Edmonton – December 8, 2020 – Benchmark Metals Inc. (the “Company” or “Benchmark“) (TSX-V: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) – is pleased to announce the deepest gold-silver mineralization intersected to date at the northern portion of the Cliff Creek deposit. Hole 20CCDD070 intersected significant mineralization at over 425m below surface, which extends the depth of the deposit by 50+ metres below the base of the open pit model and remains open. Further assay results are pending from a tier of holes that extend up to 100m beneath this hole, with the drill core showing similar alteration and visible gold-silver mineralization. The combined results have excellent potential to positively impact the future resource estimate and extent of the open pit model economics. 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 drill hole and the surrounding ones are successfully expanding gold and silver to new depths. The Cliff Creek North area is providing continuous, impressive grades from surface with high-grade material at depth. The new depth extensions are yielding impressive intersections that include 1,036 g/t silver and 22.6 g/t gold over 4.3 metres core length. The excellent results from the first of these deep holes confirm our geological model and indicate that this robust mineralizing system remains strong and open at depth. We look forward with great expectations to receiving results from the adjacent drill holes.”
Table #1: New results from the Cliff Creek Zone.
|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.
Cliff Creek Highlights
- Mineralization in the deeper parts of Cliff Creek North is characterized by a single-phase hydrothermal breccia with a quartz-sulfide rich matrix, containing visible native silver, gold, and electrum. The hydrothermal breccia occurs within a broader silicified zone with mineralized stockwork quartz veining throughout. Typical of the Cliff Creek zone the mineralization is associated with major NW and W-NW fault structures, dipping steeply to the west and southwest.
- Ongoing drilling during 2020 across the entire Cliff Creek Zone, Dukes Ridge to Phoenix and AGB zones has now surpassed 87,000 m of drilling in 388 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: 200 holes were drilled in 2020, 41 in 2018-2019, and 92 historical holes.
- The 2020 drill program at Cliff Creek has intersected visual mineralization at depths of 500 vertical metres, extending the known mineralization from 2019 drilling by over 250 metres vertical depth.
Figure #1 – Cliff Creek Gold Silver Deposit Drillhole Collars and Map
Figure #2 – Cliff Creek North Zone long section, see Figure #1 for section window.
Figure #3: Cliff Creek North Zone cross section, see Figure #1 for section line.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “John Williamson”
John Williamson, Chief Executive Officer
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