Benchmark Metals Inc. (CVE:BNCH) (OTCQX:BNCHF) said the Government of British Columbia has granted a new five-year work permit for exploration and drilling to advance the Lawyers Gold-Silver project.
The new work permit encompasses an expanded scope and scale to explore existing and new targets across the project area. It comes as the Canadian-based gold and silver company commences its property-wide exploration program for 2021.
READ: Benchmark Metals commences its property-wide exploration program for 2021
Benchmark's flagship Lawyers Gold-Silver Project is road accessible and located within the Golden Horseshoe area of north-central British Columbia. Key components for the permit include 620 drill-site locations and initial approval to reactivate the former mine road to provide improved access and efficiencies across the 145 square kilometre land package.
The permit is granted to June 15, 2026, for exploration activities covering all key target areas on the property.
"The permit allows the project to expand the deposit areas, drill new high-priority targets and advance engineering towards a feasibility study,” Benchmark CEO John Williamson said in a statement.
“The new work permit involved consultation with all stakeholders including First Nations and submission of detailed exploration plans with environmental and mitigation measures through a Wildlife Mitigation and Monitoring Plan," he aded.
The scope and scale of the 5-year permit provides for the following activities:
- 620 drill sites for drilling at key areas including Cliff Creek, Dukes Ridge, AGB and new regional targets
- Additional ground geophysical surveys across target areas
- Former mining road reactivation (pending additional approvals)
- Expanded camp and related facilities
- Expanded fuel storage
Benchmark also announced that it has granted 4.63 million stock options at an exercise price of $1.15 to employees and consultants under its stock option plan. The options, of which 2.5 million are for directors and officers of the company, expire and terminate on June 21, 2026.
Contact the author at stephen.gunnion@proactiveinvestors.com