Benton Drilling Identifies Significant Gold Trend on Shebandowan Gold Project
June 07 2011 - 9:00AM
Marketwired
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