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Benchmark Metals Inc
Symbol BNCH
Shares Issued 96,379,939
Close 2020-01-08 C$ 0.46
Recent Sedar Documents

Benchmark drills 36.3 m of 3.19 g/t AuEq at Cliff Creek

2020-01-08 06:03 ET - News Release

Mr. John Williamson reports

BENCHMARK DISCOVERS NEW ZONE AT CLIFF CREEK AND DRILLS 18.24 G/T AUEQ OVER 3.23 METRES

Benchmark Metals Inc. has discovered a significant, new and broadly mineralized zone, located just 50 metres east of the known mineralization at Cliff Creek. Results from Benchmark's drill hole 19CCDD025 include high-grade and bulk-tonnage intercepts comprising 2.09 grams per tonne gold and 87.83 g/t silver or 3.19 g/t gold equivalent across 36.30 m core length, including 11.83 g/t gold and 513.21 g/t silver or 18.24 g/t AuEq across 3.23 m core length.

John Williamson, chief executive officer of Benchmark, commented: "The discovery of this broad, new zone of both high-grade and bulk-tonnage mineralization is highly encouraging as it could represent a parallel footwall structure to the main Cliff Creek zone, or the northern extension of the Dukes Ridge structure where it coalesces with Cliff Creek. Either scenario represents a major opportunity for Benchmark to pursue with further exploration in 2020. Benchmark's continued drilling success underscores the potential for further discovery and delineation of additional mineralized zones within the vast regions of alteration that exist across the 22,000 hectares of its relatively underexplored Lawyers property."

                          SELECTED RESULTS FROM 19CCDD025

Hole               From            To      Gold       Silver      AuEq*      Interval**
                    (m)           (m)     (g/t)        (g/t)      (g/t)             (m)

19CCDD025         15.00         39.00      0.85        25.06       1.17        24.00***
including         28.00         28.61      7.81       256.00      11.01            0.61
                 122.40        158.70      2.09        87.83       3.19           36.30
including        135.97        149.00      4.92       222.22       7.70           13.03
including        141.30        147.23      8.79       395.90      13.74            5.93
including        144.00        147.23     11.83       513.21      18.24            3.23

* Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio.
** Intervals are core length. True width is estimated between 80 to 90 per cent of 
core length.
*** Includes about 2.86 m void and some intervals of poor recovery (underground 
workings).

Drill hole 19CCDD025 was designed to test shallow mineralization in the upper region of the Cliff Creek main zone. The main zone was intersected between 15 and 39 metres, including a 2.86 m void related to underground workings. The zone included high-grade intervals within a broad zone of bulk-tonnage mineralization hosted in the hangingwall of a steeply northwest-dipping fault, typical of the Cliff Creek zone. The hole was continued based upon indications of mineralization and alteration in the footwall of the fault. This resulted in the discovery of a second, deeper easterly zone, which yielded both high-grade and bulk-tonnage-style mineralization starting at 122 m depth. This deeper zone is also associated with a major fault dipping steeply to the northwest, providing a parallel structural corridor for fluid flow and mineralization. The mineralization occurs in a multiphase hydrothermal breccia, which contains fine-grained sulphosalts and native silver, and is associated with strong potassic alteration and faulting. This new zone is estimated to be within 50 metres of historical underground workings yet was not discovered by historical drilling. Extending this new zone will be a focus for the 2020 exploration program.

Benchmark has had previous success finding new zones within areas of historical drilling at Lawyers through a combination of extending drill holes based on observations of alteration and/or extensive sampling of all drilling to better gauge some of the more fine-grained and obscured mineralization styles that were previously unrecognized or ignored owing to weaker precious metal prices (see Dec. 11, 2019, and Nov. 19, 2018, press releases). Benchmark believes the large potassic alteration anomalies which cover parts of Lawyers have the potential for new discoveries. Of particular interest is the four by three km radiometric anomaly, which encompasses Cliff Creek, Dukes Ridge, Phoenix and AGB.

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, 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 reanalyzed by atomic absorption or emission spectrometry. Rock chip samples from outcrop/bedrock are selective by nature and they 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, PGeol, PGeo, 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 record of advancing exploration projects from grassroots scenarios through to production.

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