Benchmark Adds a Fifth Drill Rig at its Gold-Silver Project and Provides Program Update

Mittwoch, 22.07.2020 03:05 von Newsfile - Aufrufe: 135

Edmonton, Alberta--(Newsfile Corp. - July 22, 2020) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X)(the "Company" or "Benchmark") is pleased to announce that it has added a fifth drill rig to its 50,000 metre drill program and provides an update on the drilling and field exploration completed to date. Over 10,500 metres has been completed from +60 drill holes targeting resource definition and expansion areas. Sample shipments to the laboratory are ongoing with assay results anticipated for early August. Benchmark's Lawyers gold-silver project is located in the Golden Horseshoe of north-central British Columbia, Canada.

John Williamson, CEO commented, "The addition of this third diamond drill rig increases our total drills on the project to five which will help us quickly advance towards our 50,000 metre program. The drilling program is going exceptionally well with the two diamond rigs performing ~30% ahead of anticipated drill meterage. Drilling at the Cliff Creek zone has intersected zones of alteration, veining, and mineralization in all holes to date. The geological field teams are performing detailed geological mapping, soil and rock sampling and the geophysical crews are near completion of ground magnetic and IP surveys at a number of zones."

All 2020 drilling to date is focused on defining and expanding a mineral resource from three (3) key areas: 1. Cliff Creek Zone, 2. Dukes Ridge to Phoenix Zones, and 3. AGB Zone. Field work has been effective at advancing new drill targets for potential new discoveries at the Silver Pond Porphyry target and the Marmot Zone.

Program Update

  • Drilling
    • +10,500 metres completed as of July 21
    • +60 drill holes completed as of July 21 with drilling Cliff Creek and AGB zones
    • 3rd diamond drill rig added for a total of 5 rigs

  • Geophysics
    • Ground Magnetics/VLF nearing completion at both Marmot and the Silver Pond Porphyry target
    • IP survey at Silver Pond is scheduled to be complete on July 23rd

  • Mapping
    • Detailed geological mapping is ongoing in the northern underexplored region of the property

  • Soil and Rock Sampling
    • Detailed soil grids have been completed at several key zones and property wide soils are ongoing
    • Results from soil and rock geochemistry could provide anomalous areas for expansion on known zones and provide indicators for new discovery zones
  • Infrastructure
    • Bridge capacity upgrades were completed in May and have capacity for 60 tonnes
    • Video highlighting the road accessible nature of the project - Benchmark YouTube

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Figure 1: Drill Rig at Cliff Creek

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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 Metals Inc. is a Canadian mineral exploration company focused on proving and developing the substantial resource potential of the Lawyer's Gold and 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 a member of the Metals Group of Companies, led by a dynamic group of resource sector professionals with a long track record of success in evaluating and advancing mining projects from exploration through to production; attracting capital and overcoming adversity to deliver exceptional shareholder value.

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Metals Group

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s/ "John Williamson"
John Williamson, Chief Executive Officer

For further information, please contact:
Jim Greig
Telephone: +1 604 260 6977


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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