THUNDER BAY, ONTARIO--(Nov. 11, 2009) - Benton Resources Corp. (TSX VENTURE:BTC), ("Benton" or "the Company") is pleased to announce that the company has completed its due diligence and is satisfied that the property has significant merit and has signed the final agreement for the project.
Benton can acquire from Deloro Mining and Smelting a 100% interest in two mining patents and one mining claim located 5 km southeast of the city of Timmins and 900 meters west and on strike of the 930,000 ounce past producing Delnite mine. The claims are situated along the prolific Dome-Aunor-Delnite mine trend that has historically produced in excess of 20 million ounces of gold.
The property is host to at least three separate bands of quartz-ankerite veining hosted within a package of strong carbonate altered and sheared mafic volcanic rocks containing pyrite and trace chalcopyrite. Records indicate that the property has not been worked since the late 1930's and there is no record of any diamond drilling on the claims. Known historic work includes the sinking of a 125 foot shaft on the south quartz vein system and trenching and pitting of quartz veins on the south central vein systems. Reports dated 1913 (Dobbs) and 1939 (B.S.W. Buffam) report grab samples from the south zone returning up to 0.75 ounces per ton (opt) gold (Au) over an average thickness of 4 feet and values of up to 2.3 opt Au from the central vein. A third quartz vein system hosted within a strong carbonate altered shear zone cuts through the northern part of the property and is believed to represent the west extension of the Delnite mine horizon. All information was obtained from MNDM assessment files and is presented for information purposes only and that the historical data and should not be relied upon.
A property visit by representatives from Benton has confirmed the existence of multiple quartz veining hosted with sulphide-rich carbonate altered and sheared mafic volcanics. Visible gold was noted in place within the quartz veins and also in blast rock samples located near the old shaft.
A trenching program is currently underway to expose the areas of quartz veining. In addition, a grid is currently being established on the claims and mapping and geophysical surveys will be completed over the next few weeks. This information will help guide a diamond drilling program scheduled for later this year.
A map and pictures are posted on the company's website showing the location and pictures of some of the pits. Under the terms of the agreement the company must pay $60,000 in cash and 400,000 shares of the company on signing and a further 1.1 million shares within 24 months.
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 $15.3 million in cash, owns approximately 33% interest in Coro Mining Corp (TSX:COP), holds an approximate 5% interest in Marathon PGM Corp (TSX:MAR) and retains a 2% Net Smelter Royalty on the northern portion of the Marathon PGM deposit.
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.
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