Benton Resources (BEX-V) Jan 19, '18 is pleased to provide further drill results at the Bedivere Gold Project located in northwestern Ontario. Highlights from the most recent drill campaign concluded just before the end of 2017 include 7.87gpt gold over 2.1m in drill hole BED-17-016 and 2.73gpt gold over 4.0m in BED-17-019 (visible gold noted in core) which continue to expand the Traxxin gold zone to depth. The Company is now starting to see distinctive higher grade plunges within the wider mineralized and altered structure. These plunges and expansion of the gold zone along strike to the north will be the focus of the upcoming winter drill program scheduled to start this month. In addition, the most recently completed drill program has identified highly prospective areas along the mineralized structure to the south where wide zones of highly anomalous gold have been intersected including 42.0m of altered quartz breccias that grade 0.21gpt gold with locally higher grades up to 1.7gpt gold over 1.0m.
The Company has now completed a total of 16 diamond drill holes on the Traxxin zone and a further 5 holes testing other targets on the project. All results including previously released holes are listed below and a maps can been viewed on the Company's website.
| Drill Hole | From | To | Interval | Grade (Au g/t) | | BED-17-001* | 2.7 | 5 | 2.3 | 1.82 |
| 17.9 | 31.9 | 14.0 | 1.5 |
| 17.9 | 21.9 | 4.0 | 3.63 | | incl | 17.9 | 19.9 | 2.0 | 6.43 | | incl | 25.9 | 28.9 | 3.0 | 1.41 | | BED-17-002* | 20.3 | 24.3 | 4.0 | 0.77 | | incl | 22.3 | 23.3 | 1.0 | 1.98 | | | 51 | 52 | 1.0 | 4.85 | | BED-17-003* | 22.7 | 23.7 | 1.0 | 37.3 | | BED-17-004* | 39.8 | 40.8 | 1.0 | 1.1 |
| 49.4 | 52.2 | 2.8 | 0.96 | | incl | 51.2 | 52.2 | 1.0 | 1.86 | | BED-17-005* | 34 | 56.2 | 22.2 | 1.07 | | incl | 37.8 | 56.2 | 18.4 | 1.26 |
| 43.8 | 56.2 | 12.4 | 1.71 |
| 50.5 | 56.2 | 5.7 | 3.37 |
| 52.5 | 55.2 | 2.7 | 6.59 |
| 53.3 | 55.2 | 1.9 | 8.9 | | BED-17-006* | 51 | 53 | 2.0 | 2.66 | | BED-17-007* | 38 | 51 | 13.0 | 0.63 | | incl | 50 | 51 | 1.0 | 5.46 | | BED-17-008* | 50 | 51 | 1.0 | 2.65 | | BED-17-009* | NSA | | BED-17-010* | 32.3 | 34.3 | 2.0 | 0.44 | | BED-17-011* | 31.4 | 45 | 13.6 | 0.34 | | Incl | 31.4 | 35.7 | 4.3 | 0.51 | | BED-17-012* | 23.9 | 25 | 1.1 | 0.74 | | BED-17-013* | 12.5 | 35.5 | 23.0 | 0.80 | | incl | 12.5 | 16.5 | 4.0 | 3.09 |
| 14.5 | 15.5 | 1.0 | 11.2 | | | 34.5 | 35.5 | 1.0 | 4.04 | | BED-17-014* | 13 | 49 | 36.0 | 0.63 | | incl | 13 | 25 | 12.0 | 1.16 |
| 13 | 18 | 5.0 | 2.06 |
| 23 | 25 | 2.0 | 1.4 |
| 44 | 49 | 5.0 | 1.55 |
| 44 | 45 | 1.0 | 5.83 | | BED-17-015A | NSA | | BED-17-016 | 84.7 | 92.7 | 8.0 | 2.4 | | incl | 88.9 | 92.7 | 3.8 | 4.76 | | | 88.9 | 91 | 2.1 | 7.87 | | BED-17-017 | NSA | | BED-17-018 | 42.7 | 62.2 | 19.5 | 0.13 | | BED-17-019 | 74.2 | 80 | 5.8 | 2.03 | | incl | 74.2 | 78.2 | 4.0 | 2.73 | | BED-17-020 | 67.9 | 71.6 | 3.7 | 0.35 | | BED-17-021 | 58.1 | 100 | 42.3 | 0.21 |
Note: intervals are reported as drill core lengths
* - indicates previously reported
The core was split or cut in half with one half being stored for future reference and the other half tagged and sent to Activation Laboratories Ltd. in Thunder Bay, ON. The core samples were analyzed for gold using using fire assay with an atomic absorption finish. Samples with grades greater than 5gpt gold were completed with a gravimetric finish. Standards and blanks were inserted into the sample batches as part of the Company's QA/QC protocols.
In addition, the Company also wishes to announce that Sokoman Iron Corp. ("Sokoman") has made its first anniversary payment of 500,000 Sokoman shares to the Company pursuant to an option to acquire a 100% interest in the Alder East project (See Company PR dated December 16, 2016). Benton now holds a total of 1,655,000 shares of Sokoman.
Benton also controls the Cape Ray gold deposits located on the west coast of Newfoundland and is evaluating various opportunities to advance the project in the best interest of the shareholders. The previously announced results of the Cape Ray PEA include a pre-tax net present value ("NPV") at a 7% discount rate of $48.5 million with a pre-tax internal rate of return ("IRR") of 31% and a post-tax NPV at a 7% discount rate of $32.4 million with a post-tax IRR of 25%. The reader should be cautioned that the PEA is preliminary in nature. It contains inferred mineral resources that are considered too speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves.
About Benton Resources Inc. (TSXV: BEX)
Benton Resources Inc is a well-funded Canadian-based junior with a diversified property portfolio in Gold-Silver, Nickel, Copper, and Platinum group elements.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Inc., is the qualified person responsible for this release has prepared, supervised the preparation or approved the scientific and technical disclosure in the news release.
On behalf of the Board of Directors of Benton Resources Inc.,
"Stephen Stares"
Stephen Stares, President
For further information contact Stephen Stares @:
684 Squier Street,
Thunder Bay, ON P7B 4A8
Phone (807)475-7474
Fax (807)475-7200
www.bentonresources.ca |
