Benchmark Metals Inc.

  • ISIN: CA08162A1049
  • Land: .

Nachricht vom 16.08.2019 | 22:08

Benchmark Drills 11.7 g/t Gold and 476 g/t Silver over 4.4 Metres in the First Completed Drill Hole of 2019

DGAP-News: Benchmark Metals Inc. / Key word(s): Miscellaneous

16.08.2019 / 22:08
The issuer is solely responsible for the content of this announcement.


Edmonton, Alberta--(Newsfile Corp. - August 16, 2019) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) (the \"Company\" or \"Benchmark\")  - Benchmark is pleased to report the first drill hole result at the Lawyers Trend (Cliff Creek Zone). Drilling has intersected 11.73 g/t gold and 476 g/t silver over 4.4 metres core length and within a wider zone grading 2.19 g/t gold and 85.36 g/t silver over 26.75 metres core length in drill hole 19CCDD001. The Lawyers Project is situated in the Stikine Terrane of northern British Columbia, Canada, and falls within the prolific, mineral-endowed 'Golden Horseshoe.'

John Williamson, CEO commented, \"Drilling at Cliff Creek continues to intersect high-grade mineralization over 3 to 10 metres of core length and bulk-tonnage mineralization of up to 80 metres core length over a strike length of at least 400 metres, with intercepts as deep as 200 metres. Our visual and XRF examination of the drill intercepts correlates well with our analysis of the higher-grade portions of prior drill results.\"

During Phase 1 of its 2019 drill program, the Company completed 1,600 metres of diamond drilling in seven holes at the Cliff Creek portion of the Lawyers Trend. Intervals of intense alteration, multiphase veining and mineralization were intersected in all seven drill holes. These holes have been logged, sampled and sent to ALS Laboratories for analysis. Assay results for the remaining six holes will be forthcoming. Selected results received for the first drill hole at Cliff Creek are presented in Table 1.

A cross-section of 2019 drilling at the Cliff Creek Zone is presented in Figure 1. Drill hole 19CCDD001 intersected a portion of the Cliff Creek West (CCW) zone which was not historically sampled or modelled in the early to mid-1980's. Later drilling in 2015 intersected both the CCW and the Cliff Creek East (CCE) zone. Both of the CCW and CCE zones comprise a 4-7 metre high-grade zone within a broader zone of approximately 23-30 metres of 2-5 g/t Au bulk tonnage mineralization. Drill hole 19CCDD001 and the deeper 50 metre step-out hole 19CCDD005 indicate that the CCW and CCE zones of mineralization persist to depth.

Both the CCW and the CCE zones contain hydrothermal breccias and multiphase stockwork veins with fine grained sulphides (pyrite, acanthite and sulfosalts), within andesitic volcanics that have been pervasively altered with silica and adularia, the main alteration assemblage.

Table 1 - Selected results from the first drill hole:

HoleFrom - To length (m)Gold (g/t)Silver (g/t)AuEq (g/t)1Interval2
19CCDD0013.35m to 6.0m2.0171.182.902.65m
19CCDD001144.25m to 176.0m2.1985.363.2526.75m
including 144.25m to 156m 4.69189.997.0611.75m
including 145m to 150.4m 9.77398.0414.755.40m
including 146m to 150.4m 11.73476.0317.684.40m

 
Notes:

  1. Gold equivalent (AuEq) calculated using 80:1 gold to silver ratio.
  2. Intervals are core-length. True-width is estimated between 80 to 90% of core length.

Table 2 - Mineralized zones in each hole at Cliff Creek:

Alteration, mineralization and vein intersections observed in the core from all seven Phase 1 holes are presented in Table 2. Most of the holes exhibit multiple zones of mineralization and have XRF signatures indicating the presence of alteration and precious metal mineralization.

Drill HoleStatusObserved Mineralized ZonesDepth (m)Core SizeMineralized Intersections (m)
(based on visual inspection)
19CCDD001Results completed2248.44NQ23.35 - 6
144.25 -176
19CCDD002Drilling completed3214.88NQ281-104.72
127.25- 130.05
158.75-173.1
19CCDD003Drilling completed2249.02NQ2 58.7-66.94
146.27-190.18
19CCDD004Drilling completed1
(continues for ~100m)
184.40NQ2 33.25-110.05
19CCDD005Drilling completed2322.17NQ2 115.15-157.45
230- 259.1
19CCDD006Drilling completed3172.82NQ230.45-70.05
90.72-93.25
111.35-125.16
19CCDD007Drilling completed2209HQ/NQ2106-134.11
156.5-163.57

 

Figure #1 - 2019 drilling cross-section at the Cliff Creek Zone

Showing two significant and continuous mineralized zones intersected in drill holes 19CCDD001 and 19CCDD005, infilling gaps in historical drilling, and extending mineralization to depth beyond the historical drilling.

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The technical content of this news release has been reviewed and approved by Michael Dufresne,
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:
Jim Greig
Email: jimg@BNCHmetals.com
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.

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