Benton Resources Inc.
Benton Resources Inc. is a well-funded Canadian-based junior with a diversified property portfolio in Gold-Silver, Nickel, Copper, and Platinum group elements. Benton holds multiple high grade Gold and Base Metal projects available for option which can be viewed on the Companys web site. Most projects have an up to date NI 43-101 reports available.
Bedivere Gold Project, Ontario
The Bedivere Project is located 130 km west of Thunder Bay in Northwestern Ontario, within the Marmion batholith, between the 7.2M oz Hammond Reef Deposit and the 3.2M oz Moss Lake Deposit. Benton has increased its land package to over 4,800 hectares to cover the prospective NE-oriented mineralized regional break/structure. The Project has a new high grade discovery yielded results over 41 ounces per ton gold.
The Bedivere Project is an early stage gold discovery that the Company has spent in excess of $1 million in acquisition and exploration since acquiring it 18 months ago. These expenditures include the completion of 21 diamond drill holes on the Traxxin zone and a further 6 holes testing other targets on the project, totaling over 3,000 m. All results and project details can be viewed on the Companys website. Benton continues to expand the Traxxin Gold Zone and identifies new prospective areas at Bedivere Project.
Highlights from 2017 drilling at Bedivere include:
Highlights from the recent winter drill campaign include BED-18-022, the deepest hole to date on the Traxxin zone, which assayed 1.61g/t over 20.0 m including 3.43g/t over 7.4 m and 9.11g/t over 1.0 m and 7.65 g/t over 1.0 m. The Company continues to delineate the distinctive higher grade plunge within the wider mineralized and altered structure.
Cape Ray Gold Project, Newfoundland
The Cape Ray gold property is located on the west coast of Newfoundland and host to six gold deposits. Four of these deposits were the basis for last years Preliminary Economic Assessment.
On March 26, 2018, Benton announced that it has signed a binding Term Sheet (the "Agreement") with Matador Mining Limited ("Matador") (ASX: MZZ) of Western Australia for the sale of its 80% interest in the four main Cape Ray Deposits (held in an 80%-Benton 20%-Nordmin Engineering Limited joint venture) as well as a 100% interest in its remaining land positions held in the Cape Ray mining belt, which includes the Isle aux Morts and Big Pond deposits, for a cash payment of A$3.25 million (A = Australian dollars) and 8,000,000 common shares of Matador based on an underlying value of A$0.25/share (the "Consideration Shares") for a total consideration of A$5.25 million. The Company will also receive 833,333 options exercisable at a price of A$0.30 a share for a period of 2 years following the date of issuance.
Benton will continue to keep shareholders updated as it progresses through the terms of the Agreement and will work with Matador to complete a formal definitive agreement consistent with the terms contained within the Term Sheet.
Black Shale Gold Projects, Northern Newfoundland
On March 20, 2018, Benton provided an update on the Companys ongoing activities on the Great Northern Peninsula in Newfoundland. The Company has acquired two large land positions by staking: the GNP black shale gold property and the Cape Eagle property. Both projects are mapped by the Newfoundland government as having similar geology to that of White Metal Resources Corp.s new discovery where they recently announced highly anomalous gold values from their Gunners Cove Project over approximately 15 square kilometres in sedimentary black shale units. In addition, Bentons Cape Eagle project is tied directly to the east of Altius Minerals Corp.s new Sail Pond lead, zinc, copper, silver and gold discovery.
Benton has received all permits necessary to complete the airborne time-domain electromagnetic (EM) and magnetic (MAG) geophysical survey and the equipment has been mobilized. Benton is planning an exploration program to evaluate the targets generated by the airborne survey to begin in late May.
Management and Directors
Stephen Stares, President and Chief Executive Officer, Director
Mr. Stares is a successful business entrepreneur with over 25 years experience in mineral exploration. His first 7 years were spent with Noranda exploration on such projects as the Hemlo gold mines, Eagle River gold deposit and the Geco and Mattabi base metal camps. The next ten years of Mr. Stares' career was spent managing the operations of Stares Contracting Corp., a successful mineral exploration services company in Thunder Bay, Ontario.
From 2004 to present Mr. Stares has been directly involved in the start-up of 10 publicly traded companies on the TSX Venture exchange and was directly involved in assembling projects of merit and raising millions of dollars for these junior exploration companies. Throughout his career, Mr. Stares has discovered several major mineral occurrences in Canada that have been the subject of extensive exploration programs.
In March of 2007, Mr. Stephen Stares and Mr. Michael Stares, along with the rest of the Stares-Keats family, were the proud recipients of Prospectors and Developers Association (PDAC) Bill Dennis Prospector of the Year Award. This award was given to recognize the family's contributions to the industry of the past 40 years.
Clinton Barr, P.Geo., Vice President of Exploration and Director
Mr. Barr has been involved in mining exploration for over 25 years. From 1989-2001 he worked for major companies Noranda and Inco as a project geologist generating and evaluating base and precious metal opportunities throughout Canada and Turkey. During his tenure with Noranda he was personally involved in several new base metal discoveries. Since 2001 Mr. Barr consulted to several companies before helping establish Benton Resources.
Michael Stares, Director
Mr. Stares is also been successful entrepreneur being 50% owner in Stares Contracting Corp. in joint with president Stephen Stares. Mr. Stares background comes from 18 years of prospecting, 8 years for Noranda Exploration, having a fantastic track record for new discoveries. He has been given credit for the very timely advances in new discoveries on Benton's projects.
Gordon Fretwell, Corporate Secretary
Mr. Fretwell graduated from the University of British Columbia in 1979 with his Bachelor of Laws degree. Since that time, Mr. Fretwell has been a practicing solicitor in the City of Vancouver, primarily in areas of resource and securities law. In addition, Mr. Fretwell is a Director or Officer of various publicly traded companies including Asanko Gold, Auryn Resources Corp., Coro Mining Corp. and Canada Rare Earth Corp.
Evan Asselstine, CPA, CA, Chief Financial Officer
Mr. Asselstine has been the CFO of Benton Resources Inc. since its inception in 2012. In addition, he has been the CFO for Alset Energy Corp. (formerly Benton Capital Corp.) since 2008. Also, Mr. Asselstine has served as controller of Metals Creek Resources Corp.
William S. Harper, MBA, CPA, CA, Director
Mr. Harper is a professional accountant with more than 25 years experience in corporate finance and administration with public companies.
John Sullivan, P.Geo., Director
Mr. Sullivan has been with Excellon Resources Inc. since 2007 and has over 35 years of experience in the mineral industry.
On July 9, 2018, Benton Resources Inc. announced that it has entered into an option agreement pursuant to which Quadro Resources has acquired the right to earn Benton's 33.33-per-cent interest in the recently staked Conche property on Newfoundland's Great Northern Peninsula.
On June 22, 2018, Benton Resources Inc. announced that Benton Resources Inc., Metals Creek Resources Corp. and Quadro Resources Ltd. have acquired a new property on Newfoundland's Great Northern peninsula where reconnaissance prospecting discovered a new galena-chalcopyrite-zinc-fluorite zone. The zone consists of a number of two-centimetre-to-10-centimetre mineralized veins over a plus-20-metre-wide outcrop and a strike length of greater than 300 metres.
Eighteen grab samples were taken from the new zone, of which nine selective samples were rushed for analysis. Highlights from these assay results include up to 15.5 per cent lead and 192 grams per tonne silver.
In addition, Benton has completed a prospecting and mapping program on both its GNP black shale gold project and the Cape Eagle claim blocks.
On April 17, 2018, Benton Resources Inc. has received two cash payments from its recently announced agreements that include $90,000 (Australian) from Matador Capital Pty. Ltd. as the second payment of the Providence copper-nickel-platinum-group-elements property option, and an advance payment of $50,000 (Australian) from Matador Mining Ltd. of Western Australia toward the sale of the Company's Cape Ray project in Newfoundland for $5.25-million (Australian) in cash and shares.