Benchmark Reports 108.36 g/t Gold and 911.2 g/t Silver over 7 Metres from New Exploration Target Area
Benchmark Reports 108.36 g/t Gold and 911.2 g/t Silver
over 7 Metres from New Exploration Target Area
Edmonton, Alberta--(Newsfile Corp. - June 14, 2019) -
Benchmark Metals Inc.
(TSXV: BNCH) (OTCQB: CYRTF) (WKN:
A2JM2X) (the "
Company
" or "
Benchmark
") is pleased to provide drilling plans and historical results at the Amethyst Gold
Breccia Zone (AGB), situated within the regional Lawyers Trend. Selected historical high-grade drilling intersected
108.36 g/t
gold
and
911.2 g/t silver
over
7 metres (
DDH81AS43) core length and
6.96 g/t gold
and
254.70 g/t silver
over
57.9 metres
(DDH82AS16) core length. The Lawyers Project is situated in the Stikine Terrane of northern British Columbia, Canada, and
falls within the prolific, mineral endowed 'Golden Horseshoe' (
see May 30 news release
).
Selected historical drilling intercepts and trench results at the AGB zone include:
High-grade drilling intercepts:
DDH81AS43* intersected
108.36 g/t gold
and
911.20 g/t silver
over
7 metres
; and
DDH85AU17-2* intersected
26.9 g/t gold
and
220.08 g/t silver
over
12 metres
.
High-grade, long drilling intercepts:
DDH82AS16* intersected
6.96 g/t gold
and
254.70 g/t silver
over
57.9 metres
;
DDH82AS17* intersected
4.06 g/t gold
and
409.06 g/t silver
over
40.9 metres
; and
Bulk tonnage drilling intercepts (see Figure 2 Section Map):
DDH82AS14* intersected
2.27 g/t gold
and
238.96 g/t silver
over
25.7 metres
;
DDH82AU16* intersected
3.78 g/t gold
and
82.4 g/t silver
over
35 metres
,
DDH80-18 intersected
2.02 g/t gold
and
123.77 g/t silver
over
30 metres
.
*The AGB Zone was mined between 1989-1992 and the areas where these intercepts occur may have been mined.
Selected Trench Channel Sample Composites:
5.12 g/t gold
and
20.79 g/t silver
over
27.03 metres
The historical results presented above, including those recently reported (see
May 31
and
June 4
news release) and displayed
on Figure 2 show that within the region of historical production the mineralization remains open at depth and along strike, with
high-grade historical intercepts from the deepest drill hole of this section returning
3.78 g/t gold
and
82.4 g/t silver
over
35
metres
core length. Based on limited information from historical mine level plans and ore block models, the historical workings
extend for ~230m along strike and ~200m depth from surface. However, drilling and mineralization extend beyond this to the
south, for a total strike length of 400m, suggesting there is potential for additional infill drilling and resource expansion.
Additionally, mineralization was intersected in DDH80-18 returning 2.2 g/t gold and 123.89 g/t silver over 30 metres core length
along a parallel mineralized structure occurring to the east of the main AGB zone, beyond the majority of the historical drilling,
and beyond the footprint of the historically mined area.
The surface expression of the mineralized system can be traced to the north, south, and east, beyond the existing drilling,
defined by large gold-in-soil anomalies, selective rock grab samples up to 22.20 g/t gold and 80.90 g/t silver, and selected
composite trench channel sample results up to 5.13 g/t gold and 20.79 g/t silver over 27.03 metres. These results are situated
within a zone of pervasive potassic alteration resulting in a large, +1 km
2
radiometric anomaly that is coincident with the known
mineralization. The anomaly continues to the north and to the south of AGB, across the valley towards Dukes Ridge and Phoenix
zones and remains untested.
The 2019 drilling program for the AGB Zone will begin by focusing on step-out and deeper drilling targeting mineralization where
the geochemistry, potassic alteration and geophysical anomalies indicate a total signature length of +500 metres (see Figure
#1). In addition, the limited historical drilling to the east of the main zone, as well as a large historic soil anomaly to the east,
suggest there is potential for a significant parallel lode.
A historical estimate from Wright (1985) defined a proven reserve at AGB of 452,600 tonnes grading 8.321 g/t Au and 263.5 g/t
Ag, with limited production occurring between 1989-1992. The potential quantity and grade stated above constitutes a historical
estimate, parts of which have been mined, and is not to be relied upon. A qualified person has not completed sufficient work to
classify the historical estimate as current mineral resources or mineral reserves, and therefore Benchmark is not treating the
historical estimate as current mineral resources or mineral reserves.
Figure #1 - Plan Map
The plan map provides drill targets across the AGB Zone with selected drill results, geochemistry and surface sampling over K-
radiometric geophysics.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6169/45631_89942c5fc401aa09_001full.jpg
Figure #2 - Map Section
The Map Section shows an area that was partially mined but remains open as indicated by drilling.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6169/45631_89942c5fc401aa09_002full.jpg
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.
Benchmark completes flow-through financing
Further to the news release of May 28, 2019, the Company is pleased to announce the third and final closing of its financing
announced on April 26, 2019, of 468,000 flow-through shares at a price of $0.22 per share for gross proceeds of $102,960 (the
“Offering”).
The securities for the Offering will bear legends restricting resale until October 11, 2019.
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, President
Tel: (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/45631