The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Multi-million-oz gold-silver resource will support PEA in Q3 North of 60 Mining News - June 14, 2022
New resource for Lawyers gold-silver project in Northern BC includes results from 200,000 meters of drilling completed in 1,097 holes at the Cliff Creek, AGB, and Dukes Ridge deposits.
Click on photo for larger version of Lawyers resource map.
Benchmark Metals Inc. June 13 announced that its Lawyers gold-silver project in Northern British Columbia now hosts 2.74 million ounces of gold and 52.9 million oz of silver in the measured and indicated resource category.
The updated resource for Lawyers includes the results from 200,000 meters of drilling completed in 1,097 holes at the Cliff Creek, AGB and Dukes Ridge deposits.
"The expanded Mineral Resource Estimate is demonstrating the world-class potential of Benchmark's multi-million-ounce gold-silver deposits," said Benchmark Metals CEO John Williamson. "The company has provided one of the highest-grade, open pitable mining projects in North America."
According to the new calculation, the three deposits at Lawyers host 67.38 million metric tons of measured and indicated resources averaging 1.26 grams per metric ton (2.74 million oz) gold and 24.39 g/t (52.9 million oz) silver; plus 4.87 million metric tons of inferred resource averaging 2.39 g/t (378,000 oz) gold and 39.41 g/t (6.2 million oz) silver.
Having 90% of the resources in the higher confidence measured and indicated category demonstrates the effectiveness of the 2021 and winter 2022 drill program in de-risking the project as the company advances the gold-silver project toward a preliminary economic assessment and feasibility level studies.
"Benchmark's drill-to-build philosophy is delivering the results to develop the project into a world-class gold-silver mine located in one of the best mining jurisdictions in the world," said Benchmark Metals Vice President of Engineering Ian Harris.
This includes higher-grade, near-surface mineralization at the AGB and Cliff Creek deposits that could serve as starter pits for such a future mine.
The potential starter pit at AGB contains 7.5 million metric tons averaging 1.74 g/t (418,000 oz) gold-equivalent, which accounts for the value of both the gold and silver. The likely Cliff Creek starter pit hosts an additional 5.2 million metric tons averaging 1.74 g/t (292,000 oz) gold-equivalent.
Benchmark says these starter pits provide high-quality, near-surface mineralization that has generated clean sulfide with 93% gold recovery.
The higher-grade core zones at surface will have a positive impact on economics in the forthcoming Preliminary Economic Assessment (PEA)," said Harris.
Benchmark says the existing footprint from four years of mining at Lawyers that began in 1989 offers logistical and structural advantages within a Northern BC mining district featuring highway access and abundant hydroelectricity.
With significant progress already made on the PEA, Benchmark anticipates completion of the assessment during the third quarter.
As the company advances the economic assessment, ongoing drilling is focused on open extensions of near-surface, high-grade mineralization.
Results from recent drilling not included in the new resource estimate show the potential for expansion at Dukes Ridge and Cliff Creek. Highlights from this drilling include:
• 40.16 meters averaging 2.01 g/t gold and 38.9 g/t silver in hole 21DRDD012 (Dukes Ridge).
• 21 meters averaging 1.98 g/t gold and 48.8 g/t silver in hole 21DRDD014 (Cliff Creek).
• 54.6 meters averaging 2.51 g/t gold and 97.1 g/t silver in hole 21DRDD016 (Dukes Ridge).
In addition, a 20-kilometer- (12.5 miles) long mineralized trend running across the Lawyer property has provided clusters for multiple satellite deposits that require drill testing for additional new discoveries and mineral resource growth.
"With the deposits open, further resource growth is possible and the project has numerous targets that may develop into near mine satellite deposits," said Williamson.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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