Benchmark Drills 30 Metres of 2.81 g/t Gold Equivalent and Delineates 400 Metres Strike-Length of Mineralization In A New Zone

Edmonton – October 27, 2021 – Benchmark Metals Inc. (the “Company” or “Benchmark“) (TSX-V: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) – is pleased to announce new results from exploration drilling at the Marmot Zone, including 30.00 metres (m) core length of 1.93 grams per tonne (g/t) gold and 70.33 g/t silver or 2.81 g/t gold equivalent* (AuEq) in drill hole 21MLDD004 (Figure 1). The mineralizing system remains open in all directions and continues to display similarities to the resource deposit areas on the property, with both bulk tonnage and high-grade mineralization intercepted in multiple drill holes. The drill results align with significant surface mineralization that delineates a mineralized footprint that extends approximately 400 metres in strike-length and remains open (Figure 1), with current drilling focusing on identifying structural controls of the system together with defining at-surface material. The Marmot discoveries are situated ~3 kilometres southeast of Benchmark’s multi-million ounce gold-silver deposits on its flagship Lawyers Gold-Silver Project, located within a road accessible region of the prolific Golden Horseshoe area of north-central British Columbia, Canada.

John Williamson, CEO commented, “The Marmot Zone continues to return significant gold and silver intercepts at-surface and at depth with a style of mineralization and alteration that is very comparable to our Cliff Creek deposit. These new results help demonstrate the continuity of this mineralizing system as it continues to grow in scope and scale, with the potential to add significant gold-silver ounces that would be peripheral to our current resource zones.”

Additional new results from surface include (Table 1):

  • 11.00 m (core length) of 2.94 g/t gold and 4.36 g/t silver or 2.99 g/t AuEq* in drill hole 21MLD006
  • 7.50 m (core length) of 2.01 g/t gold and 168.25 g/t silver or 4.11 g/t AuEq* including 1.00 m of 7.29 g/t gold and 557.00 g/t silver or 14.25 g/t AuEq* in drill hole 21MLDD002
  • 5.85 m (core length) of 1.57 g/t gold and 77.61 g/t silver or 2.54 g/t AuEq* in drill hole 21MLDD003
  • 30.00 m (core length) of 0.9 g/t gold and 15.52 g/t silver or 1.09 g/t AuEq* in drill hole 21MLDD004

Drilling at the Marmot Zone continues to delineate the orientation of mineralization first encountered in last years discovery drill hole 20MLDD005 that returned 101.00 m (core length) of 0.82 g/t AuEq* (including 18.00 m of 2.5 g/t Au). Of the planned 12,500 metres of drilling, ~5000 metres has been completed to date at the Marmot Zone, which has successfully intersected significant intervals of alteration and mineralization that remains to be further tested along-strike, at-depth, and to-surface. As the Marmot Zone continues to evolve initial drill results suggest there is potential to define multiple zones over multiple structures that have delivered significant intervals of gold-silver mineralization to date.

Figure 1: Marmot and Marmot East Zones with drilling and select rock grab samples 

Table 1: Drill Results Summary from the Marmot Zone

* 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.

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.

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