Benchmark Metals Inc.

  • ISIN: CA08162A1049
  • Land: .

Nachricht vom 26.05.2020 | 15:01

Benchmark Provides New Target for Porphyry & Epithermal Potential at Its Gold-Silver Project

DGAP-News: Benchmark Metals Inc. / Key word(s): Miscellaneous
26.05.2020 / 15:01
The issuer is solely responsible for the content of this announcement.

Edmonton, Alberta--(Newsfile Corp. - May 26, 2020) -  Benchmark Metals Inc. (TSXV: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) (the "Company" or "Benchmark") is pleased to announce a new target area for porphyry potential. Sample analysis has resulted in a 4 km2 area at the Silver Pond Zone that provides alteration assemblages and large scale zonation patterns that are helping vector towards potential porphyry or high-sulphidation mineralization. This large zone of alteration has never been drilled, mapped, or effectively explored and is only 850 m northwest of the low-sulphidation mineralization at Cliff Creek and the heart of the Lawyers property, located 45 km from the world-class Kemess Au-Cu Porphyry Deposit.

John Williamson, CEO commented, "The Toodoggone district has many high-sulphidation and porphyry deposits and we are very encouraged by our initial results that point towards this style of mineralization at Lawyers. An expanded 2020 work program has been designed to further our understanding of this large anomaly in preparation to establish multiple targets for drilling".

A hyperspectral or SWIR (short-wave infrared) analysis of clay samples and detailed clay mapping was completed over a large (>4km2) advanced argillic alteration zone adjacent to the historical Silver Pond Zones. This type of alteration is related to moderate-high temperature and high acidity fluids that are typically associated with the surface expression of the fluids from porphyry and high-sulphidation systems (Figure 2). Advanced argillic alteration minerals including alunite and dickite are found throughout the area with two notable clusters: 1) numerous dickite locations in the northeast and 2) alunite-dickite in the southwest (Figure 1). Other clay minerals found on the periphery of the advanced argillic alteration include highly crystalline kaolinite and white mica. Zonation of the alteration assemblage and crystallinity within the broader alteration footprint can be used as a proxy for fluid temperature and pH, indicating fluid flow paths, with the potential to vector to a magmatic source at depth. The clay minerals show higher crystalline varieties in the southwest, indicating higher temperature fluid flow (more typical of mineralizing fluids) in those areas (Figure 1).

Analysis of soil and rock geochemistry indicate that there is an association between Au-Ag mineralisation and elevated Cu, Mo, Zn, As, Sb and Te at Silver Pond, whereas at AGB, Cliff Creek and Dukes Ridge this metal association is not evident. These distinct metal associations could indicate multiple mineralization events, different fluid source, or mechanisms for ore deposition and metal zonation indicating different levels within the mineralised system. In particular, the elevated Cu and Mo could suggest proximity to a porphyry system.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6169/56518_58b9263f7494498d_001.jpg
Figure 1: Hyperspectral clay alteration assemblage map (upper) and clay crystallinity map (lower).

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6169/56518_58b9263f7494498d_001full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6169/56518_58b9263f7494498d_002.jpg
Figure 2: Imagery showing the extensive clay alteration at Silver Pond and the spatial relationship to the Cliff Creek Zone (upper image). Schematic illustration of alteration zoning and overprinting relationships in a porphyry system (modified after Holliday and Cooke 2007; Cooke et al. 2014; Cook et al., 2017).

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6169/56518_58b9263f7494498d_002full.jpg

Quality Assurance and Control
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.

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:
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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/56518

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News Source: Newsfile


26.05.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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