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Providence - NWT

In September 2015, Benton  acquired 100% ownership of the Providence Lake Nickel (“Ni”) –Copper (“Cu”) –Cobalt (“Co”) -Platinum Group Metals (“PGM”) property from Platinum Group Metals Ltd. (“Platinum Group”).


The Providence Project is comprised of 11 mining leases and is located in the Northwest Territories (“NWT”) within 70km from the Diavik Diamond Mine and thus provides a potential access route using the existing ice road. The project covers approximately 20km of the Providence Lake Volcanic Belt, a suite of ultramafic to mafic rocks with the potential to host komatiitic Ni-Cu-Co-PGM deposits of economic importance. The property comes with equipment  and an established camp, plus a well assembled data base of drilling, geology, geophysics, geochemistry and modeling which has totaled more than $5.5 million in historical expenditures. Diamond drilling to date consists of approximately 6000m in 31 drill holes and has produced exciting results, of which some of the intersections of the massive sulphide mineralization are listed below:


Core Length (m)

Ni (%)

Cu (%)

Co (%)

Pt (gpt)

Pd (gpt)

Rh (gpt)

5.1

1.73

1.75

0.17

0.25

1.23

0.79

2.3

1.67

0.75

0.17

8.79

1.23

0.28

5.7

1.13

0.85

0.11

3.7

1.1

0.26

4.25

1.62

1.41

0.15

0.13

1.9

3.65

1.79

1.41

0.15

0.12

2.16


The mineralized horizon consists of massive to disseminated sulphide and has been traced by drilling for over 450m in strike length and 300m deep and remains open for further drill testing.


Benton has acquired the project by making an approximate $28,000 lease payment to the NWT government and granting Platinum Group a 0.75% NSR along with a 0.5% NSR to Arctic Star Exploration Corp. Benton will actively seek a partner to help advance this exciting project.


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Location

Section

Airborne Mag



BEX.V
Last0.115
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Volume27833
Last2:54pm 3/28/2017

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