Benchmark Metals Inc.

  • ISIN: CA08162A1049
  • Land: .

Nachricht vom 04.06.2019 | 22:08

Benchmark Reports 259 g/t Gold and 3,320 g/t Silver over 3 Metres from New Exploration Target Area

DGAP-News: Benchmark Metals Inc. / Key word(s): Miscellaneous

04.06.2019 / 22:08
The issuer is solely responsible for the content of this announcement.


Edmonton, Alberta--(Newsfile Corp. - June 4, 2019) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) (the "Company" or "Benchmark") is pleased to provide exploration plans and historical results at the Amethyst Breccia Zone (the "AGB Zone") located in the eastern portion of the regional Lawyers Trend, an area just 2 km from the main resource expansion area of the Lawyers Project that remains under-explored. The AGB Zone is a sub-parallel structure adjacent to the Cliff Creek, Dukes Ridge and Phoenix structures within the Lawyers Trend (see Location Map below) and will be a high-priority target for the 2019 drill program of up to 30,000 metres.

Selected historical high-grade drilling intercepts at the AGB Zone include:

  • DDH80AS13 intersected 259.76 g/t gold and 3,320.3 g/t silver over 3 metres; and
  • DDH82AS10 intersected 12.67 g/t gold and 143.39 g/t silver over 28 metres.

2018 rock sample results include:

  • 22.20 g/t gold and 80.90 g/t silver;
  • 17.70 g/t gold and 61.60 g/t silver;
  • 16.15 g/t gold and 107 g/t silver; and
  • 7.94 g/t gold and 1265 g/t silver.

The Lawyers Project is situated in the Stikine Terrane of northern British Columbia, Canada, where magmatic events provided a source for mineralizing porphyry and epithermal systems. These mineralizing events form an arch of gold and polymetallic deposits around the Bowser Basin (that include Brucejack, KSM, Premier, Red Mountain, Bronson, GT Gold, Red Chris, and Kemess), referred to herein as the 'Golden Horseshoe'.

The AGB Zone was subject to limited historical production, but was never fully mined or explored for gold-silver mineralization. Prior to the commencement of mining, AGB had a historical resource estimate of 452,600 tonnes at 8.32 g/t gold and 263.5 g/t silver which formed the basis for feasibility studies and a production decision for what became known as the Lawyers Mine. The potential quantity and grade stated above constitutes a historical estimate, parts of which have been mined, and is not to be relied upon. A qualified person has not completed sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and therefore Benchmark is not treating the historical estimate as current mineral resources or mineral reserves.

Significant mineralization was intersected by historic drilling outside of the main mined area. The AGB zone remains open in all directions. Recently acquired data, geological compilation and reinterpretation for the AGB zone has revealed significant potential to add gold and silver ounces in unmined areas. This is based upon data incorporated from over 17,000 metres of drilling, 4,500 assays from surface and underground sampling, in addition to more than 600 metres of trench data with more than 600 samples and assays.

Location Map

The map outlines the AGB Zone with selected drill results, geochemistry and surface sampling over K-radiometric geophysics.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6169/45302_7f57d1f3d49c4989_001.jpg

Location Map

To view an enhanced version of the Location Map, please visit:
https://orders.newsfilecorp.com/files/6169/45302_7f57d1f3d49c4989_001full.jpg

The mineralization is north-northwest striking, steeply west-dipping, and occupies a topographic high. The zone has been traced for more than 500 metres along strike, greater than 225 metres vertically, and is up to 75 metres wide. To the north, 2018 soil samples identified anomalous gold and silver, coincident with reconnaissance mapping that identified chalcedonic quartz veining in outcrop (Kaip and Childe, 2001). In addition, the zone has been traced to the south where several high-grade rock samples, yielding up to 22.20 g/t gold and 80.90 g/t silver, were collected in 2018.

With only limited data available for AGB and the eastern portion of the geophysical anomaly, it was not a focus of the limited 2018 work program. AGB is now a high-priority target for an expanded property-scale work permit in 2019.

Mineralization at AGB is hosted in a prominent quartz breccia zone and has a strong association with chalcedonic quartz veins. Pervasive potassic alteration, similar to that at Cliff Creek and Dukes Ridge, also occurs at AGB, resulting in a large K-radiometric anomaly that is coincident with the known mineralization. The radiometric anomaly continues to the north and to the south of AGB, across the valley toward the Dukes Ridge and Phoenix zones and remains untested. A major NW-SE structure is also an important feature at AGB, with the mineralization situated on the hanging wall of a steep west-dipping fault. These major north-west structures, which reflect the original volcanic basin geometry are common to all the major mineralized zones along the Lawyers Trend.

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, President
jimg@BNCHmetals.com
Tel: (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/45302

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04.06.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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