The project, which is located 30km north of Thunder Bay in Ontario, was under option to Glory Resources, an Australian-based junior currently being acquired by Eldorado Gold.
Benton is scheduled to receive an $80,000 payment in lieu and the return of a 100% interest in the project from Eldorado, due to assessment deficiencies.
The Onion Lake project is anticipated to be highly prospective for the discovery of Platinum, Palladium, Copper, as well as Nickel mineralization.
The project lies adjacent to the potential western strike extent of Panoramic Resources’ Thunder Bay North deposit, which has an indicated mineral resource of 9.83 million tonnes grading 2.34g/t Pt-Eq for 741,000 Pt-Eq ounces and a further inferred mineral resource of 0.53 million tonnes at 2.87g/t Pt-Eq for 49,000 Pt-Eq ounces.
The Onion Lake property also borders the recently announced discovery of 20.2m grading 3.22gpt Pt+Pd+Au, 0.25% Cu and 0.11% Ni made by partners Transition Metals and Impala Platinum on their Sunday Lake project.
More than $1.2 million has been invested by Glory in exploration on the Onion Lake project in the past four years.
The exploration has identified multiple highly prospective targets, which Benton plans to follow up this year.
