Benchmark Metals Inc. (TSX-V:BNCH, OTCQX:BNCHF) told investors it has completed over 6,000 metres of drilling at the Dukes Ridge and Cliff Creek deposits since it started drilling on July 1, 2023.
In a statement, the company said the drilling, part of a larger 20,000-metre drilling program planned for this year, is focused on expanding resources beneath the deposits at its flagship Lawyers gold-silver project in the prolific Golden Horseshoe region of British Columbia.
"Our drilling to date continues to encounter significant mineralization beneath the Dukes Ridge Open Pit Deposit,” Benchmark chairman and CEO John Williamson commented.
“While our previous PEA (preliminary economic assessment) was based solely on open-pit mining, we see a significant opportunity to introduce underground mining methods. This could potentially increase the mineable resource and introduce higher-grade material earlier in the mine life.”
Williamson said Dukes Ridge offers a significant topographical advantage for accessing deeper material via a short-distance adit and the continued mineralization at depth underscores this significant potential. “These developments align with our strategy of making significant improvements on the already robust PEA as the project progresses,” he added.
Ongoing work
The company said concurrent work on the project includes infrastructure and engineering studies. Work has resumed to recondition the Ring Road which will provide low-altitude access to both the Lawyers and Ranch projects once complete in August. It explained that the road was built to support the historical Cheni Mine in the 1980s and circumnavigates the Lawyers Property with spur access across the Toodoggone River to the Ranch Property.
During the first week of July, the company said several additional holes were completed at Lawyers to further support ongoing baseline studies.
Meanwhile, it said exploration crews have continued rock sampling and ground geophysical surveys advancing some early-stage targets to drill-ready.
A total of 125.5 kilometers of ground magnetics have been completed to date along with 200 rock samples confirming mineralization and alterations in areas with historical rock sampling across the property.
Benchmark and Thesis Gold merger
The company also updated investors on the merger with Thesis Gold, saying that it has filed and mailed materials to Thesis security holders of Thesis, including the management information circular dated July 6, 2023, and related documents for the special meeting of security holders to be held on August 9, 2023.
Contact the author at stephen.gunnion@proactiveinvestors.com