Edmonton, Alberta–(Newsfile Corp. – October 6, 2021) – Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the “Company” or “Benchmark“) – is pleased to announce new results from an initial series of drill holes at the Connector Zone that have successfully delineated near-surface continuity of gold and silver mineralization between the Cliff Creek Deposit and the Dukes Ridge Deposit (Figure 1). This new zone is located outside of and marginal to the existing resource, extending over ~300 metres strike-length ~130 metres vertical depth. The Connector Zone remains open to depth and across strike with multiple zones and will be subject to additional expansion drilling. The discovery of new broad mineralization and high-grade material at surface has the potential to increase gold-silver ounces in an updated mineral resource estimate and provide the potential for a higher-grade starter pit in near-term engineering studies.
New results from surface include:
- 41.15 metres (m) core length of 1.31 grams per tonne (g/t) gold and 30.77 g/t silver or 1.69 g/t gold equivalent* (AuEq) in drill hole 21CCRC016 (Figure 2), and;
- 10.67 m of 3.45 g/t gold and 181.81 g/t silver or 5.72 g/t AuEq in drill hole 21DRRC005.
Deeper intercepts demonstrate continuity of these broad zones of mineralization with high-grade material increasing at depth, this includes 53.34 m core length of 0.55 g/t gold and 55.61 g/t silver or 1.24 g/t AuEq with 1.52 m of 8.03 g/t gold and 1,220.00 g/t silver or 23.28 g/t AuEq in drill hole 21CCRC014. These significant new results also show the potential for new broad zones of mineralization linking the north end of the Connector Zone with the eastern margins of Cliff Creek North as seen in drill hole 21CCRC018 with 25.91 m of 2.40 g/t Au and 47.99 g/t silver or 3.00 g/t AuEq including 9.14 m of 5.66 g/t gold and 110.33 g/t silver or 7.04 g/t AuEq).
The discovery of broad mineralization from surface within the connector zone generates flexibility and potential for higher-grade starter pits and provides significant rewards to potential future mine production schedules. The east and west margins of the Connector Zone were previously modeled as waste in the resource model (see news release May 14, 2021) and now show potential to both expand the pit shells and host more material above the Mineral Resource Estimate (MRE) lower cutoff grades. The initial 2021 drill results have provided a positive need to update the on-going MRE’s and shells for input into the Preliminary Economic Assessment (PEA), delaying previous completion estimates. Engineering work to support feasibility will continue based on initial internal design. The new results at the Connector Zone and pending results at the AGB Deposit and Cliff Creek Deposit have significant potential to optimize mine design to positively impact the project economics. Benchmark’s flagship Lawyers Gold-Silver Project is located within a road accessible region of the prolific Golden Horseshoe area of north-central British Columbia, Canada.
John Williamson, CEO commented, “The new results are defining strong continuity of mineralization between two deposits and demonstrate potential to link the Cliff Creek and Dukes Ridge deposits with significant gold-silver at surface. In addition, the AGB deposit is displaying significant expansion with visuals from the core providing significant mineralization to the south and at depth, outside of the pit constrained resource. The Connector Zone remains open and current drilling has the potential to expand all deposit areas and upgrade more gold-silver ounces to the Measured + Indicated category.”
Table 1: Drill Results Summary from the Connector Zone
* Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio.
** Intervals are core-length. True width is estimated between 80 to 90% of core length.
Quality Assurance and Control
Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). The sampling program was undertaken by Company personnel under the direction of Rob L’Heureux, P.Geol. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Analysis by four acid digestion with 48 element ICP-MS analysis was conducted on all samples with silver and base metal over- limits being re-analyzed by atomic absorption or emission spectrometry. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.
About Benchmark Metals
Benchmark Metals Inc. is a Canadian based gold and silver company advancing its 100% owned Lawyer’s Gold-Silver Project located in the prolific Golden Horseshoe of northern British Columbia, Canada. The Project consists of three mineralized deposits that remain open for expansion, in addition to +20 new target areas along the 20 kilometre trend. The Company trades on the TSX Venture Exchange in Canada, the OTCQX Best Market in the United States, and the Tradegate Exchange in Europe. Benchmark is managed by proven resource sector professionals, who have a track record of advancing exploration projects from grassroots scenarios through to production.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “John Williamson”
John Williamson, Chief Executive Officer
For further information, please contact:
Telephone: +1 604 260 6977
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain “forward-looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.