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Benchmark Metals Inc
Symbol BNCH
Shares Issued 97,683,357
Close 2020-02-13 C$ 0.38
Recent Sedar Documents

Benchmark rehashes drill results from Lawyers

2020-02-14 07:14 ET - News Release

Mr. John Williamson reports

BENCHMARK EXPANDS THE DUKE'S RIDGE TO PHOENIX CORRIDOR AT DEPTH AND ALONG STRIKE TO OVER 1 KILOMETRE

Benchmark Metals Inc. has summarized continued drilling success in the Duke's Ridge-Phoenix corridor, which now measures greater than one kilometre 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, chief executive officer, 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 grams per tonne gold and 128.7 g/t silver over 33.5-metre 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 to 250 m along strike from the Phoenix zone and 700 m along strike from the heart of the Duke's Ridge mineralization. These holes were designed as a first 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. 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 totalled 4,932 tonnes of material and produced 6,713 ounces of gold and 296,084 ounces of silver (Lane et al., 2018). Historical data, new results and a more thorough understanding of the mineralized system have 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 six m core length (DD83DR07), 1.26 g/t gold, 37.82 g/t silver or 1.73 g/t AuEq across 70.00 m core length (19DRDD003), and at Phoenix, 46.9 g/t gold and 3,055.6 g/t silver over 2.87 m 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 m core length (Nov. 19, 2018). The excellent results from this program, coupled with those from historical drill programs empathize the potential to develop a significant resource within this plus-one-kilometre mineralized corridor. This area will be a focus of the 2020 drill program.

                            2019 DUKE'S RIDGE DRILL RESULTS 

Drill hole         From           To           Au           Ag         AuEq     Interval
                    (m)          (m)        (g/t)        (g/t)        (g/t)          (m)
Duke's Ridge
19DRDD001         70.00        80.00         0.51        15.78         0.71        10.00
including         70.00        72.00         1.34        25.23         1.65         2.00
and              134.90       136.00         1.14        48.00         1.74         1.10
19DRDD002        157.00       194.00         0.90        22.93         1.18        37.00
including        165.00       170.00         2.16        73.81         3.08         5.00
19DRDD003         98.00       168.00         1.26        37.82         1.73        70.00
including         98.73        99.72        47.40     1,110.00        61.28         0.99
and              164.36       165.05        13.10        73.20        14.02         0.69
19DRDD004         83.54        98.00         2.30       191.88         4.70        14.46
including         86.88        90.22         7.85       830.71        18.23         3.34
19DRDD005          9.00        73.00         0.41        16.36         0.61        64.00
including          9.00        25.00         0.64        36.18         1.10        16.00
and               56.00        73.00         0.54         8.50         0.65        17.00
Phoenix
19PXDD001         88.00        89.00         3.05        38.10         3.53         1.00
and              130.13       133.00        46.95     3,055.47        85.14         2.87
including        131.00       131.90       132.50     8,560.00       239.50         0.90
and              162.73       167.00         1.56         9.43         1.68         4.27
19PXDD002         82.00        88.00         0.42        43.20         0.96         6.00
including         83.00        84.23         0.88       136.34         2.59         1.23
19PXDD003         96.70       104.00         0.44        15.02         0.63         7.30
including         99.00       100.00         1.30        55.50         1.99         1.00
and              122.75       124.25         0.86        11.65         1.01         1.50
and              151.00       152.00         0.92        13.10         1.08         1.00
Phoenix East
19PXDD004        130.22       130.86        11.25         2.39        11.28         0.64
19PXDD005         11.68        13.68         0.48        11.24         0.62         2.00
19PXDD006         21.53        22.88         0.41        51.55         1.06         1.35
and               55.16        55.49         3.02        96.00         4.22         0.33
and               90.02        92.00         0.69       144.00         2.49         1.98

* Using an 80:1 ratio of silver to gold dollars per ounce.
** Intervals are core length. True width is estimated between 80 to 90 per cent of core 
length.
*** Drill hole results already reported.

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 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, 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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