Benton Resources has acquired a significant land package adjacent to the recent high-grade discovery by Magma Metals Ltd for which they were awarded the "Discovery of the Year Award," by the Northwestern Ontario Prospectors Association. Benton has completed staking a large land position to the west of Magma Metals', Thunder Bay North Project where recent drilling intersected mineralization up to 5.61 grams per tonne Platinum + Palladium over 61.7m. In addition, Benton's South Sibley Property shares the eastern border of Magma's ground. The Thunder Bay North property lies near the boundary between the Archaean granite-gneiss-greenstone terrain to the southwest and the Proterozoic Nipigon Plate to the northeast. In addition to Magma's Discovery, Kennecott Exploration Canada recently released results for a single drill hole along the same trend as Magma and Benton's Properties. The results from this drillhole included: 10.9m of 2.25g/t Pt+Pd.
Benton has recently entered into a joint venture with Quetico Resources Ltd, on the Onion Lake Project. Quetico can earn a 30% interest by spending $700,000 and paying Benton $95,000 cash within 24 months. After the initial earn-in, Quetico can earn an additional 30% interest by spending a further $1.6 million in exploration during the third and fourth year with the right to earn an additional 10% by spending a further $1.5 million in exploration within eighteen months of the fourth anniversary. The company plans to start working the property immediately to determine drill targets.
