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Royal Roads & Benton provide exploration update for Long Range JV, Newfoundland
Royal Roads & Benton provide exploration update for Long Range JV, Newfoundland
About this update from Silver Valley Metals Corp
[{"type":"text","content":"\n\n\n\n May 7, 2010 (Canada NewsWire Group) -- \n >\n\n\n Royal Roads Corp. (RRO-TSX-V) ("Royal Roads") and Benton Resources Corp. (BTC-TSX-V) ("Benton") (the "Companies") wish to provide the following exploration update on their Long Range Nickel joint venture in central Newfoundland, Canada. The recently announced diamond drilling program at the Range copper prospect (news release dated April 1, 2010) is now complete. Four holes and an extension of a previous hole were drilled to test the zone over a 200 m strike with all holes failing to intercept significant sulphide mineralization. As a result, the zone is now believed to have a different geometry than originally interpreted. Borehole geophysical surveys completed during the program on three of the available drill holes confirm the existence of the conductor associated with the zone; however, rugged terrain and an adjacent lake limited accessibility for positioning of subsequent drill holes. As a result, two holes undertaken after completion of borehole geophysics were unable to effectively test the prospect. The Companies believe additional ground geophysics and diamond drilling may be warranted in early 2011, when frozen lake conditions allow access over the prospect. The Range Prospect is still considered significant, as drilling in 2009 returned an intercept of banded, semi-massive and massive sulphides averaging 0.39% copper and 0.032% cobalt over a core length of 37.8 metres. The Companies believe the mineralization may remain open in several directions.\n\n\n >\n\n\nPlanned exploration activities over other portions of the joint venture property are currently set to commence May 18th, with a contract awarded to Fugro Airborne Surveys Corp of Mississauga, Ontario to complete over 1,400 line kilometres of helicopter-borne HELITEM(R) geophysical surveys over additional claims acquired since September 2009, totaling more than 200 km2. The additional claims cover unexplored gabbro bodies recently recognized as being prospective for magmatic nickel-copper sulphide deposits. Surveys will be followed up by prospecting upon receipt of results.\nInitiated in February, advanced surveys consisting of approximately 70 line kilometres of deep-seeking time domain electromagnetic surveys over the Portage Nickel Prospect and surrounding area are current...