- Benton Resources (TSXV:BEX) is announcing a new gold discovery on its Dominion Lake project only 21 km from Calibre Mining’s (TSX:CXB) over 5 million ounce Valentine gold deposit in Newfoundland
- The discovery returned grades up to 4.6 grams per ton of gold
- Benton Resources is advancing its flagship high-grade Great Burnt copper and gold project in central Newfoundland, in addition to an exploration portfolio prospective for silver, nickel, lithium, platinum and palladium
- Benton Resources stock has given back 65 per cent year-over-year but remains up by 40 per cent since 2019
Benton Resources (TSXV:BEX) is announcing a new gold discovery on its Dominion Lake project only 21 km from Calibre Mining’s (TSX:CXB) over 5 million ounce Valentine gold deposit in Newfoundland.
Benton made the discovery during a prospecting program in late summer 2024, uncovering a 50 m wide sheared zone in contact with an over 12 m wide exposed quartz-flooded and silicified zone traced intermittently for about 120 m.
The new prospect, named the Rickirb zone, has yielded grades up to 4.6 grams per ton (g/t) of gold. Additionally, Benton collected 30 samples within 200 m of Rickirb including 7 grading over 0.5 g/t gold.
Dominion Lake is located within the northern Tulks volcanic belt of the Victoria Lake Supergroup, featuring highly favorable geological terrain with data-driven potential for hosting gold mineralization and volcanogenic massive sulfides (VMS).
Benton has further aligned itself with exploration upside by optioning numerous mineral licenses surrounding two known VMS deposits – Daniel’s Pond and Bobby’s Pond – currently held by Canterra Minerals (TSXV:CTM). Consideration includes $8,000 upon signing, 80,000 common shares upon regulatory approval and cash and share payments of $46,000 and 360,000 shares over a four-year period. The seller will retain a 2 per cent net smelter royalty, half of which Benton may buy back for $500,000.
Investors can expect news about further prospecting and soil sampling on the new gold horizon and other potential targets in the future.
About Benton Resources
Benton Resources is a well-financed mineral exploration company advancing its flagship high-grade Great Burnt copper and gold project in central Newfoundland, which boasts a mineral resource estimate of 667,000 tons grading 3.21 per cent copper indicated and 482,000 tons grading 2.35 per cent copper inferred. The company also holds an exploration portfolio prospective for silver, nickel, lithium, platinum and palladium.
Benton Resources stock (TSXV:BEX) opened with a loss of 6.67 per cent trading at C$0.07 per share. The stock has given back 65 per cent year-over-year but remains up by 40 per cent since 2019.
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