Benton Resources Corp. (BTC) Acquires New Ni-Cu Property
Thunder Bay, Ontario: Benton Resources Corp. ("Benton" or the "Company") is pleased to report that the Company has entered into a binding letter of intent to acquire the Rex Lake Nickel-Copper (Ni-Cu) property located approximately 90 kilometres north of Kenora, Ontario. The property consists of eight unpatented mining claims totaling 85 units. Benton can earn 100% interest by paying $50,000 and 30,000 shares over 3 years. The property is also subject to a 2% NSR payable to the vendor, of which Benton can buy back 1% for 1 million dollars. Historic mineral deposits in the area include the past producing Gordon Lake Ni-Cu-PGE Mine, past producing Werner Lake Cu-Co-Au Mine, and the Norpax Ni-Cu-PGE Deposit located along strike 15km, 19km and 24km east of the Rex Lake Property respectively.
Historical shallow diamond drilling completed by Eastern Mining and Smelting in 1956 intersected 23.9m (metres) grading 1.02% Cu and 15.1gpt (gram per tonne) combined precious metal (interpreted as silver) at approximately 60m vertically below surface. Diamond drilling completed by Falconbridge Nickel Mines Limited during the late 1980s intersected 1.17% Cu and 9.5gpt Ag over 29.5m (at approximately 50m vertical) that included 2.04% Cu and 5.3gpt Ag over 11.95m. An undercut drill hole intersected a metamorphosed ultramafic (peridotite) that yielded 22.8m grading 0.1% Cu and 0.31% Ni (at 140m vertical), suggesting better potential for nickel mineralization. All intervals are core lengths and true thicknesses are currently unknown. Surface channel sampling completed by Atikwa Minerals Limited in 2003 returned anomalous levels of platinum and palladium values (0.09 to 0.145gpt). The mineralization host is described as metamorphosed intrusive mafic-ultramafic (gabbro, pyroxenite, peridotite) units in sulphide-rich metasediments of Archean age.
Benton believes the property geology is highly favourable for nickel-copper mineralization and is currently organizing grid establishment to be followed by ground geophysics for this upcoming winter season. The ground work will be used to delineate diamond drill targets. This new acquisition conforms to Benton's focus of directing exploration efforts towards nickel-copper mineralization.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Corp., is the qualified person responsible for this release.
