Business
Benton options new high grade platinum-palladium discovery
Benton options new high grade platinum-palladium discovery.
About this update from Silver Valley Metals Corp
[{"type":"text","content":"\n\n\n\nTHUNDER BAY, ON, Aug. 20 /CNW/ - Benton Resources Corporation ("Benton"\nor the "Company") is pleased to report that it has entered into an option\nagreement with Joseph Hackl Sr. and Joseph Christopher Hackl Jr. (the\n"Vendors") whereby, subject to regulatory approval, the Company has the right\nto earn a 100% interest in the mineral claims referred to as the Bark Lake\nclaims located in northern Ontario (the "Property").\n\n\nUnder the terms of the option agreement, the Company must make cash\npayments totaling $59,000 and issue 40,000 common shares over a three year\nperiod. The Property is subject to a 2% NSR royalty, half of which (1%) may be\npurchased by the Company for $1,000,000.\n\n\nThe Bark Lake property is host to numerous newly discovered platinum\n(Pt), palladium (Pd), gold (Au), copper (Cu) and nickel (Ni) showings consist\nof mineralized ultramafic rock either in outcrop or dozens of mineralized\nboulders. The mineralized occurrences are situated along the Quetico Fault, a\nmajor crustal-scale east west oriented structure.\n\n\nGrab samples have returned grades up to 4.35gpt Pd, 2.64gpt Pt, 0.74gpt\nAu, 1.2% Cu, 0.5% Ni by the Vendors. Samples collected by Benton personnel\nhave confirmed significant precious and base metals across the project area.\nBenton is currently scheduling prospecting, mapping, line-cutting and ground\ngeophysics.\n\n\nClinton Barr (P.Geo.), V.P. Exploration for Benton Resources Corp., is\nthe qualified person responsible for this release.\n\n\nOn behalf of the Board of Directors of Benton Resources Corp.\n\n\n"Stephen Stares"\n\n\nStephen Stares, President\n\n\nTHE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT\n\n\nRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.\n\n\nForward-looking statements in this release are made pursuant to the safe\nharbor provisions of the Private Securities.\n\n\n","length":2011,"tagName":"div"}]