Benchmark Outlines Gold-Silver Deposit Expansion Program
Benchmark Outlines Gold-Silver Deposit
Expansion Program
Edmonton, Alberta--(Newsfile Corp. - July 12, 2021) -
Benchmark Metals Inc.
(TSXV: BNCH)
(OTCQX: BNCHF) (WKN: A2JM2X) (the "
Company
" or "
Benchmark
") is pleased to announce its
detailed drill plan for the deposits where the objective is 1) classification drilling to convert inferred
ounces to indicated, and 2) significant expansion drilling where the deposits remain open (Figure1). This
approach to the drill campaign will convert inferred resources to indicated and provide significant
opportunity to grow all three of the deposits for a future expanded and updated resource for inclusion in a
feasibility study. Benchmark's flagship Lawyers Gold-Silver Project is road accessible and located within
the Golden Horseshoe area of north-central British Columbia, Canada.
John Williamson, CEO, commented, "The geological modelling has outlined areas in the deposits for
significant expansion. Benchmark has near 3 million gold-silver ounces (2.1 Moz Indicated + 0.8 Moz
Inferred) that will increase with targeted drilling within open-pitable areas that are near surface. The
Project has world-class potential with growing resource areas and new zones that could provide large
new discoveries across the 144km
2
land package."
Resource Expansion Drilling
A very successful late 2020 step-out and expansion drill campaign at the southern extent of the AGB
zone defined an area from surface to depth where all of the drilling has 60+gram AuEq times metre (g/t
AuEq*m) product, and extends over a strike extent of 150 metres (see
March 31st news release
). A
significant portion of the 13,700 metres of planned exploration drilling at AGB is targeting the expansion
of this zone at depth and along strike to the southwest (Figure 1), potentially adding significant gold and
silver ounces.
Outside of the modeled pit shell at Cliff Creek South (CCS), 2020 results include 38.05 m of 5.80 g/t
AuEq and 140 vertical metres below 20CCDD076 returned 21.98 m of 4.33 g/t AuEq. These results
demonstrate the significant potential to extend CCS both at depth and along strike to the southeast. A
similar scenario also exists at Cliff Creek North (CCN) where the pit is constrained by drilling and open
for expansion accordingly, but with high-grade mineralization along strike at depth, it highlights the
potential to continue expanding CCN. Approximately 24,000 metres of expansion drilling is planned at
Cliff Creek.
The Dukes Ridge deposit is only constrained by drilling, which at its deepest is less than 200 vertical
metres below surface (Figure 1). Significant high-grade intercepts in numerous locations towards the
base of the modelled pit reveal the significant potential to grow and expand the current resource at
depth. 9000+ metres have been planned to test this potential. Additional potential for growth could also
be realized in the connector zone between Dukes Ridge and Cliff Creek as we continue to drill off this
mineralized corridor.
Resource Classification Drilling
Benchmark has recently completed a classification block model to assist in the drill hole planning. The
model indicates the current classification of the block, inferred/indicated/measured. It will then determine
how many drill-holes are required to upgrade a block from one category to the next. This approach
allows Benchmark to design the classification drill program very effectively within the modelled pit shells,
upgrading any inferred resource to indicated. Between the three deposits a total of 37,000 metres of
classification drilling is planned.
Figure 1 -
Long sections at Cliff Creek, AGB, and Dukes Ridge showing AuEq g*m products of existing
drilling and 2021 classification and expansion drilling.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6169/89945_benchmark1enhanced.jpg
Quality Assurance and Control
Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver,
Canada (an ISO/IEC 17025:2017 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
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.
Benchmark is part of the Metals Group of companies, managed by an award-winning team of
professionals who stand for technical excellence, painstaking project selection and uncompromising
corporate governance, with a proven ability to capitalize on investment opportunities and deliver
shareholder returns.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/89945