Puget Ventures Inc. and Benton Resources Corp. Sign Letter of Intent for Werner Lake-Rex Lake Area Claims

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[{"type":"text","content":"\n\n\n\nVANCOUVER, and THUNDER BAY, ON, Aug. 14 /CNW/ - Puget Ventures Inc.\n(TSXV:PVS), ("Puget Ventures") and Benton Resources Corp. (TSXV:BTC)\n("Benton") announced today that they have entered into a Letter of Intent for\nPuget Ventures to acquire an option to earn an initial 50% interest and a\nfurther 10% interest in Benton's interest in eight claims in the Werner\nLake-Rex Lake area in North Western Ontario. Benton has the right to earn a\n100% interest in the eight claims from the underlying owner, subject to a 2%\nNSR, 50% of which can be purchased for $1 million.\n\n\n"Puget Ventures is currently working to consolidate the Werner Lake-Rex\nLake Mineral Belt (the "Belt") and with these additional claims, Puget now has\naccess to a significant majority of the land position in the Belt and most of\nthe historically recorded mineral occurrences," said Erin Airton, President of\nPuget Ventures. "Puget expects to move quickly to commence exploration\noperations in the Belt, especially focused on the Nickel-PGE and Copper-Cobalt\nmineralized trends and showings."\n\n\n"Benton is pleased that Puget Ventures has signed the Letter of Intent\nregarding the Werner Lake-Rex Lake properties. We look forward to significant\nwork being completed on these properties of interest," said Stephen Stares,\nPresident and CEO of Benton.\n\n\nThe eight claim group covers approximately 1,237 hectares at the east end\nof the Werner Lake-Rex Lake Mineral Belt. Historical shallow diamond drilling\non the project completed by Eastern Mining and Smelting in 1956 intersected\n23.9m (metres) grading 1.02% Cu and 15.1gpt (gram per tonne) combined precious\nmetal (interpreted as silver) at approximately 60m vertically below surface.\n\n\nDiamond drilling completed by Falconbridge Nickel Mines Limited during\nthe late 1980s intersected 1.17% Cu and 9.5gpt Ag over 29.5m (at approximately\n50m vertical) that included 2.04% Cu and 5.3gpt Ag over 11.95m. An undercut\ndrill hole intersected a metamorphosed ultramafic (peridotite) that yielded\n22.8m grading 0.1% Cu and 0.31% Ni (at 140m vertical), suggesting better\npotential for nickel mineralization. All intervals are core lengths and true\nthicknesses are currently unknown. Surface channel sampling completed by\nAtikwa Minerals Limited in 2003 ret...

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