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Benchmark Metals Inc
Symbol BNCH
Shares Issued 156,782,563
Close 2021-07-19 C$ 1.08
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Benchmark Metals drills 15,700 m at Lawyers

2021-07-19 16:17 ET - News Release

Mr. John Williamson reports

BENCHMARK STARTS WORK PROGRAM WITH FOUR DRILL RIGS AND PROVIDES EXPLORATION UPDATE

Benchmark Metals Inc. has started resource expansion and definition drilling. The company has already completed in excess of 15,700 metres of drilling with two drill rigs positioned at the Cliff Creek deposit and two dill rigs located at the AGB deposit. The company has aggressively advanced new target areas with significant work completed to date that includes geophysics, mapping and soil, and rock sampling. Four drills are currently operating on site and two additional diamond rigs will be added in the coming weeks. Sample shipments to the laboratory are progressing, and initial drill assay results are anticipated in early August. Benchmark's flagship Lawyers gold-silver project is road-accessible and located within the Golden Horseshoe area of north-central British Columbia, Canada.

To date, 2021 drilling has focused on expansion and conversion to the indicated category at the AGB and Cliff Creek deposit areas. Drilling at the Marmot and Silver Pond discoveries and additional exploration targets will begin in the coming weeks.

John Williamson, chief executive officer, commented: "The company is operating one of the largest drill programs in Canada. Initial drilling has started and will target significant expansion areas to be included in an updated mineral resource estimate. Benchmark has planned a minimum of 100,000 drill metres to aggressively expand the deposit areas and generate new gold-silver ounces from new targets. The regional exploration and drill program will find new discoveries."

Gold-silver program update

  • Drilling
    • 15,700 metres drilled as of July 17;
    • Two additional drill rigs will be mobilized to site for a total of six drills;
  • Geophysics
    • Ground-based induced polarization (IP) has been completed over Silver Pond North;
    • Ground magnetics/VLF (very lower frequency) completed over Black Lake and Silver Creek areas, and the crew is moving on to an extension of the Silver Pond North grid;
  • Mapping
    • Silver Pond North target displays zoned argillic into quartz-sericite-pyrite and propylitic alteration. The area exhibits quartz stockwork veining on trend with the resource areas;
    • Silver Pond West target contains quartz stringers and abundant disseminated sulphide in a propylitic altered andesite;
    • Round Mountain target has moderate QSP alteration with disseminated sulphide;
    • Kodah target displays quartz veins hosted in a quartz-sericite-pyrite altered andesite;
    • E-grid target contains strongly propylitic-altered andesite with local potassic alteration. Quartz-sulphide veining and breccias are associated with potassic alteration, and much of the host andesite is also strongly silicified;
    • The Black Lake alteration corridor contains quartz ridges and moderate copper mineralization along a large mapped structure. There is multiphase quartz veining locally;
  • Soil and rock sampling
    • More than 700 rock samples collected as of July 17;
      • Majority of samples collected over the Silver Pond North and Marmot East discovery areas;
  • More than 1,900 soil samples collected as of July 17;
    • Kodah, Round Mountain and LaLa grids are now complete;
    • Silver Pond extension and Black Lake grids are in progress;
    • Extensions of the Marmot grids will begin in the coming weeks.

About Benchmark Metals Inc.

Benchmark Metals is a Canadian-based gold and silver company advancing its 100-per-cent-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 more than 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 record of advancing exploration projects from grassroots scenarios through to production.

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