Copper-Gold Miner Benton (TSXV: BEX) Receives Further High-Grade Copper Results
Including 5.81% Cu over 24.00 m at Great Burnt Project in Newfoundland
Thunder Bay, Ontario - January 30, 2024 (Newsfile Corp.) (Investorideas.com Newswire) Benton Resources Inc. (TSXV: BEX) ("Benton" or the "Company") is pleased to announce that it has received assays from the final five Phase 1 drill holes from the fall drill program at the Great Burnt Copper deposit, located in south-central Newfoundland. The last five holes (GB-23-18 to GB-23-22) were drilled in the central and upper part of the deposit and returned exceptional results that both confirm and improve significantly on historic data. Highlights from these infill holes include:
- Hole GB-23-18 cut 4.22% copper over 8.17m, including 7.05% copper over 4.17m
- Hole GB-23-20 cut 3.05% copper over 17.12m, including 11.11% copper over 1.85m
- Hole GB-23-21 cut 5.81% copper over 24.00m, including 11.47% copper over 7.00m
- Hole GB-23-22 cut 3.59% copper over 21.68m, including 15.30% copper over 2.00m
Benton's Phase 1 drilling at Great Burnt has been extremely successful in expanding the previously defined limits of the deposit through expansion drilling and increasing the grade and width of the deposit from infill and twin-hole drilling. With these latest results, the Company is extremely optimistic that the present Mineral Resource can be significantly improved. Additional drilling is being planned and will commence this winter.
The Company is encouraged by the results of these latest drill holes and plans to further test the deposit, both within the current Mineral Resource area and also by expanding the deposit down plunge and along strike during the Phase 2 program.
President and CEO Stephen Stares stated: "This has been the most successful drill campaign in the history of our Company, delivering exceptional grades and thicknesses. Our team is excited about the future of this excellent project and our ability to expand the deposit. Calibre Mining Corp.'s Valentine Gold project and New Found Gold Corp.'s Keats discovery are excellent analogs of historically underexplored projects in Newfoundland that now host significant resources resulting from completing the work required to expose their true size and value. We feel that the Great Burnt Project will benefit similarly as we advance this very prospective project."
Note: Intervals reported for the Phase 1 2023 drilling are core lengths, estimated to be approximately 90-95% of true width for holes GB-23-11, 12, 13, 14, 22 and approximately 70% of true width for the remaining holes. Intercepts do not include stringer/disseminated mineralization.
In addition to drilling, prospecting and soil geochemical sampling completed by the Company have confirmed excellent potential to the north of the main Great Burnt deposit, where historical work has identified at least five additional occurrences/zones. The Company will conduct further detailed exploration in preparation for drilling these areas in the spring/summer of 2024.
Core and rock samples, including standards, blanks and duplicates, are submitted to Eastern Analytical Ltd., Springdale, Newfoundland for preparation and analysis. All samples were acquired by saw-cut (channels/drill core) with one-half submitted for assay and one-half retained for reference, or hand (rocks) and delivered, by Benton personnel, in sealed bags, to the Springdale lab of Eastern Analytical, which is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples are analysed using Eastern's Au (Fire assay) @ 30g + ICP-34 method that delivers a 35-element package utilizing a 200mg subsample totally dissolved in four acids and analysed by ICP-OES analytical technique. Overlimits are analysed with Eastern's atomic absorption method, using a 0.200g to 2.00g of sample, digested with three acids. All reported assays are uncut. Eastern Analytical Ltd. achieved ISO 17025 accreditation in February 2014 (for more details on the scope of accreditation visit the CALA website).
Stephen House (P.Geo.), Vice President of Exploration for Benton Resources Inc., the 'Qualified Person' under National Instrument 43-101, has approved the scientific and technical disclosure in this news release and either prepared it or supervised its preparation.
About Benton Resources Inc.
Benton Resources is a well-financed mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Following a project generation business model, Benton has a highly prospective multi-mineral property portfolio. In addition, it holds large equity positions in other mining companies that are advancing high-quality assets, and whenever possible, BEX retains net smelter return (NSR) royalties with potential long-term cash flow.
Benton is currently focused on advancing its high-grade Copper-Gold Great Burnt Project in central Newfoundland, which has a Mineral Resource estimate of 442,000 tonnes @ 2.50% Cu Indicated and 829,000 @ 2.11% Cu Inferred. The Project has an excellent geological setting covering 25 km of strike and boasts six known Cu-Au-Ag zones over 15 km that are all open for expansion. Further potential for discovery is excellent given the extensive number of untested geophysical targets and Cu-Au soil anomalies. The Phase 1 drill program consisting of over 5,650 metres has just been wrapped and results include 25.42 m of 5.51% Cu, including 9.78 m of 8.31% Cu, and 1.00 m of 12.70% Cu from hole GB-23-12. Preparation for Phase 2 drilling is underway.
On behalf of the Board of Directors of Benton Resources Inc.,
Stephen Stares, President
Parties interested in seeking more information about properties available for option can contact Mr. Stares at the number below.
For further information, please contact:
Stephen Stares, President & CEO
Grove Corporate Services
Iryna Zheliasko, Manager - IR & Corporate Communications
Phone: 647-249-9298 x 322
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.
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