Drill Rig Secured FOR Upcoming Lithium Drill Program
Suite 3000, Bentall Four 1055 Dunsmuir St, BC V7X 1K8 | T: +61 (8) 6143 6702 | Email: [email protected]
TSXV:BZ, ASX: BNZ 7 September 2023
DRILL RIG SECURED FOR UPCOMING LITHIUM DRILL PROGRAM
Highlights
Drill rig secured for drill tesƟng lithium pegmaƟte outcrops at its Ruby Hill West Lithium project
in James Bay, Quebec
Program consists of approximately 4,000m targeƟng RHW-1 and RHW-2 and newly discovered
M-1 and M-2 lithium pegmaƟte intrusions with a series of approximately 150m deep holes to
verify lateral and depth extent of each system
Previous drilling by Benz at RHW-2 intersected 26.4m at 1.01% Li2O from 7.4m including 3.7m
at 2.7% Li2O in 2022
Rock chips at M-1 are up to 5% Li2O at surface
Drill rig to arrive at site around 11 September with drilling to commence shortly thereaŌer
Benz Mining Corp. (TSXV: BZ, ASX: BNZ) (the Company or Benz) is pleased to announce that it has secured a
single diamond helicopter supported drill rig to test spodumene bearing pegma Ɵtes at its Ruby Hill West
Project in James Bay, Quebec.
Benz intends to undertake approximately 4,000m of drilling prior to the onset of winter, expected in late
October or early November, which makes helicopter flying difficult due to weather condi Ɵons and less
daylight Ɵme.
A series of 150m deep holes have been planned to target the outcropping spodumene bearing pegma Ɵtes
recently idenƟfied during the limited summer field season. Drilling will predominantly target 3 areas – Ruby
Hill West (RHW-2) and the Mikisiw (M-1 and M-2) outcrops.
Figure 1. Aerial view at Ruby Hill West looking to the west of the RHW-1 (to the right) and RHW-2 (to the leŌ) pegmaƟtes and 2023
trenching. The RHW-2 trench is 30m long with the collar from RHW22-06 located near the southern end of the trench.
Suite 3000, Bentall Four 1055 Dunsmuir St, BC V7X 1K8 | T: +61 (8) 6143 6702 | Email: [email protected]
Benz ExecuƟve Chairman, Evan Cranston, said:
“We are very excited with what our geologists have been able to iden Ɵfy in a very limited summer season.
We will conƟnue to conduct exploraƟon to idenƟfy more Li- pegma Ɵtes along the interpreted 25km lithium
trend at our Ruby Hill West Project in James Bay Quebec.
“Peeling back the moss and trenching has iden Ɵfied several large Li-pegmaƟtes, up to 30m thick at surface,
that contain spodumene and we are looking forward to seeing what this system does along strike and at depth
by drilling.
“We are very fortunate to have been able to secure a drill rig and team this year with all the compe ƟƟon in
this highly sought aŌer region and we look forward to drilling as many metres as we can this year prior to the
onset of the winter.”
Ruby Hill West (RHW-1 and RHW-2)
Ruby Hill West (RHW-1 outcrop) was first idenƟfied by Eastmain Resources in 2017, then drill tested by Benz
in April 20221. The first 5 holes drilled under the RHW-1 outcrop only intersected thinner Li-pegmaƟtes dykes
(RHW22-01: 0.31% Li2O over 4.48 m and RHW22-02: 0.62% Li 2O over 3 m). However, drilling to the south of
the RHW-1 outcrop iden Ɵfied the RHW-2 intrusion with RHW22-06 intersec Ɵng 26.4m at 1.01% Li 2O. This
intrusion was exposed by trenching in August 2023 and channel sampled; analyƟcal results are pending.
Trenching in 2022 and 2023 exposed the 2 pegmaƟte intrusions but drilling in this upcoming program will test
mostly the lateral and depth extent of RHW-2.
Figure 2. A substanƟal pegmaƟte outcrop at Ruby Hill West following removal of the layer of moss and vegetaƟon (this photo looks
to the south east). Drilling in the vicinity of this outcrop intersected 26.4m at 1.01% Li2O from 7.4m. This outcrop was discovered
aŌer the maiden drill program due to being under shallow cover.
1 Announcement: 1 August 2022 Ruby Hill West Discovery returns 26.4m at 1.01% Li2O from 7.4m including 3.7m at 2.7% Li2O
Suite 3000, Bentall Four 1055 Dunsmuir St, BC V7X 1K8 | T: +61 (8) 6143 6702 | Email: [email protected]
Mikisiw Outcrops (M-1 and M-2)
The Mikisiw targets were recently discovered by a brief field mapping season conducted by Benz in May and
June of this year. The Mikisiw pegmaƟte (M-1) outcrops for about 50m but with mulƟple blocks and possible
subcrops extending the surface expression of this intrusion. Rock chips at M-1 are up to 5% Li 2O at surface2.
This outcrop was stripped and channel sampled in 2023, with analyƟcal result sƟll pending.
Figure 3. Mikisiw Li-pegmaƟte outcrop looking to the southeast.
Figure 4. Spodumene crystals from the Mikisiw M-1 outcrop.
2 Announcement: 3 August 2023: New high grade LCT pegmaƟte discovered at Ruby Hill West
Suite 3000, Bentall Four 1055 Dunsmuir St, BC V7X 1K8 | T: +61 (8) 6143 6702 | Email: [email protected]
The M-2 outcrop is located approximately 2km west of M-1 and 420m east of a historical diamond drill hole
(DDH 90-EM-003) drilled by Kingswood ExploraƟons 1985 Limited in 1990 that intersected 30m of muscovite-
bearing pegmaƟte from 140.5m – 171.7m depth and was not assayed for lithium. This intersec Ɵon will be
drill tested in this program.
Drilling on the M Trend will consist of a number of 150m deep holes tesƟng the M-1 and M-2 outcrops as well
as targeƟng the pegmaƟte that was intersected in hole DDH 90-EM-03.
Benz will be undertaking geological reconnaissance along the trend in September to further iden Ɵfy other
potenƟal spodumene bearing pegmaƟte outcrops. To help with the idenƟficaƟon, we are concurrently flying
a high resolu Ɵon magne Ɵc and radiometric survey, and a LiDAR with orthophotos survey. Benz has also
acquired Maxar satellite imagery for the whole area.
Figure 5. LocaƟon of the new M-2 outcrop spodumene pegmaƟte discovery along the 25km+ lithium trend.
This release was prepared under supervision and approved by Dr. Danielle Giovenazzo, P. Geo, acting as
Benz’s qualified person under National Instrument 43-101 for the reporting of exploration and drilling results.
This announcement has been authorised for release by the Board of Benz Mining Corp.
For more informaƟon please contact:
Evan Cranston
ExecuƟve Chairman,
Benz Mining Corp.
Telephone: +61 8 6143 6702
email: [email protected]
Dannika Warburton
Principal
Investability Partners
Email: [email protected]
Telephone: +61 401 094 261
Suite 3000, Bentall Four 1055 Dunsmuir St, BC V7X 1K8 | T: +61 (8) 6143 6702 | Email: [email protected]
About Benz Mining Corp.
Benz Mining Corp. (TSXV:BZ, ASX:BNZ) brings
together an experienced team of geoscienƟsts and
finance professionals with a focused strategy to
unlock the immense mineral poten Ɵal of the
Upper Eastmain Greenstone Belt in Northern
Quebec, which is prospec Ɵve 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.
At the Eastmain Gold Project, Benz has idenƟfied a
combinaƟon of over 380 modelled in-hole and off-
hole DHEM conductors over a strike length of 6km
which is open in all direcƟons (final interpretaƟon
of some of the conductors sƟll pending).
In 2021, Benz confirmed the presence of visible
spodumene in a pegma Ɵte at the Ruby Hill West
Project, indica Ɵng lithium mineralisa Ɵon which
Benz intends to further explore in 2022.
Benz tenure over Upper Eastmain Greenstone Belt on
simplified geology.
About 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 1Moz at 6.1g/t gold
(Indicated: 384koz at 9.0g/t gold, Inferred: 621koz
at 5.1g/t gold). The exis Ɵng gold mineralisaƟon is
associated with 15-20% semi-massive to massive
pyrrhoƟte, pyrite and chalcopyrite in highly
deformed and altered rocks making it amenable to
detecƟon using electromagne Ɵc techniques.
MulƟple gold occurrences have been idenƟfied by
previous explorers over a 12km long zone along
strike from the Eastmain Mine with very limited
but highly encouraging tesƟng outside the exisƟng
resource area.
About Ruby Hill West Lithium Project
The Ruby Hill West Lithium project is a surface
occurrence of spodumene bearing pegma Ɵte
within the Ruby Hill West project, located 50km
due west of the Eastmain explora Ɵon camp. The
occurrence was first sampled in 2016 by Eastmain
Resources and then by Quebec government
geologists in 2018. Only limited sampling was
conducted by both groups.
In March 2022 Benz conducted a drilling program
at the Ruby Hill West lithium pegma Ɵte prospect
and reported a 31.2m at 0.9% Li 2O interval of
visible spodumene rich pegma Ɵte in the drilling
(ASX & TSX-V releases dated 29 April 2022
“MulƟple spodumene pegma Ɵtes intersected at
Ruby Hill West”)
Suite 3000, Bentall Four 1055 Dunsmuir St, BC V7X 1K8 | T: +61 (8) 6143 6702 | Email: [email protected]
Competent Person's Statement: The informaƟon in this announcement that relates to historical exploraƟon
results was first reported to the ASX in accordance with ASX LisƟng Rule 5.7. The Company confirms that it is
not aware of any new informa Ɵon or data that materially affects the informa Ɵon included in the original
market announcements.
The mineral resource esƟmate in this announcement was reported by the Company in accordance with ASX
LisƟng Rule 5.8 on 24 May 2023. The Company confirms it is not aware of any new informa Ɵon or data that
materially affects the informaƟon included in the previous announcement and that all material assumpƟons
and technical parameters underpinning the esƟmates in the previous announcement conƟnue to apply and
have not materially changed.
Forward-Looking InformaƟon: Certain statements contained in this news release may cons Ɵtute "forward-
looking informaƟon" as such term is used in applicable Canadian securiƟes laws. Forward-looking informaƟon
is based on plans, expectaƟons, and esƟmates of management at the date the informaƟon is provided and is
subject to certain factors and assump Ɵons, including, that the Company's financial condi Ɵon and
development plans do not change because of unforeseen events and that the Company obtains regulatory
approval. Forward-looking informaƟon is subject to a variety of risks and uncertainƟes and other factors that
could cause plans, es Ɵmates and actual results to vary materially from those projected in such forward-
looking informaƟon. Factors that could cause the forward-looking informaƟon in this news release to change
or to be inaccurate include, but are not limited to, the risk that any of the assumpƟons referred to prove not
to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or
cessaƟon in planned work, that the Company's financial condiƟon and development plans change, and delays
in regulatory approval, as well as the other risks and uncertainƟes applicable to the Company as set forth in
the Company's con Ɵnuous disclosure filings filed under the Company's profile at www.sedarplus.ca. The
Company undertakes no obligaƟon 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.