Benton continues to discover gold & silver mineralization at
the Elizabeth Anne property
TSX-V: BEX
THUNDER BAY,
ON, Jan. 10, 2013 /CNW/ -
Benton Resources Inc. (TSXV: BEX) ("Benton" or "the
Company") is pleased to announce the discovery of several new high
grade gold and silver showings at the Elizabeth Anne Gold Project.
To date the company has completed and received results from a total
of 562 surface grab and chip samples over a large area measuring
approximately 40 square kilometres. The results are very
encouraging and include highlights ranging from trace to
89.3g/t gold and trace to 1955g/t
silver. In addition to the new high grade gold and silver
showings, several localized areas show highly anomalous amounts of
copper up to 12.15%, lead up to 3.13% and bismuth up to 0.23% in
surface sampling.
Much of the new surface sampling has identified
two new areas of interest that require follow-up exploration work.
One area situated to the north west of the Central (C1) zone is
defined by copper-gold-silver mineralization occurring over an area
greater than 2km long by 500m wide. The mineralization is
predominantly associated with aplitic dyke swarms in a quartz
monzonite intrusion and as a result, additional ground has been
staked to cover this new anomalous area. A second area of new
mineralization has been uncovered approximately 3km due east of the
C1 zone and consists of highly anomalous gold-silver mineralization
spread over a 200x200m area.
The company anticipates the current mapping and
prospecting program to be completed shortly with further results
being released once they are received and compiled. A
follow-up ground geophysical survey, including detailed
magnetometer and Induced Polarization (I.P.), will be integrated
with the geological mapping and surface sampling results to
delineate and prioritize future diamond drill targets.
Drilling is expected to commence in the coming months.
Benton's management continues to be very
encouraged by the results and in less than 12 months, the Company
has identified multiple new high grade gold and silver zones,
completed 4153 meters of drilling in 13 holes with significant
previously released results of:
- 10.92gpt gold and 60.1g/t Ag over 15.24m in hole
EA12C-05,
- 5.55gpt Au and 9.55g/t Ag over 6.1m in
EA12C-03,
- 5.54gpt Au and 14.74g/t Ag over 4.58m in EA-12-01
and
- 11.9gpt Au and 381g/t Ag over 1.5m in
EA12C-12
(see Benton N.R. dated October 12,
2012)
A complete range for the 562 surface samples is listed
below:
Silver
Highest silver assay = 1955 gram/tonne Ag (approx.
57oz/ton)
- 6.5% or 37 samples assayed ≥100g/t Ag
- 10% or 57 samples assayed ≥50g/t Ag
- 14% or 79 samples assayed ≥30/t Ag
- 24% or 134 samples assayed ≥10g/t Ag
- 50% or 282 samples assayed ≥1g/t Ag
Gold
Highest gold assay = 89.3 gram/tonne Au (approx. 2.6
oz/ton)
- 8.5% or 48 samples assayed ≥2g/t Au
- 10% or 58 samples assayed ≥1g/t Au
- 17% or 97 samples assayed ≥0.5g/t Au
- 24% or 136 samples assayed ≥0.25g/t Au
- 37% or 209 samples assayed ≥0.1g/t Au
Stephen Stares,
the Company's President and CEO commented "we are very pleased with
the results of the ground work completed to date on this project
and anxiously anticipate the completion of the geological,
geophysical and prospecting program in order to delineate
additional drill targets for our next phase of drilling. We
believe that the project lies in a setting that has the potential
to host an economic resource and we will continue to work
diligently to advance this project".
The Elizabeth Anne gold property is located
approximately 19 miles (30km) west of the Mountain Pass rare earth
mine in San Bernardino County,
California. The Company believes that the Property lies
within the southern portion of the Walker Lane Gold Belt which
hosts several multi-million ounce gold deposits. The Company
can earn a 100% interest in the Property by paying $1.2 million over 13 years subject to a 3% Net
Smelter Royalty (NSR) of which Benton has the right to purchase 50%
of the NSR (1.5%) for $1.5 million
and holds a Right of First Refusal to match any offer on the other
1.5% NSR.
About Benton Resources Inc. (TSXV: BEX)
Benton Resources Inc is newly listed Canadian
based junior with multiple joint ventures and a diversified
property portfolio in Gold-Silver, Nickel-Copper, and Platinum
group elements. The Company is well-funded with approximately
$5.27 million in cash and
$7.0 million in marketable
securities.
Clinton Barr
(P.Geo.), V.P. Exploration for Benton Resources Inc., is the
qualified person responsible for this release.
On behalf of the Board of Directors of Benton
Resources Inc.,
"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.
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
SOURCE Benton Resources Inc.