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June 25, 2019
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Benchmark Provides Initial High-Priority Targets For Phase 1 Drill Program
Edmonton – June 25, 2019 – Benchmark Metals Inc. (the "Company" or "Benchmark") (TSX-V: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) – is pleased to provide the Phase 1 expansionary drill plans, targeting high-grade mineralization within wide bulk-tonnage intercepts, at the main mineralized zones within the Lawyers Trend. Benchmark anticipates a mid-July start date with Phase 1 drilling to include 25 drill holes, totaling over 4,700 metres. Additional drill targeting is in progress for up to 30,000 metres of drilling. The Lawyers Project is situated in the Stikine Terrane of northern British Columbia, Canada, and falls within the prolific, mineral endowed ‘Golden Horseshoe’.
Lawyers Trend: Cliff Creek – Dukes Ridge – Phoenix Zones
The Cliff Creek, Dukes Ridge and Phoenix zones along with the adjacent AGB historically mined area, collectively within the Lawyers Trend, represent a 5 kilometre by 4 kilometre radiometric anomaly that is coincident with potassic alteration, anomalous soil and rock geochemistry and high-grade gold-silver drill results. The K/Th ratio from the radiometric aerial survey highlights areas of known mineralisation as shown in Figures 1 and 2.
The Cliff Creek drilling is planned within and beyond the existing resource area including to the far south, targeting high-grade mineralization within a wider broad bulk-tonnage shell, with the goal of resource expansion and delineation (Figure 1). The drilling also aims to infill the bulk-tonnage mineralization model in areas which were historically only targeted as narrow high grade intercepts. Selected drilling from previous campaigns includes 87 g/t gold and 2,407 g/t silver across 2.4 metres core length (CC15-15), 1.58 g/t gold and 40.20 g/t silver across 58.24 metres core length (CC15-13), 1.1 g/t gold and 16.69 g/t silver across 38.09 metres core length (18CCRC010), including 10.45 g/t gold and 78.10 g/t silver across 1.52 metres core length, and 1.57 g/t gold and 89.19 g/t silver over 70.1 metres core length (90CC99).
The Dukes Ridge expansion drilling also targets high-grade mineralisation within a broad bulk-tonnage shell along the Dukes Ridge and Phoenix structures with the goal of resource expansion and delineation (Figure 1). Selected drilling from previous campaigns includes intersected 5.76 g/t gold and 128.65 g/t silver across 33.52 metres core length (18DRRC010), including 52.02 g/t gold and 846.44 g/t silver across 3.05 metres drill length.
The Phoenix drilling will target the high-grade Phoenix Vein at depth below and along strike of the successful exploration holes in 2018 (Figure 1). Selected drilling from previous campaigns include 10.99 g/t gold and 819.43 g/t silver across 3.95 metres core length (18PXDD002), and 125.01 g/t gold and 3589 g/t silver across 1.03 metres core length (PX92-10).
Lawyers Trend: Amethyst Gold Breccia Zone (AGB)
The AGB historical mine area is situated within a zone of pervasive potassic alteration resulting in a large, +1 km2 radiometric anomaly which is coincident with the known mineralization. The drilling strategy in 2019 at AGB is three-fold: 1) to test the high-grade mineralization in the main zone; 2) to step-out to the south away from the historical workings and expand the strike extent; and, 3) test a new target east of the workings with the potential to be a parallel mineralized structure (Figure 2). Geochemistry, potassic alteration and a geophysical anomaly indicates a minimum strike length of +500 metres. Selected drilling from previous campaigns include 108.36 g/t gold and 911.2 g/t silver across 7 metres core length (DDH81AS43), 6.96 g/t gold and 254.70 g/t silver across 57.9 metres core length (DDH82AS16), and 2.02 g/t gold and 123.77 g/t silver across 30 metres core length (DDH80-18).
In addition to drilling, soil and rock sampling and detailed geological mapping are planned over the large radiometric anomalies at the main zones and across the property, to help constrain the target areas. A drone survey will extend the 2018 aerial imagery coverage, and a ground magnetic and VLF-EM survey will be completed in July, over Cliff Creek, Dukes Ridge, Phoenix and AGB, to delineate important geological features including the structures which play an important role in controlling the mineralization.
Was die Warrants angehen waren die Letzten im Kurs höher angeboten wie der Kurs in Kanda bei 0,27 Stand
Current Shares Outstanding & Market Capitalization @ $0.335 51.3 M $17.1 M
Estimated Working Capital $2.5 M
In the money Warrants* 18 M $4.0 M
In the money Options 3.4 M $0.6 M
In the money Diluted Working Capital $4.6 M
In the money Diluted Shares & Market Capitalization @ $0.335 72.7 M $24.3 M
Fully Diluted Working Capital $7.1 M
Fully Diluted Shares and Market Capitalization @ $0.335 73.9 M $24.8 M