Benchmark Metals Inc has reported results from exploration drilling at the Marmot Zone within its flagship, 100% owned Lawyers Gold-Silver Project in British Columbia, including 1.11 grams per tonne (g/t) gold (Au) and 35.93 g/t silver (Ag) or 1.56 g/t gold equivalent (AuEq) over 77 metres (m).
The Edmonton-based precious metals explorer said the Marmot discoveries, which more than double the length of a previous drill, appear to have similar high grade mineralization to the company's multi-million-ounce gold-silver deposits located 3 kilometres to the northwest.
"The Marmot Zone results continue to demonstrate the new discovery potential that could add more gold and silver mineralization to its established multi-million ounce deposits,” Benchmark CEO John Williamson said in a statement.
READ: Benchmark Metals reports continued strong drill results from Dukes Ridge deposit at flagship Lawyers asset
Exploration work at Marmot includes 29 drill holes totaling approximately 8,700m to-date, together with extensive rock and soil sampling programs and multiple ground-based geophysical surveys, the miner said.
Two significant zones of broad bulk-tonnage and high-grade mineralization (were) intercepted at the Marmot Zone, similar in nature to the zones of mineralization encountered within the deposit areas at Cliff Creek and AGB, it added.
Drill hole 22MLDD002 intersected 47.0m of 1.03 g/t Au and 44.32 g/t Ag or 1.58 g/t AuEq, including 3.0m of 12.10 g/t Au and 430.08 g/t Ag or 17.48 g/t AuEq, providing an additional high-priority zone for follow-up around 300m northwest of 21MLDD004, the company noted.
"Benchmark will soon deliver a larger Mineral Resource Estimate (MRE) from near 100,000 metres of new drilling in 2021 and 2022,” Williamson said, adding that the new MRE is expected to de-risk the project with the majority of gold and silver ounces in the Measured + Indicated category.
Benchmark holds near 20 new discovery targets that contain geological similarities to the Marmot Zone and its existing gold-silver deposits, the majority of which are not drill tested.
The company said it intends to allocate significant drilling resources to target additional mineralization at the project as prospective geophysical signatures and previous drilling intercepts suggest the potential for additional near-surface mineralization over substantial strike-lengths in several discrete zones.
Future drilling will test for high vein density zones situated within the hanging walls of major identified faults as these features strongly correlate with gold-silver mineralization at Marmot and elsewhere within the Lawyers property, it added.
Benchmark is advancing its wholly-owned Lawyer's project, which sits in the prolific Golden Horseshoe of northern British Columbia, Canada. The project consists of three mineralized deposits that remain open for expansion, in addition to over 20 new target areas along a 20-kilometre trend.
Contact the author at jon.hopkins@proactiveinvestors.com