Benton provides exploration update and appoints manager for Marathon Properties
Thursday April 26, 9:12 am ET
biz.yahoo.com
THUNDER BAY, ON, April 26 /CNW/ - Benton Resources Corp. ("Benton" or the "Company") would like to provide an update of the Company's ongoing exploration programs and announce the appointment of Mr. Paul Degagne as exploration manager for the Goodchild and Bermuda projects. Mr. Degagne brings more than 20 years experience in exploration and development to the Company and will be a tremendous asset to Benton as it moves those projects forward.
On the Bermuda Project, Benton has completed 4 diamond drill holes totaling 914.5 metres out of the planned 10,000-metre program. Drilling was cut short to allow the drill contractor to fulfill a previously committed contract and the remainder of the drill program will be restarted in May. The four holes were drilled eastward and collared approximately 500 metres north of the Marathon deposit where Benton had previously encountered large intercepts of copper and platinum group metals (PGM). The program was successful in identifying additional copper and PGM mineralization however three of the four holes encountered an unexpected syenite dyke where the main mineralized zone was anticipated, although they did intersect the upper mineralized gabbro. The mineralization likely continues to the east of the syenite intrusion and the zone still remains open to the north and south as well.
Benton continues to be excited about the Bermuda project as exploration to date has consistently shown potential for outlining a significant resource of copper and PGMs over very large areas of the property. South of the property boundary, Marathon PGM Corp. continues to intersect high-grade zones of platinum group metals as they move their project towards a full feasibility. Below are the results of all the drill holes completed to date from the east (Bamoos) and west (A41) extents of Benton's Bermuda property.
BAMOOS AREA/MARATHON EXTENSION
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Hole ID From To Interval Au Pt Pd TPM Cu
(m) (m) (m) (gpt) (gpt) (gpt) (gpt) (%)
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BO-05-01 1.5 8.6 7.1 0.07 0.18 0.60 0.85 0.40
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24.7 37.5 12.8 0.06 0.14 0.51 0.71 0.27
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Includes 34.0 37.5 3.5 0.11 0.27 1.1 1.38 0.52
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41.9 47.5 5.6 0.11 0.26 0.91 1.3 0.33
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BO-05-02 0.5 47.5 47.0 0.07 0.17 0.38 0.62 0.26
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Includes 2.5 7.6 5.1 0.18 0.61 1.13 1.92 0.37
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BO-05-03 Volcanics nsv nsv nsv nsv nsv
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BO-05-04 3.0 32.3 29.3 0.12 0.32 1.30 1.74 0.28
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Includes 19.8 23.2 3.4 0.33 0.75 3.89 4.97 0.50
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BO-05-05 5.3 13.7 8.4 0.10 0.25 1.20 1.55 0.16
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20.9 31.2 10.3 0.08 0.11 0.43 0.62 0.17
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63.25 240.8 177.5 0.053 0.08 0.35 0.49 0.19
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Includes 63.25 104.7 41.5 0.13 0.17 0.86 1.16 0.43
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Includes 70.1 89.9 18.8 0.19 0.25 1.23 1.67 0.54
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BO-05-06 7.5 13.6 6.1 0.11 0.35 1.55 2.01 0.18
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64.0 75.6 11.6 0.22 0.57 2.32 3.11 0.41
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Includes 74.6 75.6 1.0 0.47 1.86 6.33 8.66 0.38
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BO-05-06
ext 241.0 304.0 63.0 0.046 0.115 0.56 0.7 0.41
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Including 263.5 304.0 40.5 0.057 0.143 0.65 0.9 0.49
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Including 263.5 268.0 4.5 0.021 0.116 1.03 1.2 0.74
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Including 275.5 284.5 9.0 0.057 0.169 0.842 1.1 0.62
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Including 292.0 304.0 12.0 0.085 0.182 0.778 1.1 0.54
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BO-05-07 79.8 88.8 9.0 0.07 0.14 0.59 0.80 0.21
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Includes 85.6 88.8 3.2 0.11 0.25 1.03 1.39 0.07
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BO-05-08 71.3 102.7 31.5 0.05 0.23 0.80 1.08 0.05
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Includes 73.3 79.4 6.1 0.09 0.58 1.41 2.08 0.08
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BO-05-09 98.2 107.5 9.3 0.17 0.40 1.81 2.38 0.24
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BO-05-10 33.6 44.4 10.8 0.16 0.44 1.69 2.29 0.53
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BO-05-11 89.80 91.84 2.04 0.585 0.008 0.005 0.60 0.0
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BO-05-12 48.5 70.70 22.2 0.013 0.165 0.02 0.20 0.03
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BO-05-13 1.5 62.80 61.3 0.064 0.128 0.283 0.48 0.17
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Includes 17.7 25.9 8.2 0.154 0.292 0.75 1.17 0.28
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Includes 32.5 40.3 7.8 0.175 0.184 0.442 0.80 0.25
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105.45 124.15 18.7 0.054 0.251 0.848 1.15 0.08
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BO-05-14 1.57 47.55 45.98 0.078 0.229 0.560 0.87 0.21
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Includes 13.75 18.90 5.15 0.098 0.313 0.853 1.26 0.32
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Includes 27.03 32.1 5.07 0.118 0.299 0.854 1.27 0.28
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Includes 37.0 43.9 6.9 0.227 0.680 1.528 2.44 0.38
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BO-05-15 28.77 42.0 13.23 0.058 0.145 0.294 0.49 0.10
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Includes 39.36 42.0 2.64 0.128 0.294 0.593 1.01 0.11
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77.92 98.1 20.18 0.047 0.147 0.615 0.81 0.05
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Includes 82.05 88.0 5.95 0.062 0.280 1.168 1.51 0.05
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Includes 86.8 88.0 1.2 0.133 0.596 3.812 4.54 0.05
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Includes 93.57 98.1 4.53 0.099 0.174 0.827 1.10 0.11
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Includes 96.43 97.26 0.83 0.158 0.350 2.098 2.61 0.05
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BO-05-16 8.23 13.25 5.02 0.099 0.167 0.579 0.84 0.04
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Includes 9.5 11.28 1.78 0.257 0.323 1.112 1.69 0.07
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BO-05-17 34.1 47.85 13.75 0.113 0.222 0.386 0.72 0.14
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Includes 34.1 38.35 4.25 0.303 0.465 0.956 1.72 0.33
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64.17 86.0 21.83 0.053 0.157 0.457 0.67 0.05
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Includes 72.94 76.1 3.86 0.124 0.328 1.346 1.80 0.14
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BO-05-18 Hole lost in fault (at) 3 meters
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BO-05-19 58.2 65.84 7.64 0.045 0.086 0.273 0.40 0.04
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119.18 137.5 18.32 0.066 0.119 0.225 0.41 0.06
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Includes 126.8 131.4 4.6 0.146 0.219 0.375 0.74 0.13
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BO-06-20 41.4 61.35 19.85 113 267 1183 1.56 0.10
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214.3 316.3 102.0 94 244 914 1.25 0.58
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Including 239.80 244.30 4.50 145 346 1542 2.03 1.27
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BO-06-21 40.0 50.5 10.5 0.09 0.186 0.87 1.1 0.12
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Including 41.5 46.0 4.5 0.136 0.312 1.54 2.0 0.13
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107.5 125.5 18.0 0.10 0.168 0.26 0.5 0.22
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B0-06-22 45.5 107.0 61.5 0.136 0.24 0.74 1.1 0.08
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Including 45.5 60.5 15.0 0.129 0.522 1.46 2.1 0.08
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Including 47.0 56.0 9.0 0.18 0.73 2.12 3.0 0.1
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290.0 328.4 38.4 0.046 0.083 0.35 0.5 0.21
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Including 317.0 328.4 11.4 0.084 0.094 0.65 0.7 0.27
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BO-07-23 4.4 55.0 50.6 51 116 307 0.47 0.17
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Including 48.2 55 6.8 128 170 1247 1.55 0.28
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and 137.15 139.85 2.7 64 79 338 0.48 0.28
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BO-07-24 185.6 189.85 4.25 112 239 739 1.09 0.44
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BO-07-25 112.3 116.3 4 178 113 139 0.43 0.15
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BO-07-26 Syenite Dyke, nsv
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AREA 41 ZONE
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Hole ID From To Interval Au Pt Pd TPM Cu
(m) (m) (m) (gpt) (gpt) (gpt) (gpt) (%)
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SL-06-01 4.05 130.00 125.95 0.058 0.211 0.36 0.63 0.16
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SL-06-01 4.05 65.20 61.15 0.111 0.408 0.714 1.23 0.28
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Including 34.00 47.40 13.4 0.214 0.860 1.62 2.70 0.33
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SL-06-02 3.70 206.55 202.85 0.049 0.156 0.266 0.48 0.19
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Including 3.70 94.00 90.3 0.077 0.267 0.477 0.82 0.21
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Including 3.70 58.50 54.8 0.089 0.342 0.621 1.05 0.20
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Including 3.70 29.50 25.8 0.073 0.378 0.770 1.22 0.21
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And 3.70 9.00 5.3 0.096 1.061 1.906 3.06 0.15
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Including 43.50 58.50 15.0 0.169 0.487 0.837 1.49 0.22
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And 45.00 51.65 6.65 0.166 0.824 1.490 2.48 0.18
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SL-06-02 129.45 206.55 77.1 0.035 0.073 0.118 0.23 0.23
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including 203.70 204.35 0.65 0.089 0.168 0.473 0.73 1.02
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SL-06-03 170.00 175.45 5.45 0.083 0.114 0.530 0.73 0.33
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SL-06-04 51.50 140.00 88.5 0.030 0.073 0.107 0.21 0.08
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including 119.00 120.50 1.5 0.165 0.123 0.540 0.83 0.19
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SL-06-05 58.00 67.50 9.5 0.011 0.260 0.257 0.53 0.04
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including 58.00 59.50 1.5 0.022 0.659 0.541 1.22 0.07
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SL-06-05 99.00 100.60 1.6 0.079 0.214 0.361 0.65 0.08
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SL-06-06 35.00 53.00 18.0 0.006 0.505 0.621 1.13 0.02
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including 38.00 44.00 6.0 0.011 0.689 0.912 1.61 0.02
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and 47.00 51.50 4.5 0.008 0.679 0.769 1.46 0.01
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SL-06-06 66.20 78.00 11.8 0.096 0.297 0.446 0.84 0.05
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including 67.50 72.00 4.5 0.111 0.410 0.628 1.15 0.04
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SL-06-07 39.50 48.50 9.0 0.032 0.386 0.311 0.73 0.04
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including 42.50 45.50 3.0 0.038 0.645 0.580 1.26 0.05
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SL-06-07 60.50 73.50 13.0 0.066 0.699 0.738 1.50 0.05
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including 63.50 67.85 4.35 0.077 1.817 1.842 3.74 0.04
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including 63.50 65.00 1.5 0.207 3.665 4.286 8.16 0.01
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SL-06-07 93.00 94.50 1.5 0.125 0.317 0.427 0.87 0.11
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SL-06-07 112.65 114.00 1.35 0.107 0.178 0.506 0.79 0.13
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SL-06-08 43.00 67.20 24.2 0.092 0.302 0.453 0.85 0.09
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including 46.75 58.00 11.25 0.138 0.390 0.616 1.14 0.11
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SL-06-08 82.00 88.00 6.0 0.089 0.235 0.423 0.75 0.23
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including 83.50 86.50 3.0 0.134 0.352 0.592 1.08 0.25
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SL-06-08 84.95 88.00 3.05 0.099 0.277 0.436 0.81 0.20
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SL-06-09 49.50 70.00 20.5 0.109 0.423 0.583 1.11 0.10
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including 56.00 61.65 5.65 0.049 0.925 1.198 2.17 0.09
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SL-06-09 92.00 96.05 4.05 0.133 0.357 0.500 0.99 0.18
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SL-06-10 3.00 11.00 8.0 0.065 0.045 0.044 0.15 0.20
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SL-06-10 48.00 55.50 7.5 0.035 0.249 0.314 0.60 0.02
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including 54.00 55.50 1.5 0.015 0.922 0.332 1.27 0.01
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SL-06-10 67.50 82.30 14.8 0.030 0.031 0.050 0.11 0.15
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SL-06-11 2.50 7.70 5.2 0.060 0.007 0.010 0.08 0.17
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(Au (equal sign) gold, Pt (equal sign) platinum, Pd (equal sign)
palladium, m (equal sign) metre, TPM (equal sign) total precious metal
(Au+Pt+Pd), Cu (equal sign) copper, nsv (equal sign) no significant
values, ext (equal sign) extension, widths are core length)
Maps: bentonresources.ca
At the Flying Loon Project, the Company is planning to complete approximately 1000m of drilling in three to four drill holes as follow-up to a gold intersection encountered in the final hole (FL-06-10) of the 2006 program. Drill hole FL-06-10 was designed to test a coincidental weak electromagnetic and high magnetic anomaly defined by the ground geophysical survey and intersected a silicified shear zone grading 4.27gpt gold over a 1.6m core length. The magnetic anomaly measures more than 800m in length and is one of several on the property. This is the first known gold mineralization in this area and the Company plans to test the zone at depth and along strike in both directions. There is currently a diamond drill rig in the immediate area and the Company hopes to utilize it within the next few weeks to complete the drilling at Flying Loon. Upon completion of the drill program, a down-hole geophysical survey will be initiated for drill holes at both the gold and nickel occurrences to determine potential electromagnetic anomalies around the holes.
At the Goodchild Nickel Project, the Company has entered into a Joint Venture agreement with Stillwater Mining Corp (BTC PR of April 16, 2007). A detailed airborne geophysical survey (Geotech Ltd, VTEM system) is scheduled to commence within the next two weeks and will cover both the Goodchild and South Goodchild properties. Grab samples of sulphide mineralization collected on the Goodchild Property last season returned up to 6.7% nickel, 0.5% copper, 0.14% cobalt, 1.8gpt palladium, and 0.5gpt platinum. An extensive field exploration program will begin upon completion and interpretation of the airborne survey.
At the King Lake Project in Labrador, Benton and Teck Cominco Limited ("Teck") have completed a large airborne geophysical survey (Aeroquest International Limited, AeroTEM II system) and are currently awaiting interpretation results. Teck is operator of the program and is planning to follow up the airborne survey with prospecting and geological mapping commencing mid-June.
At the Saganaga and Q-9 gold projects where Teck is Benton's partner as well, there will be a follow up on last years diamond drill results that returned up to 5.36gpt over 20 metres core length from surface. Teck is the operator and has the right to earn up to 70% in the two projects by spending $8 million dollars ($16 million in total) over seven years on each project.
At the Armit Lake Ni-Cu-Co property, MaxMin electromagnetic and magnetic surveys have been completed over the grid and these are currently being interpreted. The ground geophysical surveys identified multiple magnetic and conductive anomalies proximal to the Company's new nickel showing where grab samples collected during the 2006 field season returned up to 4.17% nickel and 0.24% cobalt. Further to the northwest, the Company discovered high-grade gold mineralization in bedrock that assayed up to 25.4gpt (gram per tonne). In addition to the new gold showing, several boulders grading up to 1.24% copper and 1.61gpt gold have been found. The Company is planning more prospecting, geological mapping and trenching to help define and prioritize diamond drill targets. The discovery of high-grade material bodes well for the economic potential of this property and Benton is excited about the upcoming work program scheduled to begin early June.
At Benton's uranium projects in the Nipigon / Sibley Basin, the Company has brought in two joint venture partners. Tri-Gold Resources Ltd has joint ventured a single group of claims termed Block A and can earn a 60% interest by spending $1 million dollars in exploration on the project. To date Tri-Gold has completed a MegaTEM airborne geophysical survey (Fugro Airborne Surveys) and is currently waiting for interpretation results. Grandcru Resources Corporation is Benton's second joint venture partner and Grandcru can also earn a 60% interest in three separate blocks of claims: Blocks B and D, and South Sibley. An airborne geophysical survey (Geotech Ltd, VTEM) is scheduled to begin within the next week over the South Sibley block. Benton will remain as operator for this project.
At the Bottle Bay and Mainville uranium projects, the Company is seeking a partner to advance these properties. A joint venture will afford Benton more time to focus on their other core assets and will result in the Company having a carried interest in these quality uranium projects. Historical uranium values of up to 0.68% U308 have been obtained from these properties.
The Company is well financed and with the recent exercise of warrants is currently in a cash position of approximately $6.35 million.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Corp., is the qualified person responsible for this release.
On behalf of the Board of Directors of Benton Resources Corp.
"Stephen Stares"
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVEIWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward- looking statements in this release are made pursuant to the safe
harbor provisions of the Private Securities.
For further information
Stephen Stares, 3290 Willard Ave, Thunder Bay, Ontario, P7E 6J7, Phone (807) 475-7474, Fax (807) 475-7200, www.bentonresources.ca
Investor relations: In Canada: First Canadian Capital, Daniel Boase, Phone (416) 742-5600, Fax (416) 742-6410
In U.S.A: The Windward Agency, Kelly Boatright, Phone (704) 588-8600
Source: Benton Resources Corp. |
