Benchmark Metals Geophysics Indicate New Discovery Targets and Expanded Zones of Known Mineralization
TSX VENTURE: BNCH
Edmonton, Alberta--(Newsfile Corp. - August 2, 2019) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) (the "Company" or "Benchmark") - is pleased to report the results of a successful ground geophysical program indicating a number of new target geophysical signatures and the potential for expansion of existing target zones along the highly prospective regional-scale (+)20 km Lawyers Trend situated in the Stikine Terrane of northern British Columbia, Canada, within the prolific, mineral-endowed 'Golden Horseshoe'.
John Williamson, CEO commented, "Benchmark has outlined several new geophysical signatures with early indications of gold and silver mineralization. The results of geophysical testing have significantly expanded the mineralized potential along strike and have provided a better understanding of the complex geological and controlling structures along the Lawyers Trend, which will enable better drill targeting in 2019 and beyond."
A detailed ground magnetic/Very Low Frequency ("VLF") ground geophysics program was completed during July over the Lawyers Trend and the subparallel AGB zone. The high definition ground magnetics and VLF have provided anomalous geophysical signatures for drill targeting new zones and expansion of the Cliff Creek, Dukes Ridge and Phoenix zones.
Figure #1 - 2019 VLF Ground Geophysics with Key Occurrences and Structures Overlian by Soil Sampling Results
Ground magnetics have highlighted the known Cliff Creek structure (and potential extensions to the north and south), which seems to control the spatial distribution of mineralization for Cliff Creek. The structure associated with mineralization at Dukes Ridge and Phoenix was also detected, and it can be seen coalescing with the Cliff Creek structure proximal to the Cliff Creek North resource. This magnetic anomaly between Dukes Ridge and Cliff Creek North represents 400 metres of untested geology that is highly prospective and will remain a focus of the 2019 exploration program. In addition, a second structure paralleling the arcuate Dukes Ridge structure to the southwest was noted in an area with little historical exploration. Ground magnetics have also refined the definition of structural elements at the past-producing Cheni Gold Mine (AGB) with current features appearing consistent with the historical production accounts. These results clearly show the prospectivity and importance of the structural controls of the Lawyers Trend.
VLF ground geophysical data collected along with the ground magnetics reveal conductivity anomalies markedly coincident with the magnetic anomalies discussed above. The Dukes Ridge structure shows a strong VLF signature underlying the known resource area that continues to the southeast underlying a soil anomaly established from the 2018 soil sampling work. The Cliff Creek North resource area is also underlain by a series of strong, parallel VLF anomalies coincident with gold and silver soil anomalism, which continue to the north for at least 275 metres into a region with no drill testing. VLF anomalies are also evident at AGB which appear to coincide with areas of past production. Soil sampling in 2019 has been extended to ensure full coverage of these geophysical anomalies with the intent to drill test them this year, which will assist with interpretation of the geophysical signatures and further drill targeting.
The technical content of this news release has been reviewed and approved by Michael Dufresne, 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 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
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.