THUNDER BAY,
ON, Feb. 13, 2013 /CNW/ -
Benton Resources Inc. (TSXV: BEX) ("Benton" or "the
Company") is pleased to announce that the ongoing exploration
program has outlined extensive and significant gold (Au) and silver
(Ag) mineralization in multiple areas at the Elizabeth Anne
gold-silver project. Most encouraging is a new mineralized area
west of the Central Zone termed the Rascal Showing where previous
selective grab sampling returned up to 1955gpt Ag (see Benton NR
January 10, 2013). Follow-up
surface chip sampling has outlined widespread continuous
mineralization that graded 0.50gpt Au and 13.2gpt Ag over
79.25m within a broader halo of 0.27gpt Au and 5.64gpt Ag
over 247m. This longer interval contains a small 16m gap
that was given the value of zero for the purposes of calculating
these weighted averages and infill sampling has been completed with
assay results pending. Another sub-parallel continuous chip
sampling interval splayed off the first graded 0.29gpt Au and
30.47g/t Ag over 91.4m.
Approximately 1300m to the southeast of the
Rascal Zone, several continuous chip sampling lines were completed
over the North Mega-Breccia area to follow up a recent selective
grab sample that graded 43gpt Au. The best continuous chip
sample in this area returned a weighted average of 0.41gpt Au
and 1.36gpt Ag over 33.5m. All lines of chip sampling at
the Rascal and North Mega-Breccia zones were oriented in an east
west direction in an attempt to cut across north and north east
oriented mineralization that remains open in all directions.
The chip sampling was conducted along the top of ridges where
exposure is best and consisted of the collection of 3.048m (10
feet) long chip samples that ranged from 7-10kg per sample.
All samples were sent to ALS Global in Reno Nevada and were analyzed for gold using
fire assay and atomic absorption plus gravimetric finish for higher
grade samples. Silver analysis was part of a multi-element,
Aqua Regia package plus ICP for ore-grade samples.
Given the effectiveness of the sampling programs
the Company has completed to date, new sampling programs are
currently being planned and are scheduled to start before the end
of February. A map showing all samples taken to date will be
placed on the Company's website. The results to date appear to
illustrate that a large gold-silver mineralizing system is
unfolding on the Elizabeth Anne project. Stephen Stares, Benton's President and CEO
states "The alteration and silica textures found on the surface at
Elizabeth Anne all suggest that the mineralization is associated
with low temperature fluids and that better gold and silver
precipitation should be associated with higher temperature boiling
fluids below this. A detailed aeromagnetic survey at 50m
centres should be completed within the next week or two and
although we still have more ground work to complete we hope to
start the next phase of diamond drilling by early April."
The Elizabeth Anne gold property is located
approximately 35km west of the Mountain Pass rare earth mine in
San Bernardino County, California
and the Company believes that the Elizabeth Anne project lies
within the southern part 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. (BEX: TSX.V)
Benton Resources Inc is a 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
$8.6 million in cash and $4.3 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.