Benton Stakes Hele Intrusion and Updates Shareholders on Regency/Clean Air Metals Transaction
Thunder Bay, Ontario--(Newsfile Corp. - March 31, 2020) - Benton Resources Inc. (TSXV: BEX) ('Benton' or 'the Company') is pleased to announce that it has acquired a 100% interest in a project covering the Hele Intrusive complex in Northwestern Ontario, Canada, by staking 4 multi-cell mining claims totaling 1462 hectares. The new claims cover historical drill holes and geological mapping which identified a Midcontinent Rift-style ('MCR') intrusive complex as is located approximately 30km northeast of the TBN and Escape Lake PGE deposits. The Hele intrusion is a zoned, picritic intrusion of peridotite and olivine-gabbro which are two lithologies analogous with PGE deposits associated with the MCR, including the high grade TBN and Escape Lake deposits which Benton has optioned to Regency Gold Corp. (TSXV: RAU) ("Regency").
Regency is now being led by mining executives Abraham Drost (CEO) and Jim Gallagher (Executive Chairman), the latter being the former CEO of North American Palladium which recently sold to Impala Platinum for C$1 Billion. Upon trading resumption, Benton will hold 24.6M shares of Regency. Regency has announced it will change its Name to Clean Air Metals Inc and will trade under the symbol TSX-V:AIR upon TSX approval which Regency believes will happen within the coming weeks. Regency has also closed a $15.0 million financing which includes $2,000,000 from Eric Sprott representing 10,000,000 Unit Shares and 5,000,000 Warrants, representing 7.99% of the issued and outstanding common shares of Regency on a non-diluted basis and 11.53% of the issued and outstanding common shares of Regency on a partially-diluted basis, assuming the exercise of Mr. Sprott's Warrants. (See Regency PR Feb 11, 2020). Benton looks forward to Regency resuming active trading as well as the execution of their team's strategy to advance the Thunder Bay North and Escape Lake deposits.
Thunder Bay North (TBN) Property includes high-grade intercepts of 46.65m @ 10.1g/t Platinum+Palladium+Gold (5.267g/t Pt + 4.555g/t Pd + 0.324g/t Au) with 1.62% Copper+Nickel (1.154% Cu + 0.465% Ni), incl. 13.0 m @ 33.2 g/t Pt+Pd+Au (17.305g/t Pt + 14.817g/t Pd + 1.061g/t Au) and 4.91% Cu+Ni (3.755% Cu + 1.308g/t Ni), incl. a spectacular intercept of 2.6 m @ 97.9 g/t Pt+Pd+Au (52.769g/t Pt + 41.538g/t Pd + 3.630g/t Au) and 14.9% Cu+Ni (11.599% Cu + 3.289% Ni) in drill hole BL 10-197. Drilling highlights on the 220 hectare Escape Lake Property include 121.6 m @ 2.49 g/t Pt+Pd+Au (1.04g/t Pt + 1.37g/t Pd + 0.07g/t Au) and 0.86% Cu+Ni (0.52% Cu + 0.34% Ni), incl. 33.4 m of 7.28 g/t Pt+Pd+Au (3.01g/t Pt + 4.08g/t Pd + 0.19g/t Au) and 2.26% Cu+Ni (1.49% Cu + 0.77% Ni) in drill hole 12CL0009, and 162 m @ 1.42 g/t Pt+Pd+Au (0.61g/t Pt + 0.76g/t Pd + 0.06g/t Au) and 0.47% Cu+Ni (0.28% Cu + 0.19% Ni), incl. 40.67 m 4.5 g/t Pt+Pd+Au (1.92g/t Pt + 2.48g/t Pd + 0.18g/t Au) and 1.26% Cu+Ni (0.89% Cu + 0.36% Ni) in drill hole 11CL0005.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA's President has purchased 1.05 million shares of BEX in the open market. He intends to buy additional BEX shares prior to Clean Air Metals going public. Sometime after Clean Air Metals goes public he intends to sell his BEX shares for a profit. This message is meant for informational and educational purposes only and does not provide investment advice.