Benton Resources (BTC-V) has assayed the last of 324 grab samples taken this summer from its Kingurutik Lake copper-nickel-cobalt property in Labrador, confirming mineralization in sevaral zones.
Samples were taken from conductive target areas identified by an airborne survey last April.
The last batch of samples were taken from several smaller but significant conductive areas and returned grades up to 6% copper, 1.18% nickel and 0.26% cobalt.
Benton, which formed a 50% joint venture with Teck Cominco (TCK-T, TCK-N) last February, says this confirms the potential for the discovery of a large magmatic copper-nickel-cobalt type deposit.
Kingurutik Lake is located 60 km north of the Voiseys Bay nickel-copper-cobalt deposit but was restricted from mineral exploration by Inuit land claims until recently.
A ground geophysical survey has been completed over several targets on the property to better define some of the large conductive zones detected by the airborne survey, and also to prioritize drill targets.
Benton shares were up nearly 3% or 3 in Toronto today to $1.15 on a trading volume of 276,000.
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