Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Hi, ive been in BTC since .35 cents i just discovered this place
poco
Benton Resources Corp. (BTC, BTC-WT) Finalizes Participation Agreement and Completes First Equity Financing With Stillwater Mining Corp.
Friday July 20, 12:50 pm ET
http://biz.yahoo.com/iw/070720/0280759.html
THUNDER BAY, ON--(MARKET WIRE)--Jul 20, 2007 -- Benton Resources Corp. ("Benton") (CDNX:BTC.V - News) is pleased to announce that, further to its news release of April 16, 2007, it has finalized its Participation Agreement (the "Agreement") with Stillwater Mining Company ("SWM") whereby SWM has the exclusive right to earn up to an initial 50% interest in the Goodchild and South Goodchild Ni-Cu-PGE projects (collectively the "Goodchild Project") by completing three separate financings in Benton in the aggregate amount of C$6.0 million dollars over a three-year period at a 50% premium to the 20-day rolling average of Benton's share price prior to the completion of each of the three financings (the "Market Price"). SWM will have the right to take their interest to 70% by incurring a further $24.0 million in exploration or completing a feasibility study on the Goodchild Project, whichever first occurs. Benton will remain as operator for the first three years during the initial period of the Agreement.
In accordance with the Agreement SWM has completed the first financing of Cdn$1.6 million consisting of 1,290,322 common shares at a price of $1.24 per common share. The common shares issued to SWM are subject to a four-month hold period which expires on November 11, 2007. Benton is, under the Agreement, required to spend $600,000 of the first financing on the Goodchild Project.
To earn its 50% interest in the Goodchild Project SWM must complete: (i) a second financing of Cdn$2 million on July 10, 2008 at 50% premium to the Market Price at that time, of which Benton will be required to spend Cdn$1 million on the Goodchild Project; and (ii) a third financing of Cdn$2.4 million on July 10, 2009 at 50% premium to the Market Price at that time, of which Benton will be required to spend Cdn$1.4 million on the Goodchild Project.
The Goodchild Project is located approximately 15 kilometres north of Marathon, Ontario and is host to several nickel showings with grab samples assaying up to 12.6% nickel (collected by Falconbridge/Xstrata personnel in September 2006). The large ultramafic intrusion measures approximately 5 by 8km and has numerous untested airborne electromagnetic anomalies detected from a survey completed almost 20 years ago. Linecutting crews are currently establishing grids over the airborne anomalies in preparation for prospecting, geological mapping, and ground geophysics to help prioritize diamond drill targets. Benton will keep their shareholders updated on developments at the Goodchild Project as exploration moves forward.
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"
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities.
Distributed by Filing Services Canada and retransmitted by Marketwire
Contact:
For further information contact:
Stephen Stares
3290 Willard Ave
Thunder Bay, Ont.
P7E 6J7
Phone (807)475-7474
Fax (807)475-7200
http://www.bentonresources.ca
--------------------------------------------------------------------------------
Source: Benton Resources Corp.
Benton Resources Corp. (BTC) confirms copper, nickel and cobalt mineralization at the King Lake project, Labrador
Thursday July 19, 9:59 am ET
http://biz.yahoo.com/cnw/070719/benton_king_lake_prjt.html?.v=1
THUNDER BAY, ON, July 19 /CNW/ - Benton Resources Corp. ("Benton") and partner Teck Cominco Limited ("Teck Cominco") have received assays from an initial four grab samples collected from their King Lake project in Labrador and submitted to Accurassay Laboratories of Thunder Bay, Ontario. The samples verify that copper, nickel and cobalt mineralization is associated with the large conductive anomaly previously reported by Benton (PR dated June 7, 2007). The four samples were collected over a 750 metre strike length associated with a large, highly gossanous area. Individual assays returned values up to 2.02% copper, 0.86% nickel and 0.11% cobalt. Benton remains optimistic about this early stage project and is anticipating the complete results of the initial sampling program completed as follow-up to the airborne survey that was flown over the property in April of this year.
The King Lake Nickel project is located 60 km north of the world class Voisey's Bay nickel deposit in Labrador and is host to numerous, high-grade nickel-copper showings that have returned up to 6.8% copper and 1.9% nickel.
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"
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities.
For further information
Stephen Stares at 3290 Willard Ave, Thunder Bay, Ont., P7E 6J7, Phone (807) 475-7474, Fax (807) 475-7200, www.bentonresources.ca
Investor relations: In Canada: First Canadian Capital, Daniel Boase, Phone (416) 742-5600, Fax (416) 742-6410
In U.S.A: The Windward Agency, Kelly Boatright, Phone (704) 588-8600
--------------------------------------------------------------------------------
Source: Benton Resources Corp.
I-Hub Benton Web Site: http://investorshub.advfn.com/boards/board.asp?board_id=8989
Benton Resources Corp. (BTC) acquires more ground at the King Lake project in Labrador
Thursday July 5, 12:21 pm ET
http://biz.yahoo.com/cnw/070705/benton_king_lake_proj.html?.v=1
THUNDER BAY, ON, July 5 /CNW/ - Benton Resources Corp. ("Benton") is pleased to announce that they have staked an additional 788 claim units (19,700 hectares) contiguous to the west side of the King Lake nickel-copper project located 60 km north of the world class Voisey's Bay nickel deposit in Labrador.
Benton and their partner Teck Cominco Limited are currently prospecting and geologically mapping the King Lake project, an initial work program that is scheduled to continue to mid-July. This early stage ground follow-up has confirmed the presence of local net-textured to semi-massive sulphides occurrences coincidental to the gossanous outcrop and large conductive anomaly reported on earlier (PR June 7, 2007 and June 22, 2007). Assays of the grab samples are pending. Subsequently, Benton elected to increase their land holdings in the area.
The King Lake Nickel project is host to numerous, high-grade nickel-copper showings that have returned up to 6.8% copper and 1.9% nickel. Airborne survey maps which demonstrate the similarities between King Lake and Voisey's Bay can be found on Benton's website at www.bentonresources.ca.
Benton remains excited about the potential of the project. Results of the initial follow-up program of prospecting and mapping will be released to the public domain as they are received and compiled.
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"
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking statements in this release are made pursuant to the safe
harbor provisions of the Private Securities.
For further information
Stephen Stares, 3290 Willard Ave, Thunder Bay, Ont., P7E 6J7, Phone (807) 475-7474, Fax (807) 475-7200, www.bentonresources.ca
Investor relations: In Canada: First Canadian Capital, Daniel Boase, Phone (416) 742-5600, Fax (416) 742-6410
In U.S.A: The Windward Agency, Kelly Boatright, Phone (704) 588-8600
--------------------------------------------------------------------------------
Source: Benton Resources Corp.
Benton Resources Corp. (BTC) mobilizes crew to evaluate large conductive anomalies on King Lake nickel property 60km north of Voisey's Bay deposit
Friday June 22, 8:30 am ET
http://biz.yahoo.com/cnw/070622/benton_resources_corp.html?.v=1
THUNDER BAY, ON, June 22 /CNW/ - Benton Resources Corp. ("Benton") is pleased to announce that the management of Benton, along with five prospectors and two Teck Cominco Limited ("Teck Cominco") geologists, has mobilized to the King Lake Nickel Project in Labrador. The team will evaluate large conductive zones identified from the airborne survey recently flown by Aeroquest Limited. The King Lake project is located 60 km north of the world class Voisey's Bay nickel deposit and is host to numerous, high-grade nickel-copper showings that have returned up to 6.8% copper and 1.9% nickel and is currently the focus of a joint venture between Benton and Teck Cominco. The airborne geophysical survey located several strong electromagnetic anomalies on the property including a large conductive zone which measures greater than 400 metres wide by 1000 metres long. This large conductive zone is coincident with a moderate magnetic anomaly, a rusty gossanous outcrop, and many nickel-copper-cobalt lake sediment anomalies similar to those in the vicinity of the Voisey's Bay deposit. The conductive zone is also spatially related to the outer rim of a large intrusion and east-west oriented structures, comparable to the environment noted at the Voisey's Bay deposit.
Benton is excited about the project and believes the conductors could represent possible nickel-rich and copper-rich sulphide zones. Ground follow-up, now underway, will concentrate on locating, mapping, prospecting, and sampling the conductive zones over the next few weeks. Results from the first phase exploration program will be released when they are received and will be followed up by ground geophysics and diamond drilling. Airborne survey maps which demonstrate the similarities between King Lake and Voisey's Bay can be found on Benton's website at www.bentonresources.ca.
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"
Stephen Stares, President
<<
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking statements in this release are made pursuant to the
safe harbor provisions of the Private Securities.
>>
For further information
Stephen Stares @ 3290 Willard Ave, Thunder Bay, Ont., P7E 6J7, Phone (807) 475-7474, Fax (807) 475-7200, www.bentonresources.ca
Investor relations: In Canada: First Canadian Capital, Daniel Boase, Phone (416) 742-5600, Fax (416) 742-6410
In U.S.A: The Windward Agency, Kelly Boatright, Phone (704) 588-8600
--------------------------------------------------------------------------------
Source: Benton Resources Corp.
Benton and Grandcru discover new uranium-rich zones within potential IOCG environment
Thursday June 14, 9:21 am ET
http://biz.yahoo.com/cnw/070614/benton_grandcru_resul.html?.v=1
THUNDER BAY, ON, June 14 /CNW/ - Benton Resources Corp. ("Benton") and joint venture partner Grandcru Resources Corp ("Grandcru") are pleased to announce additional assay results from new zones identified by prospecting on the South Sibley block, one of three blocks of claims that comprise the joint venture property in the Sibley Basin. The initial eight assays previously released (BTC PR May 24, 2007) returned encouraging grades up to 0.21% U(3)08. Since then new samples collected from a recent discovery of mineralized hematite breccia returned assays grading up to 1.01% U(3)08, 71.0 grams per tonne (gpt) silver, 0.20% copper, and 0.15% lead. These samples also contain elevated values for molybdenum (up to 440 ppm, background 12 ppm), arsenic (up to 139 ppm, background 5 ppm), and rare earth elements cerium (up to 466 ppm, background 60 ppm), and lanthanum (up to 221 ppm, background 12 ppm).
The coincident uranium-copper-silver assays in a hematite breccia host along with the enriched element values suggest a similar geochemical signature as noted in IOCG deposits around the world (Olympic Dam in Australia, Salobo in Brazil). The samples cover an area measuring approximately 200 metres by 250 metres and are proximal to the Goodmorning Lake fault zone. Preliminary data from the recently completed airborne geophysical survey (Geotech Ltd., VTEM) suggest the mineralization is associated with conductive electromagnetic (EM) responses.
Benton and Grandcru are pleased about the new discoveries and potential IOCG targets as they search for Athabasca-type uranium deposits under the Sibley sediments on the unconformity. The South Sibley property has excellent accessibility and lies only a few kilometers north of the Trans Canada Highway. Prospecting is ongoing and results from other highly radioactive zones are anticipated in the near future. A mechanical trenching program is currently being planned to follow up on other airborne EM responses.
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"
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVEIWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward- looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities.
For further information
Stephen Stares, 611 Montreal Street, Thunder Bay, Ontario, P7E 3P2, Phone (807) 475-7474, Fax (807) 475-7200, www.bentonresources.ca
Investor relations: In Canada: First Canadian Capital, Daniel Boase, Phone (416) 742-5600, Fax (416) 742-6410
In U.S.A: The Windward Agency, Kelly Boatright, Phone (704) 588-8600
--------------------------------------------------------------------------------
Source: Benton Resources Corp.
BENTON RESOURCES CORP. (BTC) Completes Airborne Survey on Goodchild Ni-Cu-PGE Project and Commences Drilling on Bermuda Cu-PGM Project
Tuesday June 12, 9:00 am ET
http://biz.yahoo.com/cnw/070612/benton_goodchild_svy.html?.v=1
THUNDER BAY, ON, June 12 /CNW/ - Benton Resources Corp. ("Benton" or "Company") is pleased to announce that the Company and its partner Stillwater Mining Company ("SWC") have completed a 957 line-kilometer airborne magnetic and electromagnetic (VTEM) survey on the Goodchild and South Goodchild Ni-Cu-PGE projects (collectively the "Goodchild Project"). A full interpretation of the data is expected soon.
The Goodchild Project is located approximately 15 kilometres north of Marathon, Ontario and is host to several nickel showings with grab samples assaying up to 12.6% nickel (obtained by Falconbridge/Xstrata personnel during late 2006 field season). The large ultramafic intrusion measures approximately 5km by 8km and has numerous untested airborne electromagnetic anomalies detected from a survey completed almost 20 years ago.
In addition to completion of the Goodchild airborne survey, Benton would like to announce that the company has commenced drilling on its 100% owned Bermuda Cu-PGM project located 10km north of the town of Marathon, Ontario. The Bermuda property lies directly along strike of Marathon PGM Corp's deposit which has a resource of 2.9 million ounces TPM (Total Precious Metals(equal sign) Platinum+Palladium+Gold) and 514 million pounds of copper (MAR PR Feb 17, 2007). Exploration at Bermuda has uncovered significant mineralization over a strike length of 17km and intercepts thus far have been very similar to those from the Marathon deposit. Drill results from the first phases of exploration include 1.74gpt TPM and 0.28 Cu over 29.3 metres (collared 50 metres north of the Marathon deposit), 1.16gpt TPM and 0.43 Cu over 41.5 metres and 3.11gpt TPM with 0.41% Cu over 11.6 metres (collared 450 metres north of the Marathon deposit) and 1.25gpt TPM and 0.58% Cu over 102m (collared 400m north on the Marathon deposit).
Benton's newest discovery at Bermuda sits approximately 14km west along strike of the Marathon deposit where trenching and drilling has recently identified a large copper and precious metal zone named Area 41. Drill intercepts from Area 41 have included up to 61.15 metres grading 1.23gpt TPM and 0.28% Cu. Benton will keep shareholders updated on developments on the Projects as exploration moves forward.
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"
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking statements in this release are made pursuant to the safe
harbor provisions of the Private Securities.
For further information
Stephen Stares @ 3290 Willard Ave, Thunder Bay, Ont., P7E 6J7, Phone (807)475-7474, Fax (807)475-7200, www.bentonresources.ca
--------------------------------------------------------------------------------
Source: Benton Resources Corp.
Benton Resources Corp. (BTC) identifies large conductive anomalies on King Lake Nickel Property 60km north of Voisey's Bay Deposit
Thursday June 7, 10:13 am ET
THUNDER BAY, ON, June 7 /CNW/ - Benton Resources Corp. ("Benton") and its partner Teck Cominco Limited ("Teck Cominco") have received a final report from Aeroquest Limited on the recently completed airborne survey at the King Lake Nickel project in Labrador, located 60 km north of the world class Voisey's Bay nickel deposit. The King Lake nickel project is host to numerous, high-grade nickel-copper showings that have returned up to 6.8% copper and 1.9% nickel. The airborne geophysical survey located several strong electromagnetic anomalies on the property including a large conductive zone which measures greater than 400 metres wide by 1000 metres long. This large conductive zone is coincident with a moderate magnetic anomaly, a rusty gossanous outcrop, and many nickel-copper-cobalt lake sediment anomalies similar to those in the vicinity of the Voisey's Bay deposit. The conductive zone is also spatially related to the outer rim of a large intrusion and east-west oriented structures, comparable to the environment noted at the Voisey's Bay deposit.
Benton is excited about the results and believes the conductors could represent possible nickel-rich and copper-rich sulphide zones. Ground follow-up efforts are scheduled to begin in mid to late June. Airborne survey maps which demonstrate the similarities between King Lake and Voisey's Bay can be found on Benton's website at http://www.bentonresources.ca/.
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"
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities.
For further information
Stephen Stares @ 3290 Willard Ave, Thunder Bay, Ont., P7E 6J7, Phone (807) 475-7474, Fax (807) 475-7200, www.bentonresources.ca
Investor relations: In Canada: First Canadian Capital, Daniel Boase, Phone (416) 742-5600, Fax (416) 742-6410, In U.S.A: The Windward Agency, Kelly Boatright, Phone (704) 588-8600
--------------------------------------------------------------------------------
Source: Benton Resources Corp.
http://biz.yahoo.com/cnw/070607/benton_res_king_lake.html?.v=1
Benton and Grandcru receive uranium results from the first of several new radioactive zones at Sibley Basin
Thursday May 24, 11:26 am ET
THUNDER BAY, ON, May 24 /CNW/ - Benton Resources Corp. ("Benton") and its joint venture partner Grandcru Resources Corp ("Grandcru") are pleased to announce assay results from the first of several new radioactive zones discovered by initial recent prospecting efforts on the South Sibley block of claims. Assays from the first eight grab samples collected from the area demonstrate very encouraging results returning up to 0.21% U(3)0(8) (4.2 pounds per ton). This new zone is located approximately 350 kilometres north east of the Goodmorning Lake fault and can be traced for more than 200 meters along strike. Benton and Grandcru are extremely excited about the new discoveries as the project has excellent road accessibility and lies only a few kilometers north of the Trans Canada Highway and power lines. Prospecting is ongoing and results from other highly radioactive zone are anticipated within the next few weeks.
In addition to the discovery of new uranium showings an airborne survey covering approximately 580-line kilometres (50 square kilometres) has been completed and is currently being interpreted. The airborne survey will help prioritize potential drill targets associated with the underlying unconformity in the search for Athabaskan-type uranium mineralization.
The South Sibley block is one of three blocks of claims in the Sibley Basin area near Thunder Bay, Ontario, that Benton has joint ventured to Grandcru. The Property hosts numerous historical uranium showings in the footwall Archean rocks associated with either quartz-hematite breccia in fault structures or pegmatitic dike swarms. The mineralization consists of uraninite in pegmatite and uraniferous flourapatite in the fault zone. Historical assays completed by the Ontario Geological Survey (OGS) in the 1980s returned values of up to 0.57% U(3)O(8) in grab samples associated with the quartz-hematite breccia. The occurrences are situated in granitic terrain with high background uranium levels. The granite continues eastward beneath the unconformity at the base of the Proterozoic-aged Sibley sediments located immediately adjacent to the uranium occurrences.
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"
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVEIWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities.
For further information
Stephen Stares, 3290 Willard Ave, Thunder Bay, Ontario, P7E 6J7, Phone (807) 475-7474, Fax (807) 475-7200, www.bentonresources.ca
Investor relations: In Canada: First Canadian Capital, Daniel Boase, Phone (416) 742-5600, Fax (416) 742-6410
In U.S.A: The Windward Agency, Kelly Boatright, Phone (704) 588-8600
--------------------------------------------------------------------------------
Source: Benton Resources Corp.
http://biz.yahoo.com/cnw/070524/benton_uranium_reslts.html?.v=1
Benton Resources Corp. (BTC-V) starts drilling on Flying Loon Gold Zone
Tuesday May 22, 1:53 pm ET
THUNDER BAY, ON, May 22 /CNW/ - Benton Resources Corp. ("Benton") is pleased to announce that it has started a 1000-metre, three-hole diamond drill program on the Flying Loon project located in northwestern Ontario. The drill program will follow up on the gold zone intersected in the final hole (FL-06-10) of last year's drill program. Hole 06-10 was designed to test an 800m long magnetic anomaly with a coincident weak electromagnetic response and intersected 4.3 grams per tonne gold over 1.6 metres. The true thickness is unknown at this time. The current drill program will test the mineralization in both strike directions and vertically below the zone, and is expected to be complete prior to the end of the month. At that time, the drill rig will be mobilized to Benton's Bermuda property where it will join a second rig to initiate a minimum 20,000-metre program.
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"
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities.
For further information
Stephen Stares, 3290 Willard Ave, Thunder Bay, Ont., P7E 6J7, Phone (807) 475-7474, Fax (807) 475-7200, www.bentonresources.ca
Investor relations: In Canada: First Canadian Capital, Daniel Boase Phone, (416) 742-5600, Fax (416) 742-6410
In U.S.A: The Windward Agency, Kelly Boatright, Phone (704) 588-8600
--------------------------------------------------------------------------------
Source: Benton Resources Corp.
http://biz.yahoo.com/cnw/070522/benton_res_drilling.html?.v=1
Benton options Goodmorning Lake uranium property and joint ventures to Grandcru
Friday May 11, 1:24 pm ET
THUNDER BAY, ON, May 11 /CNW/ - Benton Resources Corp. (the "Company") is pleased to announce that, subject to regulatory approval, the Company has entered into an option agreement (the "Agreement") with Ken Fenwick, Don Leishman, Karl Bjorkman, and Don Devereaux (collectively the "Underlying Owners") to purchase a 100% interest (the "Option") in six mining claims located near Innes Lake, Ontario known as the Goodmorning Lake property (the "Property"). The Option is subject to a 3% Net Smelter Royalty in favour of the Underlying Owners, 2% of which can be purchased for $500,000 for every 0.5% purchased (the "NSR").
Under the terms of the Agreement in order to exercise the Option, the Company will (i) pay the Underlying Owners of the Property a total of $90,000 cash over a three year period; (ii) issue, over a three year period, 160,000 common shares of the Company to the Underlying Owners of the Property (or if Benton assigns its rights under the Option to a third party, 160,000 shares of the third party); and (iii) spend a total of $360,000 on exploration expenditures on the Property over a four year period.
Subsequent to entering into the Agreement with the Underlying Owners, Benton entered into an option agreement (the "Grandcru Option Agreement") with Grandcru Resources Corporation ("Grandcru") whereby Grandcru has the option (the "Grandcru Option") to earn a 60% interest in Benton's interest in the Property.
Under the terms of the Grandcru Option Agreement, in order to exercise the Grandcru Option, Grandcru shall (i) pay the Company $8,650 and complete the cash, share and exploration expenditure requirements that Benton has under the Option, including the issuance of 160,000 shares of Grandcru in lieu of the 160,000 shares of Benton otherwise issuable.
Upon Grandcru exercising the Grandcru Option, the Company will have a 40% interest in the Property and Grandcru will have a 60% interest, subject to the NSR.
The Goodmorning Lake Property is contiguous to the western boundary of the South Sibley block, one of three blocks of claims in the Sibley Basin area near Thunder Bay, Ontario, and which Benton has previously optioned to Grandcru. The Property hosts numerous uranium showings in the footwall Archean rocks associated with either quartz-hematite breccia in fault structures or pegmatitic dike swarms. The mineralization consists of uraninite in pegmatite and uraniferous flourapatite in the fault zone. Historical assays completed by the Ontario Geological Survey (OGS) in the 1980s returned values of up to 0.57% U3O8 in grab samples associated with the quartz-hematite breccia. The occurrences are situated in granitic terrain with high background uranium levels. The granite continues eastward beneath the unconformity at the base of the Proterozoic-aged Sibley sediments located immediately adjacent to the uranium occurrences. As the new optioned property is contiguous with the South Sibley claim block of the Benton-Grandcru option/joint venture it will be covered by the upcoming airborne survey scheduled to start immediately.
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"
Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVEIWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities.
For further information
Stephen Stares, 3290 Willard Ave, Thunder Bay, Ontario, P7E 6J7, Phone (807) 475-7474, Fax (807) 475-7200, www.bentonresources.ca
Investor relations: In Canada: First Canadian Capital, Daniel Boase, Phone (416) 742-5600, Fax (416) 742-6410
In U.S.A: The Windward Agency, Kelly Boatright, Phone (704) 588-8600
--------------------------------------------------------------------------------
Source: Benton Resources Corp.
http://biz.yahoo.com/cnw/070511/benton_optn_agreement.html?.v=1
Benton provides correction to press release
Thursday April 26, 12:05 pm ET
THUNDER BAY, ON, April 26 /CNW/ - Benton Resources Corp. ("Benton" or the "Company") would like to provide a correction to the recent press release issued this morning. The gold (Au), platinum (Pt), and palladium (Pd) numbers for drill holes BO-07-23 to BO-07-25 inclusive stated the individual result in parts per billion (ppb) when they should have been stated in grams per tonne (gpt). However, the values for the total precious metals (TPM (equal sign) Au+Pt+Pd) were correctly listed in grams per tonne. The table below lists the corrected values for the three drill holes and Benton apologizes for any inconvenience this may have caused.
[continued in following link]
http://biz.yahoo.com/cnw/070426/benton_updt_correct_n.html?.v=1
Benton provides exploration update and appoints manager for Marathon Properties
Thursday April 26, 9:12 am ET
THUNDER BAY, ON, April 26 /CNW/ - Benton Resources Corp. ("Benton" or the "Company") would like to provide an update of the Company's ongoing exploration programs and announce the appointment of Mr. Paul Degagne as exploration manager for the Goodchild and Bermuda projects. Mr. Degagne brings more than 20 years experience in exploration and development to the Company and will be a tremendous asset to Benton as it moves those projects forward.
On the Bermuda Project, Benton has completed 4 diamond drill holes totaling 914.5 metres out of the planned 10,000-metre program. Drilling was cut short to allow the drill contractor to fulfill a previously committed contract and the remainder of the drill program will be restarted in May. The four holes were drilled eastward and collared approximately 500 metres north of the Marathon deposit where Benton had previously encountered large intercepts of copper and platinum group metals (PGM). The program was successful in identifying additional copper and PGM mineralization however three of the four holes encountered an unexpected syenite dyke where the main mineralized zone was anticipated, although they did intersect the upper mineralized gabbro. The mineralization likely continues to the east of the syenite intrusion and the zone still remains open to the north and south as well.
Benton continues to be excited about the Bermuda project as exploration to date has consistently shown potential for outlining a significant resource of copper and PGMs over very large areas of the property. South of the property boundary, Marathon PGM Corp. continues to intersect high-grade zones of platinum group metals as they move their project towards a full feasibility. Below are the results of all the drill holes completed to date from the east (Bamoos) and west (A41) extents of Benton's Bermuda property.
[continued in following link]
http://biz.yahoo.com/cnw/070426/benton_expl_update.html?.v=1
Stillwater Mining Company Announces Multi-year Investment in Benton Resources Corp. and Participation in the Goodchild Ni-Cu-PGM Project
Monday April 16, 7:36 pm ET
BILLINGS, Mont., April 16 /PRNewswire-FirstCall/ -- STILLWATER MINING COMPANY (NYSE: SWC - News) announced today that it has entered into a Binding Letter of Intent with Benton Resources Corp., under which Stillwater will invest in Benton through one or more private placements over a multi-year period. Stillwater will initially invest US$1.4 million and will have the option to invest additional amounts in future years. Through these investments, Stillwater will finance and have the option to participate in Benton's Goodchild Ni-Cu-PGM Project, located near Marathon, Ontario.
Benton, (TSX: BTC.V - News), headquartered in Thunder Bay, Ontario, is an exploration and development company with a diverse property portfolio of Canadian projects prospective for nickel, copper, platinum group elements, gold, and uranium.
Commenting on the agreement, Francis R. McAllister, Chairman and Chief Executive Officer of Stillwater said, "An initial US$1.4 million investment in Benton will provide Stillwater with a desired venture opportunity at the Goodchild Project, as well as an equity position in a respected and progressive young exploration organization with a growing portfolio of base and precious metal exploration projects. Benton has an experienced management, exploration and technical team well-positioned in regions which we believe have discovery potential."
Mr. McAllister continued, "Stillwater to date has primarily focused on the expansion and development of its existing PGM mining properties, and the growth of its PGM recycling business. While these internal efforts will continue, we are pursuing external mine growth opportunities, including both generative exploration projects such as those Benton conducts, as well as later stage development or operating properties."
The agreement is subject to review by the TSX Venture Exchange.
Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary producer of platinum group metals outside of South Africa and Russia. The Company's shares are traded on the New York Stock Exchange under the symbol SWC. Information on Stillwater Mining Company can be found at its website: www.stillwatermining.com.
Cautionary note on Forward-Looking Statements
Some statements contained in this news release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, therefore, involve uncertainties or risks that could cause actual results to differ materially. These statements may contain words such as "believes," "anticipates," "plans," "expects," "intends," "estimates" or similar expressions. These statements are not guarantees of the Company's future performance and are subject to risks, uncertainties and other important factors that could cause our actual performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Such statements include, but are not limited to, comments regarding expansion plans, costs, grade, production and recovery rates, permitting, financing needs, the terms of future credit facilities and capital expenditures, increases in processing capacity, cost reduction measures, safety, timing for engineering studies, and environmental permitting and compliance, litigation, labor matters and the palladium and platinum market. Additional information regarding factors, which could cause results to differ materially from management's expectations, is found in the section entitled "Risk Factors" in the Company's 2006 Annual Report on Form 10-K. The Company intends that the forward-looking statements contained herein be subject to the above-mentioned statutory safe harbors. Investors are cautioned not to rely on forward-looking statements. The Company disclaims any obligation to update forward-looking statements.
--------------------------------------------------------------------------------
Source: Stillwater Mining Company
http://biz.yahoo.com/prnews/070416/lam100.html?.v=70
Followers
|
2
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
64
|
Created
|
04/17/07
|
Type
|
Free
|
Moderators |
BENTON RESOURCES CORP.
Benton Resources Corp. is a mineral exploration company listed on the TSX Venture Exchange under the symbol BTC. Benton's aggressive and experienced management team is focused on base and precious group metal exploration. The Company's diverse property portfolio includes Canadian projects which are highly prospective for gold, uranium, platinum, palladium, Nickel and Copper.
COMPANY WEB PAGE
http://www.bentonresources.ca/
RAW MATERIALS CHARTS
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |