Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
THUNDER BAY, ONTARIO–(Marketwire – Sept. 12, 2011) – Benton Resources Corp. (TSX VENTURE:BTC) (“Benton” or “the Company”) is pleased to announce that the Company has commenced diamond drilling on its 100% owned Abernethy gold project located 10km southwest of Kenora, Ontario. The property covers several historically defined electromagnetic responses associated with gold in soils geochemistry. One of these zones has a strike length of at least 640 metres and up to 210 metres wide and was tested with 3 historical drill holes returning grades up to 17.8 gpt gold over 1.52 metres and 6.30 gpt gold over 6.1 metres associated with heavy pyrrhotite and pyrite mineralization (see Benton’s PR dated April 18.2011).
The current drill program will consist of approximately 1000 metres in 6-7 holes to test the zone over a 200-250 meter strike length. The first hole (ABE-11-01) is located approximately 100 meters east of the historical drilling. Although currently still in progress, the top of this hole intersected 39m of massive sulphide (60% pyrrhotite, 5% pyrite) from 1.5m to 40.5m, just below the casing. The core is currently being split with the samples being submitted to the lab for assay as soon as possible. Pictures of the core can be seen on the company’s website. Recent forestry logging operations have opened entry to several areas within the claim group providing excellent access to the known mineralization.
In addition, diamond drilling continues on the Company’s 100%-owned RIM copper-nickel project located 100km south of the world class Voisey’s Bay nickel deposit. To date 3 drill holes have been completed of the 5-6 holes proposed. The program was designed to test a series of east-west trending conductive anomalies located within the mapped outline of the main Suture Zone. The Company believes that the conductors may represent magmatic sulphide deposited along an east-west trending structural conduit cutting through the Suture Zone similar to the emplacement of the Voisey’s Bay deposit. Results of the drilling will be released after they have been received and compiled by the Company. The Company would like to acknowledge and thank the government of Newfoundland for $150,000 JCEP grant to assist in this current program.
Benton is also pleased to announce the appointment of Nathan Sims, PGeo, as the Operations Manager for Benton’s Thunder Bay office. Nathan obtained an HBSc in geosciences from Lakehead University and is a certified GIS Applications Specialist. His role with Benton will be to generate new projects and provide expertise to advance Benton’s properties effectively and efficiently.
About Benton
Benton is a Canadian based junior with multiple joint ventures and a diversified property portfolio in Gold, Nickel, Copper, and Platinum group elements. The Company currently has approximately $11.8 million in cash, owns approximately 57.9 million shares in Coro Mining Corp. (TSX:COP), holds approximately 348,000 shares of Stillwater Mining Company (NYSE:SWC), holds 782,500 shares in Marathon Gold Corp. (TSX:MOZ), holds 1.6 million shares in Puget Ventures (TSX VENTURE:PVS), holds 6.5 million shares of Mineral Mountain Resources Ltd. (TSX VENTURE:MMV), and holds 815,000 shares of Bell Copper Corporation (TSX VENTURE:BCU) holds 1.2 million shares of Trillium North Minerals (TSX VENTURE:TNM), holds 1.5 million shares of Golden Dory Resources (TSX VENTURE:GDR) and 3.0 million shares Parkside Resources (currently private) Benton is currently in the process of spinning out the majority of its assets by a plan of arrangement into a new listed company in order to separate its 41.6% investment in Coro Mining from its cash, equities and exploration assets. Benton shareholders will receive a pro-rata interest in this new company on a one-for-one share basis and pursuant to regulatory approval.
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
