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Benchmark Metals Inc
Symbol BNCH
Shares Issued 123,063,585
Close 2021-01-13 C$ 1.07
Recent Sedar Documents

Benchmark Metals drills 101m of 0.82g/t AuEq at Lawyers

2021-01-13 10:57 ET - News Release

Mr. John Williamson reports

BENCHMARK DRILLS NEW DISCOVERY YIELDING 101 METRES OF 0.82 G/T GOLD EQUIVALENT, INCLUDING 2 METRES OF 14.52 G/T GOLD EQUIVALENT

Benchmark Metals Inc.'s initial five-hole drill program at the Marmot zone has discovered a significant gold and silver mineralizing system. This includes both bulk-tonnage and high-grade mineralization similar to the Cliffs Creek deposit. The results provide a template of favourable indicators for multiple new discoveries along the 20-kilometre gold-silver Lawyers trend. 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: "This new gold-silver discovery is very encouraging given the limited number of drill holes, excellent intercepts, and recognition of the same types of alteration and mineralization observed at Cliff Creek, three kilometres to the northwest. Although it's early days, the potential mineralized footprint of the Marmot and Marmot East zones could rival that of the Cliff Creek zone, and it's taken over 300 drills holes to work that up to a multimillion-ounce gold target. 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. This discovery also provides additional geological support that our surface exploration programs are very effective at identifying new mineralized zones. As we continue to explore and evaluate the entire plus-20-kilometre-long Lawyers gold-silver trend, we believe there is potential for additional discoveries across our district-scale 140-square-kilometre land package."

Marmot zone:

  • Five diamond drill holes totalling 1,434 metres were completed at Marmot:
    • Four of the five holes returned significant near-surface gold and silver mineralization, including:
    • 101.00-metre core length of 0.82 gram per tonne gold equivalent with four separate high-grade intersections, with the best assaying 2.00-metre core length of 14.52 grams per tonne gold equivalent.
  • Four holes tested mineralized structures over a strike extent of 50 metres with the fifth and most successful hole 250 metres along strike to the southeast. The majority of the system remains to be drill tested.
  • The Marmot zone remains open in all directions and will be subject to expansion drilling in 2021 to delineate a new gold-silver resource area.
  • Marmot East has all the same characteristics as the Marmot zone and will be drill tested in 2021.

Drill targeting at the Marmot zone was initiated following systematic geological work that indicates a highly prospective region measuring two kilometres by three kilometres. This area and the targets were defined by:

  1. Newly completed ground magnetics that delineate both northwest- and north-northeast-trending fault systems, analogous with other zones on the Lawyers trend (Cliff Creek, Dukes Ridge, AGB and Phoenix);
  2. Targeted mapping that identified prospective host rocks, alteration and associated silicified hydrothermal breccias and multigenerational quartz veining with sulphides;
  3. Anomalous soil and rock geochemistry that returned grab samples up to 61.3 grams per tonne gold and 3,890 grams per tonne silver.

This methodology has now successfully translated into a new discovery and continues to be utilized across the entire 140-square-kilometre land package where a number of new targets will be drill tested in 2021.

Quality assurance and quality control

Results from samples were analyzed at ALS Global 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 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.

Benchmark is part of the Metals Group of companies, managed by an award-winning team of professionals who stand for technical excellence, painstaking project selection and uncompromising corporate governance, with a proven ability to capitalize on investment opportunities and deliver shareholder returns.

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