EDMONTON, Alberta, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Benchmark Metals Inc. (the “Company” or “Benchmark”) (TSX-V: BNCH) (OTCQB: CYRTF) (GER: A2JM2X) (FKT: A7CA) – is pleased to announce commencement of drilling at the Lawyers Gold & Silver Project, located in the Golden Triangle region of British Columbia, Canada.
CEO John Williamson commented, “We are excited to begin our drill program that will target large mineralized zones that included recent rock samples of 220g/t gold, 160g/t gold, +10,000g/t silver and 5,370g/t silver. We are very encouraged that recent sampling is on trend to extend the existing resource and is above and along strike to historical drilling that graded 293.40g/t gold and 7,622g/t silver over 0.70m in the Cliff Creek Zone (DDH: CC15-12). The high-grade sampling represents some of the largest values that I have seen in my career. We are expecting this drilling to expand the existing resource at Cliff Creek and identify new resource potential at adjacent and connected zones across a 2.5km by 2.5km area.”
Drill Targets
The diamond (DD) and reverse circulation (RC) drilling program consists of about 4,000m targeting extensions to the existing resources along with shallow, near surface showings that were previously undefined and under-explored. Drilling at the Cliff Creek and Dukes Ridge resource areas includes step-out and deeper drilling to expand the margins of the existing maiden Resource Estimate announced on June 14, 2018.
Zones for immediate focus will include Phoenix, MGrid, Dukes Ridge and Cliff Creek. Each of the zones are areas where Benchmark geologists sampled high-grade gold and silver rocks. Each of the zones show anomalous gold and silver that extend on average over 500 meters at surface. The Phase 1 drill program will establish the potential for additional resources near surface and will test the potential for a significant new discovery.
Figure 1 below illustrates drill target locations over mineralized zones of selected high-grade rock results. Recent rock grab results were announced September 13, 2018 and September 4, 2018.
Figure 1 – Drill Target Locations accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e2bb06ed-5890-4639-852d-9d2bb3ccae26
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 (announced on June 14, 2018) and hosts a minimum of 16 existing gold and silver occurrences that were never fully mined, developed or explored. Work during the 2018 exploration program has focused on mineralized zones with exposure at surface. Each zone remains open along and across strike, and at depth with the potential to extend mineralization hundreds of meters. 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. In addition, there exists the possibility for the discovery of near-surface or buried ‘bulk tonnage’ deposits which may offer the advantage of economies of scale should future mine development occur.
Quality Assurance and Control
All samples are being analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO 9001:2008 accredited facility). The sampling program is being 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 is being 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 is being conducted on all samples with silver and base metal overlimits re-analyzed by atomic absorption or emission spectrometry. Appropriate standards, blanks and duplicates are or will be inserted as required for the drilling program. Rock grab samples from outcrop/bedrock are selective by nature and they may or 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 German Stock Exchanges 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
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.
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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.