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Benchmark's $35 Million Cash Enables Drilling of New Discovery Targets from Widespread Gold and Silver Soil Anomalies and a 2021 Resource Expansion Program
Edmonton, Alberta--(Newsfile Corp. - March 1, 2021) - Benchmark Metals Inc. (TSXV: BNCH) (...
About this update from Thesis Gold & Silver Inc.
[{"type":"text","content":"Benchmark's $35 Million Cash Enables Drilling of New Discovery Targets from Widespread Gold and Silver Soil Anomalies and a 2021 Resource Expansion ProgramEdmonton, Alberta--(Newsfile Corp. - March 1, 2021) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the \"Company\" or \"Benchmark\") is pleased to announce the compilation of new and historical gold and silver soil geochemical results that cover an approximate 54 km2 of the 140 km2 land package. A number of widespread gold and silver soil anomalies have delineated new regional exploration targets, and advanced known discovery and resource zones across a strike length of 16 kilometres (km). Benchmark has defined 20+ new areas for follow-up exploration including drill testing beyond the heart of the property that hosts the three main mineralized zones (Cliff Creek, AGB and Dukes Ridge zones) that will provide an updated resource estimate during Q1, 2021. Soil sampling was conducted as a follow-up exploration method to expand on areas of high-grade rock sampling and areas of prospective structures in order to identify new mineralized zones. Benchmark has potential for a near-term cash position at ~$45 million with approximately $35 million in cash, in addition to warrants and options totaling near $9 million (in the money). The Lawyers gold-silver project is located in a road accessible region of the Golden Horseshoe of north-central British Columbia, Canada. The location of previously known regional target zones in relation to anomalous gold and silver soil contours is detailed in Figures 1 and 2. Identification of eleven new prospective target zones with anomalous gold and silver in soil anomalies provides the potential for significant expansion of mineralization beyond known target areas. New targets across the 20 km Lawyers Trend have potential to deliver additional gold-silver resource areas that is defined by the same geology and coincident anomalous features exhibited by the Cliff Creek zone that measures over 1.2 km on strike and extends to over 550 metres vertical depth. Soil geochemistry is a proven vector to mineralization within the project area. Recently drilled target areas delineated by systematic soil and rock grab sampling include the highly prospective 2 by 3 kilometre region that defines the Marmot zone (see release dated January 13th, 2021)...