Edmonton, Alberta–(July 12, 2021) – Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the “Company” or “Benchmark“) is pleased to announce its detailed drill plan for the deposits where the objective is 1) classification drilling to convert inferred ounces to indicated, and 2) significant expansion drilling where the deposits remain open (Figure1). This approach to the drill campaign will convert inferred resources to indicated and provide significant opportunity to grow all three of the deposits for a future expanded and updated resource for inclusion in a feasibility study. Benchmark’s flagship Lawyers Gold-Silver Project is road accessible and located within the Golden Horseshoe area of north-central British Columbia, Canada.
John Williamson, CEO, commented, “The geological modelling has outlined areas in the deposits for significant expansion. Benchmark has near 3 million gold-silver ounces (2.1 Moz Indicated + 0.8 Moz Inferred) that will increase with targeted drilling within open-pitable areas that are near surface. The Project has world-class potential with growing resource areas and new zones that could provide large new discoveries across the 144km2 land package.”
Resource Expansion Drilling
A very successful late 2020 step-out and expansion drill campaign at the southern extent of the AGB zone defined an area from surface to depth where all of the drilling has 60+gram AuEq times metre (g/t AuEq*m) product, and extends over a strike extent of 150 metres (see March 31st news release). A significant portion of the 13,700 metres of planned exploration drilling at AGB is targeting the expansion of this zone at depth and along strike to the southwest (Figure 1), potentially adding significant gold and silver ounces.
Outside of the modeled pit shell at Cliff Creek South (CCS), 2020 results include 38.05 m of 5.80 g/t AuEq and 140 vertical metres below 20CCDD076 returned 21.98 m of 4.33 g/t AuEq. These results demonstrate the significant potential to extend CCS both at depth and along strike to the southeast. A similar scenario also exists at Cliff Creek North (CCN) where the pit is constrained by drilling and open for expansion accordingly, but with high-grade mineralization along strike at depth, it highlights the potential to continue expanding CCN. Approximately 24,000 metres of expansion drilling is planned at Cliff Creek.
The Dukes Ridge deposit is only constrained by drilling, which at its deepest is less than 200 vertical metres below surface (Figure 1). Significant high-grade intercepts in numerous locations towards the base of the modelled pit reveal the significant potential to grow and expand the current resource at depth. 9000+ metres have been planned to test this potential. Additional potential for growth could also be realized in the connector zone between Dukes Ridge and Cliff Creek as we continue to drill off this mineralized corridor.
Resource Classification Drilling
Benchmark has recently completed a classification block model to assist in the drill hole planning. The model indicates the current classification of the block, inferred/indicated/measured. It will then determine how many drill-holes are required to upgrade a block from one category to the next. This approach allows Benchmark to design the classification drill program very effectively within the modelled pit shells, upgrading any inferred resource to indicated. Between the three deposits a total of 37,000 metres of classification drilling is planned.
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.
Benchmark is part of the Metals Group of companies, managed by an award-winning team of professionals who stand for technical excellence, painstaking project selection and uncompromising corporate governance, with a proven ability to capitalize on investment opportunities and deliver shareholder returns.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “John Williamson”
John Williamson, Chief Executive Officer
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