Edmonton, Alberta--(Newsfile Corp. - January 13, 2021) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the "Company" or "Benchmark") is pleased to announce that its 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 (Figure 1). 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, CEO, 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, 3 kilometres to the northwest. Although its 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 multi-million ounce gold target. Planning is underway 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 +20 kilometre long, Lawyers gold-silver trend we believe there is potential for additional discoveries across our district scale 140km2 land package."
Marmot Zone
- Five diamond drill holes totaling 1,434 metres were completed at Marmot
- Four of the five holes returned significant near surface gold and silver mineralization including:
- 101.00 m core length of 0.82 g/t AuEq with 4 separate high grade intersects with the best assaying 2.00 m core length of 14.52 g/t AuEq (Figure 2)
- 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.
Table 1: Drill Results Summary from the Marmot Zone.
| Drillhole |
|
From (m) |
To (m) |
Interval (m)** |
Gold (g/t) |
Silver (g/t) |
Au-Eq (g/t)* |
| 20MLDD001 |
no significant results |
| 20MLDD002 |
|
19.80 |
38.00 |
18.20 |
0.55 |
25.87 |
0.87 |
| Incl |
24.05 |
35.10 |
11.05 |
0.72 |
34.21 |
1.14 |
| Incl |
28.00 |
29.00 |
1.00 |
2.62 |
115.00 |
4.06 |
|
315.04 |
315.80 |
0.76 |
1.53 |
2.01 |
1.56 |
| 20MLDD003 |
|
71.10 |
72.41 |
1.31 |
3.59 |
72.60 |
4.50 |
| And |
87.95 |
101.00 |
13.05 |
0.57 |
16.07 |
0.77 |
| Incl |
87.00 |
89.00 |
2.00 |
2.51 |
45.95 |
3.09 |
| And |
127.00 |
136.80 |
9.80 |
0.19 |
1.87 |
0.21 |
| 20MLDD004 |
|
6.00 |
10.35 |
4.35 |
1.13 |
7.23 |
1.22 |
|
85.00 |
90.00 |
5.00 |
0.74 |
45.76 |
1.31 |
| Incl |
89.00 |
90.00 |
1.00 |
2.30 |
161.00 |
4.31 |
| 20MLDD005 |
|
146.00 |
247.00 |
101.00 |
0.55 |
21.82 |
0.82 |
| Incl |
146.00 |
148.00 |
2.00 |
9.83 |
375.00 |
14.52 |
| And |
162.00 |
164.00 |
2.00 |
3.31 |
266.00 |
6.64 |
| And |
202.97 |
203.52 |
0.55 |
9.86 |
196.00 |
12.31 |
| And |
215.00 |
216.00 |
1.00 |
8.43 |
98.90 |
9.67 |
* Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio.
** Intervals are core-length. True width is estimated between 80 to 90% of core length.
Drill targeting at the Marmot zone was initiated following systematic geological work that indicates a highly prospective region measuring 2 by 3 kilometres. This area and the targets were defined by:
-
Newly completed ground magnetics that delineates both northwest and north-northeast trending fault systems, analogous with other zones on the Lawyers Trend (Cliff Creek, Dukes Ridge, AGB, Phoenix: Figure1);
-
Targeted mapping that identified prospective host rocks, alteration and associated silicified hydrothermal breccias and multi-generational quartz veining with sulphides, and;
-
Anomalous soil and rock geochemistry that returned grab samples up to 61.3 g/t gold and 3,890 g/t silver.
This methodology has now successfully translated into a new discovery and continues to be utilized across the entire 140km2 land package where a number of new targets will be drill tested in 2021.
Figure 1a - Cliff Creek Gold Silver Deposit Drillhole Collars and Map
To view an enhanced version of Figure 1a, please visit:
https://orders.newsfilecorp.com/files/6169/71870_b3c8568fc4ac18c4_001full.jpg
Figure 1b - Cliff Creek Gold Silver Deposit Drillhole Collars and Map
To view an enhanced version of Figure 1b, please visit:
https://orders.newsfilecorp.com/files/6169/71870_b3c8568fc4ac18c4_002full.jpg
*A silver to gold ratio of 80:1 has been used in the calculation of AuEq
**Total ounces may not add due to rounding.
***The tonnes, grade and ounces presented are an Exploration Target, and are conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The Target has not been evaluated for reasonable prospects for future economic extraction as metallurgical work and drilling are planned and ongoing.
Figure 2 - Marmot Zone cross section
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6169/71870_b3c8568fc4ac18c4_003full.jpg
Quality Assurance and 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, P.Geol. 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 (+10 g/t Au). Analysis by four acid digestion with 48 element ICP-MS analysis was conducted on all samples with silver and base metal over- limits being re-analyzed 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, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.
About Benchmark Metals
Benchmark Metals Inc. is a Canadian mineral exploration company focused on proving and developing the substantial resource potential of the Lawyer's 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 track 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.
www.metalsgroup.com
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "John Williamson"
John Williamson, Chief Executive Officer
For further information, please contact:
Jim Greig
Email: jimg@BNCHmetals.com
Telephone: +1 604 260 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.
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