Business
Benton Provides Exploration Update
Thunder Bay, Ontario--(Newsfile Corp. - December 18, 2017) - Benton Resources Inc. (TSXV: BEX)...
About this update from Benton Resources, Inc.
[{"type":"text","content":"Benton Provides Exploration UpdateThunder Bay, Ontario--(Newsfile Corp. - December 18, 2017) - Benton Resources Inc. (TSXV: BEX) (\"Benton\" or \"the Company\") would like to provide an update on the Company's ongoing activities. BEDIVERE GOLD: Benton has recently completed a further 7 diamond drill holes totaling 1,245m on the project bringing the total for the year to 21 diamond drill holes. Core samples have been cut and submitted for assays and results will be released when received and compiled. The Company has temporarily halted drilling for the holiday break and will resume drilling in January 2018 with a focus on expanding the Traxxin Zone to depth and along strike. CAPE RAY GOLD: The Company continues to work diligently on moving the project forward in the best interest of shareholders and details will be released in as soon as they are finalized. The Company believes the Cape Ray deposits are significantly undervalued compared to current industry peers and intends to undertake measures aimed at unlocking its true value. The Cape Ray gold deposits are located on the west coast of Newfoundland and consist of 6 deposits, 4 of which have NI 43-101 indicated resources totaling 182,933 ounces of gold and inferred resources totaling 261,283 ounces of gold in addition to a recently released PEA that includes a pre-tax net present value (\"NPV\") at a 7% discount rate of $48.5 million with a pre-tax internal rate of return (\"IRR\") of 31% and a post-tax NPV at a 7% discount rate of $32.4 million with a post-tax IRR of 25%. The reader should be cautioned that the PEA is preliminary in nature. It contains inferred mineral resources that are considered too speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. GNP BLACK SHALE GOLD: The Company would also like to announce that it has applied for permits to complete an airborne time-domain electromagnetic (EM) and magnetic (MAG) geophysical survey on the 100% owned GNP project located in northern Newfoundland, near St. Anthony. The claims being flown are south of the licenses held by White Metals Resources Corp. and Metals Creek Resources Corp. A recent discovery of anomalous gold values over approximately a 16 square kilometre area in black sedimentary shale units (See White Metal Resources Corp.'s PR dated Nov...