EDMONTON, Alberta, Aug. 29, 2018 (GLOBE NEWSWIRE) -- Benchmark Metals Inc. (the “Company” or “Benchmark”) (BNCH: TSX-V) (CYRTD: OTCQB) (A2JM2X: GER) is pleased to announce that geological crews are executing a comprehensive exploration program designed to rapidly assess the potential to expand the mineral resource for the Lawyers Gold & Silver Project, located in the Golden Triangle region of British Columbia, Canada. The program will utilize modern techniques and professional expertise to target existing and new zones within the 99 km2 land package where more than 80% of the area remains unexplored but holds high-grade gold and silver results from past campaigns.
CEO John Williamson commented, “Based on our extensive compilation and interpretive work to date that shows existing zones are open at depth and strike, Benchmark has undertaken the first comprehensive and systematic exploration to be performed in 25 years. The Project brings together the past-producing Lawyers gold-silver mine and the extensive Silver Pond trend of precious metals occurrences. This large prospective land holding presents a unique opportunity for further exploration on a 'camp' scale. There remains excellent potential for the discovery of additional low and high-sulphidation epithermal deposits like those that have been discovered and explored to date. In addition, there exists the possibility for the discovery of a near-surface or buried 'bulk tonnage' deposit which may offer the advantage of economies of scale should future mine development occur.”
Lawyers Gold & Silver Exploration Program
The field program was mobilized in July 2018 and will operate through to October 2018. An outline of the work to be performed includes:
- 4,000m expansion and new target drilling program – diamond core and reverse circulation;
- Airborne VTEM geophysics to identify new zones and trends;
- Drone flying and interpretation;
- Ground IP geophysics for deep penetrating 3D analysis;
- Soil and rock sampling; and
- Results for analysis to develop a 2019 large scale resource expansion drill program.
Lawyers Historical Results
The Lawyers Property is situated 45 km northwest of the Kemess Gold and Copper underground mine currently in construction. Five underground developments remain in-place, in addition to historical resources and new targets. Selected high-grade historical results from the 1980s includes:
- 2.0m at 1.20 oz/t gold (41.14 g/t) and 1.09 oz/t silver (37.37 g/t) (DDH 87CC76, Cliff Creek Central Zone);
- 1.0m at 1.17 oz/t gold (40.11 g/t) and 16.33 oz/t silver (559.89 g/t) (DDH 87CC42, Cliff Creek South Zone); and
- 11.0m at 0.204 oz/t gold (6.99 g/t) and 15.22 oz/t silver (521.83 g/t) (DDH 87CC71, Cliff Creek South Zone).
Shallow drilling on the Cliff Creek North Zone (above the 1700m level) in 1990 also produced encouraging intersections, including:
- 6.4m at 0.245 oz/t gold (8.40 g/t) and 7.13 oz/t silver (244.46 g/t) (DDH 90CC110); and
- Based upon historic drilling, an inferred mineral resource of 550,000 tonnes grading 4.51 g/t Au and 209.15 g/t Ag at a 4.0 g/t gold equivalent (“AuEQ”) lower cut-off was independently estimated for the Cliff Creek North zone, which equates to a contained metal resource of 80,000 troy oz. Au and 3,700,000 oz. of Ag (see Company News Release of June 14, 2018).
The diagram in Figure 1 below illustrates compilation work dating back to the 1980’s across 17 occurrences and 3 formerly producing zones. The occurrences and sample results overlay anomalous radiometric-highs.
Figure 1 – Anomalous Gold & Silver over Geophysics is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/1cb01b53-1900-4e1d-a77b-8a40a7bd8840
The technical content of this news release has been reviewed and approved by Michael Dufresne, P.Geol., 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 Frankfurt Stock Exchange in Germany. 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: Jim Greig, President jimg@BNCHmetals.com Tel: (604) 260-6977 | |
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CERTAIN STATEMENTS MADE AND INFORMATION CONTAINED HEREIN MAY CONSTITUTE “FORWARD-LOOKING INFORMATION” AND “FORWARD-LOOKING STATEMENTS” WITHIN THE MEANING OF APPLICABLE CANADIAN AND UNITED STATES SECURITIES LEGISLATION. THESE STATEMENTS AND INFORMATION ARE BASED ON FACTS CURRENTLY AVAILABLE TO THE COMPANY AND THERE IS NO ASSURANCE THAT ACTUAL RESULTS WILL MEET MANAGEMENT’S EXPECTATIONS. FORWARD-LOOKING STATEMENTS AND INFORMATION MAY BE IDENTIFIED BY SUCH TERMS AS “ANTICIPATES”, “BELIEVES”, “TARGETS”, “ESTIMATES”, “PLANS”, “EXPECTS”, “MAY”, “WILL”, “COULD” OR “WOULD”.
FORWARD-LOOKING STATEMENTS AND INFORMATION CONTAINED HEREIN ARE BASED ON CERTAIN FACTORS AND ASSUMPTIONS REGARDING, AMONG OTHER THINGS, THE ESTIMATION OF MINERAL RESOURCES AND RESERVES, THE REALIZATION OF RESOURCE AND RESERVE ESTIMATES, METAL PRICES, TAXATION, THE ESTIMATION, TIMING AND AMOUNT OF FUTURE EXPLORATION AND DEVELOPMENT, CAPITAL AND OPERATING COSTS, THE AVAILABILITY OF FINANCING, THE RECEIPT OF REGULATORY APPROVALS, ENVIRONMENTAL RISKS, TITLE DISPUTES AND OTHER MATTERS. WHILE THE COMPANY CONSIDERS ITS ASSUMPTIONS TO BE REASONABLE AS OF THE DATE HEREOF, FORWARD-LOOKING STATEMENTS AND INFORMATION ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON SUCH STATEMENTS AS ACTUAL EVENTS AND RESULTS MAY DIFFER MATERIALLY FROM THOSE DESCRIBED HEREIN. THE COMPANY DOES NOT UNDERTAKE TO UPDATE ANY FORWARD-LOOKING STATEMENTS OR INFORMATION EXCEPT AS MAY BE REQUIRED BY APPLICABLE SECURITIES LAWS.