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Benchmark Metals unveils multi-million-ounce initial resource for flagship Lawyers project

Benchmark Metals Inc (CVE:BNCH) (OTCQB:CYRTF) (FRA:87CA) has delivered an initial resource for its flagship Lawyers project, which has ‘exceeded’ expectations and set the project up to be a potential world-class gold silver mine. The report was completed by P&E Mining Consultants Inc and used 696 drill holes for over 123,000 metres (m) collectively from the Cliff Creek, AGB, Dukes Ridge and Phoenix Zones at the asset in British Columbia. READ: Benchmark Metals further advances flagship British Columbia project after trilateral agreement with First Nations The resource is amenable to both open pit and underground mining and hosts 2.1 million ounces at 1.62 grams per tonne (g/t) gold equivalent in the higher confidence indicated category. In the inferred, it holds 821,000 ounces grading 1.58 g/t gold-equivalent. The indicated pit constrained resource is 2.05 million ounces (M oz) gold-equivalent, while inferred is 595,000 ounces of gold-equivalent. The new resource will form the basis of a preliminary economic assessment (PEA) expected to be completed in late 2Q 2021, noted Benchmark. “The project is demonstrating potential for economic mining methods with high-grade mineralization extending from surface to depth,” said Ian Harris, vice president of engineering. “The resilience of the mineral resource at a wide range of cut-off grades in all pits bodes well for the upcoming preliminary economic assessment and is expected to provide multiple routes to successful project design. Benchmark’s drill-to-build philosophy is delivering the results to develop the Lawyers project into a world-class gold silver mine,” he added. CEO John Williamson told investors that this “multi-million-ounce” mineral resource had “exceeded all expectations and has significant expansion potential with the planned 2021 drill program”. For this 100,000m program, the firm is fully funded. It said 50,000m of this will be to both expand current resources and to upgrade the current inferred resource to measured and indicated, to be included in an anticipated feasibility study in 2022. In addition to expanding the resource zones at depth and along strike, a regional exploration program will consist of around 50,000m to drill test and expand existing and new discovery targets, which has the potential to add more gold-silver ounces to a resource update for 2021. Benchmark is focused on developing the substantial resource potential of its large Lawyers asset, which sits in the prolific Golden Horseshoe of northern British Columbia. Contact the author at giles@proactiveinvestors.com

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