Benchmark Metals Inc.
Benchmark Metals Inc.
- ISIN: CA08162A1049
- Land: .
Nachricht vom 22.11.2019 | 09:06
Benchmark Drills 30 g/t Gold and 1,361 g/t Silver over 2.95 Metres at AGB Zone and Extends the Strike Length to Nearly 400 Metres
DGAP-News: Benchmark Metals Inc.
/ Key word(s): Miscellaneous
Edmonton, Alberta--(Newsfile Corp. - November 22, 2019) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) (the "Company" or"Benchmark") - Benchmark is pleased to report continued drilling success from the Amethyst Gold Breccia (AGB) Zone. Drilling intersected two discrete zones of mineralization in 19AGBDD007 including an upper zone of 1.10 g/t gold and 41.62 g/t silver over 42.15 metres of core length and a high-grade lower zone of 30.2 g/t gold and 1,361 g/t silver over 2.95 metres of core length (Table 1). Benchmark also reports encouraging results 200 metres along strike to the south in 19AGBDD002 which yielded 1.16 g/t gold and 30.56 g/t silver over 67 metres of core length. The results have expanded the AGB Zone to a drill indicated strike length of nearly 400 metres and vertical depth of 170 metres. 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, "Drilling at AGB continues to yield fantastic results below and along strike from the historical mining. Our drilling is demonstrating strong continuity of the mineralizing system beyond its previously known extents and identifying historically unrecognized bulk tonnage potential, representing a significant opportunity to add gold and silver ounces to the Lawyers Project."
Table #1. Selected results from 19AGBDD007 and 19AGBDD002
*Gold equivalent (AuEq) calculated using 80:1 gold to silver ratio.
Visual results from all six of the drill holes remaining to be assayed at AGB indicate that mineralization remains open along strike to the south, north, and at depth - potentially increasing the strike length to greater than 550 metres and extending mineralization to approximately 200 vertical metres, significantly deeper than historical drill depths. A total of 2,749 metres were drilled in 10 holes at AGB during 2019, representing the first subsurface exploration of AGB since the Cheni Mine closure in 1992.
Figure #1 - Map of 2019 drilling at the AGB Zone with structural geology and ground magnetics within the Lawyers Trend.
To view an enhanced version of Figure 1, please visit:
Drill hole 19AGBDD007 was designed to test the continuity of the known mineralization at depth, below the historical workings and 60 metres along strike from 19AGBDD001 (see press release September 20, 2019). This drill hole is a significant step-out from historical drill holes, both laterally (80m) and vertically (80m) (Figures 1 and 2), extending mineralization at depth to over 170 metres below surface and the mineralization remains open. Drilling encountered 1.5 m of underground development on the lowest mined level, but immediately entered the high-grade mineralization once through the workings, including 47.21 g/t AuEq over 2.95 metres of core length. Intersecting such high-grades in the immediate vicinity of workings further bolsters Benchmark's notion that AGB was not thoroughly explored and developed during operation of the Cheni Mine.
Figure #2 - Simplified cross-section of 19AGBDD007 and 008 (results pending) depicting the lateral and vertical stepout from historical drilling at the AGB Zone within the Lawyers Trend.
To view an enhanced version of Figure 2, please visit:
The mineralized zone intersected in 19AGBDD007 is a multiphase hydrothermal breccia composed of at least three episodes of chalcedony and at least two episodes of mineralized quartz-hematite veining. Cross-cutting relationships in the veining suggest timing of the mineralizing event(s) are bordered by brecciating chalcedony. The mineralized veins contain abundant fine to -medium grained sulphides (acanthite, sulfosalts, chalcopyrite, and pyrite) and native gold, silver and electrum. The banded textures of the mineralized veins indicate open space crystallization and may explain the presence of coarse gold and silver. Potassic alteration occurs throughout this zone. The mineralizing system at AGB is controlled by a steeply dipping north-northwest trending fault zone (Figure 1 and 2) that delineates a discrete magnetic break. Bedrock mapping in the region has identified similar structures northeast of the main AGB trend that share the same magnetic characteristics and remain to be thoroughly tested.
Drill hole 19AGBDD002 was designed to test shallow mineralization between the historical workings and channel samples which returned 5.13 g/t gold and 20.79 g/t silver over 27.03 metres of core length from previous and recent confirmatory sampling (Figure 3). This hole was drilled 200 metres south of 19AGBDD007 and 175 metres north of the historical channel sample. The 1.55 g/t AuEq over 67 metres of core length reported from 19AGBDD002 represents another intersection of bulk-tonnage grade and widths previously unrecognized during 1980-1990s exploration at the Lawyers Project. This intersection starts at shallow depths along a steep-sided hill making the mineralization potentially amenable to open pit mining methods.
Geoscience BC in collaboration with the University of British Columbia - MDRU recently released a report (link to report) on the highly prospective epithermal and porphyry mineral deposits of the underexplored Toodoggone mineral district. They recognized that historical work in the region had focused on specific styles of mineralization and on high-grade ore-zones, such as the partially mined component of the AGB zone, overlooking the larger mineralization potential. This project evaluated the AGB, Cliff Creek, and Silver Pond zones from the Lawyers Property, among others within the broader region to help reconstruct the shape and depth of a possible larger, continuous mineralizing system. Thus far, Benchmark's drilling results from the AGB zone are indicative of this larger mineralization potential that exists, with broad intercepts of 1.62 g/t AuEq over 42.15 metres of core length from 19AGBDD007 (upper zone) and 5.01 g/t AuEq over 25 metres of core length from 19AGBDD001. The discovery of significantly greater widths of mineralization at AGB enhances the potential to add significant resources to this zone, along with similar results at the adjacent Cliff Creek zone (see August 16, 2019 news release).
Figure #3 -AGB showing the underground workings with 2019 drilling and rock grab results on draped drone imagery. The reported zones of 19AGBDD001 and 007 lie under the historical workings whilst results from 19AGBDD002 represent near-surface gold-silver mineralization south and downslope of historical mining. Benchmark awaits the results of 19AGBDD009 and 010.
To view an enhanced version of Figure 3, please visit:
Quality Assurance and Control
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"
For further information, please contact:
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/49972
Click on, or paste the following link into your web browser,to view the associated documents http://www.newsfilecorp.com/release/49972
News Source: Newsfile
|Company:||Benchmark Metals Inc.|
|EQS News ID:||919499|
|End of News||DGAP News Service|
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