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Be the first with the news that moves the market- Benchmark Metals (TSXV:BNCH) has mobilised drill rigs and field crews ahead of an exploration program in the Toodoggone region of British Columbia
- The majority of the program will focus on expanding existing resources and defining their extent at the Lawyers Gold-Silver Project
- Five drill rigs will be used to drill a total of 50,000 metres, with induced polarisation and magnetotellurics surveys also to be conducted
- The program is expected to last from July until December, 2020
- Benchmark Metals (BNCH) is currently up 2.74 per cent and is trading at C$0.38 per share
Benchmark Metals (TSXV:BNCH) has mobilised drill rigs and field crews ahead of an exploration program in the Toodoggone region of British Columbia.
The majority of the program will focus on the use of five drill rigs, which are planned to drill a total of 50,000 metres, targeting the expansion of existing resources at the Lawyers Gold-Silver Project in the well-established Golden Horseshoe area.
Benchmark Metals has anticipated the potential for these targets to be converted into multi-million-ounce gold and silver deposits.
In addition, the drill program will test other targets that have shown anomalous geological features, with the intention of identifying new at-surface mineralised zones.
On top of the proposed drilling, the upcoming program will also include induced polarisation and magnetotellurics surveys, detailed bedrock, alteration and structural mapping, extensive soil and rock sampling, and ongoing metallurgical work.
Geotechnical and baseline environmental data will also be collected over the course of the program.
Exploration on the Lawyers property and the surrounding region started in the late 1960s, peaking in the 1980s with the discovery of several deposits. These ultimately culminated in the development of the Lawyers gold-silver mine that operated from 1989 to 1992, during which time it produced 171,200 ounces of gold and 3.6 million ounces of silver.
John Williamson, CEO of Benchmark Metals, noted that the expansive program is a significant step towards determining the economic viability of the Lawyers Project.
“Benchmark will have five drill rigs turning and anticipates results from late July to December, 2020.
“The aggressive drill program is the first major milestone towards establishing a new resource estimate to be followed by economics that demonstrate the viability of a new gold-silver mine,” he added.
Benchmark Metals (BNCH) is up 2.74 per cent and is currently trading at C$0.38 per share at 1:04pm EDT.
