EDMONTON, Alberta, Oct. 22, 2018 (GLOBE NEWSWIRE) -- Benchmark Metals Inc. (the “Company” or “Benchmark”) (TSX-V: BNCH) (OTCQB: CYRTF) (GER: A2JM2X) (FKT: A7CA) – is pleased to announce completion of the field exploration program at the Lawyers Gold & Silver Project, located in the Golden Triangle region of British Columbia, Canada.
CEO John Williamson commented, “The field program generated exceptional surface results including 220g/t gold and silver grades that exceeded laboratory detection levels at over 10,000g/t from rock samples. Benchmark crews surpassed total planned meterage and appear to have intersected significant mineralization on a program that was based on shallow, near surface drilling. We now have a better understanding of this large hydrothermal package that has already provided two new discoveries and we anticipate favourable assay results from step-out, infill and extension drilling on existing zones. In addition, the sampling of historical core is already showing potential to increase overall mineralized intercepts from previous drilling campaigns that was never fully sampled and included in the resource calculation.”
2018 Field Exploration Highlights
Field crews have completed a comprehensive exploration program with an opportunity for the development of near-surface high-grade structurally controlled epithermal precious metal deposits or buried bulk tonnage deposits. Hydrothermal alteration is observed over multiple 0.5km to 2km trends and indicates characteristics of a high-sulfidation precious metal deposits. The presence of a magmatic-hydrothermal system that includes high-sulfidation precious-base metal could be linked to a deeper porphyry-type mineralization. High gold-silver grades and adularia-silica alteration indicate characteristics of epithermal low-sulfidation precious metal deposits and has been observed overprinting the formerly described “porphyry-type” mineralization in the Phoenix area. Work completed during the 2018 exploration program includes:
- Historical compilation and interpretation;
- Drone flying and interpretation;
- Geochemistry – 1,041 soils and 312 rock samples;
- Resampling and logging of historical drill holes;
- Airborne VTEM geophysics to identify new zones and trends;
- 4,116m expansion and new target drilling program, results pending; and
- Full results analysis interpretation prior to planning for a 2019 large scale resource expansion drill program.
2018 Results & New Discoveries
Benchmark has submitted all 2018 drill samples, additional sampling of historical drill holes and all remaining surface samples to ALS Laboratory and await results throughout Q4, 2018. Upon full disclosure and interpretation of favourable results, Benchmark will plan towards an aggressive resource expansion program in 2019. Key results and observations to date include:
- New discoveries include Marmot Zone and Phoenix East Zone;
- All existing zones are open at strike, width and depth;
- Widespread silver-gold mineralization and alteration;
- Potential for silver-gold zones to coalesce along strike and down-dip;
- Average drill hole depth under 100m;
- 1,000m mineralized core intersections sampled from historical holes;
- Additional historical drill-holes available for resampling with over-looked mineralization (approx. 1,600m); and
- 90% of the 99km2 land package is under-explored.
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 along with a minimum of 16 existing gold and silver occurrences that were never fully mined, developed or explored. 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.
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, M.Sc., 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.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 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: (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.