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Benton Resources Inc. (TSXV: BEX) is a mineral exploration company with a focus on advancing its high-grade Copper-Gold Great Burnt Project in central Newfoundland. The project has a diversified property portfolio that includes gold, silver, nickel, platinum group elements, lithium, and cesium assets. Benton also holds large equity positions in other mining companies. The recent Phase 3 exploration program aims to uncover the true potential of the project, targeting untested geophysical anomalies and expanding the known Cu-Au-Ag zones. With impressive drilling results and strategic acquisitions, Benton is well-positioned for success in the mining sector.
Benton Resources Inc. (TSXV: BEX) has successfully closed its brokered flow-through private placement financing, raising $1,146,411.75 in gross proceeds. The company issued 6,947,950 flow-through units, each comprising one flow-through common share and half a common share purchase warrant. The warrants are exercisable at $0.25 for one non-flow-through common share within a 2-year period.
The funds will be used for eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures. Haywood Securities Inc. led the financing, with Red Cloud Securities Inc. and Canaccord Genuity Corp. as part of the syndicate. Benton paid $80,249.00 in cash fees and issued 486,356 compensation options to the agents, exercisable at $0.165 per share for 2 years.
Benton Resources Inc. (TSXV: BEX) has completed its $2.5 million earn-in for a 70% interest in the Great Burnt Copper project in Newfoundland. The company has temporarily paused drilling while awaiting Homeland Nickel Inc.'s formal acceptance of expenditures and decision on future participation. Benton plans to continue aggressive exploration with 10,000-15,000 meters of additional drilling.
Recent Phase Three drill results have expanded the Great Burnt Deposit down plunge and along strike, with high-grade copper intersections and significant zinc, silver, cobalt, and gold content. Highlights include:
- GB-24-38: 5.00m at 1.68% Cu, including 1.00m at 3.26% Cu
- GB-24-39: 11.50m at 1.10% Cu, including 1.00m at 5.70% Cu
- GB-24-40: 5.70m at 2.34% Cu, including 1.00m at 4.52% Cu
The deposit remains open for expansion, with further assay results pending.
Benton Resources continues its Phase 3 diamond drill program at the Great Burnt Copper Deposit, successfully expanding the deposit approximately 150m down plunge and along strike to the south. Out of 10 holes drilled, 7 intersected massive sulphide. Preliminary gold assays from the South Pond area showed promising grades up to 9.91 gpt Au and 5.19 gpt Au, with more base metal results pending. Soil sampling identified a new 2 km gold anomaly. Historic and new geophysical data are being interpreted for further exploration.
Benton Resources announced an academic partnership for the Killick Lithium Project in Newfoundland. The project, which began on April 1, 2024, has been awarded $1.32 million in research grants over three years by NSERC. The research aims to understand the origin of lithium resources in the region. The collaboration involves St. Francis Xavier University and Memorial University, along with contributions from Sokoman Minerals, Piedmont Lithium, and the Geological Survey of Newfoundland and Labrador. The research will provide training opportunities for students in field methods and data collection. The project aligns with Canada's Critical Minerals Strategy, aimed at boosting the supply of critical minerals for the green and digital economy.
Benton Resources announced significant progress in its Phase 3 diamond drill program at the Great Burnt Copper Deposit, intersecting substantial sulphide mineralization. The drill holes GB 24-38 and GB 24-39 revealed copper-rich zones, with the latter cutting 9.00m of semi-massive/massive sulphides.
Additionally, trenching at South Pond has exposed promising mineralization, enhancing targets for the summer drilling campaign. The company also initiated regional prospecting and geochemical sampling to expand exploration. Previous drilling phases reported high copper grades, including 13.00m at 8.31% Cu and 26.87m at 7.18% Cu.
President and CEO Stephen Stares expressed optimism about the project's potential, highlighting its high-grade copper, gold, silver, and cobalt in a prime jurisdiction. Analytical protocols have been adhered to, ensuring accurate and reliable assay results.
Benton Resources has mobilized a field crew to its Great Burnt Copper-Gold Project in Newfoundland for regional exploration and a Phase 3 drill program starting late May. Benton has contracted a minimum 3,000m drill project with plans to expand based on success. The program includes geochemical sampling, trenching, geological mapping, and extensive drilling of regional targets. Previous drill results show high copper concentrations, such as 13.00m of 8.31% Cu in GB-23-02 and 26.87m of 7.18% Cu in GB-23-04. The company is well-funded for up to 15,000m of drilling. Benton's QA/QC protocols ensure the reliability of analysis through accredited labs.
Benton Resources Inc. has secured additional land packages at the Great Burnt Copper-Gold Project in Newfoundland through agreements with SSAF Inc. and individual prospector Mervin Quinlan. The acquisitions will enhance Benton's exploration efforts, with significant copper findings reported in recent drilling. Benton is also on track to acquire a 70% interest in the project from Spruce Ridge Resources Inc. and is set to commence an aggressive exploration season.
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