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New, old data creates high priority for Benchmark

Recently-acquired data has led Benchmark Metals (TSXV: BNCH) to name the previously-mined Amethyst Breccia Zone a high priority target for 2019 drilling at its Lawyers project in British Columbia.
New, old data creates high priority for Benchmark New, old data creates high priority for Benchmark New, old data creates high priority for Benchmark New, old data creates high priority for Benchmark New, old data creates high priority for Benchmark

Benchmark is aiming to expand the gold-silver resource at its Lawyers project in BC

Staff reporter

It said the data, geological compilation and reinterpretation had revealed "significant potential to add gold and silver ounces in unmined areas", citing historic drill results at AGB including 3m at 259.76g/t gold and 3,320.3g/t silver.

Benchmark said the AGB Zone was just 2km from the main resource expansion area at Lawyers and was under-explored and never fully mined.

The company is aiming for a 5 million ounce gold-equivalent resource at Lawyers after establishing a maiden 88,000oz gold and 4Moz silver resource last year. 

The former Cheni mine at Lawyers is said to have produced 171,200oz of gold and 3.6Moz of silver between 1989-1992.

Benchmark is earning an initial 51% of Lawyers from PPM Phoenix Precious Metals and had spent $2.2 million by December of the required $5 million (US$3.7 million) spend on exploration by June 2021.

It can earn up to 75% by issuing shares and spending a further $4 million (US$3 million) on exploration in the same timeframe.

It expanded the project last month by 30% by staking new claims to take the land package to 127km2.

Benchmark last month said Sprott Asset Management had made the lead order in its flow-through share placement at 22c that raised $1.9 million (US$1.4 million) in the first and second tranches.

The company's shares are up 20.8% year-to-date, last trading at 29c to capitalise it at $14.7 million (US$11 million).