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Benchmark hits high grades at Lawyers

Benchmark Metals (TSXV: BNCH) has hit up to 18.2g/t gold-equivalent in the first drilling in 27 years at the Amethyst Gold Breccia zone at its now fully-owned Lawyers gold-silver project in British Columbia.
Benchmark hits high grades at Lawyers Benchmark hits high grades at Lawyers Benchmark hits high grades at Lawyers Benchmark hits high grades at Lawyers Benchmark hits high grades at Lawyers

Benchmark reports up to 18.2g/t Au-eq from the AGB zone at its Lawyers project in BC

Staff reporter

The company reported 25m at 5.01g/t gold equivalent from 210m, including 7m at 5.37g/t gold and 213.66g/t silver; plus 2.1m at 10.01g/t gold and 654.43g/t silver or 18.2g/t Au-eq from 232.9m.

An historical estimate from 1985 defined a reserve at AGB of 452,600 tonnes at 8.321g/t gold and 263.5g/t silver, with limited production between 1989-1992, Benchmark said.

"The discovery of significantly greater-than-historical mineralised volumes at AGB enhances the potential to add resources to the Lawyers project, while AGB still remains open to the north and south," CEO John Williamson said.

The company sped up its acquisition of Lawyers, taking its ownership to 100% earlier this month after closing its three-cornered amalgamation with property owner PPM Phoenix Precious Metals Corp for C$250,000, 12 million shares on a pro rata basis for PPM shares and a 0.5% NSR.

Benchmark recently added a second rig to the drilling programme at its project in BC's "Golden Horseshoe" and is targeting plus-5 million ounces gold-equivalent.

Its initial 2018 resource comprised an inferred 88,000 ounces of gold and 4Moz of silver from the Cliff Creek North and Duke's Ridge zones.

The company had about C$1.25 million in working capital in June and has proposed a $5 million raising at 45c per unit for exploration at Lawyers and for working capital.

Its shares were around a two-year high of 45.5c earlier this month and last traded at 39.5c, capitalising it at $27.7 million (US$20.8 million).