Benton Resources Corp.
TSX VENTURE : BTC

Benton Resources Corp.

October 19, 2010 10:02 ET

Benton Intersects Multiple Nickel-Copper-Cobalt Zones at Kingurutik Nickel Project and Commences Drilling in Timmins

THUNDER BAY, ONTARIO--(Marketwire - Oct. 19, 2010) - Benton Resources Corp. ("Benton" or "the Company") (TSX VENTURE:BTC) is pleased to announce the Company has received assay results from the recently completed drill program on the Kingurutik Lake Nickel project located approximately 60 kilometers north of the world class Voisey's Bay nickel-copper-cobalt deposit. The project is a joint venture between Benton and Teck Resources Limited ("Teck"). Teck did not contribute to the current program and as a result will incur dilution of its interest which was 50% prior to the program. The amount of dilution will be calculated once the final program expenditures have been approved. Several of the drill targets tested intersected magmatic sulphide mineralization that returned significant amounts of nickel, copper, and cobalt values that suggests further work is warranted to evaluate the size of these mineralized zones. Of particular interest are the results from the A Zone area that was tested with a single drill hole (KL10-11). This hole intersected multiple intervals of semi-massive sulphide with several sections grading better than 1% nickel and 1% copper. Follow-up work is currently being planned for early spring to explore and delineate the significant mineralization.

A table of significant results are as follows:
 
Hole Number   Location   From (m)   To (m)   Width (m)   Ni (%)   Cu (%)   Co (%)
KL10-01   P Zone   3.75   9.30   5.55   0.29   0.31   0.05
    including   4.75   5.40   0.65   0.68   0.62   0.10
    including   9.00   9.30   0.30   0.63   0.28   0.10
KL10-02   P Zone   15.80   16.40   0.60   0.60   0.26   0.09
    and   24.25   24.55   0.30   0.52   0.40   0.08
    and   28.95   29.75   0.80   0.48   0.49   0.08
    and   36.50   36.90   0.40   0.32   0.76   0.06
    and   164.19   164.64   0.45   0.40   0.68   0.06
KL10-03   P Zone   6.00   6.40   0.40   0.34   0.54   0.08
    and   11.90   12.90   1.00   0.46   0.48   0.07
    and   26.40   27.10   0.70   0.59   0.38   0.09
    and   31.10   34.00   2.90   0.51   0.40   0.08
    including   32.90   34.00   1.10   0.80   0.47   0.01
    and   111.80   129.00   10.20   0.49   0.54   0.08
    including   122.40   129.00   6.60   0.52   0.53   0.08
    including   126.50   128.00   1.50   0.73   0.28   0.01
KL10-04   Black Beard - nsa                        
KL10-05   Black Beard   20.60   22.00   1.40   0.20   0.44   0.04
KL10-06   Black Beard   86.10   87.20   1.10   0.18   0.23   0.04
KL10-07   Red Beard   86.30   86.70   0.40   0.20   0.35   0.05
KL10-08   Red Beard   58.20   58.60   0.40   0.13   0.23   0.03
KL10-09   Bull South -nsa                        
KL10-10   Bull North - nsa                        
KL10-11   A Zone   12.70   13.40   0.70   1.27   1.21   0.08
    and   18.40   22.80   4.40   0.85   0.71   0.09
    including   18.40   19.20   0.80   1.26   0.58   0.08
    including   19.20   20.10   0.90   1.47   0.48   0.09
    including   21.10   22.80   1.70   0.83   1.13   0.06
    including   21.10   21.80   0.70   0.06   1.20   0.01
    including   21.80   22.80   1.00   1.37   1.08   0.09
KL10-12   D Grid   29.50   30.70   1.20   0.32   0.18   0.03

Benton would like to thank the government of Newfoundland and Labrador for financial support of this project through the Junior Exploration Assistance program, part of the provincial Mineral Incentive Program.

Benton also wishes to announce that it has initiated drilling on the Deloro property, located 900 meters west of the past producing Delnite gold mine in Timmins, Ontario. A 1,500 meter drill program will test at depth, the south zone mineralization previously intersected in the December, 2009 and January, 2010 drilling programs. The South Zone is located approximately 500 meters south of the Delnite mine horizon. Mineralization consists of brecciated quartz-tourmaline veins hosted with pyrite rich sericitized mafic volcanic rocks. Significant results from previous drilling by Benton on the south zone include 8.57 gpt (grams per tonne) Au (gold) over 3.5 meters (hole DH09-12), 5.32 gpt Au over 1.0 meters (hole DH10-14) and 3.02 gpt Au over 1.5 meters (hole DH10-27) (see January 26, 2010 news release). 

Benton is a Canadian based junior with multiple joint ventures and a diversified property portfolio in Gold, Nickel, Copper, and Platinum group elements. The company currently has approximately $8 million in cash, owns 38.7 million shares and 19.1 million warrants in Coro Mining Corp (TSX:COP), holds 1.56 million shares in Marathon PGM Corp (TSX:MAR), holds 1.6 million shares in Puget Ventures (TSX VENTURE:PVS), holds 825,000 Bell Copper Corp (TSX VENTURE:BCU) and retains a 2% Net Smelter Royalty on the northern portion of the Marathon PGM deposit. The company is also in the process spinning out its 100% Bermuda property to it share holders into a new company to be named Coldwell Copper Corp.

Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Corp., is the qualified person responsible for this release.

On behalf of the Board of Directors of Benton Resources Corp.

Stephen Stares, President

Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Benton Resources Corp.
    Stephen Stares
    (807) 475-7474
    (807) 475-7200 (FAX)
    www.bentonresources.ca
    or
    Investor Relations:
    Clair Calvert
    204-799-2086