Edmonton, Alberta--(Newsfile Corp. - May 31, 2019) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) (the "Company" or "Benchmark") - is pleased to report new data from previously unpublished, historical drill results that were recently acquired for the Amethyst Gold Breccia (AGB) zone, a new target area within the Lawyers Property. Drill-hole 82AS25 intersected 86.06 g/t gold and 583.83 g/t silver over 7 metres at the Lawyers Gold-Silver Trend. The Lawyers Project is located in the Stikine Terrane, where magmatic events provided a source for mineralizing porphyry and epithermal systems. These mineralizing events form an arch of gold and polymetallic deposits around the Bowser Basin (that include Brucejack, KSM, Premier, Red Mountain, Bronson, GT Gold, Red Chris, and Kemess), referred to herein as the 'Golden Horseshoe', British Columbia, Canada.
AGB is located on a sub-parallel structure to the adjacent Lawyers Trend (see location map below) and shares similar anomalous gold-silver grades as the adjacent zones which have drill indicated high-grade and bulk tonnage intercepts. The AGB Zone has a +500 metre radiometric anomaly that is coincident with potassic alteration, anomalous rock samples, historical drilling and trenching. The Zone is located on the eastern side of the large 5 km by 8 km radiometric anomaly that is shared on the western portion with Cliff Creek, Dukes Ridge and Phoenix zones of the Lawyers Trend. With only limited data available for AGB and the eastern portion of the geophysical anomaly, it was not a focus of the limited 2018 work program, but is now a high priority target for an expanded property-scale work permit in 2019.
A historical estimate from Wright (1985) defined a proven reserve at AGB of 452,600 tonnes grading 8.321 g/t Au and 263.5 g/t Ag, which formed the basis for feasibility studies and a production decision for what became known as the Lawyers Mine. This development also included the construction of road access to the project and the nearby Sturdee airstrip, both of which are still used today. The potential quantity and grade stated above constitutes a historical estimate, parts of which have been mined, and is not to be relied upon. A qualified person has not completed sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and therefore Benchmark is not treating the historical estimate as current mineral resources or mineral reserves.
Benchmark continues to acquire, compile and interpret new data from over 40 years of mining and exploration work around the +20km Lawyers Trend. Additional AGB results, information and location maps will be forthcoming following interpretation and data validation. Benchmark is currently compiling data for approximately 17,000 metres of drilling and 4,500 assays, from surface and underground, with more than 600 assays and 600 metres of trench data along with underground channel sample data over the historically mined deposit. AGB will be a focus area for the 2019 exploration program.
The map provides the AGB target location relative to the adjacent Phoenix zone and Benchmark's existing mineral resource at the Cliff Creek and Dukes Ridge zones. The location of anomalous rock samples and historic drill-holes at AGB are shown over K-radiometrics, where data validation and interpretation are in progress.
AGB-Cliff Creek-Dukes Ridge-Phoenix Zones on K-Radiometrics
To view an enhanced version of this map, please visit:
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, President
Tel: (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/45198