Benton Provides Update on Drill Programs and Options Gold Project in Timmins Area
August 10 2011 - 9:00AM
Marketwired
Benton Resources Corp. (TSX VENTURE: BTC) ("Benton" or "the
Company") is pleased to announce that the Company has commenced
diamond drilling on its 100% owned RIM copper nickel project
located 100km south of the world class Voisey's Bay nickel deposit.
The program will consist of 6-7 diamond drill holes totaling
approximately 3000 metres testing a series of east-west trending
conductive anomalies located within the mapped outline of the main
Suture Zone. The Company believes that the conductors may represent
magmatic sulphide along an east-west trending structural conduit
cutting through the Suture Zone similar to the emplacement of the
Voisey's Bay deposit. Results of the drilling will be released
after they been completed and compiled by Company personnel.
In addition, Benton is planning a 6-8 diamond drill hole program
on its 100% owned Abernethy gold project located 10km southwest of
Kenora, Ontario. The property covers several well defined zones of
electromagnetic conductors associated with gold in soil
geochemistry. One of these historically well defined zones has a
strike length of at least 640 metres long and up to 210 metres wide
and was tested with 3 historical diamond drill holes returning
grades up to 17.8 gpt gold over 1.52 metres and 6.30 gpt gold over
6.1 metres (see Benton's PR dated April 18, 2011). Recent forestry
logging operations have opened entry to several areas within the
claim group providing excellent access to the known
mineralization.
The Company would also like to announce that it has acquired an
option on 13 claims totaling 107 units located in Sewell Township
in the west Timmins mining area. The Sewell property is an early
stage gold project with several newly discovered gold occurrences
which may host mineralization of economic potential. Under the
option the Company can earn 100% by paying $200,000 cash and
200,000 shares over 4 years. The project is also subject to a 2%
Net Smelter Return with the Company retaining the option to buy
back 1%. This agreement is subject to TSX and regulatory
approval.
Finally, Benton would also like to announce that after
completion of its due diligence the Company has cancelled its right
to option the Melba project (see Benton's PR dated May 2,
2011).
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
$12.2 million in cash, owns approximately 57.9 million shares in
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 approximately 1.6 million
shares in Puget Ventures (TSX VENTURE: PVS), holds approximately
6.5 million shares of Mineral Mountain Resources Ltd. (TSX VENTURE:
MMV), holds 815,000 shares of Bell Copper Corporation (TSX VENTURE:
BCU), holds approximately 1.7 million shares of Trillium North
Minerals (TSX VENTURE: TNM), holds approximately 1.6 million shares
of Golden Dory Resources (TSX VENTURE: GDR) and holds 3 million
shares Parkside Resources (currently a private corporation). 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 approximate 41.6% investment in Coro Mining Corp.
from its cash, equities and exploration assets. Benton shareholders
will receive a pro-rata interest in this new company on a
one-for-one share basis and pursuant to regulatory approval.
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.
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 President
(807)475-7474 (807)475-7200 (FAX) www.bentonresources.ca Clair
Calvert Investor Relations 204-799-2086