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Benchmark Expands the Duke's Ridge to Phoenix Corridor at Depth and Along Strike to over 1 Kilometre

2020-02-14 03:05 ET - News Release

Edmonton, Alberta--(Newsfile Corp. - February 14, 2020) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) (the "Company" or "Benchmark") is pleased to summarize continued drilling success in the Duke's Ridge-Phoenix corridor which now measures greater than 1km in strike length with the identification of anomalous drilling at the Phoenix East Zone. New work at Duke's Ridge and Phoenix indicates that they form one system or a series of overlapping mineralizing systems. The Lawyers Project is situated in the Stikine Terrane of northern British Columbia, Canada, and falls within the prolific, mineral endowed 'Golden Horseshoe.'

John Williamson, CEO commented, "Drill confirmation of highly anomalous gold-silver mineralization at Phoenix East adds significant strike length and potential to the Duke's Ridge-Phoenix corridor. Drilling is providing continuity along the structure which remains open in all directions with bulk-tonnage and high-grade mineralization from surface. Results including 5.8 g/t gold and 128.7 g/t silver over 33.5 metres core length (Feb 8, 2019 news) from surface is providing compelling resource expansion possibilities that favours shallow, open pit mining methods."

During the 2019 exploration program, Benchmark drilled three exploratory holes in the Phoenix East Zone, a new discovery zone announced in 2019. The Zone occurs 150-250m along strike from the Phoenix Zone and 700m along strike from the heart of the Duke's Ridge mineralization. These holes were designed as a 1st pass test of large and coincident soil, magnetic and radiometric anomalies, which appeared to extend both the Phoenix and the Duke's Ridge trends. Encouraging results in all three holes include anomalous gold and silver over several meters and a narrow high-grade vein in 19PXDD004 (Table 2). These promising results suggest that the mineralizing system continues all the way to Phoenix East, which still has a significant area of surficial anomalies to test and will be a target for 2020 exploration.

The Duke's Ridge-Phoenix mineralized corridor has seen limited production from a near surface, high-grade vein. The Phoenix vein was partially mined via a small underground drift during 1991 that totaled 4,932 tonnes of material and produced 6,713 oz of gold and 296,084 oz of silver (Lane et al., 2018). Historical data, new results and a more thorough understanding of the mineralized system has provided a path to grow the zones. Additional drilling will provide more continuity to expand and develop near surface, gold-silver ounces in this area. Selected previously released results at Duke's Ridge include 50.66 g/t gold and 724.5 g/t silver over 6 metres core length (DD83DR07), 1.26 g/t gold, 37.82 g/t silver, or 1.73 g/t AuEq across 70.00 metres core length (19DRDD003), and at Phoenix, 46.9 g/t gold and 3,055.6 g/t silver over 2.87 metres core length (19PXDD001).

Infill sampling of the available 2015 drill core, yielded significant broad intervals of mineralization, not previously sampled or modelled. These results include DR15-05 which intersected 1.16 g/t gold and 36.18 g/t silver or 1.61 g/t AuEq across 67.75 metres core length (Nov 19, 2018 news; Figure 2). The excellent results from this program, coupled with those from historical drill programs empathize the potential to develop a significant resource within this 1+km mineralized corridor. This area will be a focus of the 2020 drill program.

Table #1 -2019 Dukes Ridge Drill Results

DrillholeFromToAu (g/t)Ag (g/t)AuEq (g/t)Interval (m)
DUKE'S RIDGE:
19DRDD00170.0080.000.5115.780.7110.00
including70.0072.001.3425.231.652.00
and134.90136.001.1448.001.741.10
19DRDD002157.00194.000.9022.931.1837.00
including165.00170.002.1673.813.085.00
19DRDD00398.00168.001.2637.821.7370.00
including98.7399.7247.401110.0061.280.99
and164.36165.0513.1073.2014.020.69
19DRDD00483.5498.002.30191.884.7014.46
including86.8890.227.85830.7118.233.34
19DRDD0059.0073.000.4116.360.6164.00
including9.0025.000.6436.181.1016.00
and56.0073.000.548.500.6517.00
PHOENIX:
19PXDD00188.0089.003.0538.103.531.00
and130.13133.0046.953055.4785.142.87
including131.00131.90132.508560.00239.500.90
and162.73167.001.569.431.684.27
19PXDD00282.0088.000.4243.200.966.00
including83.0084.230.88136.342.591.23
19PXDD00396.70104.000.4415.020.637.30
including 99.00100.001.3055.501.991.00
and122.75124.250.8611.651.011.50
and151.00152.000.9213.101.081.00
PHOENIX EAST:
19PXDD004130.22130.8611.252.3911.280.64
19PXDD00511.6813.680.4811.240.622.00
19PXDD00621.5322.880.4151.551.061.35
and55.1655.493.0296.004.220.33
and90.0292.000.69144.002.491.98

 

*Using an 80 to1 ratio of silver to gold $/oz
**Intervals are core-length. True width is estimated between 80 to 90% of core length.
***Drill hole results already reported

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Figure 1: Plan view map of 2019 drilling at the Duke's Ridge, Phoenix and Phoenix East zones

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6169/52411_55941278b41d9977_001full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6169/52411_55941278b41d9977_002.jpg

Figure 2: Cross-section of 19DRDD003

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6169/52411_55941278b41d9977_002full.jpg

Quality Assurance and Control

Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO 9001:2008 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 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
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/52411

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