Business
Benton Mobilizes Drill to Bolton Bay and Amends Bedivere Option
Thunder Bay, Ontario--(Newsfile Corp. - November 13, 2018) - Benton Resources Inc. (TSXV: BEX)...
About this update from Benton Resources, Inc.
[{"type":"text","content":"Benton Mobilizes Drill to Bolton Bay and Amends Bedivere OptionThunder Bay, Ontario--(Newsfile Corp. - November 13, 2018) - Benton Resources Inc. (TSXV: BEX) (\"Benton\" or \"the Company\") is pleased to announce that it has commenced diamond drilling on its Bolton Bay gold project located in northwestern Ontario. The program will consist of approximately 400m and is designed to test several areas on the project including two holes that will target the projected down plunge mineralization envelope of the historical 'West Zone\" where recent Benton sampling returned grades of up to 145 grams per ton (g/t) gold (Au) in selective surface grab samples as well as 0.90g/t Au over 17m in channel sampling. Recent stripping of overburden at the West Zone uncovered an outcrop which could be the surface expression of a vertical, quartz breccia pipe hosting gold. A third hole will test a newly discovered deformation/shear zone containing green mica (fuchsite or roscoelite), quartz and quartz carbonate within a silicified volcanic which graded 0.42g/t Au over 7.5m including 1.2g/t Au over 1m. A fourth hole will test a copper-nickel-platinum-palladium target where anomalous mineralization was discovered at surface. Recent logging in the area is providing excellent access to the mineralized zones, which historically were only accessible by water or air. Benton would also like to announce that it has renegotiated the terms of the Bedivere Lake option agreement (see Benton PR dated November 1, 2016 for original terms), subject to TSX Venture Exchange approval, and has made the amended third anniversary payment to the vendors in the amount of $35,000 and will issue 300,000 common shares of the Company upon regulatory approval. The amended option payment schedule is as follows: $35,000 and 300,000 common shares on or before October 31, 2018 (Paid)$50,000 and 300,000 common shares on or before October 31, 2019$65,000 and 400,000 common shares on or before October 31, 2020$80,000 and 500,000 common shares on or before October 31, 2021$90,000 and 600,000 common shares on or before October 31, 2022.Highlights from the 2017-2018 diamond drilling completed by the company include 1.5g/t Au over 14.0m including 6.43gpt over 2.0m in BED-17-001 and 37.3gpt Au over 1.0m in BED-17-003, 3.09g/t Au over 4.0m including 11.2g/t Au over 1.0m and a second parallel ...