Benton Resources drills wide zones of significant gold at South Pond, Newfoundland

Benton Resources Inc. [TSXV: BEX] reported that the South Pond Gold Zone (SPGZ) in south-central Newfoundland has been substantially expanded based on the initial results received from the first four holes from the previously announced drilling program.

The results will successfully expand the extents of the SPGZ, which remains open in all directions and include significant drill intercepts. Notably, Hole SP-24-07 intersected an impressive 74.20 metre of 1.43 g/t gold and hole SP-24-03 encountered 43.75 metres grading 1.62 g/t gold. To date, Benton has completed 23 drill holes in its ongoing program at South Pond totalling 3,183 metres.

Drill hole SP-24-03 tested a strong magnetic anomaly approximately 40 metres due north of historical hole SP-21-01 completed by Homeland Nickel Inc. (formerly Spruce Ridge Resources Ltd.) which intersected 51.00 metres grading 1.69 g/t gold. Drill hole SP-24-07 tested the Magnetic Horizon approximately 45 metres south-southeast of the historical hole and was drilled at -87 degree dip which tested the potential height of the mineralized zone with highly positive results. Base metal assays will follow in the coming weeks.

The company has developed a strong exploration model to guide active work at South Pond. Focused field geological mapping and ground magnetics surveying, jointly evaluated by Benton personnel and consulting geoscientist Mike Cooley, have led to the development of a new geological and geophysical model. The model suggests that the mineralized sequence is structurally thickened due to folding and/or faulting.

This has resulted in a near-surface zone of thicker mineralization that may be amenable to shallow open-pit mining methods. Testing the model is proving to be very successful with 22 diamond drill holes completed on the >2.5 km long mineralized magnetic horizon. All holes have intersected significant mineralization and thicknesses with drill core being cut and delivered to Eastern Analytical on a regular basis.

At the Great Burnt Copper Deposit, the company completed one 200-metre step-out hole (GB 24-48) down plunge and along strike to the south of the deepest intercept in drill hole GB 24-45, which cut 12.3 metres of 1.72% Cu.

This hole cut anomalous copper mineralization but is believed to be just above or below the main horizon. The company is currently planning a down hole deep EM survey to target the zone for follow-up drilling. In addition, drilling will also test the potential footwall zone at Great Burnt, which has previously cut highly anomalous gold along with copper grades. Regional exploration continues with many new anomalous zones of copper and gold, in addition to nickel.

Benton also completed the necessary exploration expenditures to earn its 70% interest in the Great Burnt Copper-Gold Project and Homeland Nickel recently notified the company that they will participate as a joint venture partner on a 70% (Benton) – 30% (Homeland) basis with respect to exploration expenditures moving forward with Benton as the operator.

Company President and CEO, Stephen Stares, stated, “We are very excited that our first results from South Pond have delivered exceptional results over significant widths. The Company is confident that we are onto a robust mineralized system and we look forward to continuing drilling, as well as more extensive regional exploration. Since acquiring the project just over a year ago, our team has made excellent advancements on all fronts and I am extremely proud of what we have achieved in such a short period of time.”

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 at 3.21% Cu Indicated and 482,000 at 2.35% Cu Inferred. The Project has an excellent geological setting covering 25km of strike and boasts six known Cu-Au-Ag zones over 15km 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 metres of 5.51% Cu, including 9.78 metres of 8.31% Cu, and 1.00 m of 12.70% Cu.