THUNDER BAY – Benton Resources Inc. are providing an exploration update regarding its 100% owned Cape Ray Gold project located on the south west coast of Newfoundland. Benton currently has exploration ongoing on the project in efforts to extend the known deposits in addition to identifying new targets.
Detailed modeling of the 51 Zone suggests that the bulk of the mineral resource lies within 65 meters of surface in a shallow plunging mineralized shoot.
Benton is currently studying the economics of a shallow open pit mine to exploit this resource and to produce, on site a saleable metal concentrate by way of dense media separation (“DMS”) and/or gravity concentration. The production of a concentrate through DMS would eliminate the need for a capital intensive conventional mill and would substantially lower production costs thus making a small scale mining operation potentially economic.
Benton Resources recently collected a 150 kilogram mini bulk sample from a trench over the zone and has contracted Met-Solve Laboratories in Langley, B.C. to complete the metallurgical testing to determine the recoverability and value of the concentrate through the DMS process. As a check, nine samples totaling 20 kg of this same material was sent to Eastern Analytical labs in Springdale, NF for assaying. The average grade of the 9 samples returned 8.62 gpt gold, 33.34 gpt silver, 1.73% lead, 0.72% zinc and 0.22% copper. Given the exceptional grades of the trench sample and of the historic resource, the shallow depth of mineralization and the potential to create an on-site, low cost, high value concentrate, the Company believes the 51 deposit may have to potential to be a viable stand-alone profitable operation.
The Company will update the shareholders after the results are received for the mini bulk sample.
Highlights for the Cape Ray Deposits are as follows:
- 51 Deposit — Inferred resources using a 2.5gpt gold cut-off of 530,000 tonnes grading 6.10 g/t Au and 15.86 g/t Ag containing 103,943 ounces of gold and 270,253 ounces of silver
- Windowglass Hill – Inferred resources using a 0.5gpt gold cut-off of 1,810,000 tonnes grading 1.77 g/t Au and 11.28 g/t Ag containing 103,001 ounces of gold and 656,415 ounces of silver
- Opportunities exist to upgrade and expand the mineral resources of both the 51 and Windowglass Hill deposits.
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