Benton Resources - CEO, Stephen Stares (right).
CEO, Stephen Stares (right).
Source: Benton Resources.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Benton Resources (BEX) has optioned the KM 67 Volcanic Massive Sulphide base metal and gold project
  • The all-stock deal is worth approximately C$90,000
  • The three individuals optioning the property are retaining a two-per-cent Net Smelter Return (NSR) royalty
  • The Vancouver-based company acquired the project after reviewing data compiled by the owners
  • Benton Resources is down 2.94 per cent, trading at $0.17 at 10:18 am EST

Benton Resources (BEX) has optioned the KM 67 Volcanic Massive Sulphide base metal and gold project.

The TSX Venture Exchange formally approved the acquisition.

The all-stock deal is worth approximately C$90,000.

The project is located in Newfoundalnd.

The three individuals optioning the property are retaining a two-per-cent Net Smelter Return (NSR) royalty.

Benton retains the right to re-purchase one per cent of the royalty for $1 million

The Vancouver-based company acquired the project after reviewing data compiled by the owners, demonstrating the prospective potential of VMS and gold presence.

Historical work on the project has identified large VMS boulders grading up to 37.8 per cent lead-zinc as well as others that assayed 13.56 per cent copper-lead-zinc.

The company will immediately apply for exploration work permits including a detailed Airborne Electromagnetic (AEM) and Magnetic survey to be followed by prospecting, mapping and diamond drilling.

Benton Resources is down 2.94 per cent, trading at $0.17 at 10:18 am EST.

More From The Market Herald

" Eastern Platinum (TSX:ELR) sign finance facility agreement with Investec Bank

Eastern Platinum (ELR) has signed a finance facility agreement with Investec Bank.

" Revival Gold Intersects Revival (TSXV:RVG) intersects more gold at Beartrack-Arnett

Revival Gold (RVG) released new results from its 2022 drilling program at the Beartrack-Arnett Gold Project.

" Buscando Resources (CSE:BRCO) announces private placement financing

Buscando Resources (BRCO) announced a non-brokered private placement for gross proceeds of $200,000.
The Market Herald Video

" Dundee Corporation (TSX:DC.A) closes privatization of Big River Gold

Dundee (DC.A) has closed its privatization of Big River Gold with Aura Minerals.