BRITISH COLUMBIA – Benchmark Metals has expanded the Phoenix zone at its Lawyers gold-silver project in the province’s Golden Triangle after intersecting gold and silver mineralization in step out drilling grading as high as 11 g/t gold and 819 g/t silver over 4 metres from 69 metres downhole.
Other highlights included 6.15 g/t gold and 124.37 g/t silver over 4 metres from 60 metres downhole including 21.8 g/t gold and 340 g/t silver over 1.14 metres from 63 metres downhole as well as 1.36 g/t gold and 172.3 g/t silver over 4.5 metres from 9 metres downhole.
The company drilled 730 metres across seven holes along strike and down dip of Phoenix to the southeast on the Lawyers trend. Based on its drilling, the company believes the mineralization it intersected extends at least 175 metres along strike and is open at depth below 50 metres from surface. The company intends to follow up on these initial drill results with further drilling at Phoenix in 2019.
Cheni Gold Mines briefly mined Phoenix in the early 1990s. Historical records indicate the company milled 4,394 tonnes, producing more than 6,700 oz. gold and more than 296,000 oz. silver at 38.56 g/t gold and 1,700 g/t silver.
In June 2018, Benchmark tabled a maiden resource estimate for Lawyers. The project contains 550,000 inferred tonnes grading 4.51 g/t gold and 209.15 g/t silver, or 6.69 g/t gold equivalent, for 80,000 oz. gold and 3.7 million oz. silver at its Cliff Creek North zone, as well as 58,000 inferred tonnes grading 4.3 g/t gold and 139.13 g/t silver, or 5.75 g/t gold equivalent, for 8,000 oz. gold and 260,000 oz. silver at its Duke Ridge zone.
Shares of Benchmark are currently trading at 18¢ with a 52-week range of 16¢ to 39¢. The company has a $7 million market capitalization.
This story first appeared on www.NorthernMiner.com.