Benton Releases Final Drilling Results at Abernethy
(firmenpresse) - THUNDER BAY, ONTARIO -- (Marketwire) -- 12/22/11 -- Benton Resources Corp. (TSX VENTURE: BTC) ("Benton" or "the Company") is pleased to announce that the Company has now received all assay results from its recently completed diamond drilling program on its 100% owned Abernethy gold project located 10km southwest of Kenora, Ontario. The drill program has confirmed the potential to outline a significant gold resource on the property. A total of nine holes were drilled with seven of the holes testing the main horizon and the other two testing areas north and south of the main horizon. The main horizon known as the "Mingold Zone" has been traced for approximately 550m in strike length and up to 77m core length in width and is open in all directions. The Mingold Zone was discovered by a single hole drilled by Hudbay minerals in 1965 (17.8 gpt gold over 1.52 metres) and subsequently three more holes drilled by MinGold in 1989 which returned up to 6.30 gpt gold over 6.1 metres (see Benton's PR dated April 18, 2011).
Benton's drill campaign was successful in confirming and expanding the mineralization in strike length and at shallow depths. The gold mineralization warrants further drilling to test the full extent, grade and potential of this new discovery. Based on the limited shallow diamond drilling completed to date the mineralization appears to be a large gold system with multiple parallel zones. A location map can be viewed on the company's web site and a table of significant results from all drill holes is listed below:
In addition, Benton is pleased to announce that Mineral Mountain Resources (TSX VENTURE: MMV) has made its final share payment under its agreement with Benton to purchase the Golden Harp Copper Hill option (see Benton's PR dated October 26, 2010). Benton now holds approximately 8.47 million shares of Mineral Mountain's issued and outstanding shares.
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 $8.4 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 1.6 million shares in Puget Ventures (TSX VENTURE: PVS), holds 8.47 million shares of Mineral Mountain Resources Ltd. (TSX VENTURE: MMV), and holds 815,000 shares of Bell Copper Corporation (TSX VENTURE: BCU) holds 1.2 million shares of Trillium North Minerals (TSX VENTURE: TNM), holds 1.5 million shares of Golden Dory Resources (TSX VENTURE: GDR) and 3.0 million shares Parkside Resources (currently private) 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 41.6% investment in Coro Mining 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
(807)475-7474
(807)475-7200 (FAX)
Investor Relations
Clair Calvert
204-799-2086
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Datum: 22.12.2011 - 14:00 Uhr
Sprache: Deutsch
News-ID 99479
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THUNDER BAY, ONTARIO
Kategorie:
Mining & Metals
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