Benchmark Metals Inc's (CVE:BNCH) (OTCQB:CYRTF) Lawyers gold-silver project in British Columbia continues to deliver as the explorer told investors that a compilation of new and historic geochemical results have led to the identification of over 20 new regional targets at the property.
These results cover around a third of the 140 square kilometre (sq km) land package at Lawyers and the new areas lie beyond the heart of the asset that hosts the main mineralized zones at Cliff Creek, AGB and Dukes Ridge. An updated resource estimate for these three zones is earmarked to be released in the first quarter of this year.
READ: Benchmark Metals continues to see good drill results from AGB zone at Lawyers project
Up to six new gold and silver soil anomalies were identified to the north of the Cliff Creek, Dukes Ridge-Phoenix, and AGB resource zones, noted Benchmark.
These extend the mineralized trends to the northwest for over 2 kilometres (km) and remain open and, significantly, expand the anomalous gold and silver footprint at Lawyers to over 8km strike length and up to 7km in width.
"This suggests a large and robust mineralizing system with significant potential for additional peripheral mineralized prospects, providing more opportunities to discover and drill off shallow resources that could contribute to future resource development of the Lawyers gold-silver project," the company said in Monday's statement.
Last month, Benchmark hailed the discovery of a new significant precious metal system covering 2km by 3km called the Marmot zone.
Drilling here returned significant near-surface gold and silver mineralization in four of five holes, highlighted by 101.00 metres (m) at 0.82 grams per ton (g/t) gold-equivalent in one of them.
"The current dimensions of the Cliff Creek, Dukes Ridge, and AGB zones could collectively fit within the Marmot zone geochemical anomaly and with only five drill holes into this zone the subsurface mineralized footprint could be substantial," said the firm.
It added that these newly delineated gold and silver in soil anomalies throughout the project present "attractive targets for comparable discoveries in the future".
And Benchmark has the financial clout to explore new opportunities. It said it has the potential for a near-term cash position at around C$45 million with approximately C$35 million in cash, in addition to 'in the money' warrants and options totaling nearly C$9 million.
Benchmark is focused on developing the substantial resource potential of its huge Lawyers asset, which sits in the prolific Golden Horseshoe of northern British Columbia.
Shares in the company ticked up 2.86% to C$1.08 each.
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Contact the author at giles@proactiveinvestors.com