Benton Receives First Anniversary Option Payment from Rio Tinto for Baril Lake Project
Thunder Bay, Ontario--(Newsfile Corp. - January 21, 2020) - Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is pleased to announce that the Company has received its first anniversary option payment of $25,000 from Rio Tinto Exploration Canada ("RTEC") for Baril Lake project (see PR dated January 2, 2019). The Baril Lake project is situated approximately 4km west of Benton's Bark Lake project, also under option to RTEC (see PR dated October 25, 2016), and 100km west along the major crustal-scale east-west oriented Quetico fault of the Escape Lake and TBN projects.
While the Baril and Bark Lake projects are early stage in nature, the Company believes they have the potential to contain a magmatic conduit system that could host Copper-Nickel and Platinum Group metals. At Bark Lake, numerous mineralized boulders are host to a number of platinum (Pt), palladium (Pd), gold (Au), copper (Cu) and nickel (Ni) showings. The mineralized occurrences are situated along or proximal to the Quetico Fault. Grab samples have returned grades up to 4.35gpt Pd, 2.64gpt Pt, 0.74gpt Au, 1.2% Cu, 0.5% Ni by Hackl Prospecting. Samples collected by Benton personnel have confirmed significant precious and base metals returning individual assays grading up to 1.5% Nickel, 1.2% Copper, 2.6gpt Pt, 1.4gpt Pd and 0.7gpt Au. Drilling completed by RTEC in 2018 on the Bark Lake project encountered mineralization of 0.31% Cu and 0.72gpt Pt + Pd over 19.2m (see PR dated May 25, 2018). A map showing the location of the Baril and Bark Lake projects appears on the Benton website (www.bentonresources.ca).
To view an enhanced version of this graphic [Map showing the location of the Baril and Bark Lake projects], please visit:
Nathan Sims (P.Geo.), Senior Exploration Manager for Benton Resources Inc., the 'Qualified Person' under National Instrument 43-101, has approved the scientific and technical disclosure in this news release and prepared or supervised its preparation.
On behalf of the Board of Directors of Benton Resources Inc.,
Stephen Stares, President
About Benton Resources Inc.
Benton Resources is a well-funded Canadian-based project generator with a diversified property portfolio in Gold, Silver, Nickel, Copper, and Platinum group elements. Benton holds multiple high-grade projects available for option which can be viewed on the Company's website. Most projects have an up-to-date 43-101 Report available.
Parties interested in seeking more information about properties available for option can contact Mr. Stares at the number below.
For further information, please contact:
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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
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