Edmonton – January 23, 2020 – Benchmark Metals Inc. (the "Company" or "Benchmark") (TSX-V: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) – is pleased to report the along strike and down-dip extension of both bulk-tonnage and high-grade mineralization at Duke’s Ridge. Drill hole 19DRDD003 intersected 1.26 g/t gold and 37.82 g/t silver or 1.73 g/t AuEq across 70.00 metres core length, including 47.40 g/t gold and 1111.00 g/t silver or 61.28 g/t AuEq across 0.99 metres core length. The mineralization is hosted within a broad zone of alteration and brecciation and includes a high-grade electrum-silver bearing quartz vein, similar to that intersected in drill hole 19DRDD004 (see Dec 11, 2019 Press Release; Figure 1). The bulk-tonnage and Phoenix style high-grade veins extend mineralization for over 350 metres along strike, over 140 metres vertical depth from surface, and confirm that the mineralized zone is both widening to the northwest and at depth (Figure 2).
John Williamson, CEO of Benchmark, commented, “Once again this result from the Duke’s Ridge-Phoenix corridor has delivered an excellent broad zone of bulk-tonnage and high-grade Phoenix style mineralization. This key resource zone will be a focus for the 2020 exploration program while continued confirmation of near surface mineralization has potential for open pit mining methods with little to no overburden and low stripping ratios”.
Table #1 – Selected results from 19DRDD003 (new) and previously reported drill holes.
|Hole||From (m)||To (m)||Gold (g/t)||Silver (g/t)||*AuEq (g/t)||Interval**|
*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.
Drill hole 19DRDD003 was designed to test the main Duke’s Ridge Zone at depth, below historical drilling and mineralization that begins at surface. A broad zone of potassic alteration and oxidation was intersected between 90 and 217 metres. This zone contains intervals of multiphase brecciation and minor veining, including an electrum & silver bearing Phoenix style vein at 98.73-99.72m. Higher in the section 18DRRC010 intercepted Phoenix-type grades of 52.02 g/t gold and 846.44 g/t silver or 62.60 g/t AuEq across 3.05 metres. These results indicate that there may be multiple high-grade zones within this broad zone of mineralization. The overlapping styles of mineralization encountered in 19DRDD003 can be traced along strike for over 350 metres and the system remains open in all directions. In addition, recent results from Cliff Creek (see Jan 8, 2020 Press Release), 600 metres to the northwest, suggest the Duke’s Ridge mineralizing system may extend along strike and merge. Delineating the Duke’s Ridge mineralization and possible Cliff Creek connection will be a focus for the 2020 exploration program.
Figure #1 – Plan map of 2019 drilling at Dukes Ridge and Cliffs Creek.
Figure #2 – Simplified cross-section of 19DRDD003 depicting the bulk-tonnage style mineralization encountered within this zone.
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 (+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 Inc.
Benchmark is a Canadian 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 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
For further information, please contact:
Telephone: +1 604 260 6977
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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.