THUNDER BAY, ON, Oct. 5 /CNW/ - Benton Resources Corporation ("Benton" or
the "Company") is pleased to report that initial grab sampling from the first
phase prospecting program on its Bark Lake Project has identified high grade
Nickel (Ni) and Copper (Cu), along with Platinum (Pt), Palladium (Pd) and Gold
(Au). The new samples, which were taken approximately 200 meters to the north
of the previously announced area of mineralization (BTC P.R Aug 20, 2007) has
returned individual assays grading up to 1.5% Nickel, 1.2% Copper, 2.6 gram
per tonne (gpt) Pt, 1.4gpt Pd and 0.7gpt Au. Twelve out of the 16 samples
taken from the area returned results higher in Platinum than Palladium. Also
of particular interest was the discovery of several semi-massive, net-textured
sulphide boulders, with one measuring around 1 cubic metre in size and
assaying 1.5% Ni. The boulders are angular in nature and believed to be
located very close to source. Given the many positive indications at this
early stage Benton management feels that the Bark Lake Project has good
potential to host a Ni-Cu-Pt-Pd deposit of economic significance.
Through additional recent staking, Benton has more than doubled its
initial land position at Bark Lake and has started an aggressive exploration
program to include line cutting (now complete), followed by geological
mapping, prospecting, ground geophysics including magnetics, Max-Min
electromagnetics, and an induced polarization survey to be followed by diamond
The Bark Lake property is host to numerous newly discovered Ni-Cu-Pt-Pd
mineralization hosted in ultramafic rock either in outcrop or among dozens of
mineralized boulders. The mineralized occurrences are situated along the
Quetico Fault, a major crustal-scale east west oriented structure. Several
other companies including Teck Cominco Ltd, have recently taken an interest by
staking and/or joint venturing mafic intrusive bodies along this same fault
zone (See Pro-am Exploration (PMX) news of August 20, 2007).
Recently Announced Financing:
Further to its news releases of September 26, 2007 and September 27, 2007
Benton advises that it will also pay Westwind Partners Inc. ("Westwind") a 7%
cash fee of the gross proceeds from the financing and that number of broker
warrants equal to 7% of the number of units and flow-through shares issued
under the financing. Each broker warrant will entitle Westwind to acquire one
common share of the Company at an exercise price of $1.25 per common share
expiring 18 months from the closing of the financing.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Corp., is
the qualified person responsible for this release.
On behalf of the Board of Directors of Benton Resources Corp.
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVEIWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking statements in this release are made pursuant to the safe
harbor provisions of the Private Securities.
For further information:
For further information: Stephen Stares, 611 Montreal Street, Thunder
Bay, Ontario, P7E 3P2, Phone (807) 475-7474, Fax (807) 475-7200,
www.bentonresources.ca; Investor relations: In Canada: First Canadian Capital,
Daniel Boase, Phone (416) 742-5600, Fax (416) 742-6410; In U.S.A: The Windward
Agency, Kelly Boatright, Phone (704) 588-8600