- Benton Resources (TSXV:BEX) has revealed results from its South Pond Gold Zone in south-central Newfoundland, leading to significant expansion
- The expansion is based on initial results from the first four holes from the drilling program
- Results expand the extent of the South Pond Gold zone which remains open in all directions
- Shares of Benton Resources are down 12.50 per cent to C$0.105 as of 11:29 am ET
Benton Resources (TSXV:BEX) has revealed results from its South Pond Gold Zone in south-central Newfoundland, leading to significant expansion.
The company stated in a news release that the expansion is based on initial results from the first four holes from the drilling program.
Results from the program expand the extent of the South Pond Gold zone, which remains open in all directions and notably includes significant drill intercepts from hole SP-24-07m that intersected 74.20 metres of 1.43g/t gold (Au); and hole SP-24-03 encountered 43.75 m grading 1.62g/t Au.
To date, Benton has completed 23 drill holes in its ongoing program at South Pond totalling 3,183 metres.
To complete work at the South Pond Gold Zone, the company has developed an exploration model to guide active work and has included field geological mapping and ground magnetics surveying. A new geological and geophysical model suggests that the mineralized sequence is structurally thickened because of folding and/or faulting.
This has resulted in a near-surface zone of thicker mineralization that may be amenable to shallow open-pit mining methods.
With its headquarters out of Thunder Bay, Ontario, Benton Resources has a highly prospective property portfolio.
The company holds a number of large equity positions in other mining companies and has entered into a 50/50 strategic alliance with Sokoman Minerals (TSXV: SIC ) through three large-scale joint venture properties in Newfoundland.
Shares of Benton Resources are down 12.50 per cent to C$0.105 as of 11:29 am ET.
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