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Benchmark Starts Work Program With Four Drill Rigs and Provides Exploration Update

Benchmark Starts Work Program With Four Drill Rigs and Provides Exploration Update


Edmonton – JULY 19, 2021 – Benchmark Metals Inc. (the “Company” or “Benchmark“) (TSX-V: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) – is pleased to announce the start of resource expansion and definition drilling. The Company has already completed in excess of 15,700 metres (m) of drilling with two (2) drill rigs positioned at the Cliff Creek deposit and two (2) dill rigs located at the AGB deposit. The Company has aggressively advanced new target areas with significant work completed to date that includes geophysics, mapping and soil & rock sampling. Four drills are currently operating on site, and two additional diamond rigs will be added in the coming weeks. Sample shipments to the laboratory are progressing, and initial drill assay results are anticipated in early August. Benchmark’s flagship Lawyers Gold-Silver Project is road accessible and located within the Golden Horseshoe area of north-central British Columbia, Canada.

To date, 2021 drilling has focused on expansion and conversion to the indicated category at the AGB and Cliff Creek deposit areas. Drilling at the Marmot and Silver Pond discoveries and additional exploration targets will begin in the coming weeks.

John Williamson, CEO commented,

The Company is operating one of the largest drill programs in Canada. Initial drilling has started and will target significant expansion areas to be included in an updated Mineral Resource Estimate. Benchmark has planned a minimum of 100,000 drill metres to aggressively expand the deposit areas and generate new gold-silver ounces from new targets. The regional exploration and drill program will find new discoveries.

Gold-Silver Program Update

  • Drilling
    • 15,700 m drilled as of July 17th
    • 2 additional drill rigs will be mobilized to site for a total of 6 drills
  • Geophysics
    • Ground-based Induced Polarization (IP) has been completed over Silver Pond North
    • Ground magnetics/VLF completed over Black Lake and Silver Creek areas, and the crew is moving on to an extension of the Silver Pond North grid
  • Mapping
    • Silver Pond North target displays zoned argillic into quartz-sericite-pyrite and propylitic alteration. The area exhibits quartz stockwork veining on trend with the resource areas
    • Silver Pond West target contains quartz stringers and abundant disseminated sulphide in a propylitic altered andesite
    • Round Mountain target has moderate QSP alteration with disseminated sulphide
    • Kodah target displays quartz veins hosted in a quartz-sericite-pyrite altered andesite
    • E-Grid target contains strongly propylitic-altered andesite with local potassic alteration. Quartz-sulphide veining and breccias are associated with potassic alteration, and much of the host andesite is also strongly silicified
    • The Black Lake Alteration Corridor contains quartz ridges and moderate copper mineralization along a large mapped structure. There is multi-phase quartz veining locally
  • Soil and Rock Sampling
    • >700 rock samples collected as of July 17th (Figure 1)
      • Majority of samples collected over the Silver Pond North and Marmot East discovery areas
    • >1900 soil samples collected as of July 17th (Figure 2)
      • Kodah, Round Mountain, and LaLa grids are now complete
      • Silver Pond extension and Black Lake grids are in progress
      • Extensions of the Marmot grids will begin in the coming week

Figure 1: 2021 collected rock samples

Figure 2: 2021 collected soils

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.

www.metalsgroup.com

 

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “John Williamson”

John Williamson, Chief Executive Officer

For further information, please contact:

Jim Greig

Email: jimg@BNCHmetals.com

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.

Source: Benchmark Metals

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