Please Click Here to upgrade your Flash player at
Click here to view the printer friendly version.

Cape Ray - Gold

The Cape Ray Gold Property is located approximately 25 km north east of the town of Channel-Port aux Basques on the island of Newfoundland. The property is host to the 04, 41, 51 and Windowglass Hill (WGH) gold-silver deposits, first discovered in 1978 and acquired by Benton Resources in 2013. In 2015, Benton Resources entered in to a joint venture agreement with Nordmin Engineering, pursuant to which Nordmin will earn a 50% interest in the Cape Ray Project through a series of expenditures and services to be provided. Nordmin Engineering is currently the operator of the project.


The Cape Ray Gold Deposits (CRGD) consist of three main mineralised zones: the 04, 41 and 51 zones comprised of quartz veins and vein arrays hosted within graphitic schists along a 1.8 km segment of the Cape Fay Fault (CRF), a regional fault that transects the island and is host to numerous gold occurrences, including Marathon Gold’s Valentine Lake gold project with current resources of 13,963,000T at 2.05 g/t Au indicated and 1,768,000T at 1.96 g/t Au inferred. The WGH deposit occurs predominantly in a set of flat-lying sulphide-rich quartz veins hosted in the relatively un-deformed Windowglass Hill Granite located proximal to the CRFZ and approximately 3km southwest of the 04-41-51 deposits.


Resources for the Cape Ray deposits consist of 950,000T @ 6.22 g/t Au, 13.1 g/t Ag (Indicated) and 960,000T @ 5.85 g/t Au, 11.97 g/t Ag (inferred) for the combined 04-41-51 zones combined (2.5 g/t Au cut-off, combined open pit and underground mining methods) and 880,000T @ 2.09 g/t Au, 10.14 g/t Ag (inferred) based on a 1.0 g/t cut-off and a open pit mining method) for the WGH deposit.

 Cape Ray Gold Resource

NI 43-101 Resources 

In January 2016, Nordmin completed a positive Preliminary Economic Assessment (PEA) for the deposits with highlights including the following:

  • Pre-production Capital is $47.3 million. Pre-production is for a 2 year period.
  • Sustaining Capital of $33.7 million for the Life of Mine (“LOM”).
  • Pre-tax NPV(7%) of $48.4 million and internal rate of return of 29%.
  • Post-tax NPV(7%) of $32.6 million and internal rate of return of 24%.
  • Pre-tax Net Revenue of $88.4 million over 6 year LOM.
  • Post-tax Net Revenue of $63.4 million over 6 year LOM.
  • Positive Cash-flow is realized in year 3.
  • 1,700,000 tonnes of mill feed averaging a combined 4.6 g/t gold and 4.8 g/t silver.
  • Mill operates at average tonnage of 851 tonnes per day.
  • Total production of 250,000 ounces of gold and 260,000 ounces of silver.
  • Gold recovery of 97% and Silver recovery 45%.

All deposits are open on strike and at depth.  The complete PEA can be viewed here.

In October, 2016, Nordmin completed 5,000 meters of diamond drilling on the 04-41-51 deposits as well as initiated environmental baseline studies and began the permitting process for developing the deposits. In 2017, Nordmin plans on drilling an additional 5,000 meters and updating the resources and PEA as the project advances towards production.




image image image image

Cape Ray Fault

Regional Exploration

Cape Ray - Highlights

& Regional Geology

Cape Ray - Highlights &

Detailed Airborne Magnetics

Cape Ray Deposits


3D Deposit Models

image image image

Last3:33pm 2/17/2017

Enter your email address below to receive
updates from Benton Resources Inc.

facebook twitter

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

Corporate  .  News Releases  .  Projects  .  Investor Info  .  Contact  .  Home