Benton Acquires High Grade Ni-Cu-PGM Project
THUNDER BAY, ONTARIO--(Marketwired - Sep 30, 2015) - Benton Resources Inc. (TSX VENTURE:BEX) ("Benton" or "the Company") is pleased to announce the acquisition of 100% ownership in the Providence Lake Nickel ("Ni") - Copper ("Cu") - Cobalt ("Co") - Platinum Group Metals ("PGM") property from Platinum Group Metals Ltd. ("Platinum Group").
The Providence Project is comprised of 11 mining leases and is located in the Northwest Territories ("NWT") within 70km from the Diavik Diamond Mine and thus provides a potential access route using the existing ice road. The project covers approximately 20km of the Providence Lake Volcanic Belt, a suite of ultramafic to mafic rocks with the potential to host komatiitic Ni-Cu-Co-PGM deposits of economic importance. The property comes with an established camp, equipment and a well assembled data base of drilling, geology, geophysics, geochemistry and modeling which has totaled more than $5.5 million in historical expenditures. Diamond drilling to date consists of approximately 6000m in 31 drill holes and has produced exciting results, of which some of the intersections of the massive sulphide mineralization are listed below:
| Core Length (m) | Ni (%) | Cu (%) | Co (%) | Pt (gpt) | Pd (gpt) | Rh (gpt) | ||||||
| 5.1 | 1.73 | 1.75 | 0.17 | 0.25 | 1.23 | 0.79 | ||||||
| 2.3 | 1.67 | 0.75 | 0.17 | 8.79 | 1.23 | 0.28 | ||||||
| 5.7 | 1.13 | 0.85 | 0.11 | 3.7 | 1.1 | 0.26 | ||||||
| 4.25 | 1.79 | 1.41 | 0.15 | 0.13 | 1.9 | |||||||
| 3.65 | 1.79 | 1.41 | 0.15 | 0.12 | 2.16 |
The mineralized horizon consists of massive to disseminated sulphide and has been traced by drilling for over 450m in strike length and 300m deep and remains open for further drill testing.
Benton has acquired the project by making an approximate $28,000 lease payment to the NWT government and granting Platinum Group a 0.75% NSR along with a 0.5% NSR to Arctic Star Exploration Corp. Benton is will actively seek a partner to help advance this exciting project and interested parties can contact the Company using the information provided below.
About Benton Resources Inc. (TSX VENTURE: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.
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.
Contact
Benton Resources Inc.
Stephen Stares
3250 Highway 130, Rosslyn, ON P7K 0B1
Phone (807)475-7474
Fax (807)475-7200
www.bentonresources.ca