The company interested in mining explorations at the Cape Ray Fault is set to start drilling this week.
Benton Resources, a company located in Ontario and with resources all over the country, purchased the deposits at the Cape Ray Fault back in the summer of 2013.
Since acquiring the deposits, the company has taken many mini-bulk samples, which were sent to various labs for testing.
Although the company will be focusing on precious metals such as gold and silver, all other minerals such as lead and copper will be processed as well.
Samples that were tested gave mixed results but the company is optimistic that they will find more resources.
Cabo Drilling, from Springdale, has been hired for the upcoming drill program that could be starting any day.
President Stephen Stares said the hard winter ground is more favourable when it comes to drilling.
"We are going in to extend the existing deposits and we are hoping to discover a new one as well," said Stares.
He said the samples they have taken in previous months have provided good indications for targets for new deposits.
The 2,000-meter drill program is designed to test various targets, which includes an immediate extension to the 51 deposit.
Stares said the drill program should last a couple of months, and the equipment will be travelling in off Route 470 near Isle aux Morts.
"We are optimistic in finding more resources," said Stares. "We are going to spend our efforts on that for now, although we look forward to working with the local communities and government in Newfoundland."