Mr. Stephen Stares reports
BENTON PURCHASES STRATEGIC GROUND DIRECTLY ALONG STRIKE OF THE SOUTH POND GOLD DEPOSIT FROM NOBLE MINERALS
Benton Resources Inc. has entered into a purchase agreement to acquire a 100-per-cent interest in Noble Mineral Exploration Inc.'s Island Pond property. Subject to TSX Venture Exchange approval, the company will pay a one-time cash payment of $30,000 and issue one million common shares to Noble.
The Island Pond property is strategically located north of Benton's South Pond gold zone within the Great Burnt copper-gold project area. Geological and geophysical similarities between the Island Pond and South Pond areas suggest a potential continuation of significant gold-copper mineralization along the same structural trend.
By securing 100-per-cent ownership of Island Pond, Benton has effectively expanded its land position and consolidated control over the northern extension of the South Pond trend. This could potentially add greater than 1,000 metres to the current 2.7 kilometres of mineralized trend. The company will plan immediate prospecting and geophysics to evaluate its potential.
The shares will have a standard four-month hold period from the TSX Venture Exchange approval date, and the project is subject to an underlying 2-per-cent net smelter royalty to an original underlying vendor and a 1-per-cent NSR to Noble. Benton will assume all rights of the original 2 per cent, including the right to buy the NSR back for $1.5-million and a right of first refusal for Noble's 1-per-cent NSR.
To date, Benton has drilled 23,300 m from late 2023 to present at Great Burnt and South Pond with some highlights listed below.
South Pond highlights:
- SP-24-01: 18.80 metres of 1.13 grams per tonne gold and 5.96 m of 2.06 g/t Au;
- SP-24-03: 43.75 m of 1.62 g/t Au, including 4.00 m of 3.99 g/t Au;
- SP-24-07: 74.20 m of 1.43 g/t Au, including 8.00 m of 2.94 g/t Au;
- SP-24-08: 14.00 m of 1.23 g/t Au including 4.00 m of 2.33 g/t Au;
- SP-24-09: 24.00 m of 1.48 g/t Au, including 7.00 m of 2.03 g/t Au;
- SP-24-10: 20.00 m of 1.04 g/t Au and 25.00 m of 1.54 g/t Au;
- SP-24-12: 27.07 m of 1.08 g/t Au, including 5.00 m of 2.11 g/t Au;
- SP-24-13: 19.75 m of 1.42 g/t Au, including 4.00 m of 3.08 g/t Au;
- SP-24-15: 22.50 m of 1.24 g/t Au, including 4.00 m of 2.08 g/t Au;
- SP-24-23: 6.75 m of 2.90 g/t Au;
- SP-24-28: 27.40 m of 1.00 g/t Au, including 3.00 m of 2.92 g/t Au;
- SP-24-30: 8.00 m of 2.07 g/t Au, including 2.00 m of 4.83 g/t Au.
Note: Widths quoted are true core length, and true widths are estimated at approximately 70 per cent of core lengths.
Qualified person
Stephen House (PGeo), vice-president of exploration for Benton, the qualified person under National Instrument 43-101, has approved the scientific and technical disclosure in this news release, and prepared or supervised its preparation.
Quality assurance/quality control protocols
Core and rock samples, including standards, blanks and duplicates, are submitted to Eastern Analytical Ltd., Springdale, Nfld., for preparation and analysis. All samples were acquired by saw-cut (channels/drill core) with one-half submitted for assay and one-half retained for reference, or hand (rocks) delivered, by Benton personnel, in sealed bags, to the Springdale lab of Eastern Analytical, which is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples are analyzed using Eastern's Au (fire assay) of 30 grams plus ICP-34 method that delivers a 34-element package utilizing a 200-milligram subsample totally dissolved in four acids and analyzed by ICP-OES analytical technique. Overlimits are analyzed with Eastern's atomic absorption method, using a 0.200 gram to 2.00 grams of sample, digested with three acids. All reported assays are uncut. Eastern Analytical achieved ISO 17025 accreditation in February, 2014 (for more details on the scope of accreditation, visit the Cala website). Grab samples are selective in nature and may not represent the average mineralization of a bedrock exposure.
About Benton Resources Inc.
Benton Resources is a well-financed mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Benton has a diversified, highly prospective property portfolio and holds large equity positions in other mining companies that are advancing high-quality assets. Whenever possible, Benton retains net smelter return royalties with potential long-term cash flow.
Benton is focused on advancing its high-grade copper-gold Great Burnt project in central Newfoundland, which has a mineral resource estimate of 667,000 tonnes of 3.21 per cent copper indicated and 482,000 of 2.35 per cent Cu inferred. The project has an excellent geological setting covering 25 kilometres of strike and boasts six known copper-gold-silver zones over 15 km that are all open for expansion. Further potential for discovery is excellent given the extensive number of untested geophysical targets and Cu-Au soil anomalies. Phase 1 and 2 drill programs returned impressive results, including 25.42 m of 5.51 per cent Cu, including 9.78 m of 8.31 per cent Cu, and 1.00 m of 12.70 per cent Cu. Drilling at the South Pond gold zone, approximately 7.5 km north of the Great Burnt copper-gold zone, has confirmed a robust gold-mineralized system over 2.7 km with results of 74.20 m of 1.43 g/t Au and 43.75 m of 1.62 g/t Au and open for expansion in all directions.
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