Edmonton – November 6, 2020 – Benchmark Metals Inc. (the “Company” or “Benchmark“) (TSX-V: BNCH) (OTCQB: BNCHF) (WKN: A2JM2X) – is pleased to announce new drill results from the Cliff Creek zone where we have defined gold-silver mineralization from surface over a 1.2 kilometre (km) strike length, up to 200 metres width that extends to a vertical depth exceeding 550 metres. The volume expansion has the potential to positively impact the new mineral resource estimate expected in Q1 2021. 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, “Infill drilling at the south end of Cliff Creek has generated significant, long intersections of gold-silver mineralization. This area is providing multiple new benefits that include more gold and silver than anticipated and at higher grades. Drilling in the southern end is providing substantial continuity and extending gold-silver mineralization to greater depths. Our current drill density of between 15-35 metres, averaging 20 metres, is significantly increasing the confidence level of our new mineral resource estimate expected in early 2021”.
New drill results from the southern extent of the Cliff Creek zone returned broad zones of mineralization including 128.10 metres (m) of 1.65 grams per tonne (g/t) gold and 110.02 g/t silver or 3.02 g/t gold equivalent* (AuEq). In addition, a drill-hole located 100 m to the north yielded 221.53 m of 0.82 g/t gold and 15.16 g/t silver or 1.01 g/t gold AuEq. Drilling at the southern end has significantly expanded mineralization at Cliff Creek with broad gold-silver mineralization up to 200 m estimated true-thickness.
Cliff Creek South Highlights
- Drilling continues to intersect strong zones of mineralization along the entire 1.2 km strike extent of the Cliff Creek zone with these new results highlighting the significant resource building potential of the southern extent.
- These new results have:
- Intersected the broadest zones of mineralization to date on the Lawyers Project;
- Continued to extend mineralization to >300 m depth;
- Demonstrated a strengthening gold system in places at depth; and
- Characteristics similar to the mineralization across all the resource zones with both bulk tonnage and high-grade mineralization intersected in multiple holes, see Table 1.
Table #1: Summary of the various styles of mineralized intercepts
|Style of min.||Drillhole||Int.||Au (g/t)||Ag (g/t)||AuEq* (g/t)|
|Broad Bulk Tonnage||20CCDD028||128.10||1.65||110.02||3.02|
*Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio.
- Broad zones of mineralization are >800m south of any of the historic underground workings at Cliff Creek;
- Cliff Creek South mineralization is characterized by multi-phase hydrothermal breccia associated with major NW and WNW fault structures, dipping steeply to the west and southwest. These mineralized intervals typically have strong silica flooding with breccia and stockwork textures and contain fine grained sulfides, electrum and native silver.
- Ongoing drilling during 2020 across the entire Cliff Creek Zone, Dukes Ridge to Phoenix and AGB zones has now surpassed 75,000 m of drilling in 350 holes to date. Disclosure of additional results will continue through to January 2021 in support of a new Mineral Resource Estimate.
- The mineral resource at Cliff Creek will be defined by >300 drill holes: 130 holes were drilled in 2020 and 41 in 2018-2019, with an additional 46 proposed for the 2020 season and 92 historical for a total of 309 Cliff Creek holes by the end of the 2020 program.
- The 2020 drill program at Cliff Creek has intersected visual mineralization at depths of up to 550 vertical metres, extending the known mineralization from 2019 drilling by over 200 metres.
Table #2: New results from the southern Cliff Creek Zone, ordered north to south with ref. Image #1
|Drill-Hole***||From (m)||To (m)||Interval** (m)||Gold (g/t)||Silver (g/t)||Au-Eq* (g/t)|
* 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.
*** RC = Reverse circulation hole and DD = Diamond drill hole
Image #1 – Cliff Creek Zone Plan map and inset of the South Zone
Image #2 – Cliff Creek Zone Drill Section
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
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