Benton Initiates Drilling at the Elizabeth Anne Gold-silver Project
April 10, 2013 (Source: CNW) Thunder Bay, ON — Benton Resources Inc. (TSXV: BEX) (“Benton” or “the Company”) is pleased to announce that drilling has commenced on the Elizabeth Anne gold-silver project located approximately 35km west of the Mountain Pass rare earth mine in San Bernardino County, California. The Company is planning for a minimum of 3,000 metres (m) of diamond drilling in 8-10 holes to test several areas of significant gold (Au) and silver (Ag) mineralization which includes the Rascal Zone, C-Zone, Mega-Breccia and North Mega-Breccia Zones. Other mineralized areas of interest include the Chlorite and North Chlorite Zones that will be permitted for drilling in the near future. Surface sampling at the North Chlorite zone graded from trace up to 11.75 grams per tonne (gpt) Au in selected grab samples with continuous chip samples grading 5.6gpt Au over 3.05m and 0.8gpt Au over 24.4m including 1.1gpt Au over 18.3m. The mineralization is open in all directions and located 2km east of the Mega-Breccia Zone. Benton has now completed extensive prospecting and mapping programs that have returned encouraging gold and silver values in grab and chip samples over an area measuring approximately 1,000m x 5,000m which can be viewed on the Company’s website. Significant results from Benton’s surface sampling and drilling programs are as follows (* denotes previously released results):
Chip1 – 0.27gpt Au & 5.64gpt Ag over 247m, includes 0.50gpt Au & 13.2gpt Ag over 79.3m * Chip2 – 0.29gpt Au & 30.47gpt Ag over 91.4m * Chip3 – 0.32gpt Au & 5.9gpt Ag over 140.2m and includes 0.71gpt Au & 16.1gpt Ag over 33.5m (new).
Selective grab sampling returned up to 4,100gpt Ag with 48gpt Au and 1,955gpt Ag with 18gpt Au within and around this zone *. This zone will be drill tested during the current drill campaign.
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Surface sampling: Chip1 – 0.42gpt Au & 1.75gpt Ag over 51.8m (new)
Diamond Drill Results:
- 0.55gpt Au and 1.41 gpt Ag over 111.25m, includes 5.54gpt Au and 14.74gpt Ag over 4.58m in EA-12-01*
- 0.86gpt Au and 1.69gpt Ag over 54.86m, includes 5.55gpt Au and 9.55gpt Ag over 6.1m in EA12C-03 *
- 0.4gpt Au and 1.8gpt Ag over 15.2m in EA12C-10 *
- 0.6gpt Au and 5.0gpt Ag over 21.3m in EA12C-11 *
North Mega Breccia Zone
- Chip1 – 0.1gpt Au & 2.2gpt Ag over 36.6m *
- Chip2 – 0.41gpt Au & 1.25gpt Au over 79.2m *
- Chip3 – 0.1gpt Au & 1.23gpt Ag over 24.4m *
- Chip4 – 0.26gpt Au & 0.4gpt Ag over 30.5m * This zone has not previously been tested and will be drilled during this campaign
- 6.56gpt Au and 36.87gpt Ag over 25.91m, incl. 10.92gpt Au and 60.1gpt Ag over 15.24m in hole EA12C-05 *
- 0.6gpt Au and 10.86gpt Ag over 83.8m, incl.11.9gpt Au and 381gpt Ag over 1.5m in EA12C-12 *
- 0.4gpt Au and 147gpt Ag over 3.1 meters in EA12C-06 *
- 0.43gpt Au and 8.8gpt Ag over 33.5m, incl. 1.0gpt Au and 12.1gpt Ag over 7.6m in EA12C-08 *
All samples were sent to ALS Global in Reno, Nevada and were analyzed for gold using fire assay and atomic absorption with gravimetric finish for higher grade samples. Silver analysis was part of a multi-element, Aqua Regia package plus ICP for ore-grade samples.
The Elizabeth Anne gold property is considered to lie within the southern part of the Walker Lane Gold Belt which hosts several multi-million ounce gold deposits. The Company can earn a 100% interest in the Property by paying $1.2 million over 13 years subject to a 3% Net Smelter Royalty (NSR) of which Benton has the right to purchase 50% of the NSR (1.5%) for $1.5 million and holds a Right of First Refusal to match any offer on the other 1.5% NSR.
Benton Resources Inc is a newly listed Canadian-based junior with multiple joint ventures and a diversified property portfolio in Gold-Silver, Nickel, Copper, and Platinum group elements. The Company is well funded with approximately $9.5 million in cash and $2.1 million in marketable securities.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Inc., is the qualified person responsible for this release.
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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