Trading Symbol: RRO - TSX-V
Shares Outstanding: 112,127,490
HALIFAX, Sept. 14 /CNW/ - Royal Roads Corp. (RRO-TSX-V) ("Royal Roads") and Benton Resources Corp. (BTC-TSX-V) ("Benton") are pleased to announce the discovery of a new copper sulphide zone on the Long Range Joint Venture property in central Newfoundland. Follow up prospecting on airborne conductive anomalies defined by VTEM airborne geophysical surveys completed by Geotech Ltd. in 2008, has resulted in the discovery of a copper mineralized zone consisting of disseminated to locally banded massive sulphides. Based on limited exposure, the mineralized zone is estimated to be between 20 and 30 metres thick and is located adjacent to a 400 metre long VTEM conductive anomaly previously described by Geotech Ltd., as "a relatively strong conductor consistent with massive sulphides". The mineralized zone is peripheral to the conductive anomaly's axis which lies beneath a lake. Although bedrock exposure along the lake shore is limited, 14 variably oxidized bedrock grab samples were taken, with six of the samples returning assays of greater than 0.20% copper, with a high value of 1.77% copper. A drilling program is currently being planned.
Other conductive anomalies examined by prospecting elsewhere on the property have returned encouraging results considered favourable for the discovery of nickel-copper magmatic sulphides as well as polymetallic volcanogenic massive sulphides. Among these are anomalies, where grab samples collected from float believed to be locally derived, have returned assays of up to 0.75% nickel and 0.64% copper. Additional fall programs are currently being planned for these areas. The Joint Venture has acquired by staking, an additional 13.5 km2 in response to these positive results.
The Long Range project is a 50/50 joint venture between Royal Roads and Benton with Royal Roads as the operator. 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. The project was acquired to explore for magmatic nickel-copper sulphide deposits within a previously unexplored area recently recognized to be prospective for magmatic sulphide deposits. The project is well situated with ready access to nearby roads, power and port facilities.
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. Analyses referred to herein are from rock and soil samples collected by prospectors contracted by Royal Roads. 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 and Cu by the atomic absorption (AA) method.
About Royal Roads
Royal Roads is a resource company based in Halifax, Nova Scotia, Canada and is primarily focused on exploring and developing mineral properties in the famous historic Buchans mining camp in central Newfoundland, Canada. 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 currently has approximately $15.0 million in cash, owns a 34.3% 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. For additional information on Benton's properties and activities, please visit www.bentonresources.ca.
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