Benton Commences Diamond Drilling on Its Far Lake Copper Project, Ontario
Thunder Bay, September 30, 2020 - Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is pleased to announce it has mobilized a diamond drill rig to its Far Lake Copper project located 80km west of Thunder Bay, Ontario. The 2000m Phase 1 drill program will test priority targets identified from the Company's recently completed exploration programs, including the Far Lake #1 Structure where highlights include a 0.7m channel sample across massive sulphide that assayed 22.0% Cu, 30.2 g/t Ag and 0.25 g/t Au, and other channel samples along a 200m strike length containing 3.54% Cu over 3.0m, including 4.96% Cu over 1.0m. In addition, several other large structures associated with coincidental soil and/or rock geochemical anomalies will also be tested within a 2.5 square kilometre area in variously identified structures which exhibit silicification, brecciation and contain chalcopyrite mineralization.
Certain mineralization (chalcopyrite ± bornite, covellite, magnetite, hematite) and alteration (silicification, carbonate, sericite) identified to date at Far Lake displays characteristics suggestive of multiple mineralizing events and resemble certain aspects of porphyry and IOCG style alteration and mineralization. Other evidence for these models at Far Lake includes elevated rare earth and uranium geochemistry over 500m within the centre of the main magnetic high (granitic intrusive) and a moderate Zn soil geochemical anomaly surrounding the periphery of the soil survey.
Benton is encouraged to have a number of additional targets resulting from systematic geochemical surveying and overburden stripping and looks forward to continuing its exploration efforts and evaluating the potential for the discovery of a economic copper system. Maps displaying the results can be viewed on the Company's website.
Equity Holdings
Benton continues to be very excited about the future of Clean Air Metals Inc. ("Clean Air"), in which Benton holds 24.6 million shares. Clean Air currently has two drill rigs operating on the Thunder Bay North and Escape Lake Copper-Nickel-PGM project and has released excellent drill results from its ongoing drill campaign. Benton anticipates ongoing success for Clean Air and looks forward to future project developments and drill results.
Benton also holds 4.2 million shares of Quadro Resources Ltd., which is advancing various projects in Newfoundland and Ontario. Additionally, Benton holds 2 million shares of Maxtech Ventures Inc., which has an Option and Joint Venture agreement on Benton's Panama Lake gold project in the Red Lake mining region. Further, Benton holds 1 million shares of Sokoman Minerals Corp. which has released excellent drill results from its Moosehead Project in Newfoundland and has now commenced Phase 6 drill program. Benton also has two NW Ontario projects optioned to Rio Tinto Exploration Canada (the Bark Lake and Baril Lake Copper-Nickel PGE projects).
QP
Nathan Sims (P.Geo.), Senior Exploration Manager for Benton Resources Inc., the 'Qualified Person' under National Instrument 43-101, has approved the scientific and technical disclosure in this news release and prepared or supervised its preparation.
On behalf of the Board of Directors of Benton Resources Inc.,
"Stephen Stares"
Stephen Stares, President
About Benton Resources Inc.
Benton Resources is a well-funded Canadian-based project generator with a diversified property portfolio in Gold, Silver, Nickel, Copper, and Platinum group elements. Benton holds multiple high-grade projects available for option which can be viewed on the Company's website. Most projects have an up-to-date 43-101 Report available.
Parties interested in seeking more information about properties available for option can contact Mr. Stares at the number below.
For further information, please contact:
Stephen Stares, President & CEO
Phone: 807-475-7474
Email: sstares@bentonresources.ca
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x231
Email: cathy@chfir.com
Website: www.bentonresources.ca
Twitter: @BentonResources
Facebook: @BentonResourcesBEX
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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64912