Marathon Intersects 3.16 g/t PGM and Au and 0.40% Cu over 14 m at Benton's Bamoos-Claw Lake-Four Dams Property
Wed Apr 30, 9:21 AM
ca.news.finance.yahoo.com
THUNDER BAY, ON, April 30 /CNW/ - Benton Resources Corp ("Benton", BTC-TSX.v) and Marathon PGM Corporation ("Marathon", MAR-TSX) are pleased to announce initial drilling results from the Bamoos-Claw Lake-Four Dams ("BCF") Property. Benton's BCF Property adjoins Marathon's Copper and PGM Project near Marathon, Ontario and is currently being explored by Marathon under an option and joint venture agreement. Numerous wide intercepts of PGM and Au and copper mineralization were discovered. The results are very positive, as the limits of the Main Zone mineralization have been expanded with this initial phase of drilling.
Highlights:
- drillhole MB-08-06 intersected 3.16 g/t PGM and Au and 0.40% Cu over
14 m (from 44-58 m)
- drillhole MB-08-06 intersected 2.02 g/t PGM and Au and 0.32% Cu over
18 m (from 7-25m)
- Main Zone extension on BCF Property to be included in Marathon
feasibility study
Phillip Walford, President and CEO noted, "Drilling the north end of the
Main Zone extension will bring this area up to the measured and indicated
category. The resource will be included in the feasibility study as part of
the ore reserves and should extend the potential mine life."
Results from Marathon-Benton JV Drilling
----------------------------------------
------------------------------------------------------------------------
True Total
From To Thickness Pd Pt Au PGM and Cu
Hole (m) (m) (m) (g/t) (g/t) (g/t) Au (g/t) (%)
------------------------------------------------------------------------
MB-08-01 10 14 4 0.68 0.13 0.08 0.89 0.34
------------------------------------------------------------------------
MB-08-02 72 92 20 1.16 0.25 0.11 1.52 0.32
------------------------------------------------------------------------
including 86 92 6 2.17 0.46 0.24 2.87 0.49
------------------------------------------------------------------------
MB-08-02 106 116 10 0.84 0.64 0.32 1.00 0.21
------------------------------------------------------------------------
MB-08-05 8 32 24 0.92 0.72 0.19 1.00 0.31
------------------------------------------------------------------------
including 24 32 8 1.18 0.34 0.16 1.68 0.44
------------------------------------------------------------------------
MB-08-06 7 25 18 1.44 0.43 0.15 2.02 0.32
------------------------------------------------------------------------
including 9 19 10 1.75 0.53 0.19 2.47 0.34
------------------------------------------------------------------------
or 13 15 2 3.26 0.74 0.23 4.23 0.56
------------------------------------------------------------------------
MB-08-06 44 58 14 2.37 0.60 0.20 3.16 0.40
------------------------------------------------------------------------
including 52 56 4 2.74 0.56 0.32 3.62 0.50
------------------------------------------------------------------------
MB-08-07 52 58 6 0.93 0.32 0.12 1.37 0.26
------------------------------------------------------------------------
including 56 58 2 1.51 0.41 0.19 2.11 0.43
------------------------------------------------------------------------
MB-08-07 76 84 8 0.73 0.25 0.12 1.10 0.40
------------------------------------------------------------------------
including 78 80 2 0.71 0.29 0.12 1.39 0.57
------------------------------------------------------------------------
MB-08-08 124 136 12 1.18 0.32 0.09 1.59 0.32
------------------------------------------------------------------------
Current Drilling
----------------
Drilling has provided valuable information regarding extent and features controlling mineralization.
Hole MB-08-03 encountered a large inclusion of footwall volcanic rock, which had not been encountered in previous drilling. MB-08-04 encountered only footwall volcanics, west of MB-08-05. Holes MB-08-07 and MB-08-08 encountered mineralization to the east and west, respectively, of a footwall volcanic fragment.
Drilling on the BCF property is continuing and a second drill rig is being mobilized to further extend the high-grade W horizon on the Marathon property.
All of the samples were sent to Accurassay, an accredited laboratory in Thunder Bay, Ontario, to be assayed using fire assay and other standard techniques.
Phillip Walford, P.Geo., President and CEO is Marathon's Qualified Person in compliance with National Instrument 43-101 with respect to this release. Mr. Walford has reviewed the contents for accuracy and has approved this press release on behalf of Marathon. Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Corp., is the qualified person responsible for this release on behalf of Benton.
About Benton Resources Corp:
Benton Resources Corp. (the "Company") is a mineral exploration company listed on the TSX Venture Exchange under the symbol BTC. Benton's aggressive and experienced management team is focused on base and precious group metal exploration. The Company's diverse property portfolio includes Canadian projects which are highly prospective for gold, platinum, palladium, nickel and copper. Benton currently has several significant carried Joint Ventures with companies such as Teck Cominco Limited, Stillwater Mining and Marathon PGM Corporation. With a market capitalization of approximately $28 million and $20 million cash in working capital, management believes Benton is extremely undervalued.
On behalf of the Board of Directors of Benton Resources Corp.
"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.
Forward- looking statements in this release are made pursuant to the safe
harbor provisions of the Private Securities.
Contacts
Stephen Stares
3290 Willard Ave
Thunder Bay
Ontario
P7E 6J7
Phone (807) 475-7474
Fax (807) 475-7200
www.bentonresources.ca
Investor relations: First Canadian Capital Corp.
Daniel Boase
Phone (416) 742-5600
Toll Free: 1-866-580-8891
In U.S.A: The Windward Agency
Kelly Boatright
Phone (704) 588-8600 |
