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Benton Options High Grade VMS-Gold Project, Central Newfoundland
Thunder Bay, Ontario--(Newsfile Corp. - November 29, 2021) - Benton Resources Inc.  (TS...
About this update from Benton Resources, Inc.
[{"type":"text","content":"Benton Options High Grade VMS-Gold Project, Central NewfoundlandThunder Bay, Ontario--(Newsfile Corp. - November 29, 2021) - Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is pleased to announce that it has, subject to approval by the TSX Venture Exchange (the \"Exchange\"), optioned the KM 67 Volcanic Massive Sulphide (VMS) base metal and gold project (the \"Project\") located in central Newfoundland from Kevin Keats, Alan Keats, and David MacDonald (the \"Optionors\"). The Optionors, who have advanced the Project, are a team of experienced prospectors and a geologist that possesses a track record of success in Newfoundland and eastern Canada.The Company acquired the Project due to compelling data compiled by the Optionors that demonstrates prospective potential of VMS and gold presence on the Project. Historical work on the Project has identified large VMS boulders grading up to 37.8% lead-zinc as well as others that assayed 13.56% copper-lead-zinc (Cu-Pb-Zn) and 8.76% Cu-Pb-Zn. In addition, quartz boulders grading up to 7.1gpt gold and historical soil sampling showing geochemistry highs of 1870parts per billion (ppb) 1421ppb, 1360ppb, 300ppb and 279ppb gold. The Company believes this represents a great addition to its project portfolio and will immediately apply for exploration work permits including a detailed Airborne Electromagnetic (AEM) and Magnetic survey to be followed by prospecting, mapping and diamond drilling.In order to earn a 100% interest in the Project, the Company must complete the following obligations:$10,000 and 200,000 common shares on signing the option agreement and Exchange approval;$20,000 and 200,000 common shares on or before November 28, 2022;$20,000 and 200,000 common shares on or before November 28, 2023; and$40,000 and 400,000 common shares on or before November 28, 2024.The Optionors will retain a 2% Net Smelter Return royalty (NSR) whereby Benton, at its election, will have the right to buy back 1% NSR for $1 million.On behalf of the Board of Directors of Benton Resources Inc.,\"Stephen Stares\"Stephen Stares, PresidentAbout Benton Resources Inc.Benton Resources Inc. is a well-funded mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Following a project generation business model, Benton has a diversified, highly-prospective property por...