Benton Resources Corp. (TSX VENTURE: BTC) ("Benton") and Royal
Roads Corp. (TSX VENTURE: RRO) ("Royal Roads") announced results
from a recently completed two-hole diamond drilling program
designed to test a recently discovered copper-bearing sulphide zone
on the Long Range Joint Venture in central Newfoundland. Drill hole
LR-09-02 intersected 29.2 metres (37.9 metres core length) of
semi-massive to massive sulphides while testing a strong conductive
anomaly defined by VTEM airborne geophysical surveys completed by
Geotech Ltd. in 2008. This discovery has been named the Range Zone
and returned assays averaging 0.39% copper and 0.032% cobalt over
29.11 m (estimated true width). Copper and cobalt grades within the
zone range between 0.17% and 1.44% copper, and 0.007% and 0.127%
cobalt, while nickel, silver and gold assays were negligible. A
table of analysis for this interval is presented below.
----------------------------------------------------------------
----------------------------------------------------------------
From (m) To (m) Copper % Cobalt %
----------------------------------------------------------------
92.00 93.00 0.19 0.020
----------------------------------------------------------------
93.00 94.00 0.43 0.031
----------------------------------------------------------------
94.00 95.00 0.29 0.044
----------------------------------------------------------------
95.00 96.00 0.31 0.046
----------------------------------------------------------------
96.00 97.00 0.70 0.038
----------------------------------------------------------------
97.00 98.00 0.96 0.020
----------------------------------------------------------------
98.00 99.00 0.33 0.022
----------------------------------------------------------------
99.00 100.00 0.21 0.028
----------------------------------------------------------------
100.00 101.00 0.29 0.013
----------------------------------------------------------------
101.00 102.00 0.38 0.031
----------------------------------------------------------------
102.00 103.00 0.23 0.017
----------------------------------------------------------------
103.00 104.00 0.68 0.014
----------------------------------------------------------------
104.00 105.00 0.34 0.007
----------------------------------------------------------------
105.00 106.00 0.79 0.016
----------------------------------------------------------------
106.00 107.00 0.45 0.027
----------------------------------------------------------------
107.00 108.00 0.18 0.022
----------------------------------------------------------------
108.00 109.00 0.23 0.019
----------------------------------------------------------------
109.00 110.00 0.26 0.047
----------------------------------------------------------------
110.00 111.00 0.34 0.023
----------------------------------------------------------------
111.00 112.00 0.27 0.010
----------------------------------------------------------------
112.00 113.00 0.37 0.007
----------------------------------------------------------------
113.00 114.00 0.26 0.019
----------------------------------------------------------------
114.00 115.00 0.28 0.025
----------------------------------------------------------------
115.00 116.00 0.17 0.043
----------------------------------------------------------------
116.00 117.00 0.15 0.033
----------------------------------------------------------------
117.00 118.00 0.36 0.009
----------------------------------------------------------------
118.00 119.00 1.44 0.008
----------------------------------------------------------------
119.00 120.00 0.31 0.025
----------------------------------------------------------------
120.00 121.00 0.15 0.127
----------------------------------------------------------------
121.00 122.00 0.13 0.053
----------------------------------------------------------------
122.00 123.00 0.18 0.035
----------------------------------------------------------------
123.00 124.00 0.52 0.016
----------------------------------------------------------------
124.00 125.00 0.24 0.124
----------------------------------------------------------------
125.00 126.00 0.34 0.032
----------------------------------------------------------------
126.00 127.00 0.49 0.030
----------------------------------------------------------------
127.00 128.00 0.22 0.032
----------------------------------------------------------------
128.00 129.00 0.31 0.042
----------------------------------------------------------------
129.00 129.80 0.17 0.036
----------------------------------------------------------------
Mineralization is comprised of pyrrhotite with lesser pyrite and
chalcopyrite hosted by deformed mafic rocks of presumed Ordovician
to Silurian age. The discovery hole, LR-09-02, was the second of
two holes collared to test a copper showing and the associated VTEM
anomaly. The first hole, LR-09-01, was collared 80 metres northeast
of hole LR-09-02, and appears to have stopped short of the zone.
The associated VTEM anomaly is estimated to be at least 360 metres
long, dip steeply to the southeast, and plunge gently to the
southwest. The discovery is located 1.3 kilometres east of the
Puddle Pond Gabbro. Royal Roads and Benton recently announced
discovery of magmatic nickel-copper sulphides within trenched
bedrock exposures of Puddle Pond Gabbro 3.3 kilometres west
northwest of the Range Zone.
Sulphide abundances and textures are noted to vary over the
intercept's length, with total sulphide abundances visually
estimated to range from 20% to 30% between 91.9 and 99.5 metres
(5.9 m estimated true width), from 40% to 50% between 99.5 and
119.6 metres (15.5 m estimated true width), and from 75% to 90%
between 119.6 and 129.8 metres (7.9 metres estimated true width).
The zone's upper contact is marked by a 10 cm gouge zone (fault)
while the zone's lower contact is marked by a chilled diabase dyke.
Minor sulphide mineralization is also observed within other fine
grained mafic rocks below the main mineralized zone.
Royal Roads and Benton are very encouraged by the thickness of
the zone and the uniform distribution of the copper-cobalt
mineralization. A second phase drill program is presently in the
planning stage to test for zones of higher base metal
concentrations in what has the potential to be a large accumulation
of massive sulphides. The companies also believe this discovery
underscores the high prospectivity of this area, which remains one
of the least explored areas of Newfoundland and Labrador.
Update On Diamond Drilling Of Newly Discovered Nickel-Copper
Sulphide Zone
The companies have completed four drill holes designed to test
magmatic nickel-copper sulphides discovered within the 5 x 21
kilometre, Puddle Pond Gabbro (news release dated October 28,
2009). This mineralization, now referred to as the Portage Nickel
prospect, was discovered by bedrock trenching of a VTEM conductive
anomaly and returned assays of up to 2.70% nickel, 0.58% copper and
0.24% cobalt in grab samples, as well as sawed channel samples of
up to 2.18% nickel, 0.19% copper and 0.11% cobalt over 1.0 metre.
Drill cores have been logged and sampled and results will be
released upon receipt of assays.
New Staking
In light of recent positive results obtained on the project, the
companies staked an additional 650 claims (162 km2) in six
additional properties located less than 25 km from the original
property. Each additional property covers prospective gabbro
analogous to the Puddle Pond Gabbro. As a result, the Long Range
Joint Venture now covers more than almost 40,000 ha or 398.25
square kilometres.
Background
The Long Range project is a 50/50 joint venture between Royal
Roads and Benton with Royal Roads as the operator. The property is
subject to net smelter royalties of up to 2%, of which 1% can be
purchased for $1 million. Portions of the property are subject to
underlying option agreements requiring cash payments and share
issuances for the joint venture to earn a 100% interest. The
project was acquired to explore for magmatic nickel-copper sulphide
deposits within a previously unexplored area, recently recognized
to be prospective for magmatic sulphide deposits. The project is
well situated with ready access to a paved highway, power and port
facilities.
Qualified Person
Paul Moore, M.Sc., P.Geo., (NL), Royal Road's Vice President of
Exploration, is acting as Qualified Person in compliance with
National Instrument 43-101 with respect to this release and has
reviewed the contents for accuracy. The drilling program was
supervised by Paul Moore and David Butler, B.Sc. (Hons), P. Geo
(NL), Royal Roads' Exploration Manager. Logging, sampling and
assaying procedures were completed as per Royal Roads' QA/QC
protocols as described in Royal Roads' press release dated February
27th, 2007. All assays were completed by Eastern Analytical Limited
of Springdale, Newfoundland by the ICP (Inductively Coupled Plasma
Optical Emission Spectroscopy) method (ICP-11) and Ore Grade Assay
for Cu and Co by the atomic absorption (AA) method. Gold assays
were completed by standard 1/2 assay ton fire assay using the AA
method. Appropriate QA/QC protocols were applied, including
duplicate analyses and monitoring of assay results through the
insertion of control standards. Estimated true widths are based on
measured core angles and correlation with airborne geophysical
data.
About Royal Roads
Royal Roads is a resource company based in Halifax, Nova Scotia,
Canada and is primarily focused on exploring and developing mineral
properties in the famous historic Buchans mining camp in central
Newfoundland, Canada. Acadian Mining Corporation (ADA-TSX) owns
29.18% of Royal Roads.
About Benton Resources
Benton is a Canadian based junior with multiple joint ventures
and a diversified property portfolio in Gold, Nickel, Copper, and
Platinum group elements which can be view on the company's web site
post below. The company currently has approximately $15.0 million
in cash, owns a 32.2% interest in Coro Mining Corp (TSX: COP.TO),
holds an approximate 5% interest in Marathon PGM Corp (TSX: MAR.TO)
and retains a 2% Net Smelter Royalty on the northern portion of the
Marathon PGM deposit.
Forward Looking Statements
Certain information contained herein may constitute
forward-looking statements within the meaning of applicable
securities laws. Forward-looking statements may include estimates,
plans, expectations, opinions, forecasts, projections, guidance or
other statements that are not statements of fact. Although Royal
Roads and Benton (the "Companies") believe that the expectations
reflected in such forward-looking statements are reasonable, they
can give no assurance that such expectations will prove to have
been correct. The Companies caution that actual performance will be
affected by a number of factors, many of which are beyond their
control, and that future events and results may vary substantially
from what the Companies currently foresee. The Companies'
forward-looking statements are expressly qualified in their
entirety by this cautionary statement.
Investor Relations
BTC@agoracom.com
http://agoracom.com/ir/benton
AGORACOM Investor Relations
or Clair Calvert: @204-799-2086
INVESTOR COMMUNICATIONS:
Benton Resources Corp. utilizes the AGORACOM Investor Relations
System. AGORACOM has created a Benton Resources Investor Relations
Hub that allows both AGORACOM and management to communicate with
investors anytime and in real-time, thus ensuring the fastest and
most transparent method of information dissemination to our valued
shareholders. In addition, investors are able to amalgamate and
discuss information pertaining to Benton Resources in a monitored
discussion environment, as well as, ask questions and receive
answers pertaining to every facet of the company. Please click on
the AGORACOM logo in order to be taken directly into the Benton
Resources Investor Relations Hub.
http://www.agoracom.com/ir/benton.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Royal Roads Corp. Will Felderhof, President & CEO
(902) 444-3637 Halifax, Nova Scotia Royal Roads Corp. David
Felderhof, Vice-President (902) 444-3637 Halifax, Nova Scotia
www.royalroadscorp.ca Benton Resources Corp. Stephen Stares,
President & CEO (807) 475-7474 Thunder Bay, Ontario
www.bentonresources.ca
Wolf Resource Development Corporation (TSXV:RRO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Wolf Resource Development Corporation (TSXV:RRO)
Historical Stock Chart
From Jul 2023 to Jul 2024