Trading Symbol: RRO - TSX-V
Shares Outstanding: 112,127,490
HALIFAX, Oct. 28 /CNW/ - Royal Roads Corp. (RRO-TSX-V) ("Royal Roads") and Benton Resources Corp. (BTC-TSX-V) ("Benton"), ("the Companies") are pleased to announce the discovery of a new zone of magmatic nickel sulphide mineralization within gabbro of the Puddle Pond Complex on their Long Range joint venture in central Newfoundland. The discovery was made by bedrock trenching of a VTEM conductive anomaly within gabbro and returned assays of up to 2.70% nickel, 0.58% copper and 0.24% cobalt in grab samples, as well as sawed channel samples averaging 0.99% nickel, 0.22% copper and 0.05% cobalt over 3.0 metres, including 2.18% nickel, 0.19% copper and 0.11% cobalt over 1.0 metre. Highlights also include bedrock grab samples assaying up to 5.30% copper, 1.13% nickel, 0.04% cobalt and 0.06 g/t gold. Platinum, palladium and sulphur analyses are pending.
Samples were collected from a trenched bedrock exposure of mineralized gabbro measuring approximately 25 metres by 5 metres and hosting 5% to 15% disseminated sulphides dominated by pyrrhotite with lesser chalcopyrite and pentlandite. The higher nickel assays are derived from samples that include material from a 10 to 15 cm thick, sulphide-rich band hosting approximately 30 - 40% pyrrhotite and pentlandite with lesser chalcopyrite within the mineralized gabbro. The band has been exposed for a minimum strike length of 5 metres and likely continues under overburden to the east and west. Furthermore, the mineralized band has the same trend as and is potentially correlative with a weak VTEM conductive anomaly. This anomaly is located approximately 200 metres northeast and along trend of mineralized float discovered by prospecting this past summer assaying up to 0.75% nickel and 0.64% copper (news release dated September 14, 2009). The VTEM anomaly is estimated to have a minimum strike length of 200 metres and may remain open to the north where it is likely occluded by conductivity associated with overhead power lines.
A first phase diamond drilling program designed to test the extent of this newly discovered nickel-copper mineralization in the trench and the associated VTEM conductor is currently underway. The drill program is anticipated to be concluded by the end of October, with results to be released upon receipt of assays.
Elsewhere on the Long Range property, a drill program designed to test a recently discovered copper-bearing sulphide zone located outside the gabbro (news release dated September 29, 2009) was completed on October 23. Results are expected shortly and will be released upon receipt of assays.
The Long Range project is a 50/50 joint venture between Royal Roads and Benton with Royal Roads as the operator. The project was acquired to explore for magmatic nickel-copper sulphide deposits within a previously unexplored area, recently recognized to be prospective for magmatic sulphides. The project is well situated with ready access to paved roads, power and port facilities. The property is subject to net smelter royalties of up to 2%, of which 1% can be purchased for $1 million. Portions of the property are also subject to underlying option agreements requiring cash payments and share issuances for the joint venture to earn a 100% interest.
Paul Moore, M.Sc., P.Geo., (NL), Royal Road's Vice President of Exploration, is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy. Mr. Steve House, P. Geo., (NL), Benton's Newfoundland Projects Manager, supervised the trenching program including the collection of reported assays. Analyses referred to herein are from trenched bedrock samples collected as grab samples and sawed channel samples. All assays were completed by Eastern Analytical Limited of Springdale, Newfoundland by the ICP (Inductively Coupled Plasma Optical Emission Spectroscopy) method (ICP-11) and Ore Grade Assay for Ni, Cu and Co by the atomic absorption (AA) method. Gold assays were completed by standard 1/2 assay ton fire assay using the AA method. Appropriate QA/QC protocols were applied, including duplicate analyses and monitoring of assay results through the insertion of control standards.
About Royal Roads
Royal Roads is a Canadian based junior exploration company primarily focused on exploring and developing mineral properties in Newfoundland Canada, including its flagship project located within the historic Buchans mining camp. Acadian Mining Corporation (ADA-TSX) owns 29.18% of Royal Roads. For additional information on Royal Roads' properties and activities, please visit www.royalroadscorp.ca.
About Benton Resources
Benton is a Canadian based junior with multiple joint ventures and a diversified property portfolio in Gold, Nickel, Copper, and Platinum group elements which can be view on the company's web site post below. The company currently has approximately $15.0 million in cash, owns a 32.2% interest in Coro Mining Corp (TSX.COP), holds an approximate 5% interest in Marathon PGM Corp (TSX.MAR) and retains a 2% Net Smelter Royalty on the northern portion of the Marathon PGM deposit.
Forward Looking Statements
Certain information contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Royal Roads and Benton (the "Companies") believe that the expectations reflected in such forward-looking statements are reasonable, they can give no assurance that such expectations will prove to have been correct. The Companies caution that actual performance will be affected by a number of factors, many of which are beyond their control, and that future events and results may vary substantially from what the Companies currently foresee. The Companies' forward-looking statements are expressly qualified in their entirety by this cautionary statement.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
SOURCE ROYAL ROADS CORP.
For further information: For further information: Royal Roads Corp.: Will Felderhof, President & CEO; David Felderhof, Vice-President, (902) 444-3637, Halifax, Nova Scotia, www.royalroadscorp.ca; Benton Resources Corp.: Stephen Stares, President & CEO, (807) 475-7474, Thunder Bay, Ontario, www.bentonresources.ca