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Benton Informed of Encouraging Drill Results From Forester Lake Joint Venture |
July 24, 2013
Thunder Bay, Ontario: Benton Resources Inc. (TSXV: BEX) ("Benton" or "the Company") is pleased to announce that its Option and Joint Venture partner Parkside Resources Corp. (TSX-V: PKS or "Parkside") has completed and successfully encountered gold mineralization in its' first drill campaign on the Forester Lake Gold Property in northwestern Ontario.
Below is Parkside's new release disseminated today:
"PARKSIDE RESOURCES REPORTS STRONG RESULTS FROM ITS INAUGURAL DRILL
PROGRAM ON ITS FORESTER LAKE GOLD PROPERTY
NOT FOR DISTRIBUTION TO THE UNITED STATES (US) NEWSWIRE SERVICES OR DISSEMINATION IN THE US
July 24, 2013, Toronto, ON - Parkside Resources Corp. (TSX-V: PKS) (the "Company") is pleased to announce the results from its recently completed inaugural drill program on the Forester Lake Gold Property in northwestern Ontario, 35 km southeast of Goldcorp's Musselwhite Mine. The Company completed 1,200 metres of diamond drilling in nine holes in two prospective areas that were identified after the compilation of data comprised of 78 historic drill holes (~8200 metres) with historic grades as high as 16.20 grams of gold (Au) per tonne over 0.50 metres; recent airborne and ground magnetic survey data; and, reviewing the wealth of geological and structural knowledge from Goldcorp's Musselwhite Mine.
All nine holes intersected anomalous gold mineralization with the most significant intervals being 4.49 grams per tonne (gpt) of Au (gpt Au) over 5.07 metres, including 7.67 gpt Au over 2.85 metres, and 24.93 gpt Au over 0.60 metres in Hole #8 (FOR-13-8) in "Area 1" of the drill program. The results are the best ever received for any drill program on the Forester Lake Gold Property with the highest grade interval being 24.93 gpt Au over 0.60 metres and the widest interval being 5.07 metres grading 4.49 gpt Au. Highlights of the drill program are provided below:
Drill Area 1, in the central portion of the large 4,352 hectare (10,754 acres) Forester Lake Gold Property, hosts structurally complex, altered and mineralized iron formation. Hole FOR-13-7, which had assay results of 2.8 gpt Au over 1.31 metres, was drilled to verify gold mineralization (12.34 gpt Au over 1.53 metres and 1.13 gpt Au over 1.52 metres) in Power Exploration's 1987 drill program, NK-87-07. The intersection of the FOR-13-7 hole corresponds closely to Power Exploration's previous drill intersection.
Hole FOR-13-8 is a newly discovered high-grade gold zone located west of Hole FOR-13-7, and was drilled to test the western extension of an apparent fold in the iron formation. The mineralization in FOR-13-8 is hosted in a banded-iron formation, is strongly silicified, and is characterized by arsenopyrite, pyrite, and 5-10% pyrrhotite. Minor quartz veining is also apparent.
Donald Goldman, President and CEO of Parkside Resources Corporation, commented "We are very pleased with the results of Parkside's inaugural drill program. The strong results confirm our belief in the viability of the Forester Lake Gold Property to delineate an economic gold deposit and in the ability of Benton Resources Inc., our Option and Joint Venture Agreement partner, to identify and source out a highly prospective gold property." He further commented that results from "Drill Area #1, and in particular Hole FOR-13-8, definitely justify several follow up holes to test the overall structure of the iron formation and the continuity and extension of the gold mineralization, both along strike to the northwest and southeast, and at depth."
Analysis will commence immediately to develop the next exploration program on the Forester Lake Gold Property.
Parkside Resources Corporation has implemented a QA/QC protocol for its exploration work. The NQ core was delivered to its secure core shack facility in Thunder Bay, Ontario. Generally, the core was marked in 1.0 metre intervals for splitting, sampling and assaying, unless geological data indicated a shorter sample interval. Prior to splitting, all core was photographed. Core sampling was completed using an electric core saw with a diamond impregnated blade with half of the drill core being delivered to Accurassay Laboratories in Thunder Bay, Ontario. Accurassay Laboratories is an ISO 17025 accredited laboratory. The remainder of the core has been stored at the core shack.
The geological information reported has been reviewed and approved by Garry Clark P.Geo., of Clark Exploration Consulting, consulting geologist for Parkside Resources Corporation, who is a qualified person under the definitions established by National Instrument 43-101.
About Parkside Resources Corporation
Parkside Resources Corporation is a Canadian based mineral exploration company dedicated to building shareholder value through focused exploration, discovery and development of high quality precious and base metal projects. The Company has entered into an Option and Joint Venture Agreement with Benton Resources Corporation to explore the Forester Lake Gold Property, and has earned a 60% interest in the Property, which is located approximately 100km north of Pickle Lake, Ontario and roughly 35km southeast of Goldcorp's Musselwhite Gold Mine. Incorporated in 2005, Parkside Resources Corporation is a reporting issuer in the provinces of British Columbia and Alberta, the common shares of which are listed for trading on the TSX Venture Exchange under the symbol TSX-V: PKS."
About Benton Resources Inc. (BEX: TSX.V)
Benton Resources Inc is a newly listed Canadian based junior with multiple joint ventures and a diversified property portfolio in Gold-Silver, Nickel, Copper, and Platinum group elements. The Company is well funded with approximately $8.7 million in cash and $1.0 million in marketable securities.
Clinton Barr (P.Geo.), V.P. Exploration for Benton Resources Inc., is the qualified person responsible for this release.
On behalf of the Board of Directors of Benton Resources Inc.,
"Stephen Stares" Stephen Stares, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploratio n, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections
For further information contact Stephen Stares @:
3250 Highway 130,
Rosslyn, ON P7K 0B1
Phone (807)475-7474
Fax (807)475-7200
www.bentonresources.ca
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