BENCHMARK DRILLS 57.00 METRES OF 2.52 G/T GOLD EQUIVALENT CONTRIBUTING ADDITIONAL GOLD AND SILVER OUNCES TO THE UPCOMING MINERAL RESOURCE ESTIMATE

Edmonton – April 29, 2022 – Benchmark Metals Inc. (the “Company” or “Benchmark“) (TSX-V: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) – is pleased to announce new results from infill and expansion drilling at the Dukes Ridge Deposit, highlighted by 57.00 metres (m) core length of 1.72 grams per tonne (g/t) gold and 64.41 g/t silver or 2.52 g/t gold equivalent (AuEq)*, including 9.06 m of 6.87 g/t gold and 182.72 g/t silver or 9.16 g/t AuEq in drill hole 22DRDD022. These drill results have extended known mineralization to >170 metres below the existing 2021 mineral resource estimate (MRE) pit-shell to over 325 metres vertical depth from surface (Figure 1). The Dukes Ridge Deposit remains a significant potential source for additional gold-silver ounces at Lawyers, as drill-indicated high-grade shoots within intervals of bulk-tonnage mineralization continue to accumulate with each phase of drilling outside of the pit shell generated via the 2021 MRE (Figure 2). The Company has completed a +16,000 metre infill and expansion drilling program at the Cliff Creek, Dukes Ridge, and AGB deposits and at the Marmot Lake area. The Company will provide additional results from the spring program drilling as they become available. Benchmark’s flagship Lawyers Gold-Silver Project is located within a road accessible region of the prolific Golden Horseshoe area of north-central British Columbia, Canada.

 

John Williamson, CEO, commented, “Dukes Ridge continues to deliver strong drill results and the continuity of high-grade mineralization to depth is well below the existing 2021 resource pit-shell. We expect Dukes to contribute additional gold-silver ounces to the Project with continued drilling. The Dukes Deposit has sparse historical drilling relative to the AGB and Cliff Creek Deposits and this provides an opportunity to deliver more gold and silver. The imminent updated Mineral Resource Estimate will include these latest results from Dukes, and we are excited to see what these results contribute to the resource.”

 

Highlights

  • Targeted drilling of plunging high-grade mineralization below the 2021 MRE pit-shell has yielded 9.06 m of 6.87 g/t Au and 182.72 g/t Ag, or 9.16 g/t AuEq, within a broader interval grading 1.72 g/t Au and 64.41 g/t Ag, or 2.52 g/t AuEq over 57.00 metres in hole 22DRDD022. 
  • High-grade zones within broad bulk-tonnage zones akin to mineralization at Cliff Creek:
    • 0.37 m of 65.60 g/t Au and 2600.00 g/t Ag or 98.00 g/t AuEq, and 2.52 m of 18.26 g/t Au and 552.85 g/t Ag or 25.17 g/t AuEq within a broader interval grading 2.17 g/t Au, 78.14 g/t Ag or 3.15 g/t AuEq over 38.22 metres in hole 22DRDD026. 
    • 1.00 m of 9.43 g/t Au and 34.20 g/t Ag or 9.86 g/t AuEq, and 1.00 m of 6.41 g/t Au and 62.40 g/t Ag or 7.19 g/t AuEq within a broader interval grading 0.93 g/t Au, 8.46 g/t Ag or 1.04 g/t AuEq over 41.33 metres in hole 22DRD019. 
  • These results confirm the validity and accuracy of geological modeling, with planned holes intersecting strong mineralization where expected. 

 

Dukes Ridge Deposit

The Dukes Ridge Deposit accounted for 109,000 Indicated AuEq ounces in the 2021 Mineral Resource Estimate (May 14, 2021), with many of the gold-silver ounces beginning at or near-surface. The mineralized dimensions at Dukes now exceed 850 metres strike length and 325 vertical metres depth, and significant expansion potential exists as mineralization remains open to the north, south, and at depth. Continuity of mineralization to depth at Dukes is excellent, and the upcoming update to the MRE will include these latest drill results. 

Figure 1: Long-section at the Dukes Ridge Zone showing gold and silver results from a series of drill holes.

Figure 2: Cross-section at the Dukes Ridge Zone showing gold and silver results from a series of drill holes located up dip of 22DRDD022.

Table 1: Drill results summary from the Dukes Ridge Zone

Drillhole   From (m) To (m) Interval (m)* Au (g/t) Ag (g/t) AuEq (g/t)**
22DRDD012   257.00 341.40 84.40 0.43 22.26 0.71
267.00 269.00 2.00 1.50 157.13 3.47
  300.30 301.00 0.70 9.63 649.00 17.74
22DRDD018 152.00 153.10 1.10 2.59 361.00 7.10
273.23 296.00 22.77 0.52 81.62 1.54
282.07 285.00 2.93 1.51 232.13 4.41
22DRDD019   205.00 250.98 45.98 0.93 8.46 1.04
206.00 207.00 1.00 9.43 34.20 9.86
238.00 239.00 1.00 6.41 62.40 7.19
22DRDD022   359.00 416.00 57.00 1.72 64.41 2.52
398.94 408.00 9.06 6.87 182.72 9.16
398.94 401.00 2.06 16.53 511.80 22.93
  406.00 408.00 2.00 11.02 177.50 13.24
22DRDD024   229.00 253.00 24.00 0.27 69.11 1.14
241.50 242.12 0.62 5.66 975.00 17.85
381.00 396.00 15.00 0.44 33.44 0.86
394.15 395.52 1.37 2.66 111.35 4.05
22DRDD025   269.90 269.54 0.54 7.25 193.00 9.66
308.00 320.00 12.00 0.16 43.16 0.70
353.00 394.33 41.33 0.64 29.39 1.01
  353.00 353.50 0.50 6.11 279.00 9.60
22DRDD026   358.00 396.22 38.22 2.17 78.14 3.15
360.35 360.72 0.37 65.50 2600.00 98.00
392.18 394.70 2.52 18.26 552.85 25.17
  393.08 393.93 0.85 27.20 757.00 36.66

* 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.

About Benchmark Metals

Benchmark Metals Inc. is a Canadian based gold and silver company advancing its 100% owned Lawyer’s Gold-Silver Project located in the prolific Golden Horseshoe of northern British Columbia, Canada. The Project consists of three mineralized deposits that remain open for expansion, in addition to +20 new target areas along the 20-kilometre trend. 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.

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