Benton Drilling Expands Great Burnt Copper Deposit, Arranges $3 Million Private Placement
Benton Drilling Expands Great Burnt Copper
Deposit, Arranges $3 Million Private
Placement
Thunder Bay, Ontario--(Newsfile Corp. - April 3, 2024) - Benton Resources Inc. (TSXV: BEX) ("Benton"
or the "Company") is pleased to announce that it has received further high-grade copper results which
expand the Great Burnt Copper Deposit a further 50 m down plunge. In addition to the expansion of the
deposit, the Company's ongoing down-hole geophysical program has identified that the massive
sulphides associated with the deposit are highly conductive, and additional priority targets have been
selected for drilling in the next phase. The survey's success will assist in identifying and prioritizing other
targets on a regional scale as the summer exploration season ramps up.
Holes GB-24-23 through to GB-24-28 and GB-24-31 were completed in the upper part of the deposit
and have been successful in confirming historic deposit limits and grade/width characteristics including
2.02% Cu over 7.00 m in GB-24-23
. Hole GB-24-23 also confirms that the deposit extends to surface,
and this will define where trenching and detailed mapping will occur during the summer field program.
Holes GB-24-32, GB-24-30 and GB-24-33 were infill drill holes that have confirmed significant Cu
mineralization in the Main Zone.
GB-24-33 returned 2.26% Cu and 0.37% Zn over 20.92 m and GB-
24-32 returned 3.10% Cu and 0.28% Zn over 11.29 m
and will upgrade the resource in this area.
GB-24-29 intersected a 1.80 m massive sulphide interval assaying 1.00% Cu approximately 30 m below
and down dip of the 25.42 m intercept grading 5.51% Cu from GB-23-12. It's important to note that the
presence of massive sulphides shows that the system is open down dip.
GB-24-34 intersected 1.75% Cu and 0.81% Zn over 5.00 m, including 4.02% Cu and 1.68% Zn
over 1.00 m
. With the increase in Zn, Benton could potentially be progressing to the Cu-Zn portion of this
VMS system. This hole successfully expands the deposit 50 m down plunge and remains open for
expansion.
Table 1
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Figure 1
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Additionally, the Company announces that, subject to regulatory approval, it is conducting a non-
brokered private placement with participation from strategic investors for proceeds of up to $3 million on
a best effort basis. The private placement is priced at $0.15 per unit with each unit consisting of one
common share and one-half of one common share purchase warrant, each full warrant entitling the holder
thereof to acquire an additional common share of the Company for $0.22 for a period of 24 months from
the date of issuance.
President and CEO Stephen Stares stated
, "We continue to be extremely excited about the Great
Burnt Deposit and the potential of the project as a whole. We have secured significant interest in the
financing and look forward to closing the placement as soon as possible. Our team is confident that we'll
have continued success in expanding the Great Burnt Deposit down plunge and along strike along with
additional discoveries as we progress with the upcoming programs along the favourable 25 km volcanic-
sedimentary belt at Great Burnt."
QA/QC Protocols
Core and rock samples, including standards, blanks and duplicates, are submitted to Eastern Analytical
Ltd., Springdale, Newfoundland for preparation and analysis. All samples were acquired by saw-cut
(channels/drill core) with one-half submitted for assay and one-half retained for reference, or hand (rocks)
and delivered, by Benton personnel, in sealed bags, to the Springdale lab of Eastern Analytical, which is
an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples are analysed
using Eastern's Au (Fire assay) @ 30g + ICP-34 method that delivers a 35-element package utilizing a
200mg subsample totally dissolved in four acids and analysed by ICP-OES analytical technique.
Overlimits are analysed with Eastern's atomic absorption method, using a 0.200g to 2.00g of sample,
digested with three acids. All reported assays are uncut. Eastern Analytical Ltd. achieved ISO 17025
accreditation in February 2014 (for more details on the scope of accreditation visit the
CALA website
).
QP
Stephen House (P.Geo.), Vice President of Exploration 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.
About Benton Resources Inc.
Benton Resources is a well-financed mineral exploration company listed on the TSX Venture Exchange
under the symbol BEX. Benton has a diversified, highly prospective property portfolio and holds large
equity positions in other mining companies that are advancing high-quality assets. Whenever possible,
BEX retains net smelter return (NSR) royalties with potential long-term cash flow.
Benton is focused on advancing its high-grade Copper-Gold Great Burnt Project in central
Newfoundland, which has a Mineral Resource estimate of 667,000 tonnes @ 3.21% Cu Indicated and
482,000 @ 2.35% Cu Inferred ("Updated Mineral Resource Estimate and Preliminary Economic
Assessment of the Great Burnt Copper-Gold Property, Central Newfoundland" by P&E Mining
Consultants Inc., April 7, 2022). The Project has an excellent geological setting covering 25km of strike
and boasts six known Cu-Au-Ag zones over 15km that are all open for expansion. Further potential for
discovery is excellent given the extensive number of untested geophysical targets and Cu-Au soil
anomalies. The Phase 1 drill program consisting of over 5,650m, completed in November, returned
impressive results including 25.42m of 5.51% Cu, including 9.78 m of 8.31% Cu, and 1.00 m of 12.70%
Cu from hole GB-23-12.
On behalf of the Board of Directors of Benton Resources Inc.,
"Stephen Stares"
Stephen Stares, President
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:
807-474-9020
Email:
Iryna Zheliasko, Investor Relations
Phone
:
647-249-9298 ext. 322
:
Website:
www.bentonresources.ca
Twitter:
@BentonResources
Facebook:
@BentonResourcesBEX
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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
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uncertainties related to the Company's prospects, properties and business detailed elsewhere in the
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