Benz Secures Tenure as Part of Upper Eastmain Greenstone Belt Consolidation
Benz Secures Tenure as Part of Upper
Eastmain Greenstone Belt Consolidation
HIGHLIGHTS
Benz footprint expanded with acquisition of Windy Mountain Project, a western
extension of Upper Eastmain Greenstone Belt
69 new claims granted over 36km
2
of prospective tenure, adding approximately 10km
additional greenstones strike to the Benz portfolio
Sulphides (amenable to detection by electromagnetics) identified in outcrops associated
with deformed and altered gabbro with quartz veins; outcropping altered metasediments
also observed
Historical surface samples show anomalous nickel and copper assays in trench samples
returning 0.08% Cu, 0.9% Zn, 0.05% Ni, and 0.8g/t Ag and 0.02% Cu, 0.02% Ni and 0.03%
Co
Pegmatites were identified at several localities - samples collected; assays pending
Toronto, Ontario--(Newsfile Corp. - October 28, 2021) - Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) (the
Company
or
Benz
) is pleased to announce the recent granting from application of additional
prospective ground adjacent to its Ruby Hill West Project. The newly acquired tenement package
contains 69 claims covering 36km
2
, increasing Benz' dominant Upper Eastmain land position to
256km
2
.
CEO Xavier Braud commented
:
"Our strategy is to fast-track growth through discovery, and by
rapidly expanding our footprint in a district where we have already made several mineralised
discoveries, we lay the foundations for continued success. What is exciting is that the Upper Eastmain
greenstone belt is proving to not only be highly prospective for gold, but also for nickel, copper,
lithium. We are fortunate to have consolidated an enviable and dominant land position covering the
mineralised district."
Figure 1: Windy Mountain and Ruby Hill West Projects with recorded mineral occurrences.
To view an enhanced version of Figure 1, please visit:
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CEO Xavier Braud commented
: "Our analysis of historical work conducted in the Windy Mountain
area revealed recorded mineral occurrences coincident with the geology at Ruby Hill West. We were
fortunate that this area was not under claim as there has been a lot of tenure activity in the area
following our success at Eastmain. With this addition, we bolt on an additional 10km of prospective
strike.
"We have always held the belief that the Upper Eastmain Greenstone Belt has the potential to host its
own mining camp with possibly several deposits and commodities such as gold, nickel, copper and
lithium, just like many other Archean greenstone belts in the world.
"The presence of pyrrhotite associated with favourable rock types in the Windy Mountain area is a
great sign as we know we can track this mineral with electromagnetics, a methodology we have
successfully employed at our high-grade Eastmain Gold Project.
"Controlling a large portion of a greenstone belt bolsters our opportunity for discovery. In addition to
the Eastmain gold deposit and the lithium bearing pegmatite at Ruby Hill West, we also have multiple
base and precious metals occurrences at Ruby Hill East and West. With the addition of Windy
Mountain, we have one more metallic occurrence and several pegmatite outcrops.
"Our team has already done a reconnaissance prospecting campaign to the area and collected
multiple grab samples of all styles of mineralisation on outcrops and blocs. During this campaign, our
teams have also identified occurrences of pegmatite. This is a welcome surprise and confirms the
potential of the area for lithium mineralisation, a potential which we shall fully investigate in parallel
with our gold drilling."
Figure 2: Upper Eastmain Greenstone Belt simplified geology, Benz tenure in blue, newly acquired
Windy Mountain Project in red.
To view an enhanced version of Figure 2, please visit:
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Figure 3: Sampling pegmatite outcrop at Windy Mountain.
To view an enhanced version of Figure 3, please visit:
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Figure 4: Pegmatite Outcrop at Windy Mountain.
To view an enhanced version of Figure 4, please visit:
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Figure 5: Sulphide mineralisation in outcrop at Windy Mountain.
To view an enhanced version of Figure 5, please visit:
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Figure 6: Quartz Sulphide vein in mafic host rock at Windy Mountain.
To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/1818/101115_benzfigure6.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 acquire and develop mineral projects with an emphasis
on safe, low risk jurisdictions favourable to mining development. 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.
About the 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. Benz
has subsequently identified over 150 DHEM conductors over a strike length of 6km which is open in all
directions.
Figure 7: Benz tenure over Upper Eastmain Greenstone Belt simplified geology.
To view an enhanced version of Figure 7, please visit:
https://orders.newsfilecorp.com/files/1818/101115_a44bc956e447593a_007full.jpg
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.
Approved for release by the Board 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 (Australia)
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.
JORC 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 mineralization 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: JORC Tables
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria
JORC Code explanation
Commentary
Sampling
techniques
Nature and quality of sampling (eg cut channels, random
chips, or specific specialised industry standard
measurement tools appropriate to the minerals under
investigation, such as down hole gamma sondes, or
handheld XRF instruments, etc). These examples should
not be taken as limiting the broad meaning of sampling.
Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any
measurement tools or systems used.
Aspects of the determination of mineralisation that are
Material to the Public Report.
In cases where 'industry standard' work has been done
this would be relatively simple (eg 'reverse circulation
drilling was used to obtain 1 m samples from which 3 kg
was pulverised to produce a 30 g charge for fire assay'). In
other cases more explanation may be required, such as
where there is coarse gold that has inherent sampling
problems. Unusual commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of detailed
information.
Assay results in this press release are historical assay results
available on SIGEOM, Quebec's public geological
information portal.
Samples are registered as trench samples. The
methodology is not detailed in the historical information
but trench samples are typically composite rock chips
samples over the length of a hand dug trench
Drilling
techniques
Drill type (eg core, reverse circulation, open-hole hammer,
rotary air blast, auger, Bangka, sonic, etc) and details (eg
core diameter, triple or standard tube, depth of diamond
tails, face-sampling bit or other type, whether core is
oriented and if so, by what method, etc).
No drilling reported
Drill sample
recovery
Method of recording and assessing core and chip sample
recoveries and results assessed.
Measures taken to maximise sample recovery and ensure
representative nature of the samples.
Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse material.
No drilling reported
Logging
Whether core and chip samples have been geologically
and geotechnically logged to a level of detail to support
appropriate Mineral Resource estimation, mining studies
and metallurgical studies.
Whether logging is qualitative or quantitative in nature.
Core (or costean, channel, etc) photography.
The total length and percentage of the relevant
intersections logged.
No drilling reported
Sub-sampling
techniques
and sample
preparation
If core, whether cut or sawn and whether quarter, half or
all core taken.
If non-core, whether riffled, tube sampled, rotary split, etc
and whether sampled wet or dry.
For all sample types, the nature, quality and
appropriateness of the sample preparation technique.
Quality control procedures adopted for all sub-sampling
stages to maximise representivity of samples.
Measures taken to ensure that the sampling is
representative of the in situ material collected, including
for instance results for field duplicate/second-half
sampling.
Whether sample sizes are appropriate to the grain size of
the material being sampled.
No drilling reported
Quality of
assay data
and
laboratory
tests
The nature, quality and appropriateness of the assaying
and laboratory procedures used and whether the
technique is considered partial or total.
For geophysical tools, spectrometers, handheld XRF
instruments, etc, the parameters used in determining the
analysis including instrument make and model, reading
times, calibrations factors applied and their derivation,
etc.
Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory checks)
and whether acceptable levels of accuracy (ie lack of
bias) and precision have been established.
Benz does not have a record of the original laboratory
certificates
Samples
Criteria
JORC Code explanation
Commentary