Benchmark Metals Inc (CVE:BNCH) (OTCQB:CYRTF) (FRA:87CA) reported more positive drill assays from the AGB zone at its Lawyers project, which highlight its potential to be mined as a high-grade starter pit.
The latest highlight drill assays from British Columbia include an intercept of 52.91 metres (m) starting at a depth of 28.09m at a grade of 5.95 grams per tonne (g/t) gold and 130.93 g/t silver.
The AGB zone is now showing it could be an open-pitable resource measuring over 650m long with a depth of over 270m.
READ: Benchmark Metals releases more encouraging drill results from AGB zone at Lawyers
"Results at the core of the AGB system are really robust, showing a high-grade starter pit area, near surface, at the center of the +650m long zone," CEO John Williamson told investors on Wednesday.
"Additionally, the more we continue to drill at the south end of the pit shell model, it continues to deliver very strong results with expansion opportunities along strike and at depth.
"Further drilling in 2021 will likely expand the maiden resource at AGB, which is expected in the coming weeks, forming part of a global resource for the project, including Cliffs Creek and Dukes Ridge."
Other drill highlights from the zone were 4.47m at 58.72 g/t gold and 958.39 g/t silver from a depth of 39.7m.
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.
In January this year, the company said it aimed to issue a new mineral resource estimate for the project in the first quarter this year and a preliminary economic assessment (PEA) in the second quarter. It also anticipates a fully funded C$25-30 million exploration and drilling program to be carried out this year.
Shares in Toronto advanced over 6.6% to C$1.44 each.
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Contact the author at giles@proactiveinvestors.com