Benz Mining Announces Visible Gold Intersected at ~900m Vertical Eastmain Shaping up to Be a Large Gold System
Benz Mining Announces Visible Gold
Intersected at ~900m Vertical Eastmain
Shaping up to Be a Large Gold System
HIGHLIGHTS
Mineralised Mine Horizon intercepted between 936.3m to 970.5m (downhole)
Visible gold observed at 942.6m (deepest drilling on Project to date)
Electromagnetics targeting allowed for wide +100m spaced step-outs drill holes
D Zone mineralisation has now been identified over 1,400m downdip / plunge starting
near surface and extending to 885.0m vertical depth
Geological continuity of the Mine Horizon established over the whole 1,400m
Current intercept approximately 500m down dip of Benz's best intercept to date of 7.9m
at 35.9g/t gold in the same mineralised horizon
Multiple mineralised horizons are present in the hanging wall with all drillholes
intercepting shallower mineralisation underlined by multiple levels of EM conductors
Assays for 62 holes completed in 2021 still pending screen fire assays of mineralised
zones, 16 with observed visible gold
Toronto, Ontario--(Newsfile Corp. - February 16, 2022) - Benz Mining Corp. (TSXV: BZ) (ASX:
BNZ)
(the
Company
or
Benz
) is pleased to announce that drillhole EM21-228, completed earlier on in
the drilling season, intercepted the Mine Horizon at D Zone at a depth of 885.0m below surface (vertical
depth). The horizon is gold bearing as 21 small (sub-millimetric) specs of visible gold have been
identified by the logging geologists at 942.6m depth (core).
CEO, Xavier Braud, commented:
"This is an excellent result. Once again, we prove that our targeting method is extremely well suited to
the style of mineralisation seen at Eastmain. We are still working through a large gold system with
multiple high grade gold occurrences identified over 10km of strike."
Figure 1: Visible gold grains in EM21-228 ~942.6m deep. This is the deepest intercept of the
mineralised Mine Horizon to date.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1818/113949_b562af04c4deca58_001full.jpg
Figure 2: Mineralised interval with alteration, quartz veining and pyrrhotite mineralisation, EM21-228
~944m. Pyrrhotite is the iron sulphide detected by electromagnetics.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/1818/113949_b562af04c4deca58_002full.jpg
"We are very fortunate to have an exploration technique such as electromagnetics to target high-
grade gold mineralisation. We now have enough confidence in our technique to drill 1,000m holes or
broad 100m step outs and consistently hit gold mineralisation.
Every conductor we have hit to date has intersected mineralisation making EM a great tool for rapidly
assessing where the best parts of the gold system may be. After 18 months of drilling, we still have a
multitude of targets to test, highlighting that we may not have drilled the best of them yet."
D Zone Drilling
D Zone is a zone of gold mineralisation sitting approximately 750m from the existing 376,000oz
resource at Eastmain
[1]
. Shallow mineralisation was identified by previous explorers in the late 1980's
by rock chip sampling and shallow drilling which intersected zones of high-grade gold mineralisation
(2.2m at 18.1 g/t Au). Continuity of mineralisation was not sufficiently established and the area was left
without any further drilling since the late 1980's.
Via the use of electromagnetics in late 2020, Benz identified that previous drilling had only intercepted a
small part of the system. Large conductive zones outside the previous drilling were identified in 2020
and 2021 with potential to significantly increase the scale of this mineralisation.
The conductors identified in D Zone via FLEM and DHEM underlined a prospective area approximately
500m x 1,100m, which is comparable to the footprint covered by the existing 376,000oz resource at A-
B-C Zones.
Figure 3: D Zone long section with visible gold intercepts, pierce points of 2021 drillholes - note
EM21-228, 885m below surface with DHEM conductors associated with the Mine Horizon.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/1818/113949_b562af04c4deca58_003full.jpg
Unlike other companies who commit large amounts of capital to blanket drill on a tight spaced pattern,
Benz has chosen a more targeted exploration approach initially testing the scale of the mineralised
system before committing to tighter spaced resource definition drilling.
Commenting on the Company's recent exploration activities, CEO, Xavier Braud said:
"In the past 18 months, all the drilling completed by the Company has been extensional in nature.
Benz is determined not to drill any "verification holes", "twin holes" or other very closed spaced holes
into known mineralisation, sometimes referred to as "director's specials". A 1,000m hole was perfectly
justified because we knew how successful our direct detection method has been."
Benz has a lot of information on the style of mineralisation in the Mine Horizon from the very tight spaced
(down to 6m x 6m in some places) drilling completed on A, B and C Zones over the past 40 years by its
predecessors. Over 100,000m of drilling has historically been completed in an area 400m x 1,100m
resulting in an Resource estimate of 376,000oz at 7.9g/t Au with a large component of indicated
resource. With the benefit of hindsight, Benz's management acknowledges that a lot of unnecessary
drilling has been conducted on that area with all the associated unnecessary costs.
Benz's 50,000m of targeted drilling in 2021 has been a lot more successful thus far at growing the
mineral system's footprint and discovering new zones and new mineralisation styles.
D Zone has recently returned spectacular grade and width with 7.9m at 35.9g/t gold (EM21-168, see
ASX/TSXV release 2 December, 2021) 500 metres up dip from EM21-228.
Figure 4: Map view of D Zone drilling with EM conductors, drillhole collars coloured by gold
abundance and EM21-228
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/1818/113949_b562af04c4deca58_004full.jpg
The Mine Horizon is remarkably consistent throughout the property, with richer ore shoots associated
with NE oriented structures that also concentrated the sulphides. Benz is simply using electromagnetics
to find the sulphides leading the drill rigs to those ore shoots.
Figure 5: Mineralised Mine Horizon with quartz veining and pyrrhotite EM21-228 ~963.0m to
9975.5m. The ultramafic horizon continues at depth with less sulphides and quartz veins but is still
deformed and altered in biotite.
To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/1818/113949_b562af04c4deca58_005full.jpg
Follow up downhole EM (DHEM) helps refine targets. DHEM of hole EM21-228 shows multiple
conductors at the Mine Horizon level as well as in two shallower places in the hanging wall warranting
further drilling.
Benz's strategy for Eastmain was entirely based on the concept of quickly and efficiently grow the
existing deposit using electromagnetics. The Company has been consistently delivering that strategy for
the past 18 months.
Extremely slow laboratory turnaround on screen fire assays (metallic screen assays) has hampered
Benz's news flow delivery. The exclusivity deal with MSA Laboratories for the use of the first
PhotonAssay laboratory in North America will help accelerate the potential discovery rate with much
faster assay turnaround time.
Eastmain Gold Project
The Eastmain Gold Project, situated on the Upper Eastmain Greenstone Belt in Quebec, Canada,
currently hosts a NI 43-101 and JORC (2012) compliant resource of 376,000oz at 7.9gpt gold (Indicated:
236,500oz at 8.2gtp gold, Inferred: 139,300oz at 7.5gtp gold). The existing gold mineralisation is
associated with 15-20% semi-massive to massive pyrrhotite, pyrite and chalcopyrite in highly deformed
and altered rocks making it amenable to detection using electromagnetic techniques.
Multiple gold
occurrences have been identified by previous explorers over a 10km long zone along strike from the
Eastmain Mine with very limited but highly encouraging testing outside the existing resource area.
This press release was prepared under supervision and approved by Dr. Danielle Giovenazzo,
P.Geo, acting as Benz's qualified person under National Instrument 43-101.
Figure 6: Benz tenure over Upper Eastmain Greenstone Belt simplified geology.
To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/1818/113949_b562af04c4deca58_006full.jpg
About Benz Mining Corp.
Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) brings together an experienced team of geoscientists and
finance professionals with a focused strategy to unlock the immense mineral potential of the Upper
Eastmain Greenstone Belt in Northern Quebec, which is prospective for gold, lithium, nickel, copper and
other high-value minerals. Benz is earning a 100% interest in the former producing high grade Eastmain
gold mine, Ruby Hill West and Ruby Hill East projects in Quebec and owns 100% of the Windy Mountain
project.
The Eastmain Gold Project is situated within the Upper Eastmain Greenstone Belt in Quebec, Canada
and currently hosts a NI 43-101 and JORC (2012) compliant resource of 376,000oz at 7.9g/t gold
(Indicated: 236,500oz at 8.2g/t Au - Inferred: 139,300oz at 7.5g/t Au). The existing gold mineralisation is
associated with 15-20% semi-massive to massive pyrrhotite, pyrite and chalcopyrite making it
amenable to detection by electromagnetics.
Multiple gold occurrences have been identified by previous explorers over a 10km long zone along strike
from the Eastmain Mine with very limited but highly encouraging testing outside the existing resource
area. Benz has subsequently identified over 180 DHEM conductors over a strike length of 6km which is
open in all directions.
In 2021, Benz confirmed the presence of visible spodumene in a pegmatite at the Ruby Hill West project,
indicating lithium mineralisation which Benz intends to further explore in 2022.
This announcement has been approved for release by the Board of Directors of Benz Mining Corp.
For more information please contact:
Paul Fowler
Head of Corporate Development (Canada)
Benz Mining Corp.
Telephone: +1 416 356 8165
Email:
Xavier Braud
CEO, Head of Corporate Development (Aus)
Benz Mining Corp.
Telephone +61 8 6143 6702 email:
Forward-Looking Information:
Certain statements contained in this news release may constitute
"forward-looking information" as such term is used in applicable Canadian securities laws. Forward-
looking information is based on plans, expectations and estimates of management at the date the
information is provided and is subject to certain factors and assumptions, including, that the Company's
financial condition and development plans do not change as a result of unforeseen events and that the
Company obtains regulatory approval. 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 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.sedar.com
. 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.
Competent Person's Statements:
The information in this report that relates to Exploration Results is
based on and fairly represents information and supporting information compiled by Mr. Xavier Braud,
who is a member of the Australian Institute of Geoscientists (AIG membership ID: 6963). Mr. Braud is a
consultant to the Company and has sufficient experience in the style of mineralisation and type of
deposits under consideration and qualifies as a Competent Person as defined in the 2012 edition of the
"Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr.
Braud holds securities in Benz Mining Corp and consents to the inclusion of all technical statements
based on his information in the form and context in which they appear.
The information in this announcement that relates to the Inferred Mineral Resource was first reported
under the JORC Code by the Company in its prospectus released to the ASX on 21 December 2020.
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 and confirms that all material assumptions and
technical parameters underpinning the estimate 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 announcement.
Appendix 1: Drilling data
Table 1: Drillhole coordinates
Project
Hole_ID
Type
Core size
End Depth
UTM NAD
83Z18
Northing
UTM NAD
83Z18
Easting
Elevation
Azimuth
Dip
Eastmain
EM21-228
DDH
NQ
1017
5798720
700453
478
210
-75
Table 2: Mineralisation description