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Be the first with the news that moves the market- Benchmark Metals (TSXV:BNCH) has resumed work on its 100,000 metre drilling program at Lawyers gold-silver project in British Columbia
- The property was purchased in 2018, and Benchmark has thus far completed 50,000 metres of drilling on the site
- ssays from the three-year program include 1.26 grams per tonne gold and 37.82 grams per tonne silver over 70 metres
- Benchmark intends to release an updates resource estimate at the end of the drilling program this year, working up to a preliminary economic assessment next year
- Benchmark Metals (BNCH) is up 4.1 per cent and is trading at C$0.38 per share
Benchmark Metals (TSXV:BNCH) has resumed work on its 100,000 metre drilling program at Lawyers gold-silver project in British Columbia.
Assays from the three-year program include 1.26 grams per tonne gold and 37.82 grams per tonne silver over 70 metres.
The junior miner based in Alberta is working towards building the project into a property with a multi-million ounce gold and silver mineral resource estimate.
The company has pointed to substantial data collected across the two years since the company purchased the property in 2018, 2019 and 2020 exploration programs.
There has been an approximate 10 kilometres of drilling on the site across those 3 exploration seasons, with the company hoping to release its updates resource estimate at the end of this year. This is to be followed by the release of a preliminary economic assessment in 2021.
The company is planning to use five drill rigs this year to drill the final 50,000 metres of exploratory drilling on the project.
CEO of Benchmark Metals, John Williamson said the project had begun life in mid 80’s as a small, high grade gold and silver facility during depressed mining prices.
“Our success 30 years later with recognising the potential of multiple anomalous high-grade gold and silver results consolidated into a large land package. We identified the potential to expand existing zones and explore the potential for a large land package.
“This season’s data will be invaluable for us to demonstrate the economics of a new open-pit mining scenario during a period of escalating gold and silver prices,” he said.
Benchmark Metals (BNCH) is up 4.1 per cent and is trading at C$0.38 per share at 2:21pm EDT.
