Freehold Royalties Ltd. press release
New area 41 Cu-PGE zone traced for more than 900 metres by diamond drilling
TSX - Toronto Stock Exchange · Oil · Natural Gas · Natural Gas Liquids · Potash · Canada
THUNDER BAY, ON, Jan. 4 /CNW/ - Benton Resources Corp. (the "Company") is pleased to announce that it has received the final assay results from the 2000-metre (m) diamond drill program on the west end of the Bermuda Property located near Marathon, Ontario. The first phase program consisted of 11 drill holes that tested a 900m-strike length of copper and platinum group metals' (Cu, PGM) mineralization known as Area 41. The mineralization remains open in all directions. In November the company released the first two holes, SL-06-01 and SL-06-02 that intersected 61.15m grading 1.23 gpt (grams per tonne) TPM (Total Precious Metals (equal sign) platinum+palladium+gold) with 0.28% copper and 54.8m grading 1.05gpt TPM with 0.20% copper respectively. It should be noted that SL-06-02 intersected mineralization from top to bottom that graded 0.48gpt TPM with 0.19% Cu over 202.85m (3.70-206.55m) before being lost at 206.55m. A 0.65m interval near the bottom consisting of semi-massive sulphide graded 0.73gpt TPM with 1.02% Cu as well as 0.13% nickel.
Significant results of the latest drill holes include 1.11gpt TPM over 20.5 metres in hole SL-06-09 and a high grade section in hole SL-06-07 that assayed 8.16gpt TPM over 1.5 metres. The results support the potential of Area 41 to host a significant resource of copper and precious metals. A second phase winter drill program is currently being planned to help define and extend the mineralization in this new area.
The assay results continue to illustrate that the palladium to platinum ratio is less than 2:1, suggesting the new area would potentially host mineralization with a higher value per tonne (within similar total precious metal grade) than other mineralized zones in the Coldwell intrusion which typically exhibit a 4:1 palladium: platinum ratio. All core samples were submitted to Accurassay Laboratories in Thunder Bay, Ontario.
A table of the holes from Area 41 is listed below: Hole ID From To Width Au Pt Pd TPM Cu (ppb) (ppb) (ppb) (g/t) (%) SL-06-01 4.05 130.00 125.95 58 211 360 0.63 0.16 SL-06-01 4.05 65.20 61.15 111 408 714 1.23 0.28 Incl 34.00 47.40 13.40 214 860 1622 2.70 0.33 SL-06-02 3.70 206.55 202.85 49 156 266 0.48 0.19 Incl 3.70 94.00 90.30 77 267 477 0.82 0.21 Incl 3.70 58.50 54.80 89 342 621 1.05 0.20 Incl 3.70 29.50 25.80 73 378 770 1.22 0.21 And 3.70 9.00 5.30 96 1061 1906 3.06 0.15 Incl 43.50 58.50 15.00 169 487 837 1.49 0.22 And 45.00 51.65 6.65 166 824 1490 2.48 0.18 SL-06-02 129.45 206.55 77.10 35 73 118 0.23 0.23 incl 203.70 204.35 0.65 89 168 473 0.73 1.02 SL-06-03 170.00 175.45 5.45 83 114 530 0.73 0.33 SL-06-04 51.50 140.00 88.50 30 73 107 0.21 0.08 incl 119.00 120.50 1.50 165 123 540 0.83 0.19 SL-06-05 58.00 67.50 9.50 11 260 257 0.53 0.04 incl 58.00 59.50 1.50 22 659 541 1.22 0.07 SL-06-05 99.00 100.60 1.60 79 214 361 0.65 0.08 SL-06-06 35.00 53.00 18.00 6 505 621 1.13 0.02 incl 38.00 44.00 6.00 11 689 912 1.61 0.02 and 47.00 51.50 4.50 8 679 769 1.46 0.01 SL-06-06 66.20 78.00 11.80 96 297 446 0.84 0.05 incl 67.50 72.00 4.50 111 410 628 1.15 0.04 SL-06-07 39.50 48.50 9.00 32 386 311 0.73 0.04 incl 42.50 45.50 3.00 38 645 580 1.26 0.05 SL-06-07 60.50 73.50 13.00 66 699 738 1.50 0.05 incl 63.50 67.85 4.35 77 1817 1842 3.74 0.04 incl 63.50 65.00 1.50 207 3665 4286 8.16 0.01 SL-06-07 93.00 94.50 1.50 125 317 427 0.87 0.11 SL-06-07 112.65 114.00 1.35 107 178 506 0.79 0.13 SL-06-08 43.00 67.20 24.20 92 302 453 0.85 0.09 incl 46.75 58.00 11.25 138 390 616 1.14 0.11 SL-06-08 82.00 88.00 6.00 89 235 423 0.75 0.23 incl 83.50 86.50 3.00 134 352 592 1.08 0.25 SL-06-08 84.95 88.00 3.05 99 277 436 0.81 0.20 SL-06-09 49.50 70.00 20.50 109 423 583 1.11 0.10 incl 56.00 61.65 5.65 49 925 1198 2.17 0.09 SL-06-09 92.00 96.05 4.05 133 357 500 0.99 0.18 SL-06-10 3.00 11.00 8.00 65 45 44 0.15 0.20 SL-06-10 48.00 55.50 7.50 35 249 314 0.60 0.02 incl 54.00 55.50 1.50 15 922 332 1.27 0.01 SL-06-10 67.50 82.30 14.80 30 31 50 0.11 0.15 SL-06-11 2.50 7.70 5.20 60 7 10 0.08 0.17
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"
Stephen Stares, President
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RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities.