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Benton discovers new high grade nickel and copper along with platinum and palladium at Bark Lake
Benton discovers new high grade nickel and copper along with platinum and palladium at Bark Lake.
About this update from Silver Valley Metals Corp
[{"type":"text","content":"\n\n\n\nTHUNDER BAY, ON, Oct. 5 /CNW/ - Benton Resources Corporation ("Benton" or\nthe "Company") is pleased to report that initial grab sampling from the first\nphase prospecting program on its Bark Lake Project has identified high grade\nNickel (Ni) and Copper (Cu), along with Platinum (Pt), Palladium (Pd) and Gold\n(Au). The new samples, which were taken approximately 200 meters to the north\nof the previously announced area of mineralization (BTC P.R Aug 20, 2007) has\nreturned individual assays grading up to 1.5% Nickel, 1.2% Copper, 2.6 gram\nper tonne (gpt) Pt, 1.4gpt Pd and 0.7gpt Au. Twelve out of the 16 samples\ntaken from the area returned results higher in Platinum than Palladium. Also\nof particular interest was the discovery of several semi-massive, net-textured\nsulphide boulders, with one measuring around 1 cubic metre in size and\nassaying 1.5% Ni. The boulders are angular in nature and believed to be\nlocated very close to source. Given the many positive indications at this\nearly stage Benton management feels that the Bark Lake Project has good\npotential to host a Ni-Cu-Pt-Pd deposit of economic significance.\n\n\nThrough additional recent staking, Benton has more than doubled its\ninitial land position at Bark Lake and has started an aggressive exploration\nprogram to include line cutting (now complete), followed by geological\nmapping, prospecting, ground geophysics including magnetics, Max-Min\nelectromagnetics, and an induced polarization survey to be followed by diamond\ndrilling.\n\n\nThe Bark Lake property is host to numerous newly discovered Ni-Cu-Pt-Pd\nmineralization hosted in ultramafic rock either in outcrop or among dozens of\nmineralized boulders. The mineralized occurrences are situated along the\nQuetico Fault, a major crustal-scale east west oriented structure. Several\nother companies including Teck Cominco Ltd, have recently taken an interest by\nstaking and/or joint venturing mafic intrusive bodies along this same fault\nzone (See Pro-am Exploration (PMX) news of August 20, 2007).\n\n\nRecently Announced Financing:\n\n\nFurther to its news releases of September 26, 2007 and September 27, 2007\nBenton advises that it will also pay Westwind Partners Inc. ("Westwind") a 7%\ncash fee of the gross proceeds from the financing and that number of broker\nwarrants equa...