over 79.25m within a broader halo of 0.27gpt Au and 5.64gpt Ag over 247m over the Rascal Zone (see Benton NR dated February 13, 2013). Benton
anticipates starting the next phase of diamond drilling by early April
to test not only the North Mega-Breccia and Central zones, but also the
new Rascal Zone mineralization. All samples were sent to ALS Global in
Reno Nevada and were analyzed for gold using fire assay and atomic
absorption plus gravimetric finish for higher grade samples. Silver
analysis was part of a multi-element, Aqua Regia package plus ICP for
ore-grade samples.
The Elizabeth Anne gold property is located approximately 35km west of
the Mountain Pass rare earth mine in San Bernardino County, California
and the Company believes that the Elizabeth Anne project lies within
the southern part 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. (BEX: TSX.V)
Benton Resources Inc is a 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 $10 million in cash and approximately
$2.8 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.
