The Mealy Project covers 261 square-kilometres of the Mealy Lake mafic intrusion and is contiguous to Altius Minerals Corp.’s (“Altius”) 256 square-kilometre Natashquan property, both located approximately 140 kilometres southwest of Churchill Falls in Labrador. The Mealy Project covers the same mafic intrusive rock that hosts Altius’ recently announced Ni-Cu-Co-PGE discovery. Altius has entered into a joint venture agreement with Anglo American (“Anglo”) whereby Anglo has the option to earn a 66-per-cent interest in the project through expenditures of $20-million over a five-year period. Exploration highlights from Altius' Nastashquan discovery include “2.68g/t combined Pt, Pd and Au (grab) - 6.14% Cu and 388ppb Pt - 1.04g/t combined Pt, Pd, Au and 1.06% Cu over 1.30m (channel) - 1.04 g/t combined Pt, Pd, Au and 3.92% Cu over 1.00m (channel) - 2.49g/t combined Pt, Pd and Au and 1.07% Ni (grab) – several grab samples >7% Cu - soil samples up to 26,000ppm Cu”
The Mealy Lake mafic intrusion was identified from historic work completed by the Newfoundland and Labrador Geological Survey. The main intrusive is approximately 45 kilometres long and 25 kilometers wide and is Late Paleoproterozoic in age with local fresh crosscutting mafic to ultra-mafic rock. The disseminated to massive sulphide mineralization found to date displays cumulate textures indicative of primary magmatic type Cu-Ni-PGE deposition within the mafic to ultra-mafic intrusive.
Benton's previous partner, Platinum Group Metals, flew a detailed EM survey, followed up with propsecting and data compilation before terminating the agreement. Benton is reviewing the data and hopes to design an exploration program to be conducted by a future partner.