Benz Mining Files NI 43-101 Technical Report for Eastmain Mine Gold Deposit Mineral Resource
Benz Mining Files NI 43-101 Technical Report for
Eastmain Mine Gold Deposit Mineral Resource
Vancouver, British Columbia--(Newsfile Corp. - September 5, 2019) -
Benz Mining Corp. (TSXV: BZ)
(the "
Company
" or
"
Benz
") announces that the Company has filed the NI 43-101 Technical Report titled "Technical Report and Mineral Resource
Estimate on the Eastmain Mine Property, James Bay District, Quebec", prepared by P&E Mining Consultants Inc. ("P&E") as
initially announced on August 8, 2019.
Benz has entered into an option agreement with Eastmain Resources Inc. to acquire a 100% interest in the former producing
Eastmain Mine Gold Project.
The Mineral Resource Estimate reported tonnes and contained gold ounces, stating
Total Indicated Mineral Resource of 899
kt at a grade of 8.19 g/t gold, 8 g/t silver and 0.13% copper (236.5 koz contained gold)
, and
Total Inferred Mineral
Resources of 579 kt at a grade of 7.48 g/t gold, 8.2 g/t silver and 0.16% copper(139.3 koz contained gold).
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Mineral Resource Estimates do
not account for mineability, selectivity, mining loss and dilution. Inferred Mineral Resources are normally considered too
speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral
Reserves. There is also no certainty that Indicated Mineral Resources will be converted into Mineral Reserves, once economic
considerations are applied; or that Inferred Mineral Resources will be converted to Measured and Indicated classifications
through further drilling, or into Mineral Reserves, once economic considerations are applied.
New Exploration Recommended
P&E considers that the Eastmain Mine Property contains a significant precious metal and base metal Mineral Resources that is
associated with a well-defined mineralized trend.
P&E considers that the property has potential for delineation of additional
Mineral Resources and that further exploration is warranted.
Within its recommendations for the property, P&E proposes:
A C$500,000 Phase I exploration program to focus on
-
target prioritization including reprocessing/ re-modelling of existing geophysical data, particularly airborne VLF and
ground IP against interpreted geology of known mineralization in targets such as the NW, Hillhouse and Julian targets and
the Main Zone;
-
Investigation of airborne VLF anomalies, particularly along the southeast projection of the Mine Trend that have not been
fully investigated - review with prospecting mapping and assaying;
-
BHEM on selected 2016 and 2017 drill holes, particularly at the NW, Hillhouse and Julian targets in order to attempt to
project mineralization already intersected in these earlier holes - helps set up drilling. Also, a couple of holes deep in each
of the A and B Zones of the Main Deposit to test for deeper projections of the Mineral Resource; and
-
Limited preliminary drilling on the NW, Hillhouse and Julian targets to follow-up past drill gold intercepts and check BHEM
projections.
A C$2,855,000 Phase II exploration program to focus on
-
Additional pulse TDEM for deeper penetration along the southeast Mine Trend;
-
Geology, Prospecting, Stripping and Assays on any new EM targets defined by TDEM or anything else of interest;
-
2,500 m drilling of new EM targets and BHEM on any mineralized intersections and/or on mineralized holes from Phase I;
and
-
5,000 m Mineral Resource expansion.
Benz Exploration staff and management are reviewing the Technical Report recommendations and compiling results from the
previous exploration programs along with historic work to define an appropriate work proposal for 2019/2020 years.
This press release was reviewed and approved by NI 43-101 defined Qualified Persons Antoine Yassa, P.Geo., OGQ and
Eugene Puritch, P.Eng., FEC, CET both of P&E Mining Consultants Inc.
The Technical Report, completed for Benz Mining Corp. on September 3, 2019. is available on SEDAR under the Company's
profile.
About Benz Mining Inc.
Benz is a Vancouver based mineral company publicly listed on the TSX Venture Exchange. It is focused on acquiring and
developing mineral base and precious metal assets in safe jurisdictions.
On behalf of the Board of Directors of Benz Mining Corp.
Miloje Vicentijevic, President and Chief Executive Officer
For more information please contact Benz Mining Corp. Telephone: 604.617.1239 Email:
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian
securities legislation, concerning the business and trading in the common stock of Benz Mining Corp. The forward-looking
information is based on certain key expectations and assumptions made by the Company's management. Although the
Company believes that the expectations and assumptions on which such forward- looking information is based are reasonable,
undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they
will prove to be correct. These forward-looking statements are made as of the date of this press release and the Company
disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information,
future events or results or otherwise, other than as required by applicable securities laws.
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.
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