Vancouver – Newly-listed Benton Resources (BTC-V) has hit thick intersections of copper at its Bermuda property located near Marathon in northern Ontario.
Two drill holes, 8 and 9, intersected 57 metres of 0.36% copper and 65 metres of 0.67% copper respectively in a basal peridotite. Mineralization shows increasing sulphide content with depth, grading from disseminated to semi-massive net textured. Anomalous platinum group metals (PGMs), cobalt and silver were also observed.
Benton’s drilling targeted a major flexure anomaly in the magnetic geophysics coincident with a one-km long electromagnetic conductor. The flexure in the magnetic anomaly correlates with a model applied in the Sudbury Basin, where exploration has targeted structural embayments for copper-nickel-PGM mineralization.
Benton Resources president Stephen Stares reviewed the implications of the discovery, “this is the first time a peridotite has been seen in the Coldwell, nowhere in the complex have we found net textured sulphides carrying significant copper, PGMs and silver.”
The company’s Bermuda project ties onto and is along strike to Marathon PGM’s (MAR-V) namesake deposit, on the eastern border of the of the Coldwell complex, which hosts measured and indicated resources of 23 million tonnes grading 1.4 grams palladium per tonne, 0.3 gram platinum per tonne and 0.4% copper.
Benton has expanded its land position along the northeastern contact of the Coldwell complex, now covering about 17 km strike of the Eastern Gabbro unit. A 5,000-metre drill program is planned for the upcoming season to redefine the Sally Lake deposit and further test the Skipper Lake and Bamoos zones.
The company also recently acquired a uranium project in the Nipigon Basin and a copper-nickel project in central Newfoundland.
With 13.5 million shares outstanding, Benton posts a $3.8-million market capitalization at its recent trading level of 28 per share.
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