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Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is pleased to share results obtained by Clean Air Metals Inc. (TSXV: AIR) (FSE: CKU) (OTCQB: CLRMF) ("Clean Air Metals" or the "Company") from recent drilling completed at the Escape Lake project, under Option from Benton. Clean Air Metals can earn up to 100% of the Escape Lake project and Benton will retain a 0.5% NSR on the property.
Hole ELR21-077 intersected 76.6m grading 5.67g/t Palladium Equivalents (PdEq) composed of 1.63g/t Platinum (Pt), 2.14g/t Palladium (Pd), 0.81% Copper (Cu), 0.41% Nickel (Ni) from 345.0m-421.6m downhole including 21.0m grading 9.98g/t PdEq composed of 2.97 g/t Platinum (Pt), 3.93g/t Palladium (Pd), 1.41% Copper (Cu), 0.68% Nickel (Ni) from 392.0m-413.0m downhole.
The Escape Lake Deposit has been Clean Air Metals' focus for the majority of the drilling over the past 14 months. Since the maiden resource published in January 2021 of 505,369 ounces at 3.67 g/t PdEq in 4.28 million tonnes, the Clean Air Metals team has successfully expanded the size of the Escape South High Grade Zone and demonstrated approximately 700m of mineralization along trend. Hole ELR21-077 with its significant thickness and grade appears to further expand the edge of the Escape Lake High Grade Zone and demonstrates potential contribution of scale of the Escape Lake Deposit to the overall Thunder Bay North Project. An updated mineral resource for the Escape Lake Deposit is currently planned for Q1 2022.
Full details on the recent drilling, including results from the adjacent Current Lake Deposit, can be found on the Clean Air Metals website:
https://www.cleanairmetals.ca/news-media/news-releases/clean-air-metals-reports-new-drill-results-from-bo-122532/
Equity Holdings
Benton continues to be very encouraged by the progress made by Clean Air Metals Inc. (TSXV: AIR) ("Clean Air"), in which Benton holds 24.6 million shares. Clean Air has multiple drill rigs operating on the Thunder Bay North and Escape Lake Copper-Nickel-PGM projects and has released excellent drill results from its ongoing drill campaign. Benton looks forward to receiving ongoing encouraging drill results and future project advancement.
Benton also holds 3,940,000 shares of Quadro Resources Ltd, which is advancing various projects in Newfoundland and Ontario. Additionally, Benton holds 3.6 million shares of St. Anthony Gold Corp. (formerly Maxtech Ventures Inc.). St. Anthony Gold has an Option and Joint Venture agreement on Benton's Panama Lake gold project in the Red Lake mining region. Further, Benton holds 1.0 million shares of Sokoman Minerals Corp. which continues to release excellent drill results from its Moosehead Project in Newfoundland, and 2.63million shares of Metallica Metals advancing Benton's Saganaga (Starr) Gold project. Benton also has two NW Ontario projects optioned to Rio Tinto Exploration Canada (the Bark Lake and West Baril Lake Copper-Nickel PGE projects).
QP
Nathan Sims (P.Geo.), Senior Exploration Manager for Benton Resources Inc., the 'Qualified Person' under National Instrument 43-101, has approved the scientific and technical disclosure in this news release and prepared or supervised its preparation.
On behalf of the Board of Directors of Benton Resources Inc.,
"Stephen Stares"
Stephen Stares, President
About Benton Resources Inc.
Benton Resources Inc. is a well-funded mineral exploration company listed on the TSX Venture Exchange under the symbol BEX. Following a project generation business model, Benton has a diversified, highly-prospective property portfolio in Gold, Silver, Nickel, Copper, and Platinum Group Elements and currently holds large equity positions in other mining companies that are advancing high-quality assets. Whenever possible, BEX retains Net Smelter Royalties (NSR) for potential long-term cash flow.
Benton also recently entered into a 50/50 strategic alliance with Sokoman Minerals through three large-scale joint venture properties including Grey River, Golden Hope and Kepenkeck in Newfoundland that are now being explored.
Parties interested in seeking more information about properties available for option can contact Mr. Stares at the number below.
For further information, please contact:
Stephen Stares, President & CEO
Phone: 807-475-7474
Email:sstares@bentonresources.ca
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x251
Email:cathy@chfir.com
Website: www.bentonresources.ca
Twitter: @BentonResources
Facebook: @BentonResourcesBEX
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95737
Figure 1. Location of the Mt Oxide Project, within context of Mt Isa Inlier.
Figure 1. Locality map illustrating the position of Cobre’s project areas. Green licenses are relevant tothe Proposed Transaction, dark grey licenses will be run independently by Cobre.