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Benchmark Metals Inc
Symbol BNCH
Shares Issued 159,773,786
Close 2021-09-09 C$ 1.04
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Benchmark outlines new Cu-Au-Ag zone at Lawyers

2021-09-09 09:30 ET - News Release

Mr. John Williamson reports

BENCHMARK DISCOVERS NEW COPPER-GOLD-SILVER POTENTIAL AND COMPLETES OVER 41,000 METRES WITH SIX DRILL RIGS

More than 41,000 metres of drilling have been completed with six drill rigs currently operating at Benchmark Metals Inc.'s continuing resource expansion program and advancement of new regional targets on its flagship Lawyers gold-silver project, located within a road-accessible region of the prolific Golden Horseshoe area of north-central British Columbia, Canada. The company is nearing completion of a comprehensive geological reconnaissance program consisting of rock and soil sampling, mapping, and geophysics, resulting in a significant expansion to its robust database that will provide further opportunities to outline new potential on highly prospective zones that remain open.

As a result of the regional exploration program, the company has generated the new Black Lake copper-gold-silver zone located within the southern portion of the project. The systematic exploration work has identified the Black Lake target as being highly prospective for copper-gold-silver mineralizing systems. Results from the 2021 exploration program at Black Lake have identified east-northeast and northwest mineralized corridors extending over 500 metres in strike length, with rock grab samples assaying up to 1.25 grams per tonne gold, 137 grams per tonne silver and 829 parts per million copper. These results verify the presence of copper-gold systems within the same regional host rocks known to host copper-gold porphyries such as the Kemess mine located approximately 45 kilometres to the southeast.

John Williamson, chief executive officer, commented: "The discovery of new copper-gold-silver mineralization on the project demonstrates the effectiveness of our methodology to consistently identify new and highly prospective zones for targeted systematic exploration. The 2021 regional exploration program has been very successful in outlining the grassroots potential of these large new target areas and verifies the robust nature of a variety of mineralizing systems that exist across the plus-20-kilometre Lawyers trend."

Black Lake exploration target

Initial exploration at the Black Lake target, located approximately six kilometres to the south of the Cliff Creek resource zone, has identified mineralized corridors trending to the northwest and northeast, with rock grab and soil samples indicating gold, silver and copper mineralization. The Black Lake zone provides new grassroots opportunities to explore for copper-gold mineralizing systems within the Late Triassic Takla group volcanic rocks and Black Lake intrusives that are located within the southern portion of the Lawyers project; these units are known to host the Kemess copper-gold mine approximately 45 kilometres along trend to the southeast. Within the Black Lake target zone are the highly prospective Black Lake alteration corridor, R3 stockwork and Fern Gully zones, which remain open.

The Black Lake alteration corridor consists of several metre-scale sulphidized massive quartz veins occurring as spaced-out ribs over a width of over 60 metres, extending along a northwest trend for approximately 500 metres. Mineralization within Takla group volcanics was extensively sampled along this trend, which subparallels a contact with Black Lake intrusive units. Significant rock grab samples within this prospect include assays up to 2.97 grams per tonne gold equivalent and 810 parts per million copper.

The R3 stockwork zone trends east-northeast for 100 metres along strike and consists of an intense hydrothermal breccia that extends over an area over 45 metres wide. Just to the north of the hydrothermal breccia is an exposed zone of intensely silicified pyrite-rich volcanic rocks, containing banded veins that host chalcopyrite mineralization. Significant rock grab samples within this prospect include assays up to 1.31 grams per tonne gold equivalent.

Silicified volcanics and stockwork veining exposed at the Fern Gully zone suggest mineralization extends approximately 500 metres along strike to the west-southwest of the R3 zone, supported by the 2021 ground magnetic and soil sampling surveys. Veining and mineralization at Fern Gully were also observed within Black Lake intrusives that are proximally located to the south. Significant rock grab samples within this prospect include assays up to 783 parts per million copper.

Airborne VTEM (versatile time-domain electromagnetic) geophysical and radiometric survey (in progress)

An airborne VTEM geophysical and radiometric survey is currently under way, spanning the southern half of the Lawyers gold-silver project, which includes the Black Lake target. This survey will allow for improved identification and targeting of electromagnetic (EM) and potassic anomalies associated with porphyry and epithermal mineralization. Targeting EM and potassic anomalies has been proved effective within the northern portion of the project with a number of new gold occurrences identified at surface as well as coincident soil anomalies.

Lawyers project exploration updates

The company has experienced significant delays for assay results due to high industry demand across Canada and the Golden Horseshoe region. Assay results are taking eight to 12 weeks for completion. Benchmark is beginning to receive initial drill hole results and will commence releasing assay results as they become available.

Drilling (as of Sept. 4, 2021):

  • 18,067 metres drilled at the Cliff Creek deposit;
  • 12,867 metres drilled at the AGB deposit;
  • 3,300 metres drilled at the Duke's Ridge deposit;
  • 2,734 metres drilled at Marmot;
  • 525 metres drilled at Marmot East;
  • 900 metres drilled at M-Grid;
  • 1,370 metres drilled at Silver Creek;
  • 790 metres drilled at Silver Pond Clay.

Geophysics (as of Sept. 4, 2021):

  • VTEM airborne geophysical survey in progress;
  • Ground magnetics/VLF (very low frequency) is nearing completion at the Arctic E-Grid, infill at 50-metre spacing will then be conducted over areas of interest until end of September.

Soil and rock sampling (complete):

  • 1,038 rock samples collected;
  • Majority of rock samples collected over the Silver Pond North, Marmot East and Black Lake discovery and exploration targets;
  • 2,736 soil samples collected;
  • Majority of prospect soil samples collected over Silver Pond North, Marmot East, Black Lake, Round Mountain and Kodah discovery and exploration targets.

Quality assurance and quality control

Results from samples were analyzed at ALS Global's 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, PGeol. 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 (over 10 grams per tonne gold). Analysis by four-acid digestion with 48-element ICP-MS analysis was conducted on all samples with silver and base metal overlimits being reanalyzed 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, MSc, PGeol, PGeo, a qualified person as defined by National Instrument 43-101.

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 over 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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