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Benton and Pacific North West to jointly explore Swayze Greenstone Belt
THUNDER BAY, ON, Feb. 12 /CNW/ - Benton Resources Corp. (TSX.V : BTC) ("Benton") and Pacific Nort...
About this update from Silver Valley Metals Corp
[{"type":"text","content":"\n\n\n\nTHUNDER BAY, ON, Feb. 12 /CNW/ - Benton Resources Corp. (TSX.V : BTC)\n("Benton") and Pacific North West Capital Corp. ("PFN") (TSX: PFN) are pleased\nto report that they have entered into a Joint Venture (JV) agreement to\nundertake exploration on the Swayze Nickel Project. The Swayze Joint Venture\nProject is situated in the Swayze Greenstone Belt, approximately 100km\nsouth-west of Timmins, Ontario and incorporates some fifty townships. The\nSwayze Greenstone Belt represents the western extension of the Abitibi\nGreenstone Belt, which is the host to numerous ultramafic-hosted Ni deposits\nincluding the producing Redstone Mine (Liberty) south of Timmins as well as\nthe newly discovered Golden Chalice Occurrence.\n\n\nThe Swayze Joint Venture Project was initiated by both companies to\ninclude each of their property holdings within the project area. These\nholdings will continue to grow through the staking and optioning of selected\nproperties that have the potential to host nickel, copper, and PGM\nmineralization within the belt. Exploration programs will be designed to\nidentify and test priority areas within the project boundaries. The Swayze is\nunderlain in several areas by ultramafic flows and intrusions, some of which\nhost historical nickel showings including the Joint Ventures' Tooms Showing\nwhich has historically reported 2.5% Ni over 1.6m within a drill intersection\nof 0.63% Ni over 7.3 metres.\n\n\nBenton Resources and Pacific North West Capital have entered into a 50% -\n50% Joint Venture Agreement whereby both Companies agree to bear all\nexpenditures and participate in a single purpose unincorporated Joint Venture\nfor the purpose of carrying out all mineral exploration for a three year\nperiod, totaling a minimum of $1,200,000.\n\n\nBenton will act as Operator for the project and will be responsible for\ncarrying out all exploration activities.\n\n\nAbout Benton Resources Corp:\n\n\nBenton Resources Corp. is a mineral exploration company listed on the TSX\nVenture Exchange under the symbol BTC. Benton's aggressive and experienced\nmanagement team is focused on base and precious group metal exploration. The\nCompany's diverse property portfolio includes Canadian projects which are\nhighly prospective for gold, uranium, platinum, palladium, nickel and copper.\nThe Company currently ha...