Benchmark Metals (TSXV: BNCH; OTC: BNCHF) has announced a significant increase to the bulk tonnage mineral resource estimate (MRE) for its flagship Lawyers gold-silver project, which comprises mineralized deposits located within the Golden Horseshoe region of northern B.C.
A total of 1,097 drill holes for 200,000 metres of drilling at the Cliff Creek, AGB and Dukes Ridge deposits were used for latest mineral resource estimation. Collectively, their measured and indicated resources increased to 2.74 million oz. gold and 52.9 million oz. silver (67.4 million tonnes averaging 1.26 g/t gold and 24.39 g/t silver). There are also 378,000 oz. gold and 6.2 million oz. silver (4.87 million tonnes grading 2.39 g/t gold and 39.41 g/t silver) in the inferred category.
"The expanded mineral resource estimate is demonstrating the world-class potential of Benchmark's multi-million-ounce gold-silver deposits. The company has provided one of the highest-grade, open pitable mining projects in North America," John Williamson, Benchmark's CEO, commented.
Overall, total gold ounces at the Lawyers project have increased by 44%, with a vast majority (nearly 90%) of those in the measured and indicated category, which itself had a 77% improvement over the previous estimate.
The Cliff Creek deposit alone contains 2.59 million oz. gold in pit-constrained measured and indicated resources. AGB, another deposit designated as a starter pit, has 384,000 oz. gold measured and indicated. According to Benchmark, these two starter pits provide high-quality mineralization with an expected low strip ratio at surface (i.e. 1.7:1 for AGB) that has generated clean sulphide mineralogy free of deleterious elements with 93% gold metallurgical recovery.
"The project is demonstrating potential for economic mining methods with high-grade mineralization extending from surface to depth. The higher-grade core zones at surface will have a positive impact on economics in the forthcoming preliminary economic assessment," Ian Harris, Benchmark's VP of engineering, added. Completion of the Lawyers PEA is expected during the third quarter of 2022.
Given that all three deposits remain open for expansion, the company believes further resource growth is possible, and the project has numerous targets that may develop into near-mine satellite deposits. Ongoing drilling on the property is therefore focused on open extensions of near-surface, high-grade mineralization. Recent results that were excluded from the MRE are providing additional mineral resource expansion potential in several key areas including Dukes Ridge. The Dukes Ridge deposit recently generated positive results yielding 54.6 metres of 2.51 g/t gold and 97.05 g/t silver. Dukes Ridge remains open at depth.
In addition, the 20-km-long mineralized trend has provided clusters for multiple satellite deposits that require drill testing for additional new discoveries and resource growth, the company said.
Visit www.BenchmarkMetals.com for more information.
April 18, 2024
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