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Benchmark Metals Inc
Symbol BNCH
Shares Issued 156,782,563
Close 2021-03-02 C$ 1.08
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Benchmark talks high-priority drill targets at Lawyers

2021-03-03 06:36 ET - News Release

Mr. John Williamson reports

BENCHMARK PRIORITIZES NEW GOLD-SILVER EXPLORATION TARGETS FOR THE 2021 DRILL PROGRAM

Benchmark Metals Inc. released an update on high-priority targets for drill testing during the 2021 exploration program. The company has outlined six initial drill targets that includes the Marmot, Marmot East, M-Grid, Gifford's Edge, Lala and Silver Pond zones. An additional 14-plus targets will see geological work to advance them to the drill-ready stage. All new high-priority target areas have yielded significant gold-in-soil anomalies and high-grade rock samples over large areas of prospective structures, indicating the potential to discover new mineralized zones. The Marmot zone is the most advanced new target that yielded 101.00 metres core length of 0.82 gram per tonne gold equivalent in hole 20MLDD005 (see release dated Jan. 13, 2021). Marmot will see drilling to expand gold-silver mineralization across the two-kilometre-by-three-kilometre surface expression. 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, chief executive officer, commented: "Over 60 per cent of the 140-square-kilometre package remains unexplored and/or underexplored providing potential for additional discoveries across the plus-20-kilometre-long, mineralized gold-silver system. Testament to this are the new gold-silver targets that have provided high-grade results at surface and very encouraging drill holes at the Marmot zone. The new high-priority targets exhibit the same types of alteration and mineralization observed at Cliff Creek, three kilometres to the northwest."

The advanced targets have undergone systematic exploration to identify areas for drilling. The targets exhibit the same type of anomalous and coincident geological features that are seen at the Cliff Creek zone. This includes:

  • Radiometric geophysics that delineate areas of potassic alteration where fluids have carried and deposited gold and silver at surface along with the alteration;
  • Ground magnetic geophysics that delineate fault systems, analogous with other zones on the Lawyers trend (Cliff Creek, Dukes Ridge, AGB and Phoenix);
  • Targeted mapping that identified prospective host rocks, alteration and associated silicified hydrothermal breccias and multigenerational quartz veining with sulphides;
  • Anomalous soil and rock geochemistry that returned grab samples.

This methodology has now successfully translated into a new discovery at the Marmot zone and continues to be utilized across the entire 140-square-kilometre land package. The 14-plus targets defined by large areas of anomalous gold and silver in soils are providing a pipeline of new discovery targets that will be advanced to the drill-ready stage in 2021.

Phase 1 -- regional new target drilling

At the Marmot zone, systematic soil and rock grab sampling has identified a highly prospective two km by three km region. Drilling at Marmot returned significant near-surface gold and silver mineralization in four of five holes during 2020 drilling. The current dimensions of the Cliff Creek, Dukes Ridge and AGB zones could collectively fit within the Marmot zone geochemical anomaly and with only five drill holes into this zone the subsurface mineralized footprint could be substantial. This zone will see an aggressive drill program with the goal of defining a significant gold-silver mineral resource. The Marmot zone provided strong results from its first drill test, yielding 101.00 metres of core length of 0.82 g/t AuEq with four separate high-grade intersects with the best assaying 14.52 g/t AuEq over 2.00 m core length.

Multiple new areas are ready for drill testing and early-stage work including M-Grid, Marmot, Marmot East and Lala zones. Both Marmot East and Lala zones represent two new drill-ready targets that remain undrilled but exhibit the same coincident anomalous features as the Cliff Creek zone (plus 1.2 km mineralized area). The Marmot zones could rival that of the Cliff Creek zone for total footprint and size potential. Planning is under way for a significant 2021 drill program at Marmot and Marmot East to expand on the mineralization and potentially add satellite resources to the Cliffs Creek-AGB-Dukes deposits.

Phase 2 -- development targets for drilling

The company has established a total 14-plus gold-silver targets that will require additional geological work to identify drill collar locations with the anticipation of drill testing them during the 2021 exploration program. Multiple new gold and silver soil anomalies have been identified to the north of the Cliff Creek, Dukes Ridge-Phoenix and AGB resource zones, extending mineralized trends to the northwest for greater than two km and remaining open. These newly identified zones expand the anomalous gold and silver footprint at Lawyers to greater than eight km strike length and up to seven km in width. This suggests a large and robust mineralizing system with significant potential for additional peripheral mineralized prospects, providing more opportunities to discover and drill off shallow resources that could contribute to future resource development of the Lawyers gold-silver project. In addition, multiple new targets are located in the southern extents of the property, lying south of the main zones (Cliff Creek, Dukes Ridge and AGB zones).

Quality assurance and control

Results from samples were analyzed at ALS (geochemistry division) in Vancouver, Canada (an ISO/IEC (International Organization for Standardization/International Electrotechnical Commission) 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 (plus 10 g/t Au). Analysis by four-acid digestion with 48-element ICP-MS (inductively coupled plasma mass spectrometry) 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 mineral exploration company focused on proving and developing the substantial resource potential of the Lawyers 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 record of advancing exploration projects from grassroots scenarios through to production.

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