Edmonton, Alberta--(Newsfile Corp. - August 6, 2020) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) (the "Company" or "Benchmark") - is pleased to announce results from drill-hole 20CCRC003 that intersected, from surface, broad mineralization that yielded 57.91 metres (m) of 1.90 grams per tonne (g/t) gold and 91.96 g/t silver or 3.05 g/t gold equivalent* (AuEq). Within this mineralized envelope higher-grade intervals include 33.53 metres of 3.17 g/t gold and 152.28 g/t silver or 5.07 g/t AuEq*. This result is the first assays received from over 20,000 completed metres from 117 holes as part of our planned 50,000 metre drill program. The Company anticipates disclosure of additional results from August through to November 2020 in support of a new Mineral Resource Estimate. 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, "This drill hole was targeting a zone of limited historical drilling east of the Cliff Creek main zone and outside of the modeled mineralization. This significant result of both high-grade and bulk-tonnage mineralization is very encouraging as it will provide additional tonnage, better strip ratio and improved gold and silver grades for the Cliff Creek resource potential. Benchmark is rapidly advancing the project with near-term drill results and milestone events in the context of record gold prices."
Table #1: Selected results for drill-hole 20CCRC003
|Drill-Hole 20CCRC003||From (m)||To (m)||**Interval (m)||Gold (g/t)||Silver (g/t)||*Au-Eq (g/t)|
*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.
The mineralized zone included high-grade intervals within a broad zone of bulk-tonnage mineralization (see Image #1) hosted in the hanging-wall of a steeply northwest dipping fault, typical of the Cliff Creek zone and analogous to the 2019 eastern zone discovery of 2.09 g/t gold and 87.83 g/t silver or 3.19 g/t AuEq across 36.30 metres core length.
The new result indicates mineralization begins at surface and remains open in all directions. The mineralization occurs in a multi-phase hydrothermal breccia which contains fine grained sulfosalts, native silver, and is associated with strong potassic alteration and faulting. Ongoing drilling across the entire Cliff Creek Zone, Dukes Ridge to Phoenix and AGB zones is focused on expanding and defining new mineral resources.
Image #1 - Cliff Creek Zone Drill Section
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 portfolio of companies. Metals Group is an award-winning team of professionals who stand for technical excellence, painstaking project selection, uncompromising corporate governance and a unique ability to pan through the rubble to discover and develop golden opportunities.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "John Williamson"
John Williamson, Chief Executive Officer
For further information, please contact:
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.