Under the terms of the proposed transaction and subject to regulatory approval, Benton would acquire from White Metal an initial option of a 60% interest in the Project (the “Initial Option”), followed by a second option to acquire an additional 10% interest (the “Second Option”) in the Project.
Location & Access
Located ~ 83 km west of the port city of Thunder Bay and ~ 2 km from the town of Shebandowan.
Easy access to the property, north on Athelstane Road off Highway 11; many logging roads covering the property.
295 single cell mining claims totalling ~ 6269 hectares.
Far Lake Property: Highlights
A 2019 discovery of a high-grade, semi-massive sulphide copper occurrence during trenching program include a 0.7m channel sample across massive sulphide that assayed 22.0% Cu, 30.2 g/t Ag, and 0.25 g/t Au & 3.54% Cu over 3m, including 4.96% Cu over 1m.
Mineralization is located within a northwest-southeast trending, brecciated and silicified structure that bisects a regional granitic pluton. Sulphide mineralization in the structure has been delineated for approximately 400m and remains open in all directions.
In addition, a parallel zone 2.1km west of the copper occurrence was located in the spring of 2020 by Benton Resources and exhibits a similar intense brecciation and silicification. This second structure has been traced intermittently over a 5km strike length with chalcopyrite (copper sulphide) mineralization occurring throughout. The new zone is highly silicified and exhibits brecciation and an abundance of quartz veining with local silicified areas measuring up to 200m wide. Mineralization identified to-date on the Property displays characteristics suggestive of multiple mineralizing events, at both the property and regional scale As reported by Benton Resources – see https://www.bentonresources.ca/projects/far-lake/
A boulder which appearance suggest and had not traveled far during glaciationcontained 0.293% Cu, 1.71g/t Pd, 0.3g/t Pt and 0.219g/t Au
The north-northwest trending Far Lake Copper Zone was traced along strike for more than 95 m and intermittently exposed in two trenches.
Zone is open along strike in both directions.
The two trenches expose the 2 to 7 m wide zone along its strike and comprise an approximately 50 m long North trench and a 20 m long South trench.
The south end of the North trench is about 35 m from the north end of the South trench. Mineralization is described as disseminated sulfides (up to 5% chalcopyrite) with localized massive sulfides (>80% sulphides) consisting mainly of chalcopyrite and lesser pyrite.