Trading Symbol: RRO - TSX-V
Shares Outstanding: 112,127,290
HALIFAX, March 9 /CNW/ - Royal Roads Corp. (RRO-TSX-V) ("Royal Roads") and Benton Resources Corp. (BTC-TSX-V) ("Benton") are pleased to announce approval of a CDN$1,175,000 Exploration Program and Budget ("Program") for 2010 on their 38,150 hectare Long Range Nickel joint venture in central Newfoundland. Following up on the discoveries made in fourth quarter of 2009, the Program includes diamond drilling on the Range Zone copper discovery, as well as ground geophysics and drilling on the Portage nickel and copper discovery. The Program also includes frontier exploration on recently acquired properties underlain by prospective gabbro.
Frontier exploration activity includes over 1,400 line kilometres of airborne geophysical surveying as well as follow-up prospecting over five new properties, totaling more than 200 km2, acquired since September 2009. Each of the new properties cover unexplored gabbro bodies, only recently recognized as being prospective for magmatic nickel-copper sulphide deposits.
The Program will also include advanced exploration on the companies' original 180 km2 property following up on discoveries made in the fall of 2009. These advanced surveys will consist of approximately 70 line kilometres of deep-seeking time domain electromagnetic surveys over the Portage Nickel Prospect and surrounding area, where trenching in 2009 returned assays of up to 2.70% nickel, 0.58% copper and 0.24% cobalt in grab samples, as well as sawed channel samples averaging 0.99% nickel, 0.22% copper and 0.05% cobalt over 3.0 metres (including 2.18% nickel, 0.19% copper and 0.11% cobalt over 1.0 metre). Drilling of this prospect in 2009 intersected several sections of mineralized gabbro, including a section assaying 1.36% nickel, 0.36% copper and 0.039% cobalt over a 1 metre core length. The companies consider the discovery of this mineralization in gabbro to be particularly encouraging, as results suggest sulphides have segregated within the gabbro and may have accumulated massive sulphides grading in excess of 4% nickel and 3% copper. These results further support the companies' interpretation that the project covers a newly recognized mineralized environment broadly analogous to other magmatic-nickel-copper sulphide deposits in North America, including Vale-Inco's Voisey's Bay mine in Labrador and Kennecott's Eagle deposit in northern Michigan.
The first drill program, scheduled to commence later this month depending on weather and ground conditions, will consist of 1,150 metres of drilling in five holes designed to test the recently discovered Range Zone. This prospect is comprised of banded, semi-massive and massive sulphides associated with a strong conductor located 1.3 kilometres east of the project's main gabbro body. An initial drill test of the prospect in 2009 intersected semi-massive to massive sulphides averaging 0.39% copper and 0.032% cobalt over 29.11 metres (estimated true width). Further drilling will test the conductor's 400 metre strike, as the companies recognize the prospect's potential to be a large sulphide accumulation that may host significant grades of copper and other base metals.
The joint venture is located close to infrastructure, including power lines and roads that provide ready access to port facilities located 40 kilometres to the west. The area is considered receptive to mining, being located less than 65 kilometres southwest of Buchans, one of the province's longest established mining centers.
Qualified Person
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Paul Moore, M.Sc., P.Geo., (NL), Royal Road's Vice President of Exploration, is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy. Quoted assays and QAQC procedures described in detail in previous Royal Roads' press releases dated November 3 and November 18, 2009.
About Royal Roads
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Royal Roads is a resource company based in Halifax, Nova Scotia, Canada and is primarily focused on exploring and developing mineral properties in the famous historic Buchans mining camp in central Newfoundland, Canada. Acadian Mining Corporation (ADA-TSX) owns 29.18% of Royal Roads.
About Benton Resources
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Benton is a Canadian based junior with multiple joint ventures and a diversified property portfolio in Gold, Nickel, Copper, and Platinum group elements. The company currently has approximately $13 million in cash, owns approximately 36.3% interest in Coro Mining Corp (TSX.COP), holds an approximate 5% interest in Marathon PGM Corp (TSX.MAR) and retains a 2% Net Smelter Royalty on the northern portion of the Marathon PGM deposit.
Forward Looking Statements
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Certain information contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Royal Roads and Benton (the "Companies") believe that the expectations reflected in such forward-looking statements are reasonable, they can give no assurance that such expectations will prove to have been correct. The Companies caution that actual performance will be affected by a number of factors, many of which are beyond their control, and that future events and results may vary substantially from what the Companies currently foresee. The Companies' forward-looking statements are expressly qualified in their entirety by this cautionary statement.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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