Edmonton – September 2, 2020 – Benchmark Metals Inc. (the "Company" or "Benchmark") (TSX-V: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) – is pleased to announce results for the first phase of drilling at Cliff Creek including drill hole 20CCDD011 which intersected three discrete zones (Table 1) including:
- 31 metres (m) of 2.98 grams per tonne (g/t) gold and 72.77 g/t silver or 3.89 g/t gold equivalent* (AuEq);
- 6 m of 6.95 g/t gold and 280.67 g/t silver or 10.45 g/t AuEq; and
- 12.85 m of 2.20 g/t gold and 67.23 g/t silver or 3.04 g/t AuEq near the bottom of the hole.
This almost continuous mineralization from near surface to higher-grade material at depth should favourably impact the future mineral resource estimate and pit-shell design characteristics. Benchmark’s flagship gold-silver project is located in a road-accessible area of the Golden Horseshoe in north-central British Columbia, Canada.
John Williamson, CEO, commented, “Seeing these early results from Cliff Creek highlights our belief in the underexplored nature of the area where multiple, discrete zones occur within the same hole. Hole 20CCDD011 is essentially mineralized from top to bottom including excellent grades and widths in the Main and East zones. The high-grade near surface mineralization helps considerably with the economic potential during the first few years of a potential mining scenario. Additionally, the other shallower holes in the east zone have significant potential to add more gold-silver mineralization and ounces in areas of previously unrecognized mineralization that also remains open at depth and will be tested in the coming weeks. Drilling continues to progress exceptionally well at Cliff’s Creek, AGB, and the Dukes Ridge-Phoenix zone and we look forward to releasing more results as they become available”.
The Company has completed nearly 40,000 metres of drilling from 195 holes as part of up to 100,000 metre planned drilling in 2020. An additional six holes are reported below with high-grade intercepts and bulk tonnage mineralization at varying depths from 15 to 270 vertical metres from surface showing the depth continuity and parallel zones present at Cliff Creek. No underground mine workings or stopes were intercepted in any of these drill holes, demonstrating the excellent continuity of mineralization that remains.
The group of holes reported for the north-end of the Cliff Creek Zone are helping to define and expand mineralization across Benchmark’s largest zone. The Cliff Creek Zone is providing a consistent ratio of approximately 40:1 silver to gold. The heart of the property continues to provide robust gold results and is showing significant quantities of silver. The substantial value potential for silver is represented in the selection of new drill-holes as follows:
- 20CCDD001 – 593.33 g/t silver and 11.07 g/t gold over 1.65 m;
- 20CCDD002 – 289.00 g/t silver and 9.87 g/t gold over 1.22 m;
- 20CCDD004 – 435.00 g/t silver and 8.01 g/t gold over 0.68 m;
- 20CCDD005 – 1,012.96 g/t silver and 23.16 g/t gold over 1.42 m, and;
- 20CCDD011 – 280.67 g/t silver and 6.95 g/t gold over 6 m.
Drill hole 20CCDD001 returned 13.8 m of 2.57 g/t gold and 114.24 g/t silver or 4.00 g/t AuEq from shallow depths in the East Zone up-dip from drill hole 20CCDD004 which yielded 17.26 m of 1.19 g/t gold and 42.16 g/t silver or 1.71 g/t AuEq. On the same section, drill hole 20CCDD002 returned deep mineralization starting at 250 vertical metres from surface: 38 m of 0.7 g/t gold and 28.39 g/t silver or 1.06 g/t AuEq. These results continue to demonstrate that the mineralization is strong at depth.
Continued drilling in the 2020 program will include deeper holes beneath holes like 20CCDD002 in an effort to define deeper mineralization extending open pit optimizations at depth and/or future underground extraction scenarios.
Table #1 – Selected drill results from Cliff Creek
*Gold equivalent (AuEq) calculated using 80:1 gold to silver ratio.
** Intervals are core-length. True width is estimated between 80 to 90% of core length.
*** 106.68m intercept includes some internal dilution
Quality Assurance and Control
Results from samples were 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 (+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. Rock chip samples from outcrop/bedrock are selective by nature and 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
Benchmark Metals Inc. is a Canadian mineral exploration company focused on proving and developing the substantial resource potential of the Lawyer’s Gold-Silver Project, located in the prolific Golden Horseshoe of northern British Columbia, Canada. The Company trades 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.
|Benchmark is part of the Metals Group of companies, managed by an award-winning team of professionals who stand for technical excellence, painstaking project selection and uncompromising corporate governance, with a proven ability to identify and capitalize on investment opportunities and deliver shareholder returns.|
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “John Williamson”
John Williamson, Chief Executive Officer
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