- Benchmark Metals (BNCH) has uncovered a new gold zone at the Golden Horseshoe property in British Columbia
- The company found the trend through a recently completed ground magnetics survey on the property
- The company believes the new Marmot zone stretches 2 kilometres by 3 kilometres across the property
- Outcropping samples from the zone reached 61.3 grams per tonne gold and 3890 gram per tonne silver, for a gold equivalent of 109.9 grams per tonne
- Benchmark Metals (BNCH) is up 13 per cent and is trading at $1.33 per share
Benchmark Metals (BNCH) has uncovered a new gold zone at the Golden Horseshoe property in British Columbia.
The company has defined a mineralised structure showing a strong resemblance to another large mineralised area on the property. The area, known as the Marmot zone, is a highly prospective region, measuring two kilometres by three kilometres.
The company uncovered the zone through ground magnetic work recently conducted on the property. The work program defined a northwest trending fault system, which was embedded in the same host rock as many of the other known mineral deposits on the property.
The company completed some outcropping and sub outcropping work on the new zone, which returned grades up to 61.3 grams per tonne gold and 3890 gram per tonne grams per tone silver, for a gold equivalent of 109.9 grams per tonne.
Another sub outcrop returned a grade of 31.8 grams per tonne gold and 1590 grams per tonne silver, for an equivalent gold grade of 51.7 grams per tonne.
John Williamson, the CEO of Benchmark Metals, said the new discovery supports the conclusion that the trend is under-explored and had potential for multiple, large gold-silver bearing zones.
"The Benchmark team continues to develop and discover new targets while advancing the heart of the property with an aggressive resource definition and expansion drill program.
"Drill results from the on-going resource expansion drill program are anticipated following delivery of assay certificated from the laboratory and interpretation by the Benchmark team," he said.
Benchmark Metals (BNCH) is up 13 per cent and is trading at $1.33 per share at 1:00 pm EDT.