https://www.northernontariobusiness.com/
Benton Resources swings deal on two high-grade properties in northwest
A Thunder Bay gold exploration company is picking up two high-grade platinum group metals (PGM) properties, west of the city.
In two separate deals, Benton Resources announced July 2 of its impending acquisition of the Escape Lake Discovery from Rio Tinto Exploration Canada for $6 million, and the Thunder Bay North deposit from Australia’s Panoramic Resources for $9 million.
The two properties are 60 kilometres south of North American Palladium’s (NAP) Lac des Iles Mine and 10 kilometres east of NAP’s Sunday Lake property. The acquisitions should be finalized within the next two to three months.
With the projects only 50 kilometres from their home base, Benton Resources president Stephen Stares said through a news release that both are “well situated to aggressively move them forward.”
Benton, which bills itself as a “project generator,” has a number of gold exploration properties across northwestern Ontario and Newfoundland-Labrador.
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