Benton Resources finds vanadium at Sally Lake
EDIT: Those Iron percentages aren't too bad either.
Benton Resources Corp (TSX-V:BTC)
Shares Issued 13,394,568
Last Close 6/7/2005 $0.28
Wednesday June 08 2005 - News Release
Mr. Stephen Stares reports
BENTON RESOURCES CORP (BTC) GETS FURTHER ENCOURAGING RESULTS FROM BERMUDA PROJECT
Benton Resources Corp. has received the base-metal and whole-rock assays for the sampling program conducted on the Sally Lake deposit. Recent sampling reported by the company averaged 2.2 grams per tonne Pt plus Pd plus Au from 12 grab samples. Base-metal and whole-rock assays for these 12 samples have been received with encouraging results of Cu, Ag, Co, Ni, Fe, Ti and V. Of particular interest is the grade of vanadium (V2O5) of up to 0.9 per cent, or 18 pounds per ton. Recently, V205 has been selling for over $20 per pound, up from $3. Given the economic growth and the large demand for iron in China and other countries, vanadium prices are predicted to remain high in the future. Vanadium is used in iron to make it stronger and less corrosive. The average for the 12 samples taken on the Sally Lake deposit assayed 0.54 per cent V2O5, or 10.9 pounds per ton.
The Bermuda property is host to two historical resource estimates: the Sally Lake deposit containing a historical resource of 60 million tons grading 0.2 per cent Cu, 5 per cent Ti, 27 per cent Fe and 5 per cent P, and the Wullie Lake deposit which has 32 million tons grading 0.3 per cent Cu, 2.48 per cent Ti, 23 per cent Fe and 0.02 per cent Ni. The previous operator, Redstone Resources Inc., estimated the resources in 1991 using historical diamond-drill information completed in the 1950s and 1960s by Lakehead Mines Ltd. and filed in the Ontario government assessment archives, Ministry of Northern Development and Mines branch (MNDM). The reader should be cautioned that the resource estimates are historical in nature, have not been verified by the issuer's qualified person and should not be relied upon.
The following table is a list of grab samples from the Sally Lake deposit:
SALLY LAKE GRAB SAMPLE RESULTS
Au Pt Pd Ag Co Cu
Sample ppb ppb ppb ppm ppm ppm
710555 90 237 1,773 4 164 913
710556 94 475 1,265 4 208 295
710557 52 422 970 4 211 349
710558 98 529 1,564 5 220 406
710559 92 474 1,257 5 197 525
710560 83 272 1,137 4 163 920
710561 71 228 1,150 5 182 654
710562 123 869 3,046 5 198 663
710563 131 238 915 5 212 857
710564 221 621 2,805 6 230 615
710565 138 355 734 4 206 771
710566 183 1,730 2,089 8 64 1,2076
Ni Cr Fe2O3 V2O5 TiO2
Sample ppm ppm % % %
710555 372 2,507 59.38 0.45 9.32
710556 435 1,756 70.48 0.63 11.76
710557 416 2,222 64.45 0.45 9.50
710558 439 2,489 64.73 0.63 9.87
710559 429 2,091 63.19 0.47 10.00
710560 439 2,015 63.98 0.68 10.12
710561 437 5,340 71.34 0.79 12.09
710562 472 2,661 72.46 0.72 12.50
710563 511 5,234 62.23 0.42 9.21
710564 505 4,646 76.22 0.90 13.18
710565 451 4,297 56.17 0.38 7.74
710566 133 100 27.51 0.03 1.99
ppm = parts per million
ppb = parts per billion
Clinton Barr, PGeo, VP, exploration, Benton Resources, is the qualified person responsible for this release.
© 2005 Canjex Publishing Ltd.
