Benchmark Metals Inc (CVE:BNCH) (OTCQX:BNCHF) (FRA:87CA) has announced it is mobilizing a crew for its Lawyers Gold-Silver Project in preparation for the 2021 work program.
In a statement, the company said it is preparing drilling, engineering, geotechnical, environmental baseline studies, regional new targets drilling, and definition drilling to advance its flagship project located within the Golden Horseshoe area of north-central British Columbia.
Benchmark said all 2021 work plans for the road-accessible project are fully funded with its roughly $32 million treasury.
READ: Benchmark Metals further advances flagship British Columbia project after trilateral agreement with First Nations
The company recently reported 2.1 million ounces of 1.62 grams per ton (g/t) gold-equivalent indicated and 821,000 ounces of 1.57 g/t gold-equivalent inferred for its initial mineral resource estimate (MRE).
All MRE zones at Cliff Creek, Dukes Ridge, and AGB remain open, the company said, and the 2021 drill program will consist of expansion and definition drilling to extend the deposits along-strike and at depth, while moving gold-silver ounces from inferred to indicated and measured categories.
Additionally, exploration drilling will also target new discoveries at Marmot, Marmot East, Lala, Gifford's Edge, M-Grid, and Silver Pond, located in close proximity to the MRE zones.
Benchmark said major milestones will be completed in 2021 and 2022 as it creates more value for shareholders along the mine permitting path to production:
- 2021 - 50,000 metres (m) of expansion and definition drilling over existing deposits;
- 2021 - 50,000m of regional new target and discovery drilling;
- 2021 August - Preliminary Economic Assessment (PEA);
- 2022 - Updated Bulk Tonnage MRE; and
- 2022 - Feasibility Study.
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