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Wednesday, Jun 12, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Copper

Benton Resources recent drill campaign expands copper-gold deposit in Newfoundland

This program was designed to define the up dip and down dip limits through infill drilling

Benton Resources recent drill campaign expands copper-gold deposit in Newfoundland
Two significant movers for Benton. The Great Burnt Copper & Gold and spin-out Vinland Lithium Inc. This deal was to collectively work a project in newfoundland in 2023. Image via Benton Resources.

Benton Resources Inc. (TSXV: BEX) expanded the Great Burnt copper-gold deposit in south-central Newfoundland another 50 meters down plunge and along strike to the south.

The company announced on Tuesday that it had completed drilling 12 holes for over 2,630 meters in its Phase 2 drill program.

This program was designed to define the up dip and down dip limits through infill drilling, as well as to expand the mineralization down plunge and along strike. During drilling, the company intersected multiple zones of stringer, semi-massive, and massive sulphides ranging from 0.5 meters to 17.75 meters.

Hole GB-24-34 encountered a 4.1-meter zone of massive sulphides.  This is also the deepest and southernmost drill hole ever completed in the deposit. Currently, the company is conducting an undercut hole to further test the down dip extension of this intercept.

“This new drill intercept to the south indicates the significant potential that lies to the south and down plunge at Great Burnt,” President and CEO Stephen Stares said.

“We are very excited that our team has expanded and proven that the VMS system is wide open and look forward to receiving assays results and continued success in this large copper-gold system.”

Benton Resources’ Great Burnt Project in central Newfoundland contains a Mineral Resource estimate of 667,000 tonnes at 3.21 per cent Cu  Indicated and 482,000 tonnes at 2.35 percent Cu Inferred, alongside gold.

This project benefits from an excellent geological setting, spanning 25 kilometers of strike and encompassing six known Cu-Au-Ag (copper-gold-silver) zones over 15 kilometers.  All of these are open for expansion.

Read more: Calibre Mining reports bonanza grade drill results at Nicaragua’s Limon mine

Read more: Calibre Mining closes top tier gold merger with Marathon Gold

Newfoundland and Labrador is a strong polymetallic jurisdiction

In Newfoundland, mining activities have historically centered around the extraction of nickel, copper, and gold.

The Voisey’s Bay nickel deposit is one of the largest in Canada. It’s located in northern Labrador and owned by the Canadian subsidiary of Brazilian base metals firm, Vale S.A (NYSE: VALE).

Gold mining, while less extensive compared to other regions of Canada, has seen a resurgence in recent years as exploration has led to the discovery of promising gold deposits.

New Found Gold (TSX: NFG) (NYSE: NFGC) is actively advancing its 100% owned Queensway gold project, spanning 1,662 square kilometers. The project is situated on the Trans-Canada highway, just 15 kilometers west of Gander, Newfoundland.

Meanwhile, Calibre Mining (TSX: CXB) (OTCQB: CXBMF) entered the Newfoundland and Labrador mining scene quite recently.  It closed an acquisition with Marathon Gold that brought them access to the top tier gold mining property, Valentine gold mine.

Additionally, although copper mining hasn’t been as widespread as in previous decades, it’s still a prominent industry in Newfoundland. The province has a number of past operations scattered across various parts of the province.

Benton Resources’ Great Burnt project aside, York Harbour Metals. (TSXV: YORK) (OTC: YORKF) (FRA: 5DEO) owns and operates the York Harbour copper-zinc project.  The project is located 27 kms west of Corner Brook, Newfoundland, and spans a 4,725-hectare expanded license area (from historical 650 hectares) consisting of 5 licenses and 156 claims.

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 Calibre Mining is a sponsor of Mugglehead news coverage

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