Benz Intersects 79m at 4.4g/t Gold at Zone 126 Highest gram metre intercept to date at Glenburgh Gold Project
Benz Intersects 79m at 4.4g/t Gold at Zone 126
Highest gram metre intercept to date at Glenburgh Gold
Project
HIGHLIGHTS:
Lens 3 grows deeper and stronger with thickest high grade hit to date at Glenburgh
79m at 4.4g/t gold from 534m
Supported by recent third lens intercepts:
1
44m at 4.6g/t gold from 475m
20m at 2.6g/t gold from 507m
Latest high grade intercept approximately
70m down dip from nearest intercept
Depth extension untested:
Lenses 1 to 4 all remain open at depth, highlighting significant
opportunity to add further high grade ounces
Performance share milestones set
to align the business interests in growing value for all
shareholders with performance share packages structured around resource growth
Milestone 1: Group Resource growth to
2 million ounces gold
Milestone 2: Group Resource growth to
4 million ounces gold
Milestone 3: Group Resource growth to
6 million ounces gold
New drilling and logistics strategy implemented to expedite delivery of drilling results to market
Vancouver, British Columbia--(Newsfile Corp. - October 13, 2025) -
Benz Mining Corp.
(ASX: BNZ)
(TSXV: BZ)
("
Benz
" or the "
Company
") is pleased to report an additional discovery from ongoing
drilling at the Zone 126 prospect within the Glenburgh Gold Project in Western Australia.
Figure 1.
Long section view looking north of Zone 126 trend. Proposed drilling demarcated by crosses.
Current release results in larger bold text. Previous results released on 6 November 2024, 3 April 2025,
28 April 2025, 30 June 2025, 31 July 2025, 20 August 2025, 11 September 2025 and 17 September
2025.
To view an enhanced version of this graphic, please visit:
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Benz CEO, Mark Lynch-Staunton, commented:
"Lens 3 just keeps getting better. The latest 79 metres at 4.4 grams per tonne gold is the thickest and
one of the most exciting intercepts we've ever seen at Glenburgh - proof that this system is growing
stronger and more extensive with every drill hole. Our structural model is working exactly as planned,
consistently hitting thick, high-grade zones at depth.
"Every lens we've discovered so far remains open down-plunge, and we've only drilled a fraction of the
18km long Glenburgh corridor. The scale potential here is enormous - we're looking at a multi-lens gold
system with the kind of thickness and grade continuity that can build serious ounces fast.
"While assay turnaround times have been a factor in delivering results to market, we're actively
addressing this by implementing a dedicated logistics service from site to Perth to handle the increased
volume of samples now being generated. At the same time, we're ramping up drilling, with two of the rigs
set to move to double-shift operations, effectively giving us the power of six rigs turning at Glenburgh as
we push to accelerate discovery and growth.
"With this expanded program now in full swing, Benz is driving resource growth on multiple fronts -
unlocking bulk-tonnage potential at Icon and expanding the high-grade core at Zone 126. We're only
scratching the surface of what this exceptional gold system can deliver."
Glenburgh Drilling Strategy: A Structured and Cost-Effective Approach to Discovery and
Growth
Benz has implemented a disciplined, phased drilling strategy at Glenburgh designed to rapidly define,
extend, and convert high-grade gold mineralisation into resource ounces while maintaining one of the
lowest discovery costs in the industry.
Phase 1 - Defining the Limits
The first stage focuses on defining the lateral and near-surface limits of mineralised lenses using RC
drilling. This approach is fast, low-cost and guided by Benz's robust structural and geological targeting
model - a model that has already successfully delivered four new high-grade lenses across the
Glenburgh system.
Phase 2 - Extensional Drilling at Depth
Once new lenses are identified, extensional drilling is undertaken to test their depth potential. Every lens
discovered to date remains open at depth, and follow-up RC will systematically extend these zones
down-plunge.
Phase 3 - Resource Definition and Growth
The third phase involves infill and resource definition drilling. Importantly, even at this stage Glenburgh
retains strong growth potential, as its folded geological architecture concentrates gold within thickened
hinge zones - areas that often continue to yield additional ounces beyond initial expectations.
Cost Advantage
Benz enjoys one of the lowest drilling cost bases in the industry, with RC drilling utilised wherever
possible to rapidly generate results. This positions the Company at a significant advantage over peers
who rely heavily on slower and more expensive diamond drilling methods. Importantly, Benz is not
sacrificing structural understanding-every
RC hole is scanned with a downhole televiewer
, creating
a comprehensive
digital core library
that underpins detailed structural interpretation and 3D modelling
of the system.
Zone 126 - an evolving multi-lens gold system
Zone 126 continues to establish itself as one of the most exciting underground growth opportunities at
the Glenburgh Gold Project. The latest step-out drilling confirms the extension of the third lens with one of
the widest and highest gram metre intercepts delivered at the Glenburgh Gold Project to date.
This current intercept of 79m at 4.4g/t gold is approximately 70m below the nearest drilling intercepts
including 47m at 1.9 g/t gold and 44m at 4.6 g/t gold. The lens is now currently over 350m in length and is
completely open at depth.
Zone 126 is no longer a single high-grade shoot, but a multi-lens system extending over more than one
kilometre in strike, with each lens open at depth and providing room for significant growth.
Drilling to date validates Benz's exploration targeting model, built on systematic structural mapping
before drilling, which has now successfully delivered three new lenses. Interpreted secondary shear
zones transect the main mineralised horizon (see Figure 2 below), contributing to the formation of higher-
grade gold lenses within a broader lower grade halo of gold up to 100m in width. This structural
architecture controls gold enrichment within Zone 126 and provides high-conviction drilling targets further
along the NE trend of mineralisation.
Figure 2.
Plan view collar map for holes reported in this release.
Lenses 1-3 represent discoveries
where secondary shear zones transect the main mineralised horizon. Targets for Lenses 4 and 5 are
defined at locations where mapped shear zones are interpreted to intersect the horizon in a similar
manner.
To view an enhanced version of this graphic, please visit:
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Ongoing drilling targets and new strategy
Drilling is ongoing at Zone 126 with one RC drill rig following up and extending recent +40 gram metre
results drilled by Benz in 2025 including:
44m at 4.6 g/t gold (25GLR 070)
47m at 1.9 g/t gold (25GLR 057)
11m at 19.9g/t gold (GBZ126 010)
39m at 5.1g/t gold (25GLR 022)
10m at 12.9g/t gold (25GLR 027)
10m at 6.1g/t gold (25GLR 033)
11m at 5.5 g/t gold (25GLR 039)
20m at 2.6 g/t gold (25GLR 035)
5m at 13.5 g/t gold (25GLR 037)
Benz is drilling additional holes into the newly discovered third and fourth lenses (see announcement
dated 17 September 2025: 4
th
High Grade Gold Lens Discovered at Zone 126) whilst also targeting the
new fifth lens target with several assays pending. Drilling will continue to define and extend the existing
lenses at depth.
Outside of the Zone 126 trend, two drill rigs continue to aggressively drill out the bulk tonnage potential of
the Apollo Icon trend with a fourth rig on its way to scout out new exciting targets along the 18km
Glenburgh Gold Corridor.
Management is also cognizant of capitalising on current market conditions for gold and maximising
shareholder value and, as such, is always looking for ways to expedite the development of the Glenburgh
Gold Project as rapidly as possible whilst maintaining strict safety standards.
In light of the current RC drilling conditions at Glenburgh where dry samples are attainable at depth up to
700m currently (some of the deepest RC holes drilled in Australia), Benz, in consultation with its drilling
partners, Top Drill, have elected to move 2 of the 4 drill rigs to double shift. This will have the effect of
increasing the effective drilling capacity to 6 rigs at Glenburgh. This will rapidly speed up the delivery of
the resource development at Glenburgh.
Benz, with the assistance of Top Drill, is also establishing a dedicated transport solution for the delivery
of the samples to the laboratories in Perth. Currently, sample delivery has been intermittent resulting in
delays of assay result delivery to market. By establishing weekly deliveries, assay turn around times
should become more regular. Further, laboratory turn around times are blowing out with the demand for
sampling given the current gold market. Benz is currently assessing options to expedite sample turn
around time and will keep the market informed of any developments in due course.
Performance Share Milestones Set to Align Key Management
To further align executive management and key personnel with shareholder interests, the Company has
set performance share milestones designed to retain and reward high-performing individuals and foster
a culture of value creation. The performance shares will directly link performance outcomes to resource
growth milestones, ensuring alignment between management success and shareholder returns and will
be issued under the Company's Omnibus Equity Incentive Compensation Plan and in accordance with
policies of the TSX Venture Exchange.
Performance shares will vest upon the achievement of the following key milestones:
Milestone 1: Group Resource growth to 2 million ounces gold
Milestone 2: Group Resource growth to 4 million ounces gold
Milestone 3: Group Resource growth to 6 million ounces gold
This structured, milestone-based incentive framework underscores the Board's commitment to
recognising performance, retaining talent, and driving the continued growth of Benz's high-grade gold
assets in Western Australia and Canada.
Glenburgh - A New Frontier Gold District
The 100%-owned Glenburgh Gold Project is rapidly emerging as a new frontier gold district with multi-
million-ounce potential. Located in Western Australia's Gascoyne region, Glenburgh hosts an 18-20
kilometre mineralised corridor anchored by the large-scale Icon-Apollo trend and the high-grade Zone
126 system.
Glenburgh's unique combination of thick, bulk-style gold mineralisation (Icon-Apollo) and multiple high-
grade underground lenses (Zone 126) positions it as a rare opportunity in the Australian gold sector.
With gold prices at record levels, the ability to develop both large-scale open pit and underground
operations offers exceptional leverage and growth potential.
Figure 3.
Geological overview of the Glenburgh Gold Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1818/270324_bf24ce8724bac8cc_005full.jpg
- END -
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. (ASX: BNZ) (TSXV: BZ) is a pure-play gold exploration company dual-listed on the
TSX Venture Exchange and Australian Securities Exchange. The Company owns the Eastmain Gold
Project in Quebec, and the recently acquired Glenburgh and Mt Egerton Gold Projects in Western
Australia.
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 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
.
The Eastmain Gold Project in Quebec hosts 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.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1818/270324_bf24ce8724bac8cc_006full.jpg
For more information, please visit:
https://benzmining.com/
.
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 Mr Mark Lynch-Staunton, who is a Qualified Person as defined by
NI 43-101 and a Member of Australian Institute of Geoscientists (AIG) (Membership ID: 6918). Mr Lynch-
Staunton has reviewed and approved the technical information in this news release. Mr Lynch-Staunton
owns securities 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 ID
Easting
Northing
Elevation (m)
Dip
Azimuth
End Depth
25GLR_023
414795
7193986
305
-60
144
702
Appendix 2: Significant Intercepts Tables.
High Grade Intercepts
: A nominal 4g/t Au lower cut off has been applied to results, with no maximum
internal dilution applied unless otherwise stated.
Hole ID
From (m)
To (m)
Au (ppm)
Length (m)
Comment
25GLR_023
534
613
4.4
79
Hole extended
Appendix 3: 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 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.
Drilling techniques
The RC drill rig was a Schramm C685 Rig type with the capability to reach >500m depths with a rig-mounted
cyclone/cone splitter using a face sample hammer bit of 5 1⁄2 - 6" size.
The booster was used to apply air to keep drill holes dry and reach deeper depths.
Drill sample recovery
RC sample recovery is visually assessed and recorded where significantly reduced. Negligible sample loss has
been recorded.
RC samples were visually checked for recovery, moisture and contamination.
A cyclone and cone splitter were
used to provide a uniform sample, and these were routinely cleaned.
RC Sample recoveries are generally high. No significant sample loss has been recorded.
Logging
RC chip samples have been geologically logged on a per 1 metre process recording lithology, mineralisation,
veining, alteration, and weathering.
Geological logging is considered appropriate for this style of deposit (metamorphosed orogenic gold). The
entire length of all holes has been geologically logged.
RC drill logging was completed by Galt Mining Solutions staff and data entered into BNZ's MXDeposit digital
data collection platform provided by Expedio.
All drill chips were collected into 20 compartment-trays for future reference and stored at Galt's warehouse in
West Leederville at the time of reporting.
Sub-sampling techniques
and sample preparation
RC chips were cone split at the rig.
Samples were generally dry.
A sample size of between 3 and 5 kg was collected.
This size is considered appropriate, and representative of
the material being sampled given the width and continuity of the intersections, and the grain size of the
material being collected.
For the 1 metre samples, certified analytical standards (appropriate for photon assaying) and field duplicates
were inserted at appropriate intervals at a rate equal to 1 in 20 and sent for analysis with the samples.
Sample preparation was undertaken at ALS Laboratory - Perth. Gold analysis utilised the photon assaying
methodology where original samples are crushed to 2mm with a sub-set 500g separated for non-destructive
analysis.
Any sample reporting as having elevated > 1µSv readings during the preparation for photon assaying at ALS
labs were flagged and were submitted for fire assay (Au-AA26) methodology at ALS labs in Perth as a
quantifying check against the Photon assays.