The Elizabeth Anne gold project is located in San Bernardino County, California approximately 35km west of the Molycorp's Mountain Pass, Rare Earth mine. Management believes this project lies within the southern extension of the Walker Lane Gold Belt, which hosts several multi-million ounce gold deposits throughout Nevada and California. Sampling by the vendor returned values up to 73 grams per tonne (“gpt”) gold, while recent sampling completed by Benton returned surface grab samples grading up to 3.6gpt gold along with highly anomalous values of silver, bismuth, mercury and arsenic--standard trace elements used by most major gold companies to locate large epithermal gold systems within the Walker Lane Gold Belt. Since 2009, only two shallow holes have been drilled on this project, one of these holes returning several anomalous values up to 0.45gpt gold over 8.4 metres within intense illite alteration that continued to the bottom of that drill hole.
Benton completed a first round of drilling in the spring of 2012 that included 5 holes totalling 1450m. Highlights of the drilling include 10.92 gpt gold over 15.24 m in hole EA-12C-05 in the mega-breccia zone, and in the C1 zone hole EA-12C-03 intersected 5.56gpt over 6.1m and 5.54gpt over 4.58m in EA-12C-01. The C1 Zone is located approximately 375m west across strike from the mega-breccia zone. Several other zones were also encountered in the drilling indicating the possibility of a large low grade shell around the higher grade zones. This first phase drill program was designed to test areas of highly anomalous gold and silver values in selected surface samples that returned values of up to 73gpt gold and 416gpt silver.
The second phase drill program at Elizabeth Anne consisted of 2873 metres of drilling in 8 holes to follow up on previously announced intercepts. The second phase was successful in identifying further gold (Au) and silver (Ag) mineralization at depth and along strike in both the mega-breccia and C1 mineralized trends. Highlights from the Phase 2 drill program include 0.6gpt Au and 10.6 gpt Ag over 83.8m in drill hole EA12C-12 including a higher grade interval of 11.9gpt Au and 381gpt Ag over 1.5m. This mineralized intersection in drill hole EA12C-12 is situated approximately 80m below EA12-05 within the mega-breccia zone. The results of the second phase of drilling have provided the Company with a better understanding of the orientation of the mineralized trends for further targeting.
A third phase of drilling, totalling 2876m, was completed during the spring of 2013. All holes encountered gold mineralization of varying degree and permitting for additional drilling is currently underway.
Benton has compiled all available geochemical results to assist with targeting by creating pathfinder haloes associated with the mineralization typical of epithermal gold systems. Drill holes EA12C-06 and 7 were drilled 110m north of EA12C-05 and EA12C-13 was collared 215m NNE of EA12-05 and are all believed to have been drilled above the plunge of the mineralized gold zone. Holes EA12-10 and 11 were drilled 90m north of EA12-01,02 and 03 on the C zones and have now expanded the mineralized gold horizon another 75m. In addition, recent prospecting has returned further high grade gold values between 0.27 to 13.35gpt Au approximately 100m north from the furthest north drill hole EA12-11.
Select results from all surface samples are diplayed in the map below and details can be found in the PR dated January 10, 2013.
Phase 1 Drilling Highlights (see N.R. dated June 6, 2012):
Phase 2 Drilling Highlights:
Phase III Drilling Highlights:
Benton can earn a 100% interest by paying $1.2 million in cash over 13 years, which includes an upfront payment of $40,000 on signing for the first year, and subject to a 3% net smelter royalty (“NSR”) (which Benton will have the right to buy back half of for $1.5 million, and hold a right of first refusal to match any offer on the remaining 1.5% NSR).
The following points characterize the Elizabeth Anne prospect:
- The prospect has multi-million ounce potential very similar to other epithermal deposits in extensional terrain such as Bullfrog (3M oz Au) 125 miles northwest, Castle Mtns (2.5M oz) 75 miles southeast, Mesquite (7M oz Au) 175 miles southeast and Ken Snyder/Midas (6.5 M oz) NE Nevada, Fruta Del Norte(>10 Moz Au) in Ecuador.
- At this stage of exploration the Elizabeth Anne shows results very similar to the early stage results obtained at the Bullfrog, Castle Mtns and Ken Snyder.
- HSCEX-001 drilled in 2009 showed 0.24ppm Au, 0.7ppm Ag from 306-338’and 0.448 ppm Au, 14 ppm Ag from 440-468’. Alteration increasing with depth. Hole lost by drillers at 468’. No other drilling. 3” at 444’ showed 11.0 ppm Au. Geologic projection of main 400’ thick target starting at 600’ depth.
- Excellent logistics with existing roads providing access to most drill sites.
- Six drill sites permitted by the BLM in 2008 can be occupied and drilled from immediately.
- Large contiguous land package with simple one owner dealings.
- Geologic mapping and sampling have defined drill targets ready for drill testing.
- Located on trend with other major low sulfidation gold producers in the Walker Lane and Mojave Provinces. (See Fig. 1)
- Extensive areas of favorable high level illite alteration indicative of a low sulfidation epithermal gold system along numerous structures up to 400 feet wide and 4000 feet long at the surface. A one square mile area of alteration potentially overlies a thick zone of low angle thrust or detachment faulting at shallow depth.
- Anomalous surface gold values up to 73 ppm (2.1 opt) Au over a 2 square mile are associated with the above alteration.
- 2947 tons of 33.3 ppm (0.97opt) Au and 66.2 ppm (1.93opt) Ag produced from a colloform banded quartz vein with bladed calcite replacement texture 2 miles from the property at the Telegraph Mine. Telegraph mineralization shows a geochem signature and wall rock alteration very similar to the Elizabeth Anne.
- The targets are Telegraph style mineralization with high grade in zones hundreds of feet thick located beneath the high level alteration exposed over an area 3000 feet by 5000 feet and other mineralized zones at the Elizabeth Anne prospect.
DRILLING THE MEGA-BRECCIA ZONE
Surface Sampling - Gold
Surface Sampling - Silver