Benton Continues to Delineate Copper Mineralization at Far Lake Provides Update on Equity Holdings and Exploration Plans
Benton Continues to Delineate Copper
Mineralization at Far Lake
Provides Update on Equity Holdings and Exploration Plans
Thunder Bay, Ontario--(Newsfile Corp. - July 23, 2020) -
Benton Resources Inc. (TSXV: BEX) ('Benton'
or 'the Company') is pleased to announce it has completed and received data from its recently flown
Heliborne High-Resolution Magnetic and Time-Domain Electromagnetic Survey at the Far Lake project
(the "Project") located 80km west of Thunder Bay, Ontario. A preliminary examination of the data has
identified several high-priority targets associated with known Cu sulphide mineralization as well as other
targets outside the main zones currently being explored within the Project. Survey data on the southern
portion of the Project exhibits multiple sub-parallel conductive zones associated with gabbro, ultramafic
and volcanic rocks and will be the subject of further exploration.
Results from a 5km
2
soil and rock geochemistry sampling program completed over the central Cu
targets have also been received and analyzed interpreted by the Company. The soil survey in particular
has provided a number of Cu anomalies adjacent or along strike of the Far Lake #1 and #2 structures,
which have been shown to contain abundant chalcopyrite, intense silicification and often brecciation in
previous work completed. In addition to Cu, there are areas of anomalous values of Mo, Ni, Pb, U and Zn
in soil which will be used to target field work and help to define a geological model for the Project. The
Company has initiated infill soil sampling to delineate the anomalies in greater detail and plans to
expose outcrop in these new areas by mechanical stripping in the coming weeks. To date, highlights on
the Far Lake #1 structure include a 0.7m channel sample across massive sulphide that assayed 22.0%
Cu, 30.2 g/t Ag, and 0.25 g/t Au and another channel containing 3.54% Cu over 3.0m, including 4.96%
Cu over 1.0m.
Far Lake #2 is a wider structure, exhibits silicification and brecciation and contains
chalcopyrite.
It has seen no stripping or channel sampling and these activities will also be completed this
field season.
Certain mineralization (chalcopyrite ± bornite, covellite, magnetite) and alteration (silicification,
carbonate, sericite) identified to date at Far Lake displays characteristics suggestive of multiple
mineralizing events and resemble certain aspects of porphyry and IOCG style alteration and
mineralization. Other evidence for these models at Far Lake includes elevated rare earth and uranium
geochemistry over 500m within the centre of the main magnetic high (granitic intrusive) and a moderate
Zn soil geochemical anomaly surrounding the periphery of the soil survey. Benton is encouraged to have
a number of additional targets resulting from systematic geochemical surveying and looks forward to
continuing its exploration efforts and evaluating the potential for the discovery of a large copper system.
Maps displaying the results can be viewed on the Company's website.
Benton would also like to announce that it has selected locations for 6 short diamond drill holes at the
Iron Duke gold project located 20km east of the past producing Mattabi/Sturgeon Lake base metal
deposits and 30km south of the past producing St. Anthony gold mine in Northwestern Ontario.
These
will be drilled in conjunction with Benton's next drill contract.
Equity Holdings
Benton would also like to update its shareholders on the progress of Clean Air Metals Inc. ("Clean Air"),
in which Benton holds approximately 24.6 million shares. Clean Air has recently added a second drill to
the Thunder Bay North and Escape Lake project and has released excellent drill results from its ongoing
drill campaign (see Clean Air PR dated July 15, 2020).
Benton anticipates ongoing success for Clean
Air and looks forward to future drill results.
Benton also holds 4.2 million shares of Quadro Resources Ltd, which is advancing various projects in
Newfoundland and Ontario. Additionally, Benton holds 2 million shares of Maxtech Ventures Inc..
Maxtech has an Option and Joint Venture agreement on Benton's Panama Lake gold project in the Red
Lake mining region. Further, Benton holds 1 million shares of Sokoman Minerals Corp. which has
recently released excellent drill results from its Moosehead Project in Newfoundland.
Benton has two NW
Ontario projects optioned to Rio Tinto Exploration Canada (the Bark Lake and Baril Lake Copper-Nickel
PGE projects).
QP
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"
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 NI43-101 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:
Stephen Stares, President & CEO
Phone:
807-475-7474
Email:
Cathy Hume, CHF Capital Markets
Phone
: 416-868-1079 x 231
:
Website:
www.bentonresources.ca
Twitter:
@BentonResources
Facebook:
@BentonResourcesBEX
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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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