Edmonton – November 22, 2018 – Benchmark Metals Inc. (the “Company” or “Benchmark“) (TSX-V: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) – is pleased to announce results from soil geochemistry and rock samples that reveal large new mineralized areas extending across new and existing zones, demonstrating the high potential for expansion of Benchmark’s mineral resource at its Lawyers Gold & Silver Project, located in the Golden Triangle region of British Columbia, Canada.
CEO John Williamson commented, “The latest geochemistry has unveiled a new, larger mineralized corridor around Cliff Creek and the adjacent Dukes Ridge and Phoenix zones. Cliff Creek and Dukes are located 500m apart and have the potential to coalesce and connect. Two new parallel zones are visible northeast of Cliff Creek and east of Marmot. Both new extensions have 500 metre surface expressions supported by geophysics to be targeted with future drilling.”
Cliff Creek Zone and Trend
The main Cliff Creek Zone is approximately 500 metres along strike with new geochemistry samples indicating a northern extension and an additional 500 metre extension to the northeast. Drilling during 2018 should positively impact the existing Cliff Creek Mineral Resource Estimate. The new mineralized geochemistry extensions have delineated an area for growth with future drilling. Mineralization trends with preliminary geophysics (radiometrics). This area has no historic sampling and appears to remain open on strike and down-dip. Drill results to date have provided long intercepts including 36.5 metres at 2.68g/t gold and 82.57g/t silver (DDH CC15-06) and, 26 metres at 2.42g/t gold and 100.26g/t silver (DDH CC15-06), announced on October 27, 2018. Additional 2018 results are pending that have the potential to extend the Cliff Creek Zone to the south.
Dukes Ridge Zone and Trend
The main Dukes Ridge Zone is approximately 500 metres along strike with new geochemistry samples indicating a 500 metre southeastern extension that connects both the Phoenix and Phoenix East zones. The new southeastern extension has delineated an area for growth with future drilling. Mineralization trends with preliminary geophysics (radiometrics). Infill and step-out drilling during 2018 should positively impact the existing Dukes Ridge Mineral Resource Estimate. Drill results to date have provided exceptional intercepts including 63.75 metres at 1.16g/t gold and 36.18 silver (DDH-DR15-05) and, 1.68 metres at 10.3g/t gold and 52.6g/t silver in (DDH DR15-01), announced on November 19, 2018. Additional 2018 results are pending that have the potential to infill and extend the Dukes Ridge Zone.
Marmot Zone and Trend
The main Marmot trend indicates a 500 metre geochemistry anomaly indicated by soils, rock samples and geophysics (VTEM-radiometrics K). Geophysics indicate a parallel trend, 900m to the Southeast. Exploration of the Marmot Zone provided a rock sample at 61.3g/t gold and 3,890g/t silver. In addition, rock samples up to 8.22g/t gold and 897g/t silver are located 1.3 kilometres northwest of the main Marmot trend. The Marmot Zones will be a focus for new target drilling during 2019.
Lawyers Project Mineralised Trend
The overall trends are defined by the soil geochemistry and the radiometrics geophysics anomaly that corresponds to the potassic alteration. The highest grades are hosted in a multi-phase hydrothermal breccia, locally containing 5-15% sulfosalts and pyrite. The breccia commonly contains sub-angular to sub-rounded clast of potassically altered andesite ranging from 1mm-2cm, in a sooty siliceous matrix containing fine grained sulfides.
Lawyers Gold and Silver Project
The Lawyers Property and formerly producing Cheni Gold and Silver Mine is located 45 km northwest of the Kemess Gold and Copper Mine. The Property contains an existing Mineral Resource and hosts at least 16 gold and silver occurrences that were never fully mined, developed or explored. The 99km2 prospective land package presents a unique opportunity for Benchmark to carry out exploration on a ‘camp’ scale. There remains excellent potential for the discovery of additional low and high-sulphidation epithermal precious metal deposits like those that have been discovered and explored to date in the Golden Triangle region.
Benchmark anticipates exploration program results and dissemination of news into early 2019.
98% of the Warrants set to expire on November 8, 2018 were exercised generating in $474,159 in working capital. To date, 27% of the Warrants set to expire on December 10, 2018 are exercised generating $128,999 in working capital. In addition, shareholders have exercised 4% of the Warrants set to expire on June 8, 2020 providing $150,125 in working capital.
Quality Assurance and Control
Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO 9001:2008 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 (+10g/t Au). Analysis by four acid digestion with 48 element ICP-MS analysis was conducted on all samples with silver and base metal overlimits re-analyzed by atomic absorption or emission spectrometry. Rock chip samples from outcrop/bedrock are selective by nature and they 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 Inc.
Benchmark Metals Inc. is a 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 focused on proving and developing the substantial resource potential of the Lawyer’s Gold and Silver project, located in the prolific Golden Triangle of northern British Columbia, Canada. Benchmark is led by a dynamic group of resource sector professionals who have a strong record of success in evaluating and advancing mining projects from exploration through to production, attracting capital and overcoming adversity to deliver exceptional shareholder value.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “John Williamson”
John Williamson, Chief Executive Officer
For further information, please contact:
Jim Greig, President
Tel: (604) 260-6977
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This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.