Benchmark Plans for Drill Expansion Program at Its Marmot Zone - New Discovery Area
Edmonton, April 20, 2021 - Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the "Company" or "Benchmark") - is pleased to announce the completion of a robust statistical analysis of drill assays and surface sampling geochemistry that has important implications for regional exploration and drill target development. The Company is planning an aggressive drill program to expand new discovery areas with the potential to develop new gold-silver ounces near surface. Benchmark's flagship Lawyers Gold-Silver Project is road accessible and located within the Golden Horseshoe area of north-central British Columbia, Canada.
John Williamson, CEO, commented, "The drill-ready targets have potential to generate additional near-surface gold and silver ounces that may be incorporated in to future economic studies as satellite deposits located near to the existing deposits. Drilling in 2020 provided a new discovery at the Marmot Target area with 101 metres at 0.82 g/t AuEq (see press release Jan 13, 2021). Benchmark is planning to delineate and expand this area on strike, depth and width in addition to initiating drilling at Marmot East zone. Drilling will expand mineralization at surface where outcrop samples have yielded up to 61.3 g/t gold and 3,890 g/t silver. There is potential to quickly grow areas that exhibit the same anomalous geological features as the Cliff Creek Zone that measures over 1.2 kilometre strike length."
Figure 1 - Lawyers property soil grids by key element ratio. a) normalized and gridded Ce/La ratio, indicative of hydrothermal fluid activity, b) normalized and gridded Sr/Ca ratio, which maps acidic/clay alteration, and c) normalized and gridded Tl/Rb ratio, a proxy for potassic alteration.
To view an enhanced version of Figure 1, please visit:
Benchmark has characterized the elements associated with gold-silver mineralization at the Cliff Creek, Dukes Ridge-Phoenix and AGB deposit areas to produce an index of pathfinders associated with precious metals endowment within the Lawyers property. There is robust correlation between the identified pathfinders and gold mineralization within the deposit areas. Benchmark has utilized this pathfinder element geochemistry to evaluate prospectivity across the Lawyers Project land position within the soil sample medium to delineate additional drill targets.
The soil anomalism at Marmot and Marmot East shares the same pathfinder element chemistry as the deposit areas and defines a substantial 2x3 km anomalous footprint (Figure 1), the largest anomalous footprint in soils on the property to date. The smaller Tl/Rb anomalous (potassic alteration proxy) footprint at Cliff Creek and AGB is likely related to disturbed soils from historical operations. The marmot anomaly is open to the east and south and will be systematically sampled in near-term surface work. Benchmarks' 2020 discovery hole of 101.00 m of 0.82 g/t AuEq including 2 m of 14.52 g/t AuEq (see press release Jan 13, 2021) at the Marmot zone demonstrated a significant gold and silver mineralizing system exists. Today's results indicate the potential footprint of the alteration system associated with this mineralization, demonstrating the expansion possibility and potential future addition of satellite resources to the Cliffs Creek-AGB-Dukes deposits.
Controls on mineralization at Marmot are similar to those observed at Cliff Creek, including northwest and north-northeast oriented fault systems, silicification and potassic alteration. There is more sulphidation associated with precious metals grades at Marmot relative to the other deposit areas at Lawyers, which makes ground-based induced polarization (IP) geophysics an attractive targeting tool. Benchmark aims to complete an IP survey over the Marmot zones to contextualize surface geochemistry results and enhance drill targeting before embarking on a significant 10,000+ metre drill program.
Figure 2 - Marmot Zone plan map showing rock grab surface sampling results, 2020 drilling, and proposed 2021 drill collars overlain on ground magnetics.
To view an enhanced version of Figure 2, please visit:
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.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "John Williamson"
John Williamson, Chief Executive Officer
For further information, please contact:
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80864