Business
Benton Resources Corp. (BTC) Acquires New Ni-Cu Property
THUNDER BAY, ON, Dec. 6 /CNW/ - Benton Resources Corp. ("Benton" or the "Company") is pleased to ...
About this update from Silver Valley Metals Corp
[{"type":"text","content":"\n\n\n\nTHUNDER BAY, ON, Dec. 6 /CNW/ - Benton Resources Corp. ("Benton" or the\n"Company") is pleased to report that the Company has entered into a binding\nletter of intent to acquire the Rex Lake Nickel-Copper (Ni-Cu) property\nlocated approximately 90 kilometres north of Kenora, Ontario. The property\nconsists of eight unpatented mining claims totaling 85 units. Benton can earn\n100% interest by paying $50,000 and 30,000 shares over 3 years. The property\nis also subject to a 2% NSR payable to the vendor, of which Benton can buy\nback 1% for 1 million dollars. Historic mineral deposits in the area include\nthe past producing Gordon Lake Ni-Cu-PGE Mine, past producing Werner Lake\nCu-Co-Au Mine and the Norpax Ni-Cu-PGE Deposit located along strike 15km, 19km\nand 24km east of the Rex Lake Property respectively.\n\n\nHistorical shallow diamond drilling completed by Eastern Mining and\nSmelting in 1956 intersected 23.9m (metres) grading 1.02% Cu and 15.1gpt (gram\nper tonne) combined precious metal (interpreted as silver) at approximately\n60m vertically below surface. Diamond drilling completed by Falconbridge\nNickel Mines Limited during the late 1980s intersected 1.17% Cu and 9.5gpt Ag\nover 29.5m (at approximately 50m vertical) that included 2.04% Cu and\n5.3gpt Ag over 11.95m. An undercut drill hole intersected a metamorphosed\nultramafic (peridotite) that yielded 22.8m grading 0.1% Cu and 0.31% Ni (at\n140m vertical), suggesting better potential for nickel mineralization. All\nintervals are core lengths and true thicknesses are currently unknown. Surface\nchannel sampling completed by Atikwa Minerals Limited in 2003 returned\nanomalous levels of platinum and palladium values (0.09 to 0.145gpt). The\nmineralization host is described as metamorphosed intrusive mafic-ultramafic\n(gabbro, pyroxenite, peridotite) units in sulphide-rich metasediments of\nArchean age.\n\n\nBenton believes the property geology is highly favourable for\nnickel-copper mineralization and is currently organizing grid establishment to\nbe followed by ground geophysics for this upcoming winter season. The ground\nwork will be used to delineate diamond drill targets. This new acquisition\nconforms to Benton's focus of directing exploration efforts towards\nnickel-copper mineralization.\n\n\nClinton Barr (P.Geo.), V.P. Exploration for...