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BENTON COMMENCES SECOND PHASE DRILL PROGRAM AT BEDIVERE GOLD PROJECT

BENTON COMMENCES SECOND PHASE DRILL PROGRAM AT BEDIVERE GOLD PROJECT

 November 8, 2017

 

Thunder Bay, Ontario: Benton Resources Inc. (TSXV: BEX) (“Benton” or “the Company”) is pleased to announce that it has commenced a second round of diamond drilling on its Bedivere Gold project located in northwestern Ontario.  The program will consist of approximately 1,200m and is designed to test the main Traxxin zone at depth and along strike as well as to test multiple targets identified within the main structure corridor over a distance of 7km  associated with Induce Polarization, Electro Magnetic, Magnetics and soil geochemistry survey work completed previously.  The initial diamond drill holes of this program will test the 800m long conductor on the southern part of the main structure near Sandy Lake where highly anomalous and wide spread copper and zinc values occur in soil and rock geochemistry samples.  

 

Highlights from the previously released 14 diamond drill holes include 1.5gpt (grams per tonne) Au (gold) over 14.0m including 6.43gpt over 2.0m in BED-17-001 and 37.3gpt Au over 1.0m in BED-17-003 where visible native gold was noted and 3.09gpt Au over 4.0m and 11.2gpt Au over 1.0m and a second parallel zone of 4.04gpt over 1.0m in BED-17-13 (See Company news releases dated August 17, 2017, August 23, 2017 and August 31, 2017).  Results from the current drill program will be released once received and compiled by the Company’s technical team.

 

Benton also controls the Cape Ray gold deposits located on the west coast of Newfoundland and is currently working on various ways to advance the project in the best interest of shareholders.  The previously announced results of the Cape Ray PEA 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. 

 

Finally, the Company has granted 2,525,000 incentive stock options to directors, officers, employees and consultants of the Company, exercisable at a price of $0.10 per share for a period of five years from the date of grant.

 

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"

 

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

Phone (807)475-7474

Fax (807)475-7200

www.bentonresources.ca

 

 

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684 Squier St
Thunder Bay, ON
P7B 4A8
(P) 807.475.7474
(F) 807.475.7200

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