Benchmark Provides Year-End Gold-Silver Program Summary and Plans for 2022
Benchmark Provides Year-End Gold-Silver
Program Summary and Plans for 2022
Edmonton, Alberta--(Newsfile Corp. - December 21, 2021) -
Benchmark Metals Inc.
(TSXV: BNCH)
(OTCQX: BNCHF) (WKN: A2JM2X)
(the "
Company
" or "
Benchmark
") is pleased to report its year-
end summary highlights and initial plans for 2022. The 2021 program ended with near 84,000 metres of
drilling that will support an expanded an up-graded Mineral Resource Estimate for early 2022.
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.
John Williamson, CEO commented, "Benchmark awaits the majority of drill results from its large 2021
drill program to expand the gold-silver deposits and to delineate the potential at new discovery areas.
The 2021 program has provided significant gold-silver mineralization that will support expansion of the
existing deposits in all directions. Benchmark will distribute news as it becomes available from the
laboratory with a specific focus on grouping drill-holes in areas that contribute to increasing gold-silver
ounces. The Company is planning a significant $30 million program in 2022 to advance engineering,
permitting and add more near surface gold-silver ounces towards a Preliminary Economic Assessment
followed by a Feasibility Study."
During 2021, the Company delivered near 3 million ounces gold equivalent (gold + silver) in a Mineral
Resource Estimate that remains open for expansion in three potentially open-pitable deposits using a
$1,600 pit constrained gold price. The Company has now completed all drilling from the 2021 program
having completed 83,570 metres (m). The program was successful at expanding mineralization on-strike
length and to depth and provided new areas for at surface gold-silver ounces at the Connector Zone (
Oct
6, 2021
) and Mid-Cliff Creek Zone (
Nov 8, 2021
). In addition, the Marmot discovery zone is providing
potential for a satellite deposit across a major +1 kilometre structural corridor. Benchmark anticipates
significant expansion to an updated Mineral Resource Estimate from on-going assay results that will be
reported in early 2022.
2021 Highlights
2021 Maiden Resource Estimate (
May 14, 2021
)
2.1 Million Ounces of 1.62 grams per tonne (g/t) gold equivalent (*AuEq) Indicated, and
821,000 Ounces of 1.57 g/t *AuEq Inferred
83,570 metres drilled in 2021
The majority of drill results are yet to be received from the laboratory and will be reported in
early 2022 for deposit expansion areas and new targets areas
2021 Drill highlights
Cliff Creek Deposit - 3.05 metres (m) **core length of 56.65 g/t gold and 79.75 g/t silver or
57.65 g/t *AuEq within 68.58 m core length of 3.07 g/t gold and 11.72 g/t silver or 3.22 g/t
*AuEq (
Nov 8, 2021
).
Marmot Discovery Zone - 30.00 m **core length of 1.93 g/t gold and 70.33 g/t silver or 2.81
g/t *AuEq (
Oct 27, 2021
)
Benchmark closed a +$40 million bought deal private placement including a strategic investment
by Yamana Gold Inc. (
Dec 9, 2021
)
Investment by Yamana Gold that validates the quality of the Project and Management
*
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.
2022 Plans and Milestones
Updated Mineral Resource Estimate;
Preliminary Economic Assessment;
Technical and engineering work to support a Feasibility Study;
2022 will have a similar scope and scale work program with a $30 million budget with emphasis
on engineering, permitting, and results to support a mining endeavour, and;
Drill testing new targets for satellite deposit potential.
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.
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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