Business
Benton Sells Non-Core Portion of Goodchild Claims to Canadian Orebodies
Thunder Bay, Ontario--(Newsfile Corp. - August 7, 2018) - Benton Resources Inc. (TSXV: BEX) (&...
About this update from Benton Resources, Inc.
[{"type":"text","content":"Benton Sells Non-Core Portion of Goodchild Claims to Canadian OrebodiesThunder Bay, Ontario--(Newsfile Corp. - August 7, 2018) - Benton Resources Inc. (TSXV: BEX) (“Benton” or “the Company”) would like to announce that it has entered into an purchase agreement with Canadian Orebodies Inc. (“Canadian Orebodies”) whereby Benton will sell the southwest portion the “Goodchild Lake” mining property (the “Property”).  The portion of the property being sold consists of 31 claim cells totaling approximately 500 hectares, and covers a prospective trend adjacent to the northwest portion of Canadian Orebodies 100% owned Black Raven Property.  As consideration for the purchase, Canadian Orebodies will issue Benton 100,000 common shares in the capital stock of the Canadian Orebodies and grant Benton a 1.5% net smelter returns royalty (“NSR”).  Canadian Orebodies will have the option to buy-down 50% of the NSR at any time for the sum of $750,000.  Closing of the acquisition is conditional upon the receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange.”Benton is selling the south-western non-core claims as they lie outside the main Goodchild ultramafic intrusion where the Company holds the project for its Nickel-Cobalt and PGM potential.  The Goodchild Project is located 30km west of the world class Hemlo gold deposit and just 5km northeast of the Marathon Copper-PGM deposit held by Sibanye-Stillwater.  The property is located in the Cirrus Lake and Martinet Lake Area, Thunder Bay Mining Division and is adjacent to the north boundary of Canadian Orebodies’ recent gold discovery (see Canadian Orebodies PR dated February 20, 2018).  Historical exploration on the Goodchild project has returned up to 12.6% nickel, 0.5% copper, 0.16% cobalt, 1.8gpt palladium and 0.5gpt platinum from selective grab samples which are Benton’s main focus.  About Benton Resources Inc. (TSXV: BEX) Benton Resources Inc is a well-funded Canadian-based project generator with a diversified property portfolio in Gold-Silver, Nickel, Copper, and Platinum group elements.  Benton holds multiple high grade projects available for option which can be viewed on the company’s ...