THUNDER BAY, ON, Feb. 13, 2013 /CNW/ - Benton Resources Inc. (TSXV: BEX) ("Benton" or "the Company") is pleased to announce that the ongoing exploration program has outlined
extensive and significant gold (Au) and silver (Ag) mineralization in
multiple areas at the Elizabeth Anne gold-silver project. Most
encouraging is a new mineralized area west of the Central Zone termed
the Rascal Showing where previous selective grab sampling returned up
to 1955gpt Ag (see Benton NR January 10, 2013). Follow-up surface chip
sampling has outlined widespread continuous mineralization that graded 0.50gpt Au and 13.2gpt Ag over 79.25m within a broader halo of 0.27gpt Au and 5.64gpt Ag over 247m. This longer interval contains a small 16m gap that was given the
value of zero for the purposes of calculating these weighted averages
and infill sampling has been completed with assay results pending.
Another sub-parallel continuous chip sampling interval splayed off the
first graded 0.29gpt Au and 30.47g/t Ag over 91.4m.
Approximately 1300m to the southeast of the Rascal Zone, several
continuous chip sampling lines were completed over the North
Mega-Breccia area to follow up a recent selective grab sample that
graded 43gpt Au. The best continuous chip sample in this area returned
a weighted average of 0.41gpt Au and 1.36gpt Ag over 33.5m. All lines of chip sampling at the Rascal and North Mega-Breccia zones
were oriented in an east west direction in an attempt to cut across
north and north east oriented mineralization that remains open in all
directions. The chip sampling was conducted along the top of ridges
where exposure is best and consisted of the collection of 3.048m (10
feet) long chip samples that ranged from 7-10kg per sample. All
samples were sent to ALS Global in Reno Nevada and were analyzed for
gold using fire assay and atomic absorption plus gravimetric finish for
higher grade samples. Silver analysis was part of a multi-element,
Aqua Regia package plus ICP for ore-grade samples.
Given the effectiveness of the sampling programs the Company has
completed to date, new sampling programs are currently being planned
and are scheduled to start before the end of February. A map showing
all samples taken to date will be placed on the Company's website. The
results to date appear to illustrate that a large gold-silver
mineralizing system is unfolding on the Elizabeth Anne project.
Stephen Stares, Benton's President and CEO states "The alteration and
silica textures found on the surface at Elizabeth Anne all suggest that
the mineralization is associated with low temperature fluids and that
better gold and silver precipitation should be associated with higher
temperature boiling fluids below this. A detailed aeromagnetic survey
at 50m centres should be completed within the next week or two and
although we still have more ground work to complete we hope to start
the next phase of diamond drilling by early April."
The Elizabeth Anne gold property is located approximately 35km west of
the Mountain Pass rare earth mine in San Bernardino County, California
and the Company believes that the Elizabeth Anne project lies within
the southern part of the Walker Lane Gold Belt which hosts several
multi-million ounce gold deposits. The Company can earn a 100%
interest in the Property by paying $1.2 million over 13 years subject
to a 3% Net Smelter Royalty (NSR) of which Benton has the right to
purchase 50% of the NSR (1.5%) for $1.5 million and holds a Right of
First Refusal to match any offer on the other 1.5% NSR.
About Benton Resources Inc. (BEX: TSX.V)
Benton Resources Inc is a newly listed Canadian based junior with
multiple joint ventures and a diversified property portfolio in
Gold-Silver, Nickel, Copper, and Platinum group elements. The Company
is well funded with approximately $8.6 million in cash and $4.3 million
in marketable securities.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Inc., is
the qualified person responsible for this release.
On behalf of the Board of Directors of Benton Resources Inc.,
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements"
within the meaning of applicable securities legislation.
Forward-looking statements relate to information that is based on
assumptions of management, forecasts of future results, and estimates
of amounts not yet determinable. Any statements that express
predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance are not statements of
historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and
uncertainties which could cause actual events or results to differ from
those reflected in the forward-looking statements, including, without
limitation: risks related to failure to obtain adequate financing on a
timely basis and on acceptable terms; risks related to the outcome of
legal proceedings; political and regulatory risks associated with
mining and exploration; risks related to the maintenance of stock
exchange listings; risks related to environmental regulation and
liability; the potential for delays in exploration or development
activities or the completion of feasibility studies; the uncertainty of
profitability; risks and uncertainties relating to the interpretation
of drill results, the geology, grade and continuity of mineral
deposits; risks related to the inherent uncertainty of production and
cost estimates and the potential for unexpected costs and expenses;
results of prefeasibility and feasibility studies, and the possibility
that future exploration, development or mining results will not be
consistent with the Company's expectations; risks related to gold price
and other commodity price fluctuations; and other risks and
uncertainties related to the Company's prospects, properties and
business detailed elsewhere in the Company's disclosure record. Should
one or more of these risks and uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those described in forward-looking statements.
Investors are cautioned against attributing undue certainty to
forward-looking statements. These forward looking statements are made
as of the date hereof and the Company does not assume any obligation to
update or revise them to reflect new events or circumstances. Actual
events or results could differ materially from the Company's
expectations or projections.
SOURCE: Benton Resources Inc.
For further information:
contact Stephen Stares @:
3250 Highway 130,
Rosslyn, ON P7K 0B1
Clair Calvert: @ 204-219-4546