Business
Benz Mining Corp. Announces Property Payment
Vancouver, British Columbia--(Newsfile Corp. - October 22, 2021) - Benz Mining Corp. (TSXV: BZ...
About this update from Benz Mining Corp.
[{"type":"text","content":"Benz Mining Corp. Announces Property PaymentVancouver, British Columbia--(Newsfile Corp. - October 22, 2021) - Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) (the \"Company\" or \"Benz\"), is pleased to announce that it has made a $260,000 payment, of which $150,000 was paid in cash and the balance by the issuance of 174,658 shares, to Fury Gold Mines Limited. This payment is in accordance with the terms of the Option Agreement dated August 7, 2019, as amended on April 30, 2020 (the \"Agreement\"), between Benz and Eastmain Resources Inc. The shares will be subject to a four month hold period as well as restricted from converting to CDIs for a period of 12 months, and acceptance of the TSXV.Under the Agreement, Benz has an option to acquire 100% interest in the Eastmain Gold project as well as the Ruby Hill West and Ruby Hill East properties located in the James Bay District, Quebec. For additional information on the Agreement and the Eastmain Project, please see Benz's news releases dated August 9, 2019 and April 30, 2020.About Benz Mining Corp.Benz Mining Corp. brings together an experienced team of geoscientists and finance professionals with a focused strategy to acquire and develop mineral projects with an emphasis on safe, low risk jurisdictions favourable to mining development. Benz is earning a 100% interest in the former producing high grade Eastmain gold mine, Ruby Hill West and Ruby Hill East projects in Quebec.The Eastmain Gold Project is situated within the Upper Eastmain Greenstone Belt in Quebec, Canada and currently hosts a NI 43-101 and JORC (2012) compliant resource of 376,000oz at 7.9gpt gold. The existing gold mineralization is associated with 15-20% semi-massive to massive pyrrhotite, pyrite and chalcopyrite making it amenable to detection by electromagnetics. Several gold mineralization occurrences have been identified by previous explorers over a 10km long zone along strike from the Eastmain Mine with very limited testing outside the existing resource area. Figure 1: Benz tenure over Upper Eastmain Greenstone Belt simplified geology.To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/1818/100634_7b810934640698fc_001full.jpgOn behalf of the Board of Directors of Benz Mining Corp.Xavier Braud, CEOFor more information please contact:Paul Fowler Head of Corporate Development (C...