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Benchmark Develops Comprehensive Exploration Plan for Marmot and Marmot East Gold-Silver Targets
Edmonton, Alberta--(Newsfile Corp. - July 7, 2021) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the "Company" or "Benchmark") is pleased to announce a comprehensive exploration plan at the Marmot and Marmot East discoveries at its flagship Lawyers Gold-Silver Project, located within the Golden Horseshoe area of north-central British Columbia, Canada.
2021 Proposed Work Program - Marmot and Marmot East
- ~12,500m planned exploration drilling to follow up on the
2020 discovery hole of 101.00 m of 0.82 g/t AuEq (including
18.00m of 2.5 g/t Au), with:
- ~10,000 m planned at Marmot
- ~2,500 m planned at Marmot East
- Ground-based Induced Polarization (IP) surveys to
delineate subsurface chargeability and resistivity anomalies
that are associated with mineralization.
- 34.8 line-kilometres of induced polarization (IP) geophysics
- Expansion of detailed ground magnetics survey to expand delineated structural trends
- Extensive surface sampling and geological mapping
- Airborne VTEM geophysical and radiometric survey spanning
the southern half of the project to identify EM and
radiometric anomalies that could be associated with porphyry
and epithermal mineralization.
- 621 line-kilometres at 100 metre line spacing
John Williamson, CEO, commented, "Benchmark is seeing near-term potential for significant expansion of gold-silver ounces with the combination of drilling to expand the existing deposits and drilling to define brand new discoveries. The Marmot targets have significant potential to generate gold and silver ounces of the same scope and scale as the Cliff Creek deposit. The Marmot and other new targets are all road accessible with mineralization at surface."
The Marmot and Marmot East discoveries have a similar geochemical footprint to the Cliff Creek resource area (Figure 1), comparable airborne gamma-ray spectrometry (AGRS/radiometrics), magnetic and EM geophysical signatures and dimensions, and have delivered similar drill intercept widths and grades. Additionally, the Marmot and Marmot East areas are located within the same northwest-southeast trending structural corridor interpreted as a significant control on mineralization at Cliff Creek (Table 1).
Table 1: Cliff Creek and Marmot-Marmot East mineralization features
|Feature||Cliff Creek||Marmot and Marmot East|
|Au- and Ag-in-soil anomaly||✔||✔|
|Multi-element soil anomaly dimensions||1500x2000m||2000x3000m|
|NW-trending structure in magnetics||✔||
|Alteration - adularia, silica, propylitic||✔||
|Stratigraphy - Toodoggone Volcanics||✔||✔|
|Best rock grab samples||105.8 g/t AuEq*||58.5 g/t AuEq*|
|IP anomaly||Coincident resistivity high-chargeability low||IP survey pending|
*AuEq calculate based on an 80:1 silver to gold ratio
Completion of the proposed VTEM survey is imminent, and will resolve magnetic, EM, and radiometric anomalies at Marmot and Marmot East that remain open to the south. Benchmark will conduct a ground based induced-polarization (IP) geophysical survey prior to drilling to contextualize surface geochemistry and geological mapping results. It is likely that IP geophysics will be a strong targeting tool for Marmot and Marmot East due to a more robust correlation between total sulphide content and precious metals grades in drill core relative to other areas at the Lawyers Gold-Silver Project.
To view an enhanced version of Figure 1, please visit:
*AuEq calculated using an
80:1 silver to gold ratio.
**see press release dated May 14, 2021 for Benchmark's initial mineral resource estimate (MRE) covering Cliff Creek, Dukes Ridge-Phoenix, and AGB.
About Benchmark Metals
Benchmark Metals Inc. is a Canadian based gold and silver company advancing its 100% owned Lawyer's Gold-Silver Project located in the prolific Golden Horseshoe of northern British Columbia, Canada. The Project consists of three mineralized deposits that remain open for expansion, in addition to +20 new target areas along the 20 kilometre trend. The Company trades on the TSX Venture Exchange in Canada, the OTCQX Best 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:
Telephone: +1 604 260 6977
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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.
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