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

Onion Lake Area

Benton Resources has acquired a significant land package adjacent to the recent high-grade discovery by Magma Metals Ltd for which Magma was 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 a joint venture with Glory Resources Ltd, on the Onion Lake Project.  Glory can earn a 30% interest by spending $700,000 and paying Benton $95,000 cash within 24 months.   After the initial earn-in, Glory 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 has started initial prospecting and airborne geosphysics and will continue to explore the project for potential drill targets.

image

 

 

BEX.V
Last0.07
Change0.00
%Change0.00%
Volume10200
Last3:11pm 4/17/2014

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

      

3250 Hwy 130
Rosslyn, ON
P7K0B1
(P) 807.475.7474
(F) 807.475.7200

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