Benchmark Advances Engineering Towards Permitting a Gold and Silver Mine
Benchmark Advances Engineering Towards
Permitting a Gold and Silver Mine
Edmonton, Alberta--(Newsfile Corp. - March 8, 2022) -
Benchmark Metals Inc.
(TSXV: BNCH) (OTCQX:
BNCHF) (WKN: A2JM2X) (the "
Company
" or "
Benchmark
") is pleased to provide an update for
ongoing technical and engineering work to support the Preliminary Economic Assessment ("PEA") and
the Feasibility Study ("FS"). The Company anticipates completion of an updated Mineral Resource
Estimate ("MRE") that will provide a new mine plan into the PEA. Both MRE and PEA are targeting
completion during the first half of 2022 (Figure 1). P&E Mining Consultants have commenced modelling
work for the updated MRE and the majority of engineering for the PEA is completed. Benchmark's
flagship Lawyers Gold-Silver Project is located within a road accessible region of the prolific Golden
Horseshoe area of north-central British Columbia, Canada.
Ian Harris, Vice President Engineering commented, "In the coming months the Company will deliver a
Mineral Resource Estimate with drilling focused on significant infill drilling, resource expansion and
adding near surface gold-silver ounces.
In parallel Benchmark has advanced multiple engineering and
environmental studies and trade-offs guiding drilling with a mine building mindset.
We believe this will
drive significant value to the Preliminary Economic Assessment, to be completed in short order once
resources are updated. During 2022, Benchmark will rapidly advance to a mining decision with a $30
million budget for environmental assessment readiness, feasibility level design, and drilling."
Considerable work was completed in 2021 to advance engineering and technical aspects of the Project.
This work provides substantial advancement of the Project towards permitting and a subsequent mining
decision. To date, the Company has completed significant components required for the PEA. In
addition, considerable geotechnical and metallurgical work is completed to support the Feasibility Study.
To date, the Company is near completion of the following components:
Mineral Resource Estimate Update, awaiting final drill hole assay and model designs;
Mine Design Criteria, geotechnical and hydrogeological work complete awaiting final tonnage
estimates;
Tailings and Waste facilities design, conceptual and initial trade-off work complete.
Feasibility
level design awaiting final tonnages and geotechnical and hydrogeological work planned to begin
in May, 2022;
Metallurgy, comminution, grindability, and detailed recovery dataset complete;
Mining, final mine schedule is pending the updated MRE;
Processing, conventional flow-sheet design utilizing gravity recovery, whole-ore leaching and a
Merryl Crowe circuit complete;
Infrastructure, facilities and layout locations complete;
Equipment requirements selected, and;
Environmental & Permitting, baseline work is ongoing.
Infrastructure Improvements
The former mining road is approved and permitted for re-activation. The Road provides safer access
across the Company's project area and provides advanced infrastructure to be in-place when mine
construction and production begins. The Company has pre-ordered road building material in preparation
of a 2022 road building program to re-instate the former mining road, a legacy from the 1990's.
In addition, the Company has purchased a sample preparation lab ("Prep Lab") that will help reduce
lengthy wait times for assay results. The Prep Lab will provide multiple advantages by returning faster
results to enable more informed drilling, reduce the wait times for drilling news and provide the backbone
for a complete laboratory for future mine production. The Prep Lab will adhere to industry standard
methodology with appropriate QAQC and a Qualified Person review and approval, and will be installed
during the Spring to facilitate sample analysis thereafter.
Figure 1: Project Schedule
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6169/115875_b2388c4064e06b0a_001full.jpg
Engineering Team
Benchmark is working in conjunction with a world-class consulting team for completion of the PEA that
includes:
Knight Piésold Consulting for tailings and waste facility design;
Halyard Engineering for mineral processing design;
P&E Mining Consultants for resource estimation and calculation;
F. Wright Consulting for metallurgy;
Chu Cho Industries (First Nation company);
Sasuchan Environmental (First Nation company);
APEX Geoscience Ltd. for project geology, and;
One-eighty Consulting Group for Environmental, Social and Governance.
About Benchmark Metals
Benchmark Metals Inc. is a Canadian based gold and silver company advancing its 100% owned
Lawyer's Gold-Silver Project located in the prolific Golden Horseshoe of northern British Columbia,
Canada. The Project consists of three mineralized deposits that remain open for expansion, in addition
to +20 new target areas along the 20 kilometre trend. The Company trades on the TSX Venture
Exchange in Canada, the OTCQX Best Market in the United States, and the Tradegate Exchange in
Europe. Benchmark is managed by proven resource sector professionals, who have a track record of
advancing exploration projects from grassroots scenarios through to production.
www.metalsgroup.com
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "John Williamson"
John Williamson
, Chief Executive Officer
For further information, please contact:
Jim Greig
Email:
Telephone: +1 604 260 6977
NEITHER 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 ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain "forward-looking statements". Forward-looking statements
involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual
results, performance or achievements of the Company to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking statements. Any forward-
looking statement speaks only as of the date of this news release and, except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking
statement, whether as a result of new information, future events or results or otherwise.
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