Benz Mining Corp. press release
Benz Mining: Highest Grade Gold to Date Confirms Eastmain's Potential to Host a Standalone Gold Project
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HIGHLIGHTS
Results for remaining diamond holes from 2021 exploration campaign received Assays return high-grade gold from all zones of the Eastmain system identified to date Best intercepts include: 1.0m at 365.5g/t gold from 81.0m (EM21-229, E Zone, highest grade to date for Benz) 6.6m at 9.8g/t gold from 643.9m including 1.1m at 36.7g/t gold (EM21-230, D Zone) 6.2m at 9.7g/t gold from 674.3m including 1.0m at 23.4g/t gold (EM21-182, D Zone) 8.4m at 4.6g/t gold from 578.0m including 1.0m at 26.0g/t gold (EM21-203, C zone) 6.8m at 4.5g/t gold from 458.5m including 1.3m at 8.7g/t gold (EM21-232, D Zone) 3.0m at 9.8g/t gold from 345.0m including 0.8m at 35.8g/t gold (EM21-207, E zone)
Confirmed discovery of Upper Horizon, a new high-grade zone between Kotak and the Mine Trend, adding one more discovery to Benz's track record Consulting geologist Marcus Harden (ex-Bellevue Gold) to lead structural interpretation targeting structurally controlled high-grade shoots in the next round of drilling
Toronto, Ontario--(Newsfile Corp. - June 7, 2022) - Benz Mining Corp. (TSXV: BZ) (ASX: BNZ)(the Companyor Benz) is pleased to provide gold assay results from its 2021 drilling campaign. All fire and metallic screen fire assays have been received and confirm D and E Zones as high-grade gold discoveries whilst expanding mineralisation at A, B and C Zones.
These results enable Benz to be a position to release an Exploration Target* based solely on the areas targeted as part of the 2021 drill programand its understanding of Eastmain's geology with the potential to add to Benz's existing 376,000oz resource.
Table 1: Exploration Target Eastmain Gold Project June 2022
| Target1 | | Tonnes Range (Mt) | Grade (g/t) | Gold target (Moz) | | Mine Horizon, A, B, C depth extensions, NW and D Zones | lower | 1.8 | 5.90 | 0.34 | | higher | 2.9 | 7.20 | 0.67 | | | E Zone | lower | 0.7 | 5.3 | 0.12 | | higher | 1 | 6.6 | 0.21 | | | Total | Lower | 2.5 | 5.7 | 0.46 | | higher | 3.9 | 7.0 | 0.88 | |
*The potential quantity and grade of the Exploration Target is conceptual in nature and is therefore an approximation. There has been insufficient exploration drilling results to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target is in addition to the existing mineral resource estimate.
Existing resource reported under JORC (2012) and NI43-101 in Benz prospectus dated 21/12/2020 Details of the existing resource on the following page.
Table 2: Eastmain Project existing Resource Estimate
| Existing Resource | Cut-off grade (g/t) | Tonnes (Mt) | Grade (g/t) | Total gold ounces (Moz) | | A, B, C Zones indicated | 2.5 | 0.9 | 8.19 | 0.24 | | A, B, C Zones inferred | 0.6 | 7.48 | 0.14 | | | Total | 2.5 | 1.5 | 7.91 | 0.38 |
Existing resource reported under JORC (2012) and NI43-101 in Benz prospectus dated 21/12/2020
CEO, Xavier Braud, commented:
"We are excited by these results which show that we keep getting systematic high-grade intercepts on wide 100m x 100m spacing and have delivered our highest assay to date with 1.0m at 365.5g/t gold. Nearly all holes returned mineralisation which demonstrates the size extent of the mineralised system.
"The small 10 hole drill program in 2020 saw us prove the concept of using electromagnetics to find gold mineralisation at the Eastmain Project.
"In 2021, we were able to leverage off this exploration technique to, notwithstanding the pressures brought about by Covid and 6 months assay turnaround times, deliver an Exploration Target of this size from only 12 months of drilling.
"I am very proud of the Benz team who has managed to drill multiple high-grade greenfield discoveries into the Project.
"We would never have been able to reach the Exploration Target we have today in such a short period of time if it wasn't for direct targeting the 400+ EM conductors identified to date at Eastmain and enough visible gold in core to keep us drilling.
"We are now integrating all of the geological information at hand, combined with all the assays to date, in a broader study to hone into the highest grade parts of the system.
"We are thrilled to have secured the expertise of Marcus Harden. Marcus has a lot of experience in similar high grade gold systems, including the Bellevue Gold project in Western Australia, which Benz has used as an analogue for its exploration methodology.
"We found new mineralised zones targeting electromagnetics and it is now time to capitalise on those discoveries by understanding the structural controls on the high-grade shoots in the system.
"The Exploration Target we are releasing today is based only on our knowledge of the Mine Horizon. All of Benz's new discoveries, Nisto Trend, Kotak Trend, Upper Horizon, and the gold hosted by the tonalite in E Zone are not part of the target and form part of the upside still to be realised at the Project.
"The upper Eastmain Greenstone Belt is an amazing place to explore; the discovery potential is enormous. 2022 has also delivered us some great surprises. The Ruby Hill West lithium pegmatite discovery and the southern anomalies are showing us great potential for the belt. We look forward to the results from our 2022 drill program that has targeted further extensions along this exciting greenstone belt."
Newly joined consultant, Marcus Harden, commented:
"I am very pleased to come onboard and spend some of my time consulting to Benz on the Eastmain Project. Eastmain shares a lot of similarities with previous deposits I have worked on. I am looking forward to helping with targeting the next series of discoveries at Eastmain. I share Benz's management view that the Project has a lot more to offer and I am glad to be part of this exciting new phase in the Project's history."
Resource estimation specialist, Dr Marat Abzalov, commented:
"The level of geological knowledge we have reached at Eastmain, combined with all of Benz's successful drilling and the latest 2021 assays results, has allowed us to produce an Exploration Target for Eastmain. We are now able to see the upside in depth extensions and new discoveries around the existing Eastmain Resource. We are also confident that, with more drilling, all of Benz's new discoveries (Nisto & Kotak Trends, Upper Horizon) will contribute to the groth of the Project's endowment. We will now work on the drilling requirements to place Benz in a position to produce a maiden resource estimate and fully realise the potential of the area."
[](https://orders.newsfilecorp.com/files/1818/126775_cd022cb264945aa8_001full.jpg)
Figure 1: All BNZ drill collars to date coloured by maximum gold abundance in g/t x m, Eastmain Project with selected high-grade results from newly released 2021 assays.
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Introduction
Benz drilled 92 holes for c.51,500m of core in 2021 targeting fixed loop and down hole electromagnetic conductors in the mine area focussing on the new discoveries at D and E Zones and proving up extensions to the original A, B and C Zones at depth.
Assays for 32 drillholes were announced in December 2021 before Benz started experiencing considerable delays in metallic screen fire assays turnaround. The high-grade nature of the deposit called for systematic metallic screen fire assays of mineralised zones with limited other alternatives available at the time.
Benz has now received complete assay results from the 60 remaining holes from the 2021 drill campaign.
Following its success in 2020, Benz pursued a strategy of drilling TDEM and BHEM anomalies in order to follow the best geophysical response caused by the presence of conductive sulphides (pyrrhotite) associated with the gold mineralisation. The electromagnetics strategy led Benz to the discovery of two new mineralised zones, D and E, and the extensions to the north of known zones A, B and C that will increase the size of these historical zone to the northeast.
It is noteworthy that whilst the gold mineralisation at Eastmain is closely associated with pyrrhotite and chalcopyrite, EM is a method of choice for exploration targeting as the gold occurs as coarse free gold. Historical mill recollection from MSV resources reports in the 1990's show +95% recoveries from Eastmain Ore via conventional grind, floatation and CIL extraction.
D Zone
D Zone is located 2km to the southeast of the Mine portal along strike from A, B and C Zones. This area had been sparsely drilled previously in the 1980's to try to follow the Mine Trend to the southeast with little success.
Benz drilled 29 holes into D Zone in 2020 and 2021 totalling 22,256m, intercepting the Mine Horizon between near surface and 850m vertical depth at the deepest.
Electromagnetic conductors, both from surface FLEM surveys and from DHEM surveys, identified three mineralised sulphide bearing horizons, the Mine Horizon, the Upper Horizon, and the Kotak Horizon. Both Upper and Kotak are located in the hanging wall of the Mine Horizon and represent strong targets for expansion of the mineralised system and increase of the ounces endowment.
1- The Mine Horizon: This is represented by a highly deformed, altered banded rock (silicified and biotite) with quartz veins locally containing up to 20% sulfides mostly pyrrhotite, pyrite and chalcopyrite with traces of sphalerite. This silicified horizon is in contact with a sheared and altered ultramafic intrusion. Gold is found as free grains mostly located in the deformed ultramafic and quartz veins within the silicified zone. Garnets are locally present.
2- The Upper Horizon: This is represented by a shear zone with locally up to 20% sulphides and is affected by silica and biotite alteration. Garnet porphyroblasts are present as well as magnetite.
3- The Kotak Horizon is similar to the Upper Horizon with an apparent increase in quartz veins density.
[](https://orders.newsfilecorp.com/files/1818/126775_cd022cb264945aa8_002full.jpg)
Figure 2: D Zone map with BNZ collars coloured by maximum gold abundance in g x m, electromagnetic conductors, current Eastmain resource outlined over schematic geology.
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Several holes returned multiple mineralised horizons with grade. Best intersections from D Zone from the May-Dec 2021 drilling include:
EM21-182: Kotak Horizon: 0.8m at 1.03 g/t gold from 327.7m
Upper Horizon: 1.0m at 1.52g/t gold from 518m
Mine Horizon: 6.2m at 9.7 g/t gold from 674.3m including 1.0m at 23.6 g/t gold and 0.47% copper
EM21-230: Kotak Horizon: 1.9m at 11.7 g/t gold 324.1m
Upper Horizon: 1.2m at 2.2 g/t gold from 510.3m
Mine Horizon: 6.7m at 9.8 g/t gold from 643.9m including 1.1m at 36.7g/t gold
EM21-232: Upper Horizon: 6.8m at 4.5 g/t gold from 458.5m
Mine Horizon: 4.1m at 1.5 g/t gold from 601.1m
[](https://orders.newsfilecorp.com/files/1818/126775_cd022cb264945aa8_003full.jpg)
Figure 3: D Zone cross section (50m wide) showing the three parallel mineralised horizons (Mine, Upper and Kotak)
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Hole EM21-228 intersected the Mine Horizon between 936.0m and 970.5m, the deepest intersection to date at the Project. The interval showing visible gold and samples were submitted for metallic screen fire assays. Results included 0.7m at 1.0g/t gold from 965.6m and 1.4m at 1.7g/t gold from 969.1m. The results illustrate the heterogeneity of the material. Laboratory rejects from this interval have been submitted for analysis by PhotonAssay and results are pending.
A complete set of results is available in Appendix 1 with reports of composite significant intervals.
Zone A, B and C extensions:
Benz's strategy was to test TDEM and BHEM conductors located in the extensions of the historical modelled resource of the A, B and C Zones.
A total of 15,397m was drilled since 2020 with 14,173m drilled in 2021.
Using electromagnetics, Benz was able to directly target extensions to known mineralisation, down plunge and along strike, saving a considerable amount of time and drilling to discover more high-grade mineralisation and show that A, B and C Zones extend at depth well past the boundaries of the current resource model.
[](https://orders.newsfilecorp.com/files/1818/126775_cd022cb264945aa8_004full.jpg)
Figure 4: Cross section through C Zone (historical wireframe off-section to the NW - into the page - section is 50m wide) showing extensions at depth.
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The Mine Horizon was identified in all holes drilled with best intersections showing:
In C Zone extension (Mine Horizon):
EM21-199: 3.3m at 5.3g/t gold from 372.6m with 1.0m at 15.85 g/t gold in sheared ultramafic.
EM21-203: 8.4m at 4.6g/t gold from 578.0m in silicified mylonite including 1.8m at 26.0 g/t gold.
EM21-212: 3.2m at 2.8g/t gold from 581.4m and proving continuity of thickness and mineralisation in the Mine Horizon.
EM21-221: 5.4m at 3.7 g/t gold from 605.1m.
In A Zone extension (Mine Horizon)
EM21-222: 3.1m at 3.6 g/t gold from 409.9m.
EM21-214: 2.2m at 5.5g/t gold from 452.5m.
EM21-216: 1.5m at 2.8g/t gold from 387.4m.
A complete set of results is available in Appendix 1 with reports of composite significant intervals.).
E Zone:
E Zone is located 3km to the SE of the Mine portal and 1km to the southeast of D Zone. E Zone is a virgin discovery made by Benz under glacial cover following electromagnetics targeting in 2020.
To date, Benz has drilled 33 holes into E Zone with 11 of those holes returning assays of over 8.0g/t gold. Gold has been intersected in wide spaced drilling in an area that measures 700m by 600m from surface down to 350m vertical depth and is still open at all sides. Benz has followed mineralisation all the way to subsurface with the shallowest mineralised horizon intercepted in drillhole EM21-234 with 1.6m at 2.9g/t gold from 4.4m.
At E Zone, mineralisation occurs in several settings.
A strongly deformed and altered horizon mostly located at the contact of the volcanosedimentary sequence and a deformed altered tonalite intrusion structurally interpreted as sitting in the hanging wall of the Mine Horizon. This horizon is strongly altered in biotite, sericite and carbonate and is cut by sulphide and quartz veins. Garnet porphyroblast are observed as well, sulphides are mostly pyrrhotite, pyrite, chalcopyrite, sphalerite with rare molybdenite. Visible gold has been observed in this setting in several holes associated with quartz veins.
Strongly sericite, albite and carbonate altered and locally deformed tonalite with quartz, carbonate and tourmaline veins and veinlets. Pyrite, sphalerite and locally arsenopyrite (with pyrrhotite and chalcopyrite) are observed in association with quartz veins. Visible gold has been observed in several holes in this setting.
This tonalite intrusion has a variable thickness over the area, dips parallel to foliation (45 degrees to the northeast) and seems to pinch out to the west. We have identified it over an area of 700m by 500m. Monzonite and quartz diorite were observed in the margins of this intrusion.
The tonalite has only been observed in E Zone and is interpreted as syntectonic.
Gold mineralisation can be found associated with shears and quartz - albite veins throughout the intrusion but more abundantly in the upper half and closer to the sheared contact with the volcanic sequence.
Best intersections are:
EM21-229: 1.0m at 365.5g/t gold (11.7oz/t)starting at a shallow 81.0m in a sulphide bearing quartz vein with visible gold.
EM21-200: 4.3m at 4.9g/t gold from 230.74m including 1.3m at 8.7g/t gold in a shear at the contact been volcanics and a gabbro and 4.8m at 0.5g/t gold from 417.5m within altered tonalite.
EM21-207: 3.0m at 9.8 g/t gold from 345.0m including 0.8m at 35.8g/t gold in altered tonalite.
EM21-213: 1.8m at 3.9g/t gold from 97.2m in altered tonalite and 2.7m at 1.7g/t gold from 173.2m in quartz veins with sulphides within the tonalite showing high-grade bearing structures within the intrusion.
EM21-218: 4.8m at 4.7g/t gold from 130.9m including 1.0m at 10.4 g/t gold in sheared volcanics above the tonalite contact and within 100m from surface showing shallow high-grade material at E Zone.
EM21-220: 1.1m at 9.5g/t gold from 24.4m in a sheared ultramafic with quartz and tourmaline veins and 2.0m at 6.7 g/t gold in sheared volcanics at 91.0m highlighting multiple stacked high-grade structures just below shallow (<20.0m) overburden at E Zone.
EM21-227: 3.8m at 5.4g/t gold from 222.8m in a shear zone including 1.3m at 18.3g/t gold
EM21-233: 4.6m at 2.5g/t gold starting at 397.68m in a shear zone including 0.9m at 8.1g/t gold.
EM21-234: 1.6m at 2.9g/t gold starting at a very shallow 4.4m and 0.88 g/t gold over 7m from 70.7m highlighting potential for bulk low-grade material within the body of the tonalite, a common setting in Archean greenstone belts where later felsic intrusions can be host to disseminated low grade gold over the whole body of the intrusion.
[](https://orders.newsfilecorp.com/files/1818/126775_cd022cb264945aa8_005full.jpg)
Figure 5: E Zone drilling coloured by maximum gold abundance over simplified geology and electromagnetics modelled plates projected to surface.
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[](https://orders.newsfilecorp.com/files/1818/126775_cd022cb264945aa8_006full.jpg)
Figure 6: EM21-229 - 81.3m visible gold. Best assay (by PhotonAssay) returned 1.0m at 365.5g/t gold.
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[](https://orders.newsfilecorp.com/files/1818/126775_cd022cb264945aa8_007full.jpg)
Figure 7: E Zone cross section with geology, DHEM conductors and highlight intervals.
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NW Zone:
The NW Zone is located about 600m to the NW of the A Zone mineralised lens and camp infrastructure and can be accessed by a trail in summer. The mineralised horizon is associated with a strongly biotite, sericite, silica and carbonate altered mylonite located within deformed and altered ultramafic rocks. Sulphide content varies from 1-2% to up to 20% in sulphide veins, with xenoliths of enclosing rocks, often associated with quartz veins. There are also stringers and patches of sulphides. Garnet porphyroblasts are also observed in association with the more biotite altered rocks.
Main sulphides are pyrrhotite, chalcopyrite, pyrite and sphalerite. Visible gold was observed in several holes at NW Zone. Benz's discovered Nisto Trend at the NW Zone and A Zone is found between 100m and 200m deeper than the Mine Horizon. Mineralisation is hosted at the contact between strongly deformed and altered sediments (wackes and conglomerate) and ultramafics with stringers and patches of pyrrhotite and chalcopyrite. Garnet porphyroblasts are locally observed in association with the more biotite rich rocks.
Geological continuity and exploration target
1-From D Zone to NW Zone including A, B and C Zone extensions
The Mine Horizon displays very good geological continuity over the 2.7 km between NW Zone and D Zone.
Whilst the geology is continuous, structural features such as faulting and folding control the gold abundance within the horizon.
This geological continuity and the beginning of an understanding of structural controls is the base for Benz's capacity to establish an exploration target, in line with all drilling results to date.
Note: The current exploration target is solely based on the understanding of the Mine Horizon's geology. Upper and Kotak Horizons have only recently been discovered by Benz and the drill density to date does not allow yet to draw an accurate interpretation of continuity.