Edmonton – June 25th, 2020 – Benchmark Metals Inc. (the “Company” or “Benchmark“) (TSX-V: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) – is pleased to announce geophysical crews are mobilizing to the Silver Pond porphyry target to begin data acquisition and interpretation to better define drill targets on the highly-prospective zone for a new porphyry discovery. A 3D induced polarization (IP) and resistivity survey in conjunction with a high-resolution magnetic geophysical survey span the entire 4 km2 zone of advanced argillic alteration. This zone may represent a lithocap above a possible porphyry intrusive system (Figure 1).
John Williamson, CEO commented, “We have quickly and cost effectively advanced the Silver Pond porphyry target from a conceptual nature to demonstrating it has key characteristics of lithocaps found above porphyry systems. The 3D IP and magnetic geophysical surveys will be invaluable for interpreting the subsurface expression of this large alteration zone and outline potential mineralized domains and future drill targets”.
The 4 km2 advanced argillic alteration zone at Silver Pond has never been drilled, mapped, or effectively explored and is only 850 m northwest of the low-sulphidation mineralization at Cliff Creek. SWIR (short-wave infrared) analysis of clay samples and soil and rock geochemistry show large-scale zonation patterns and metal associations indicative of high-sulphidation or porphyry mineralization (see May 26th news release).
The 2020 exploration program at Silver Pond will include detailed geological mapping and expansion and infill sampling of 2019 soil, rock, and SWIR surveys. The high-resolution magnetic geophysical survey is expected to delineate fault zones as it has proven to be very effective at this at other zones on the Lawyers property. The 3D IP and resistivity survey will provide Benchmark the ability to view deep in the subsurface, below the lithocap alteration, where possible zones of high conductivity may be related to sulphide mineralization.
Figure 1: Imagery showing the extensive clay alteration at Silver Pond and the spatial relationship to the Cliff Creek Zone (upper image). Schematic illustration of alteration zoning and overprinting relationships in a porphyry system (modified after Holliday and Cooke 2007; Cooke et al. 2014; Cook et al., 2017).
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.
|Benchmark is a part of the Metals Group portfolio of companies. Metals Group is an award-winning team of professionals who stand for technical excellence, painstaking project selection, uncompromising corporate governance and a unique ability to pan through the rubble to discover and develop golden opportunities.|
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “John Williamson”
John Williamson, Chief Executive Officer
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