Dec 10 2013
Benton Resources Inc. is pleased to announce that it has acquired by staking a 100% interest in 28 claim units located 2.5km NE of the Beaver Brook Antimony mine and 64 claim units 9km to the SW of the Mine.
These new claims cover the favorable stratigraphy that hosts the Beaver Brook antimony deposit in central Newfoundland. Great Atlantic Resources Corp shut down Beaver Brook, the only antimony mine in North America, in December of 2012 citing lack of ore. Recent literature in the public domain suggests that current global reserves of antimony will be depleted during the next decade. Applications for antimony include fire retardants, acid car batteries, anti-friction bearings and other metallic alloys, glass and pharmaceuticals. The flame retardant and lead-acid battery sectors accounted for 80% of all use of the metal in 2010. Currently, China dominates the world market in antimony similar to the rare earth metals sector. Benton is planning to complete a modest soil geochemical survey and prospecting program which will be completed by Benton team member Calvin Keats, one of the prospectors responsible for the discovery of the Beaver Brook antimony deposit.
Stephen Stares, President and CEO commented, "While Benton remains focused on advancing our Cape Ray project towards production, we are continually looking for cost effective opportunities to acquire strategically favourable claims in close proximity to former producing assets in mine-friendly jurisdictions. We feel this project encompasses those attributes and will actively seek a partner to assess the project's potential."