THUNDER BAY,
ON, Feb. 22, 2013 /CNW/ -
Benton Resources Inc. (TSXV: BEX) ("Benton" or "the Company") is
pleased to announce an update for the ongoing exploration program
at their Elizabeth Anne project. A combined aeromagnetic and
radiometric survey has been completed over the project area by
Precision GeoSurveys Inc. of Vancouver,
Canada that included 650 line-kilometres at 50 metre
spacing. Ongoing surface sampling has identified at least six areas
of gold and silver mineralization. Most encouraging is new
high grade gold and silver mineralization along the southern margin
of the Rascal Zone where selective grab samples returned up to
48.1 gram per tonne (gpt) gold (Au) with 4110 gpt silver
(Ag). This new mineralization is situated approximated
250m south of the previously announced high grade Ag in selective
samples that assayed as high as 1955gpt Ag (see Benton NR dated
January 10, 2012). Ongoing
surface chip sampling is also being conducted at the numerous
mineralized zones including further follow-up to previously
reported chip samples 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 over the Rascal Zone (see Benton NR dated
February 13, 2013). Benton
anticipates starting the next phase of diamond drilling by early
April to test not only the North Mega-Breccia and Central zones,
but also the new Rascal Zone mineralization. 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.
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
$10 million in cash and approximately
$2.8 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.