Edmonton – July 27, 2022 – Benchmark Metals Inc. (the “Company” or “Benchmark“) (TSX-V: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) – is pleased to provide an update on exploration drill planning of multiple new targets in close proximity to the 619,000 ounce, 1.65 grams per tonne gold equivalent in the Measured and Indicated, AGB Deposit1. The targets include a large kilometre-scale, fault-bounded geophysical target adjacent to the existing deposit. The Company’s flagship Lawyers Gold-Silver project is located within a road-accessible region of the prolific Golden Horseshoe area of north-central British Columbia, Canada. 

John Williamson, CEO commented, “We continue to develop large new targets in close proximity to the existing deposits that have never been drill-tested. These new targets demonstrate similar geochemical and geophysical characteristics to the known zones of mineralization in close proximity to the high-grade AGB Deposit. The new targets exhibit significant new discovery potential and are high priority drill areas. The Company continues to finalize its Preliminary Economic Assessment and has geotechnical drilling in progress for the 2023 Feasibility Study.” 

AGB Target Area Highlights 

  • Large untested resistivity geophysical anomaly adjacent to AGB.
  • This resistivity body is interpreted as possible silicification related to mineralization associated with a large, steeply-dipping fault system. 
  • Three soil anomalies situated approximately 3 km to the north along-strike and within the same structural corridor as AGB, associated with the hanging-wall mineralization. 
  • Coincident VLF geophysical anomalies, similar to those seen at AGB.
  • These blind targets have not seen historical or contemporary drilling and have strong discovery potential to add additional gold-silver ounces given their proximity to existing deposit areas at Lawyers. 
  • Priority drill targets for the imminent summer campaign. 

The Company has produced multiple intriguing targets possibly related to mineralization adjacent to the high-grade AGB Deposit consisting of soil geochemistry anomalies coincident with IP and VLF geophysical anomalies in areas lacking outcrop exposure. These blind targets are situated both parallel to and along-strike of the north-trending faults controlling mineralization at AGB. 

Figure 1: Plan map of the AGB deposit and the prospective geochemical and geophysical targets proximal to the main deposit area.

July27 2022 Img1

Figure 2: Cross-section through the AGB deposit demonstrating favourable IP resistivity. 

July27 2022 Img2

Quality Assurance and Control

Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). The sampling program was undertaken by Company personnel under the direction of Rob L’Heureux, P.Geol. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Analysis by four acid digestion with 48 element ICP-MS analysis was conducted on all samples with silver and base metal over- limits being re-analyzed by atomic absorption or emission spectrometry. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.

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.