Benton Intersects Multiple Nickel-Copper-Cobalt Zones at Kingurutik Nickel Project and Commences Drilling in Timmins
October 19 2010 - 10:02AM
Marketwired Canada
Benton Resources Corp. ("Benton" or "the Company") (TSX VENTURE:BTC) is pleased
to announce the Company has received assay results from the recently completed
drill program on the Kingurutik Lake Nickel project located approximately 60
kilometers north of the world class Voisey's Bay nickel-copper-cobalt deposit.
The project is a joint venture between Benton and Teck Resources Limited
("Teck"). Teck did not contribute to the current program and as a result will
incur dilution of its interest which was 50% prior to the program. The amount of
dilution will be calculated once the final program expenditures have been
approved. Several of the drill targets tested intersected magmatic sulphide
mineralization that returned significant amounts of nickel, copper, and cobalt
values that suggests further work is warranted to evaluate the size of these
mineralized zones. Of particular interest are the results from the A Zone area
that was tested with a single drill hole (KL10-11). This hole intersected
multiple intervals of semi-massive sulphide with several sections grading better
than 1% nickel and 1% copper. Follow-up work is currently being planned for
early spring to explore and delineate the significant mineralization.
A table of significant results are as follows:
Hole Number Location From (m) To (m) Width (m) Ni (%) Cu (%) Co (%)
KL10-01 P Zone 3.75 9.30 5.55 0.29 0.31 0.05
including 4.75 5.40 0.65 0.68 0.62 0.10
including 9.00 9.30 0.30 0.63 0.28 0.10
KL10-02 P Zone 15.80 16.40 0.60 0.60 0.26 0.09
and 24.25 24.55 0.30 0.52 0.40 0.08
and 28.95 29.75 0.80 0.48 0.49 0.08
and 36.50 36.90 0.40 0.32 0.76 0.06
and 164.19 164.64 0.45 0.40 0.68 0.06
KL10-03 P Zone 6.00 6.40 0.40 0.34 0.54 0.08
and 11.90 12.90 1.00 0.46 0.48 0.07
and 26.40 27.10 0.70 0.59 0.38 0.09
and 31.10 34.00 2.90 0.51 0.40 0.08
including 32.90 34.00 1.10 0.80 0.47 0.01
and 111.80 129.00 10.20 0.49 0.54 0.08
including 122.40 129.00 6.60 0.52 0.53 0.08
including 126.50 128.00 1.50 0.73 0.28 0.01
KL10-04 Black Beard - nsa
KL10-05 Black Beard 20.60 22.00 1.40 0.20 0.44 0.04
KL10-06 Black Beard 86.10 87.20 1.10 0.18 0.23 0.04
KL10-07 Red Beard 86.30 86.70 0.40 0.20 0.35 0.05
KL10-08 Red Beard 58.20 58.60 0.40 0.13 0.23 0.03
KL10-09 Bull South -nsa
KL10-10 Bull North - nsa
KL10-11 A Zone 12.70 13.40 0.70 1.27 1.21 0.08
and 18.40 22.80 4.40 0.85 0.71 0.09
including 18.40 19.20 0.80 1.26 0.58 0.08
including 19.20 20.10 0.90 1.47 0.48 0.09
including 21.10 22.80 1.70 0.83 1.13 0.06
including 21.10 21.80 0.70 0.06 1.20 0.01
including 21.80 22.80 1.00 1.37 1.08 0.09
KL10-12 D Grid 29.50 30.70 1.20 0.32 0.18 0.03
Benton would like to thank the government of Newfoundland and Labrador for
financial support of this project through the Junior Exploration Assistance
program, part of the provincial Mineral Incentive Program.
Benton also wishes to announce that it has initiated drilling on the Deloro
property, located 900 meters west of the past producing Delnite gold mine in
Timmins, Ontario. A 1,500 meter drill program will test at depth, the south zone
mineralization previously intersected in the December, 2009 and January, 2010
drilling programs. The South Zone is located approximately 500 meters south of
the Delnite mine horizon. Mineralization consists of brecciated
quartz-tourmaline veins hosted with pyrite rich sericitized mafic volcanic
rocks. Significant results from previous drilling by Benton on the south zone
include 8.57 gpt (grams per tonne) Au (gold) over 3.5 meters (hole DH09-12),
5.32 gpt Au over 1.0 meters (hole DH10-14) and 3.02 gpt Au over 1.5 meters (hole
DH10-27) (see January 26, 2010 news release).
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 $8 million in cash, owns 38.7 million shares
and 19.1 million warrants in Coro Mining Corp (TSX:COP), holds 1.56 million
shares in Marathon PGM Corp (TSX:MAR), holds 1.6 million shares in Puget
Ventures (TSX VENTURE:PVS), holds 825,000 Bell Copper Corp (TSX VENTURE:BCU) and
retains a 2% Net Smelter Royalty on the northern portion of the Marathon PGM
deposit. The company is also in the process spinning out its 100% Bermuda
property to it share holders into a new company to be named Coldwell Copper
Corp.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Corp., is the
qualified person responsible for this release.
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.