Benchmark Makes New Discovery at Marmot Zone and Commences Drilling over New Gold-Silver Targets
Newsfile Corp.
5 min read
Edmonton, Alberta--(Newsfile Corp. - August 27, 2020) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) (the "Company" or "Benchmark") is pleased to announce the discovery of new mineralized structures, broad zones of alteration, veining, and sulphide mineralization at the Marmot Zone; drill-hole planning is complete and drilling will commence shortly. The mineralized structures show a strong resemblance to the Companies largest mineralized area, the Cliff Creek Zone that lies 3 kilometres (km) to the northwest (Figure #1). The Marmot area has yielded high-grade rock grab samples up to 61.3 g/t gold and 3,890 g/t silver. The Marmot area represents a highly prospective region measuring 2 km by 3 km. Benchmark's flagship gold-silver project is located in a road accessible area of the Golden Horseshoe in north-central British Columbia, Canada.
John Williamson, CEO, commented, "The new gold-silver discovery provides additional geological support that the entire +20 kilometre long, Lawyers gold-silver trend remains under-explored and hosts potential for multiple, large gold-silver bearing zones across the entire 140km2 land package. The Benchmark team continues to develop and discover new targets while advancing the heart of the property with an aggressive resource definition and expansion drill program. Drill results from the on-going resource expansion drill program are anticipated following delivery of assay certificates from the laboratory and interpretation by the Benchmark team".
Newly completed ground magnetics (Figure #2) delineates both northwest and north-northeast trending fault systems, analogous with other zones on the Lawyers Trend (Cliff Creek, Dukes Ridge, AGB, Phoenix) where hydrothermal low-sulphidation systems developed. Follow-up targeted mapping has identified the same quartz-eye tuff host rock as the AGB Zone. Furthermore, new fault structures and related potassic and propylitic alteration zones that contain silicified hydrothermal breccias and multi-generational quartz veining with associated sulphides (Figure #1). Outcrop rock grab sampling has returned numerous high-grade gold and silver samples over the 2 km by 3 km area (Table #2).
Table #1 - Selected rock results from the Marmot Zone
Sample Type
Gold (g/t)
Silver (g/t)
Au-Eq (g/t)
outcrop
61.3
3890.0
109.9
subcrop
31.8
1590.0
51.7
outcrop
25.9
2610.0
58.5
outcrop
25.0
2330.0
54.1
outcrop
23.1
67.4
23.9
subcrop
8.3
100.0
9.5
outcrop
6.3
472.0
12.2
*Gold equivalent (AuEq) calculated using 80:1 gold to silver ratio. **Previously reported
Figure #1 - Annotated photo of the Marmot area showing fault controlled mineralized and alteration zones
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, 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.
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 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.
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 identify and capitalize on investment opportunities and deliver shareholder returns.
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.
