Business
Benz Mining Corp. Acquires Ruby Hill West and East Projects Consolidates Land Position near Eastmain Gold Project
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2020) - (TSXV: BZ) Benz Mining ...
About this update from Benz Mining Corp.
[{"type":"text","content":"Benz Mining Corp. Acquires Ruby Hill West and East Projects Consolidates Land Position near Eastmain Gold ProjectVancouver, British Columbia--(Newsfile Corp. - April 30, 2020) - (TSXV: BZ) Benz Mining Corp. (the \"Company\" or \"Benz\"), is pleased to announce that it has entered into an amending agreement (the \"Amending Agreement\") in connection with the Eastmain Mine project pursuant to which it has acquired an option to earn a 100% interest in the Ruby Hill West and Ruby Hill East properties, located west of its high grade Eastmain gold mine project in James Bay District, Quebec.Ruby Hill West includes one block of 180 contiguous mining claims totaling 9,485 hectares which includes more than 30 km of strike along a favourable volcano-sedimentary greenstone sequence within Upper Eastmain River greenstone belt. The concessions are approximately 25 km west of the main Eastmain gold mine project.Ruby Hill East includes one block of 88 contiguous mining claims totaling 4,640 hectares and which are immediately west and contiguous to the flagship Eastmain gold mine project concessions.The principal exploration targets on the Ruby Hill West and East properties correspond to volcanic-hosted lode gold deposits characterized by stratabound, disseminated and massive chalcopyrite-pyrrhotite-pyrite veinlets associated with fine grained chert units.Including the Eastmain Mine Project, Benz now controls more than 22,100 hectares of ground in the highly prospective Upper Eastmain River greenstone belt.Miloje Vicentijevic, President and CEO, commented, \"We are extremely excited about the addition of the large Ruby Hill West and East concessions to our flagship Eastmain gold mine project as it adds a considerable exploration component in a highly prospective area to our company\".Mr. Vicentijevic, continued, \"With our recently closed financing, we intend to aggressively advance the Eastmain gold mine project while also developing an exploration program to include our new Ruby Hill targets.\"Figure 1To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/1818/55235_9a59e0836467e998_001full.jpgTransaction TermsPursuant to the Amending Agreement entered into with Eastmain Resources Inc. (\"Eastmain\"), the terms of the original option to acquire up to a 100% interest in the Eastmain gold mine project were am...