Benton Drilling Identifies Significant Gold Trend on Shebandowan Gold Project
THUNDER BAY, ONTARIO -- (Marketwire) -- 06/07/11 -- Benton Resources Corp. (TSX VENTURE: BTC) ('Benton' or 'the Company') is pleased to announce that the Company has intercepted significant gold horizons along with anomalous platinum and palladium from the recently completed diamond drill campaign on the Shebandowan Gold project. The Shebandowan property is located approximately 90 km west of Thunder Bay, Ontario. Benton owns a 100% interest in 17 staked claims totaling 209 claim units and has signed a Letter of Intent with Trillium North Minerals Ltd. which grants Benton the exclusive right to earn up to a 70% interest in 5 mineral claims totaling 27 units by making various option payments and work commitments (see Benton NR Jan 12, 2011).
The company drilled widely spaced reconnaissance holes to test showings from surface sampling and coincidental ground Magnetic and Induce Polarization anomalies along an area where a concentrated amount of gold grains were identified by a till sampling survey covering the Shebandowan greenstone belt completed by the Ontario Geological Survey ('OGS') in 2002. The survey identified a 5 km trend of samples containing high counts of pristine gold grains taken on Benton's newly acquired ground. Initial prospecting and sampling by Benton personnel resulted in numerous surface showings grading up to 13gpt Au. A total of 1,280 metres in 7 shallow diamond holes were completed. Five of the seven holes intersected anomalous mineralization of gold, copper and PGE's hosted in a variety of volcanic rock types. Drill intercepts as high as 19.5gpt gold over 0.8m were intersected in the recently completed drill program. Given the historical resources and new discoveries in the Shebandowan greenstone belt, the Company believes this is a very significant discovery and is planning a second phase of exploration to commence immediately including a large soil sampling survey, geological mapping, and further prospecting to outline additional targets for further diamond drill testing. Results of the recent drill program are tabulated below.
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Hole From (m) To (m) Width (m) Highlight
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SH-11-001 22.85 23.25 0.4 1.86gpt Au
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156.62 159.6 2.98 0.235g/t Pt Pd
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SH-11-002 27.82 33.9 6.08 0.195% Cu
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SH-11-003 262 262.8 0.8 19.5g/t Au & 30g/t Ag
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SH-11-006(i) 9 10 1 0.52g/t Au
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SH-11-007(i) 94.4 155.1 60.7 0.156g/t Au
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94.4 95.1 0.7 1.8g/t Au
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98.3 98.8 0.5 1.1g/t Au
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136.8 137.9 1.1 2.3g/t Au
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147.3 147.8 0.5 1 g/t Au
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154.7 155.1 0.4 2.1g/t Au
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Displayed widths are actual core thicknesses
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(i)Holes 6 & 7 were collared on claims belonging to the Benton/Trillium JV
Note: ddh SH-11-04 and 05 did not intersect any significant mineralization
Stephen Stares, Company President/CEO commented 'We are encouraged by the results of this initial diamond drill phase directed at testing a variety of geological and geophysical targets. The widespread gold mineralization indicates that a greater system could be present on the property. We are anxious to advance the property through continued exploration efforts this season with further drilling planned for later in the year.'
Since the beginning of 2011, Benton has established a 74 km cut grid on the project as well as completed more than 80 km of ground magnetic and induced polarization (IP) surveys. Soil surveying and mapping will occur immediately and throughout the summer months to assist in defining phase II drill targets.
Other OGS till sampling programs completed in northern Ontario have identified similar areas of anomalous gold grain counts in the samples which have led to significant gold discoveries. The recent gold discovery by Northern Superior Resources Inc and Rainy River Resources Ltd on their TKP joint venture in Northern Ontario and the Rainy River deposit located near Emo, Ontario are two such examples. In addition, historical prospecting has identified high grade copper values with associated highly anomalous gold.
Benton would also like to announce that the Company has received an additional 2 million shares of Mineral Mountain Resources Ltd. ('Mineral Mountain') (TSX VENTURE: MMV) taking Benton's share ownership to approximately 6.5 million shares of Mineral Mountain (refer to Benton NR dated October 26, 2010). Mineral Mountain recently announced that they have fulfilled all conditions and met all terms to earn a 60% interest in Golden Harp Resources Inc.'s Copper Hill Block A property. Mineral Mountain also announced that they intend to acquire a further 10% (increasing their interest to 70%) as permitted under the option agreement formerly held by Benton (see Mineral Mountain NR dated May 9, 2011).
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Corp., is the qualified person responsible for this release.
About Benton:
Benton is a Canadian based junior with multiple joint ventures and a diversified property portfolio in Gold, Nickel, Copper, and Platinum group elements. The Company currently has approximately $13.2 million in cash, owns approximately 57.9 million shares of Coro Mining Corp. (TSX: COP), holds approximately 348,000 shares of Stillwater Mining Company (NYSE: SWC), holds 782,500 shares in Marathon Gold Corp. (TSX: MOZ), holds 1.6 million shares in Puget Ventures (TSX VENTURE: PVS), holds approximately 6.47 million shares of Mineral Mountain Resources Ltd. (TSX VENTURE: MMV), and holds 815,000 shares of Bell Copper Corporation (TSX VENTURE: BCU). Benton is currently in the process of spinning out the majority of its assets by a plan of arrangement into a new listed company in order to separate its investment in Coro Mining from its cash, equities and exploration assets. Benton shareholders will receive a pro-rata interest in this new company via one new common share for each share held as of the effective date as yet to be determined and pursuant to regulatory approval.
On behalf of the Board of Directors of Benton Resources Corp.,
Stephen Stares, President
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
Benton Resources Corp.
Stephen Stares
(807) 475-7474
(807) 475-7200 (FAX)
www.bentonresources.ca
Investor Relations
Clair Calvert
204-799-2086