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Benchmark Drills 66.00 Metres of 2.98 g/t AuEq Expanding near Surface Mineralization at the AGB Zone

2021-03-31 06:02 ET - News Release

Edmonton, Alberta--(Newsfile Corp. - March 31, 2021) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the "Company" or "Benchmark") is pleased to announce new results from a series of drill holes at the AGB zone including, 66.00 metres (m) of 2.34 grams per tonne (g/t) gold and 51.48 g/t silver or 2.98 g/t gold equivalent* (AuEq) and 5.00 m of 15.31 g/t gold and 180.80 g/t silver or 17.57 g/t AuEq in drill hole 20AGBDD039. This drill hole was the most southerly drilled during the 2020 campaign and returned high-grade gold and silver intervals beginning near to surface. A broad zone of strong mineralization is emerging at the southern extent of the >650 m long AGB zone that remains open at depth and along strike. Planning for the 2021 drill program is underway to target the southern extents due to its potential to add additional near-surface, open-pittable gold and silver ounces to the AGB deposit. Benchmark's flagship Lawyers Gold-Silver Project is located in a road-accessible area of the Golden Horseshoe in north-central British Columbia, Canada.

John Williamson, CEO, commented, "These drill results demonstrate strong continuity and higher-grade gold and silver material near surface. The results are providing a path to expand the AGB zone to the south and to depth. This zone is showing potential to become a higher-grade, initial open pit mine that would return substantial economics in the opening years of a mining scenario."

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Figure 1 - AGB plan map and long section

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6169/78982_36c8bbf9543d2967_001full.jpg

As illustrated in Figure 1 the southern extent of the AGB zone has seen very limited historical drilling with most of the drill holes in this region being completed as part of a late 2020 step-out and expansion drill campaign. With very encouraging visual alteration and mineralization observed in the first few holes the program was expanded to 10+ holes, all of which intersected significant mineralization. New results (see press release Mar 17, 2021) has extended the zone of bulk-tonnage and high-grade mineralization. The southern area of AGB continues to demonstrate the continuity of the mineralized system from surface to depth. The 2020 drill results in this particular area are the deepest drilled to date, all have a 60+gram AuEq times metre (g/t AuEq*m) product, and extend over a strike extent of 150 metres.

Table 1: Drill Results Summary from the AGB Zone.

Drillhole
FROM (m)TO (m)INTERVAL (m)Au (ppm)Ag (ppm)AuEq (ppm)
20AGBDD015
83.00126.0043.000.2424.950.55
or83.00109.0026.000.3427.680.69

191.00203.0012.000.1538.620.63
20AGBDD018
11.0023.0012.001.2630.831.64

78.0099.0021.000.4534.320.88
incl81.0089.008.001.0746.151.65

206.00214.008.000.1729.360.54
20AGBDD025
32.0038.206.200.1427.670.49

65.8570.004.150.5452.071.19

79.1094.1815.080.4659.291.20
20AGBDD026
11.5291.8680.340.4534.020.87
incl46.0060.9414.941.0950.181.72

187.03189.142.110.5649.411.18
20AGBDD03366.9588.0021.050.2037.290.67
20AGBDD039
17.0083.0066.002.3451.482.98
incl37.0042.005.0015.31180.8017.57
incl37.0039.002.0022.90144.5024.71
and68.0069.001.0012.1551.9012.80
and71.0072.001.0017.0532.9017.46
20AGBDD040
215.00222.007.000.7282.731.76
incl220.80222.001.203.65362.008.17
20AGBDD041
44.4753.338.860.1941.070.70

91.80105.0013.200.1827.220.52
20AGBDD043
***

113.35190.4077.051.0743.101.61
incl160.40180.7120.313.6497.294.86
incl175.40178.002.6021.90228.0024.75

208.74212.003.260.9431.661.34
20AGBDD048
****

156.00195.0039.000.3411.520.49
incl176.00184.008.000.729.950.85
20AGBDD049
100.00166.0066.000.6321.510.89
incl121.00139.0018.000.8230.081.20
and161.00162.661.6610.4339.2210.92
incl162.00162.660.6619.6054.7020.28
20AGBDD053
*****

122.18126.874.690.2913.080.45

155.66198.0042.341.8799.693.11
incl162.76163.450.698.50323.0012.54
and191.00195.774.7711.97547.1018.80
incl191.00194.003.0016.17717.6725.14
incl192.00193.001.0021.301680.0042.30
20AGBDD055
29.0047.0018.000.2426.140.57

94.00130.5036.500.0920.680.35

254.00257.343.341.08217.023.79
incl255.07255.650.586.081120.0020.08
20AGBDD056
45.3847.582.200.3648.410.97

80.00112.0032.000.5150.421.14
20AGBDD057
******

104.00150.0046.000.5737.371.04
incl106.00107.201.2010.60335.0014.79

 

* 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.
*** Mineralized backfill with poor recovery from 155.66-178.00m
**** Includes 4.5m void with sampled backfilled material
***** Calculation includes a void from 188-191m
******Sampled backfill and poor recovery 107.20-122.00m

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Figure 2 - Cross Section of drill hole 20AGBDD039. This section is oblique to the strike of the mineralization, as shown on Figure 1. This gives the perception of a relatively shallow dip to the mineralization, however it has a typical steep dip to the southwest and remains open at depth and along strike.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6169/78982_36c8bbf9543d2967_002full.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 mineral exploration company focused on proving and developing the substantial resource potential of the Lawyer's Gold-Silver Project, located in the prolific Golden Horseshoe of northern British Columbia, Canada. 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: jimg@BNCHmetals.com
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/78982

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