Edmonton – October 9, 2018 – Benchmark Metals Inc. (the “Company” or “Benchmark”) (TSX-V: BNCH) (OTCQB: CYRTF) (GER: A2JM2X) (FKT: A7CA) – is pleased to announce the discovery of a new mineralized zone at the Lawyers Gold & Silver Project, located in the Golden Triangle region of British Columbia, Canada.
CEO John Williamson commented, “Benchmark geologists continue to discover exciting new mineralization at the project.The newest discovery lies 300 meters east along strike of the existing Phoenix Zone where 220g/t gold and +10,000g/t silver rock samples were collected at surface.There is potential that the new and existing zones are connected along the 2.5km mineralized corridor and they represent a large hydrothermal system.We believe the entire Lawyers package has tremendous potential for large new discoveries and for expansion of existing zones that were never fully mined in the 3 short years of mining operations during the late 1980’s.”
New Zone – Phoenix East
The Phoenix East Zone extends 300 meters to the southeast of the Phoenix Zone and lies on the same geological trend that potentially connects Cliff Creek, Dukes Ridge, and Phoenix to Phoenix East. Much of the intervening area between these zones has not been drill tested.In addition, all the known zones have not been adequately tested at depth and require drill testing to define the full depth extent, width and strike length of these zones.The Phoenix East occurrence has an approximate area of 300 meters by 200 meters.Selected rock grab sample results as follows:
- 3.61 g/t Au and 32 g/t Ag;
- 3.4 g/t Au and 131 g/t Ag;
- 3.3 g/t Au and 138 g/t Ag;
- 3.13 g/t Au and 96.5 g/t Ag; and
- 2.67 g/t Au and 127 g/t Ag.
Four (4) drill holes were have been completed at the Phoenix occurrence, but due to encouraging visual indications and XRF results, three (3) additional diamond core holes were completed. Sulphides and alteration were noted in each hole.Drilling at Phoenix was designed to test and trace high-grade surface showings previously reported on September 13, 2018. Drilling at Phoenix totaled 729 meters, with each drill hole approximately 100 meters in length.
Figure 1 - illustrates the location of selected high-grade rock results and of the new Phoenix East discovery
Figure #1 – New Discovery Zone ‘Phoenix East’
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 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 at strike, width and depth, extending across 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
Results from samples was analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO 9001:2008 accredited facility). 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 (+10g/t Au). Analysis by four acid digestion with 48 element ICP-MS analysis was conducted on all samples with silver and base metal overlimits re-analyzed by atomic absorption or emission spectrometry. Rock chip samples from outcrop/bedrock are selective by nature and they 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.S.c, 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
For further information, please contact:
Jim Greig, President
Tel: (780) 437-6624
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. 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.