Benchmark Commences 2021 Project Mobilization to Support 100,000 Metre Drill Program at Its Gold-Silver Project
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Edmonton, Alberta--(Newsfile Corp. - May 26, 2021) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the "Company" or "Benchmark") - is pleased to announce mobilizing a crew to its Lawyers Gold-Silver Project in preparation for the 2021 work program. Benchmark is preparing drilling, engineering, geotechnical, environmental baseline studies, regional new targets drilling, and definition drilling to advance its flagship gold-silver project. All 2021 work plans are fully funded with its ~$32 million treasury. Benchmark's Lawyers Gold-Silver Project is road accessible and located within the Golden Horseshoe area of north-central British Columbia, Canada.
Benchmark recently reported 2.1 million ounces of 1.62 g/t AuEq indicated and 821,000 ounces of 1.57 g/t AuEq inferred for its initial mineral resource estimate (MRE) (see press release May 14, 2021). All MRE zones at Cliff Creek, Dukes Ridge, and AGB remain open. The 2021 drill program will consist of expansion and definition drilling to extend the deposits along-strike and at depth, while moving gold-silver ounces from inferred to indicated and measured categories. Additionally, exploration drilling will also target new discoveries at Marmot, Marmot East, Lala, Gifford's Edge, M-Grid, and Silver Pond; located in close proximity to the MRE zones (Figure 1).
Figure 1. 2021 drill target zones for expansion, definition, and regional new discovery drilling.
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Major milestones will be completed in 2021 and 2022 as the Company creates more value for shareholders along the mine permitting path to production:
- 2021 - 50,000 metres of expansion and definition drilling over existing deposits;
- 2021 - 50,000 metres of regional new target and discovery drilling;
- 2021 August - Preliminary Economic Assessment (PEA);
- 2022 - Updated Bulk Tonnage Mineral Resource Estimate, and;
- 2022 - Feasibility Study.
Join Benchmark Metals for special meeting to discuss the Mineral Resource Estimate and upcoming milestones - Wednesday, May 26, 2021 at 10am PST - Webinar Link.
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 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.
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 capitalize on investment opportunities and deliver shareholder returns.
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ON BEHALF OF THE BOARD OF DIRECTORS
s/ "John Williamson"
John Williamson, Chief Executive Officer
For further information, please contact:
Jim Greig
Email: [email protected]
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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