Benchmark Plans Large Drilling Expansion Program to Add More High-Grade Gold and Silver Ounces to the Mineral Resource Estimate
Benchmark Plans Large Drilling Expansion
Program to Add More High-Grade Gold and
Silver Ounces to the Mineral Resource
Estimate
Edmonton, Alberta--(Newsfile Corp. - March 6, 2023) -
Benchmark Metals Inc.
(TSXV: BNCH) (OTCQX:
BNCHF) (WKN: A2JM2X) (the "
Company
" or "
Benchmark
") - is pleased to announce 20,000 metres
of Mineral Resource expansion drilling at its Cliff Creek and Dukes Ridge deposits. The drill program
has the potential for expansion of high-grade contiguous zones below the existing deposits that could
provide the potential for underground mining in a future Economic Study. Drilling plans include step-out
and infill drilling below the open-pits, in areas that were not included in the 2022 Preliminary Economic
Assessment (PEA). The potential for expansion at depth is noted with selected drill intersections (see
Figure #1) including
21.00 metres
at 4.04 g/t gold and 84.12 g/t silver or
5.09 g/t AuEq
* in drill hole
21CCDD049 and
13.74 metres
at 6.43 g/t gold and 378.59 g/t silver or
11.16 g/t AuEq
* in drill hole
22DRDD003. Benchmark's flagship, 100% owned Lawyers Gold-Silver Project (the "Project") is located
within a road accessible
region of the prolific Golden Horseshoe area of north-central British Columbia,
Canada.
John Williamson, CEO & Director commented, "The deposits remain open for additional resource
growth with high-grade gold and silver mineralization below the existing deposits. Expansion drilling is
anticipated to significantly improve the Project economics by adding more high-grade mineralization to
the mine schedule. The areas below the deposits contain four (4) to fifteen (15) metre wide zones of
consistent high-grade gold and silver mineralization. The plunging high-grade mineralized zones
appears to be 50 to >100 metres in length and in some areas the length is still unconstrained, both Cliff
Creek and Dukes Ridge are open at depth."
Expansion Drilling
Benchmark drilling to date has focused on the majority of drilling to delineate three open pit constrained
deposits with a global Mineral Resource Estimate (MRE) of 3.14 Moz at 1.45 g/t AuEq (1.16 g/t Au and
22.9 g/t Ag) Indicated and 0.415 Moz at 2.63 g/t AuEq (2.2 g/t Au and 36.1 g/t Ag) Inferred (
June 11,
2022
). Benchmark is now planning additional drilling to further expand the MRE to depth. The Cliff Creek
Deposit has limited drilling outside and below of the pit shells and has already outlined a MRE of
141,000 oz at 3.80 g/t AuEq (3.49 g/t Au and 55.55 g/t Ag) in Measured and Indicated and 315,000 oz
at 4.26 g/t AuEq (3.88 g/t Au and 65.46 g/t Ag) in Inferred category.
The 2023 drilling will include a combination of step-down and infill drilling for resource expansion. In
addition, a machine learning Artificial Intelligence (AI) model has predictively outlined grades and further
characterize the Resource to depth. The high-grade mineralized zones are controlled by major
structures, which the drilling will continue to target at depth and along strike. The structural models
developed by Benchmark show good agreement with the AI and geochemistry models and show the
potential for expansion of the high-grade mineralized zones both at depth and along strike.
The Cliff Creek Deposit extends across a 1.6 kilometre strike-length. Mineralization plunges to depth
with high-grade zones that remain open
>550 metres vertical depth at Cliff Creek North
and
>450
metres vertical depth at Cliff Creek South
, highlighting the potential for underground mining
scenarios. Drilling is planned to define the extent of these high-grade mineralized zones both along
strike and at depth, which are currently unconstrained in several directions. A planned 700 metre drill
hole has potential to significantly expand mineralization to depth.
The deepest holes drilled at Dukes Ridge to date have extended mineralization, which remains open to
nearly
300 metres vertical depth
. Deeper drilling at Duke's Ridge has potential to extend
mineralization to near
500 metres vertical depth
.
Figure #1
- 2023 Resource Expansion Drill Plan
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6169/157126_benchmarkimage1.jpg
*
Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio. Intervals given for drill holes are core-
length. True width is estimated between 75 to 95% of core length.
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 kilometer 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.
Quality Assurance and Control
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.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "John Williamson"
John Williamson
, Chief Executive Officer
For further information, please contact:
Jim Greig
Email:
Telephone: +1 780 437 6624
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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