Business
Benton Provides Update on Activities and Project Advancements
Thunder Bay, Ontario--(Newsfile Corp. - May 27, 2020) - Benton Resources Inc. (TSXV: BEX) ('Be...
About this update from Benton Resources, Inc.
[{"type":"text","content":"Benton Provides Update on Activities and Project AdvancementsThunder Bay, Ontario--(Newsfile Corp. - May 27, 2020) - Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is pleased to provide an update on its current plans for its project portfolio as well as highlight current strategic equity positions held by the Company. Clean Air Metals Inc.As previously announced by the Company on May 22, 2020, Clean Air Metals Inc. (TSXV: AIR) (\"CAM\") received all regulatory approvals related to its option to acquire Benton's option on the Escape Lake and Thunder Bay North properties (collectively the \"TBN Project\") and resumed active trading on the TSX Venture Exchange with strong momentum. Benton holds 24.6 million shares of CAM as well as a 0.5% net smelter return royalty from production on the Escape Lake Property and a 0.5% net smelter return royalty from production on any mineral claims comprising the Thunder Bay North Project over which a net smelter royalty has not previously been granted. CAM has announced that it has initiated its first phase diamond drill campaign consisting of 10,000m of drilling at the Escape Lake intrusion portion of its TBN Project located 40 kilometres northeast of Thunder Bay, Ontario. This first phase of drilling will consist of approximately 15 to 20 holes of 500-600m each, nominally on 50m centres and is designed to test the Escape Lake high-grade zone target discovered in six holes by the previous project operator. CAM's qualified person is in the process of validating the historical drilling data at Escape Lake including relogging and resampling of selected core intercepts and performing quality assurance/quality control checks on original certified analytical data. The target area is located at approximately 350m to 450m vertical depth. The objective of the program is to better define the full geological extent of the mineralized area as a precursor to eventual preparation of a mineral resource estimate when warranted.Quadro Resources Inc.The Company currently holds 4.2 million shares of Quadro Resources Inc. (TSXV: QRO) (\"Quadro\"). Quadro has provided an update on its projects in Newfoundland and Labrador as well as Ontario. During the past six months, Quadro has added two significant properties to its portfolio, the Long Lake gold project in central Newfoundland and the Seagull Lake ...