Benton Resources Stock Price, News & Analysis

Benton Resources (TSXV: BEX) has successfully closed its non-brokered private placement financing, raising $1,025,923 through the issuance of 9,326,571 Charity Flow-through Units at $0.11 per unit. Each unit includes one flow-through common share and half a warrant, with warrants exercisable at $0.11 for 36 months. The company paid $33,172 in finders' fees and issued 473,880 finders' warrants. The proceeds will fund Canadian exploration expenses, qualifying as flow-through mining expenditures, which must be incurred by December 31, 2025, and will be renounced to subscribers effective December 31, 2024.

Benton Resources (TSXV: BEX) has completed a significant drill hole at the Great Burnt Main Deposit, intersecting 21.1 meters of semi-massive to massive sulphide with high-grade copper mineralization at the main zone, and 12.3 meters of stringer mineralization in the footwall zone. The drill hole GB-24-49 served as both an infill hole within the Main Deposit and tested a parallel conductor approximately 150 meters east of the main deposit. The footwall intersection at 393 meters revealed hard silicified mafic volcanics with stringer pyrrhotite and chalcopyrite. Drilling will pause for Christmas and resume in mid-January to test additional deep and parallel targets. Benton holds a 70% interest in the Great Burnt Copper-Gold Project, with Homeland Nickel holding the remaining 30%.

Benton Resources has resumed drilling at the Great Burnt Copper Deposit (GBCD) to test newly identified parallel and deep EM conductors. The company has extended the South Pond Gold-Copper Zone to 2.3 km in length, which remains open to expansion. Notable drilling results from 2023-2024 include intersections of up to 13.00m of 8.31% Cu and 26.87m of 7.18% Cu.

A new semi-massive sulphide zone has been discovered 1 km south of South Pond, and a further 15,000m drill program is planned for 2024-2025. The company's geological model suggests mineralized sequence is structurally thickened, potentially suitable for shallow open-pit mining methods.

Benton Resources has announced a new gold discovery at its Dominion Lake Project. The newly discovered Rickirb Zone features a 50m wide sheared zone with a >12.0m wide quartz-flooded area, traced for approximately 120m. Sampling revealed grades up to 4.6 g/t gold, with 7 out of 30 grab samples grading >0.5 g/t Au.

The company has also executed an option agreement with Herbert Froude to acquire additional mineral licenses. The expanded land package now surrounds two VMS deposits: Daniel's Pond and Bobby's Pond. Froude will retain a 2% NSR, with Benton having the option to buy back 1% for $500,000.

Benton Resources has identified a deep electro-magnetic anomaly below the Great Burnt Copper Deposit that could extend its strike length from 850m to 1,050m. The company reported significant drilling results including intersections of up to 13.00m of 8.31% Cu and 26.87m of 7.18% Cu. At the South Pond Gold Zone, drilling has extended gold mineralization to over 1.7km strike length, with highlights including 19.75m grading 1.42g/t Au. Additionally, a large nickel anomaly has been identified, with rock samples grading between 0.13% to 0.23% Ni. The company plans a further 15,000m drill program for 2024-2025.

Benton Resources (TSXV: BEX) announces plans for a shareholder vote on January 8, 2025, to approve the spin-out of approximately 2 million shares of Vinland Lithium. Vinland, which holds the Killick lithium project, is currently owned by Benton (40%), Sokoman Minerals (40%), and Piedmont Lithium (20%). Following approval, the TSX Venture Exchange has conditionally agreed to list Vinland's approximately 10 million shares. The expected distribution ratio is about 50 Vinland shares per 5,000 Benton shares, with a minimum holding requirement of 5,000 Benton shares to receive the distribution.

Benton Resources has extended the South Pond Gold Zone at its Great Burnt Copper-Gold project by 600 meters south with significant drilling results. Notable intercepts include 1.48g/t gold over 24.00m in SP-24-09 and two zones in SP-24-10 yielding 1.04g/t Au over 20.00m and 1.54g/t Au over 25.00m. The company has completed 30 diamond drill holes totaling 3,380m, with all holes intersecting significant mineralization. The exploration model suggests a structurally thickened mineralized sequence that may be suitable for shallow open-pit mining methods. Benton holds a 70% interest in the project, with Homeland Nickel holding the remaining 30%.

Benton Resources Inc. (TSXV: BEX) has announced significant gold intersections from its drilling program at the South Pond Gold Zone (SPGZ) in Newfoundland. Notable results include 74.20 m of 1.43g/t Gold in Hole SP-24-07 and 43.75 m of 1.62g/t Gold in Hole SP-24-03. The SPGZ remains open in all directions, with 23 drill holes completed totaling 3,183 m.

The company has developed a new geological model suggesting a structurally thickened mineralized sequence near the surface, potentially suitable for open-pit mining. All 22 holes drilled along the 2.5 km mineralized magnetic horizon have intersected significant mineralization.

At the Great Burnt Copper Deposit, Benton completed a 200 m step-out hole and is planning further exploration. The company has earned a 70% interest in the Great Burnt Copper-Gold Project, with Homeland Nickel holding the remaining 30%.

Benton Resources Inc. (TSXV: BEX) reports encouraging drill results from Clean Air Metals Inc.'s Thunder Bay North project. Benton holds approximately 24.6 million shares of Clean Air and retains a 0.5% net smelter return royalty on parts of the project. Highlights include:

- 51.79m of 4.92 g/t Pt, 4.66 g/t Pd, 1.07% Cu, and 0.55% Ni in hole CL24-001
- 31.40m of 4.22 g/t Pt, 4.04 g/t Pd, 0.95% Cu, and 0.56% Ni in hole CL24-003

Clean Air Metals is focusing on advancing the Thunder Bay North project, targeting near-surface high-grade zones. The company is considering moving to advanced exploration, including a potential bulk sample extraction from the Bridge zone at the Current deposit.

Benton also provides an update on its Great Burnt project, with Phase 4 diamond drilling underway and surface exploration ongoing. The company has granted 3.75 million stock options to various stakeholders at $0.12 per share for five years.