Thunder Bay, Ontario--(Newsfile Corp. - September 28, 2017) - Benton Resources Inc. (TSXV: BEX) ("Benton" or "the Company") is pleased to provide an exploration update on the Bedivere Gold Project located in northwestern Ontario. Highlights from the previously released (see Benton PR dated August 31, 2017) initial 14 hole diamond drill program included 1.5 gpt ("grams per tonne") Au ("gold") over 14.0m ("metres") that included a higher grade interval of 6.43gpt over 2.0m in hole BED-17-001, 37.3gpt Au over 1.0m in BED-17-003 where visible native gold was noted in the core and 3.09gpt Au over 4.0m that included 11.2gpt Au over 1.0m and a second parallel zone of 4.04gpt over 1.0m in BED-17-13. To follow up on these encouraging results the Company has now completed approximately 17km of grid and a geophysical crew has been mobilized to complete an IP ("Induced Polarization") geophysical survey to better define the mineralized structure and any potential parallel or buried targets. Once the data is received and compiled a second phase of diamond drilling will start immediately. The follow-up diamond drill program will also test an 800m long airborne conductive response identified in from an airborne EM survey flown earlier this year. The conductor is located towards the southern extent of the mineralized structure. The Company will update shareholders when the drill program gets underway.
Benton also controls the Cape Ray Project located on the southwest coast of Newfoundland. The project hosts six gold deposits, four of which contain 43-101 compliant resources. The previously announced results of the Cape Ray PEA on these 4 deposits include a pre-tax net present value ("NPV") at a 7% discount rate of $48.5 million with a pre-tax internal rate of return ("IRR") of 31% and a post-tax NPV at a 7% discount rate of $32.4 million with a post-tax IRR of 25%. The reader should be cautioned that the PEA is preliminary in nature. It contains inferred mineral resources that are considered too speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. The Company is working on various ways to advance the project in the best interest of the shareholders and will inform shareholders of the upcoming plans when a concrete decision has been made.
About Benton Resources Inc. (TSXV: BEX)
Benton Resources Inc is a well-funded Canadian-based junior with a diversified property portfolio in Gold-Silver, Nickel, Copper, and Platinum group elements.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Inc., is the qualified person responsible for this release has prepared, supervised the preparation or approved the scientific and technical disclosure in the news release.
On behalf of the Board of Directors of Benton Resources Inc.,
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
For further information contact Stephen Stares @:
684 Squier Street,
Thunder Bay, ON P7B 4A8
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