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Benton Resources Inc.
Summary
| Project: | Bedivere | |
|---|---|---|
| Deposit: | Bedivere | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 8/31/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 31-8-2017: Benton Resources Inc. announces an Exploration/Drilling Update report for its Bedivere deposit at the Bedivere project. Drilling results incl. 1.0m @ 37.30g/t Au from 22.7m. Thunder Bay, Ontario--(Newsfile Corp. - August 31, 2017) - Benton Reso | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Clinton Barr (Internal) | |
| ABSTRACT: | Thunder Bay, Ontario--(Newsfile Corp. - August 31, 2017) - Benton Resources Inc. (TSXV: BEX) ("Benton" or "the Company") is pleased to announce that it has received additional results from the recently completed 14-hole diamond drill program at their Bedivere Gold Project located in northwesternOntario. Highlights from hole BED-17-013 include 0.8gpt (grams per tonne) Au (gold) over 23.0m (metres) including 3.09gpt Au over 4.0m and 11.2gpt Au over 1.0m as well as a lower zone of 4.04gpt over 1.0m. The first drill campaign demonstrates the gold-bearing system is highly fertile, open at depth and along strike in both directions. Grid establishment followed by an Induced Polarization (I.P.) geophysical survey is starting immediately to help define further drill targets. The core was split or cut in half with one half being stored for future reference and the other half tagged and sent to Activation Laboratories Ltd. in Thunder Bay, ON. The core samples were analyzed for gold using using fire assay (FA) with an atomic absorption (AA) finish. Samples with grades greater than 5gpt gold were completed with a gravimetric finish. Standards and blanks were inserted into the sample batches as part of the Company's QA/QC protocols. Benton also controls the Cape Ray gold deposits located on the west coast of Newfoundland. The results of the Cape Ray PEA include a pre-tax net present value ("NPV") at a 7% discount rate of $48.5 million with a pre-tax internal rate of return ("IRR") of 31% and a post-tax NPV at a 7% discount rate of $32.4 million with a post-tax IRR of 25%. The reader should be cautioned that the PEA is preliminary in nature. It contains inferred mineral resources that are considered too speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. | |
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