Benchmark Discovers New Zone at Cliff Creek and Drills 18.24 g/t AuEq over 3.23 Metres
Benchmark Discovers New Zone at Cliff Creek and Drills
18.24 g/t AuEq over 3.23 Metres
Edmonton, Calgary--(Newsfile Corp. - January 8, 2020) -
Benchmark Metals Inc.
(TSXV: BNCH) (OTCQB: CYRTF) (WKN:
A2JM2X) (the "
Company
" or "
Benchmark
") - is pleased to report the discovery of a significant, new and broadly mineralized
zone, located just 50 metres east of the known mineralization at Cliff Creek. Results from Benchmark's drill hole 19CCDD025
include high-grade and bulk-tonnage intercepts comprising
2.09 g/t gold
and
87.83 g/t silver
or
3.19 g/t AuEq
across
36.30
metres
core length, including
11.83 g/t gold
and
513.21 g/t silver
or
18.24 g/t AuEq
across
3.23 metres
core length.
John Williamson, CEO of Benchmark, commented, "The discovery of this broad, new zone of both high-grade and bulk-tonnage
mineralization is highly encouraging as it could represent a parallel footwall structure to the main Cliff Creek zone, or the northern
extension of the Dukes Ridge structure where it coalesces with Cliff Creek (Figure 1). Either scenario represents a major
opportunity for Benchmark to pursue with further exploration in 2020. Benchmark's continued drilling success underscores the
potential for further discovery and delineation of additional mineralized zones within the vast regions of alteration that exist
across the 22,000 hectares of its relatively underexplored Lawyers Property".
Table #1
- Selected results from 19CCDD025
Hole
From (m)
To (m)
Gold (g/t)
Silver (g/t)
AuEq (g/t)*
Interval**
19CCDD025
15.00
39.00
0.85
25.06
1.17
24.00***
including
28.00
28.61
7.81
256.00
11.01
0.61
122.40
158.70
2.09
87.83
3.19
36.30
including
135.97
149.00
4.92
222.22
7.70
13.03
including
141.30
147.23
8.79
395.90
13.74
5.93
including
144.00
147.23
11.83
513.21
18.24
3.23
*Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio.
**Intervals are core-length.
True width is estimated between 80 to 90% of core length.
***Includes ~2.86m void and some intervals of poor recovery (underground workings).
Drill hole 19CCDD025 was designed to test shallow mineralization in the upper region of the Cliff Creek main zone (Figure 2).
The main zone was intersected between 15 and 39 metres, including a 2.86m void related to underground workings. The zone
included high-grade intervals within a broad zone of bulk-tonnage mineralization (Table 1) hosted in the hanging-wall of a steeply
northwest dipping fault, typical of the Cliff Creek zone. The hole was continued based upon indications of mineralization and
alteration in the footwall of the fault.
This resulted in the discovery of a second, deeper easterly zone
which yielded both
high-grade and bulk-tonnage style mineralization starting at 122 metres depth (Table 1). This deeper zone is also associated
with a major fault dipping steeply to the northwest, providing a parallel structural corridor for fluid flow and mineralization. The
mineralization occurs in a multi-phase hydrothermal breccia which contains fine grained sulfosalts, native silver, and is
associated with strong potassic alteration and faulting. This new zone is estimated to be within 50 metres of historical
underground workings yet was not discovered by historical drilling. Extending this new zone will be a focus for the 2020
exploration program.
Figure #1
- Plan map of drilling at the Cliff Creek zone and the approximate location of the new zone.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6169/51228_ce67f695e4b62975_001full.jpg
Benchmark has had previous success finding new zones within areas of historical drilling at Lawyers through a combination of
extending drill holes based on observations of alteration and/or extensive sampling of all drilling to better gauge some of the
more fine-grained and obscured mineralization styles that were previously unrecognized or ignored owing to weaker precious
metal prices (see
Dec 11 2019
and
Nov 19 2018
press releases). Benchmark believes the large potassic alteration anomalies
which cover parts of Lawyers have the potential for new discoveries. Of particular interest is the 4 by 3 km radiometric anomaly
which encompasses Cliff Creek, Dukes Ridge, Phoenix and AGB (Figure 1).
Figure #2
- Simplified cross-section of 19CCDD025 depicting the Cliff Creek main zone and the newly discovered eastern
zone at depth.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6169/51228_ce67f695e4b62975_002full.jpg
Quality Assurance and Control
Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO
9001:2008 accredited facility). The sampling program was undertaken by Company personnel under the direction of Rob
L'Heureux, P.Geol. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a
fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Analysis by four acid digestion
with 48 element ICP-MS analysis was conducted on all samples with silver and base metal over- limits being re-analyzed by
atomic absorption or emission spectrometry. Rock chip samples from outcrop/bedrock are selective by nature and may not be
representative of the mineralization hosted on the project.
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a
qualified person as defined by National Instrument 43-101.
About Benchmark Metals Inc.
Benchmark is a Canadian mineral exploration company with its common shares listed for trading on the TSX Venture Exchange
in Canada, the OTCQB Venture 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.
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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