Benz Delivers a New High Grade Gold Discovery at Glenburgh
Benz Delivers a New High Grade Gold
Discovery at Glenburgh
HIGHLIGHTS:
New High-Grade Gold Discovery:
Benz initial results from maiden drilling at the Zone 126 target
at the Glenburgh Gold Project have revealed a significant new high-grade gold lens approximately
80m down-plunge
from
previously interpreted gold
mineralisation
.
Significant intercepts include:
11m at 19.9g/t gold from 274m (GBZ126_010)
5m at 10.2g/t gold from 222m and 7m at 3.5g/t gold from 233m (GBZ126_001)
4m at 12.2g/t gold from 319m (GBZ126_009)
8m at 5.6g/t gold from 243m (GBZ126_013)
Targeting Model Confirmed:
Drilling at Zone 126 has validated Benz's initial structural
interpretation,
confirming a previously unrecognised overall NE plunge
to the mineralised
system compared to previous exploration which focused mainly on shoots plunging to the SW.
First Drilling with New Insights:
Importantly, this is the first time the Glenburgh gold system has
been drilled using this refined model,
opening up the entire Glenburgh 18km mineralised
corridor to untested fold plunge targets.
Significant Discovery Potential:
With a confirmed exploration model and multiple untested gold
targets, Benz is now positioned to unlock a potentially much larger mineralised system with
substantial upside.
Advanced Surface Mapping Underway:
Extensive outcrop exposure across the project area is
enabling detailed surface geological mapping to be conducted. Early work confirms that the NE
fold geometries are visible at surface-providing a powerful tool to pinpoint the next round of
untested down-plunge drill targets.
Figure 1.
Long section Z126 Drilling.
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Vancouver, British Columbia--(Newsfile Corp. - April 2, 2025) - Benz Mining Corp (ASX: BNZ) (TSXV:
BZ) ("Benz" or the "Company") is pleased to report the first results from its maiden 8,500m RC drilling
program at the 100%-owned Glenburgh Gold Project in Western Australia. This announcement covers
results from 13 of the 21 holes completed to date, with assays from the remaining holes expected
towards the end of this Quarter.
Zone 126 was discovered by previous owners, Gascoyne Resources Limited and Helix Resources
Limited, and includes previous wide high-grade gold intercepts such as:
1
24m at 9.1g/t
gold (VRC535)
10m at 11.6g/t
gold (VRC201)
28m at 5.0g/t
gold (VRC 580)
12m at 8.1g/t
gold (VRC174)
8m at 11.6g/t
gold (VRC 176)
14m at 8.9g/t
gold (VRC578)
Mineralisation at Zone 126 (
Figure 2
) outcrops at surface and was previously drilled to approximately
200m below surface where the mineralisation appeared to pinch out at depth along a steep SW-plunge.
During due diligence for the acquisition of the Glenburgh Gold Project, Benz structural geologists
identified the folded geometry of gneissic rocks hosting gold mineralisation was plunging shallow to the
NE suggesting continuity of Zone 126 in this direction, a model promptly validated by drilling in March
2025.
Figure 2
. Plan viewing showing the extent of the known mineralised trend as detailed in historical
surface Au sampling (>25ppb)
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Shown below in
Figure 3
, is a plan view detailing the drill collar locations and the newly discovered high-
grade gold lens at Zone 126. Figure 3 also outlines the conceptual position identified by the new
structural model which will be the next priority drill target down plunge. This highlights the significant
potential for further high-grade discoveries along the untested north-east plunge corridor.
High-grade gold intercepts at Zone 126 are hosted within a broad mineralised envelope, up to 70m
wide, of elevated gold. Within this envelope, significant patches of higher-grade material ranging
between 1-10g/t gold have been intersected, highlighting the scale, continuity, and potential for bulk-
disseminated style gold mineralisation.
All holes to date have been drilled via reverse circulation drilling to depths in excess of 500m, while
maintaining full recovered and dry samples. This has allowed Benz to rapidly and cost-effectively test
targets at depths that are often beyond this drilling methods range.
Figure 3.
Plan view of reported holes, with position of new discovery lens.
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Benz CEO, Mark Lynch-Staunton, commented:
"We are absolutely thrilled with the results of our maiden drilling program at Zone 126. Not only have
we hit one of the highest ever gold intercepts on the entire project to date in our maiden program, but
more importantly, we have confirmed our concept that completely turns the structural understanding of
the Glenburgh Gold Project on its head. This extension is a significant high-grade gold discovery. It's
the first time this gold deposit has been drilled with our refined targeting approach, and the results
speak for themselves.
"Not only have we intersected exceptional grades, but we've also opened up the entire 18km
mineralised gold corridor to untested north-east fold plunge targets. With advanced surface mapping
now underway and clear structural controls visible at surface, we're in a strong position to identify and
drill the next round of high-potential targets. This is a huge step forward for the Glenburgh Gold
Project, and we believe we're just scratching the surface of the true potential of what we believe could
be a multi-million ounce gold system."
The Company has also agreed to issue a total of 8,000,000 options to certain consultants of the
Company. All were granted in accordance with the Company's Omnibus Equity Incentive Compensation
Plan and are in accordance with policies of the TSX Venture Exchange. 4,000,000 options have an
exercise price of C$0.45 and 4,000,000 options have an exercise price of C$0.90, with all options
expiring on 2 April 2028.
This announcement has been approved for release by the Board of Benz Mining Corp.
For more information please contact:
Mark Lynch-Staunton
Chief Executive Officer
Benz Mining Corp.
E:
T: +61 8 6143 6702
About Benz Mining Corp.
Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) is a pure-play gold exploration company dual-listed on the
TSX Venture Exchange and Australian Securities Exchange.
On 6 November 2024, Benz announced a binding agreement to acquire the Glenburgh and Mt Egerton
Gold Projects in Western Australia from Spartan Resources Limited (ASX: SPR), which was completed
on 14 January 2025 and marks a transformational step, establishing Benz as a multi-jurisdictional gold
exploration company with a focus on unlocking value in underexplored assets. The Glenburgh Gold
Project features a Historical (for the purposes of NI 43-101) Mineral Resource Estimate of 16.3Mt at 1.0
g/t Au (510,100 ounces of contained gold)
2
. A technical report prepared under NI 43-101-
Standards of
Disclosure for Mineral Projects
(
NI 43-101
) titled "NI 43-101 Technical Report on the Glenburgh -
Egerton Gold Project, Western Australia" with an effective date of 16 December 2024 has been filed
with the TSX Venture Exchange and is available under the Company's profile at
www.sedarplus.ca
.
Benz's key point of difference lies in its team's deep geological expertise and the use of advanced
geological techniques, particularly in high-metamorphic terrane exploration. The Company aims to
rapidly grow its global resource base and solidify its position as a leading gold explorer across two of
the world's most prolific gold regions.
The Company also owns the Eastmain Gold Project in Quebec, with a Mineral Resource Estimate dated
effective May 24, 2023 and prepared in accordance with NI 43-101 and JORC (2012) of 1,005,000
ounces at 6.1g/t Au
3
, also available under the Company's profile at
www.sedarplus.ca
, showcasing
Benz's focus on high-grade, high-margin assets in premier mining jurisdictions.
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For more information, please visit:
https://benzmining.com/
.
Competent Person's Statement (JORC Code)
The information contained in this announcement that relates to new Exploration Results for the Glenburgh
Gold Project, is based on and fairly reflects, information compiled by Dr Marat Abzalov. Dr Abzalov is an
independent consultant (MASSA Geoservices) and was engaged by Benz Mining Corp. Dr Abzalov is a
Fellow of The Australasian Institute of Mining and Metallurgy (#202718) and has sufficient experience
which is relevant to the style of mineralisation and type of deposit under consideration. Dr Abzalov has
shares in Benz Mining Corp. Dr Abzalov consents to the inclusion in the report of the matters based on
his information in the form and context in which it appears
The Mineral Resource Estimates for the Eastmain Project and the Glenburgh Gold Project were
previously reported in accordance with Listing Rule 5.8 on 24 May 2023 and 6 November 2024,
respectively. The Company confirms that it is not aware of any new information or data that materially
affects the information included in the original market announcements and confirms that all material
assumptions and technical parameters underpinning the Estimates continue to apply and have not
materially changed. The Company confirms that the form and context in which the Competent Person's
findings are presented have not been materially modified from the original market announcements.
The information in this announcement that relates to historical exploration results for the Glenburgh Gold
Project was first reported to the ASX in accordance with ASX Listing Rule 5.7 on 6 November 2024. The
Company confirms that it is not aware of any new information or data that materially affects the
information included in the original market announcement.
Qualified Person's Statement (NI 43-101)
The disclosure of scientific or technical information in this news release is based on, and fairly
represents, information compiled by Dr Marat Abzalov. Dr Abzalov, who is a Qualified Person as defined
by NI 43-101, and member in good standing as a Fellow of The Australasian Institute of Mining and
Metallurgy (#202718). Dr Abzalov has reviewed and approved the technical information in this news
release. Dr Abzalov owns shares in Benz Mining Corp.
Historical Mineral Resource Estimates
All mineral resource estimates in respect of the Glenburgh Gold Project in this news release are
considered to be "historical estimates" as defined under NI 43-101. These historical estimates are not
considered to be current and are not being treated as such. These estimates have been prepared in
accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and
Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (
JORC Code
) and
have not been reported in accordance with NI 43-101.
A qualified person (as defined in NI 43-101)
(
Qualified Person
) has not done sufficient work to classify the historical estimates as current mineral
resources. A Qualified Person would need to review and verify the scientific information and conduct an
analysis and reconciliation of historical data in order to verify the historical estimates as current mineral
resources.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information"
or "forward looking statements" (collectively
Forward-Looking Information
) as such term is used in
applicable Canadian securities laws. Forward-Looking Information includes, but is not limited to,
disclosure regarding the exploration potential of the Glenburgh Gold Project and the anticipated benefits
thereof, planned exploration and related activities on the Glenburgh Gold Project. In certain cases,
Forward-Looking Information can be identified by the use of words and phrases or variations of such
words and phrases or statements such as "anticipates", "complete", "become", "expects", "next steps",
"commitments" and "potential", in relation to certain actions, events or results "could", "may", "will",
"would", be achieved. In preparing the Forward-Looking Information in this news release, the Company
has applied several material assumptions, including, but not limited to, that the accuracy and reliability of
the Company's exploration thesis in respect of additional drilling at the Glenburgh Gold Project will be
consistent with the Company's expectations based on available information; the Company will be able to
raise additional capital as necessary; the current exploration, development, environmental and other
objectives concerning the Company's Projects (including Glenburgh and Mt Egerton Gold Projects) can
be achieved; and the continuity of the price of gold and other metals, economic and political conditions,
and operations.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could
cause plans, estimates and actual results to vary materially from those projected in such forward-looking
information. Factors that could cause the forward-looking information in this news release to change or
to be inaccurate include, but are not limited to, the early stage nature of the Company's exploration of the
Glenburgh Gold Project, the risk that any of the assumptions referred to prove not to be valid or reliable,
that occurrences such as those referred to above are realized and result in delays, or cessation in
planned work, that the Company's financial condition and development plans change, and delays in
regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in
the Company's continuous disclosure filings filed under the Company's profile at
www.sedarplus.ca
and
www.asx.com.au
. Accordingly, readers should not place undue reliance on Forward-Looking Information.
The Forward-looking information in this news release is based on plans, expectations, and estimates of
management at the date the information is provided and the Company undertakes no obligation to
update these forward-looking statements, other than as required by applicable law.
NEITHER THE 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 ACCURACY OR ADEQUACY OF THIS RELEASE.
Appendix 1: Collar Table.
Coordinates system: GDA94/MGA Zone 50
Hole number
Easting
Northing
Elevation
Max. depth
Dip
Azimuth
Comment
GBZ126_001
414751
7193776
317
396
-70
145
GBZ126_002
414750
7193823
319
396
-72
145
GBZ126_003
414616
7193732
322
420
-72
145
GBZ126_004
414704
7193770
316
396
-71
144
GBZ126_005
414669
7193870
318
574
-75
145
Full Assay results pending
GBZ126_006
414622
7193769
320
426
-65
145
GBZ126_007
414724
7193798
317
366
-55
145
GBZ126_008
414797
7193813
321
324
-60
145
GBZ126_009
414688
7193875
307
402
-57
145
GBZ126_010
414662
7193769
308
510
-65
145
GBZ126_011
414618
7193784
312
462
-59
145
GBZ126_012
414683
7193816
313
420
-65
145
GBZ126_013
414760
7193821
313
318
-65
145
GBZ126_014
414793
7193831
313
402
-70
134
Full Assay results pending
Appendix 2: Significant Intercepts Table.
Results reported >0.5g/t Au with 3m of allowed dilution.
Hole ID
From
To
Au ppm
Interval
Comment
GBZ126_001
222
227
10.25
5.00
New HG Lens
GBZ126_001
233
240
3.53
7.00
GBZ126_001
246
249
3.94
3.00
GBZ126_001
290
293
0.92
3.00
GBZ126_002
171
173
3.50
2.00
GBZ126_002
233
236
2.74
3.00
GBZ126_002
263
268
1.84
5.00
GBZ126_002
293
296
1.81
3.00
New HG Lens
GBZ126_002
356
358
2.26
2.00
GBZ126_003
255
258
1.69
3.00
GBZ126_003
285
287
2.49
2.00
GBZ126_003
290
295
2.29
5.00
GBZ126_003
318
320
1.96
2.00
GBZ126_003
330
337
1.36
7.00
GBZ126_003
348
352
0.77
4.00
GBZ126_003
365
368
1.11
3.00
GBZ126_004
179
181
3.23
2.00
GBZ126_005
542
544
0.76
2.00
GBZ126_006
308
312
0.66
4.00
GBZ126_006
317
322
1.69
5.00
GBZ126_006
350
358
1.08
8.00
GBZ126_006
360
367
0.94
7.00
GBZ126_007
184
187
3.82
3.00
GBZ126_007
210
215
0.63
5.00
GBZ126_007
231
233
0.63
2.00
GBZ126_008
187
189
1.29
2.00
GBZ126_008
216
218
4.46
2.00
GBZ126_009
254
257
2.01
3.00
GBZ126_009
319
323
12.18
4.00
New HG Lens
GBZ126_009
346
351
2.15
5.00
GBZ126_010
274
285
19.93
11.00
New HG Lens
GBZ126_011
227
234
1.41
7.00
GBZ126_011
310
316
0.78
6.00
GBZ126_011
319
323
2.66
4.00
GBZ126_011
354
357
1.48
3.00
GBZ126_012
228
230
0.72
2.00
GBZ126_012
243
245
2.37
2.00
GBZ126_012
278
281
5.90
3.00
GBZ126_012
285
288
1.97
3.00
GBZ126_012
306
308
2.36
2.00
GBZ126_012
352
364
2.61
12.00
New HG Lens
GBZ126_012
365
372
0.63
7.00
GBZ126_012
375
378
3.55
3.00
GBZ126_013
243
251
5.64
8.00
New HG Lens
Appendix 3: Individual 1m assay results for selected high grade significant intercepts.
Hole number
From
To
Au ppm
GBZ126_001
222
223
3.2
GBZ126_001
223
224
20.9
GBZ126_001
224
225
16.7
GBZ126_001
225
226
9.3
GBZ126_001
226
227
1.1
GBZ126_009
319
320
4.5
GBZ126_009
320
321
38.8
GBZ126_009
321
322
4.6
GBZ126_009
322
323
0.8
GBZ126_010
274
275
15.4
GBZ126_010
275
276
16.4
GBZ126_010
276
277
88.6
GBZ126_010
277
278
40.0
GBZ126_010
278
279
2.8
GBZ126_010
279
280
2.2
GBZ126_010
280
281
9.1
GBZ126_010
281
282
3.3
GBZ126_010
282
283
12.3
GBZ126_010
283
284
27.0
GBZ126_010
284
285
2.2
GBZ126_013
243
244
11.2
GBZ126_013
244
245
2.5
GBZ126_013
245
246
1.6
GBZ126_013
246
247
13.7
GBZ126_013
247
248
7.7
GBZ126_013
248
249
2.7
GBZ126_013
249
250
4.9
GBZ126_013
250
251
0.8
Hole number
From
To
Au ppm
Appendix 4: JORC Tables
JORC Code, 2012 Edition - Table 1 report template
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections)
Criteria
Commentary
Sampling
techniques
Results are part of BNZ's inaugural RC drilling campaign at the recently
acquired Glenburgh Gold Project situated ~285 km east of Carnarvon via
Gascoyne Junction, WA.
RC drilling samples were collected as 1m single samples.
Each sample collected represents each one (1) metre drilled collected from
the rig-mounted cone splitter into individual calico bags (~3kg) and stored in
labelled sequential polyweave bags for long-term storage.
The rig mounted cyclone/cone splitter was levelled at the start of each hole to
aid an even fall of the sample through the cyclone into the cone splitter.
RC drilling sample submissions include the use of certified standards
(CRMs), and field duplicates were added to the submitted sample sequence
to test laboratory equipment calibrations.
Standards selected are matched
to the analytical method of photon assaying at ALS labs in Perth (~500g
units). No composites were taken.
Based on statistical analysis of these results, there is no evidence to
suggest the samples are not representative.