Benchmark Discovers New Zone at Cliff Creek and Drills 18.24 g/t AuEq over 3.23 Metres

Edmonton, Calgary--(Newsfile Corp. - January 8, 2020) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) (the "Company" or "Benchmark") - is pleased to report the discovery of a significant, new and broadly mineralized zone, located just 50 metres east of the known mineralization at Cliff Creek. Results from Benchmark's drill hole 19CCDD025 include high-grade and bulk-tonnage intercepts comprising 2.09 g/t gold and 87.83 g/t silver or 3.19 g/t AuEq across 36.30 metres core length, including 11.83 g/t gold and 513.21 g/t silver or 18.24 g/t AuEq across 3.23 metres core length.

John Williamson, CEO of Benchmark, commented, "The discovery of this broad, new zone of both high-grade and bulk-tonnage mineralization is highly encouraging as it could represent a parallel footwall structure to the main Cliff Creek zone, or the northern extension of the Dukes Ridge structure where it coalesces with Cliff Creek (Figure 1). Either scenario represents a major opportunity for Benchmark to pursue with further exploration in 2020. Benchmark's continued drilling success underscores the potential for further discovery and delineation of additional mineralized zones within the vast regions of alteration that exist across the 22,000 hectares of its relatively underexplored Lawyers Property".

Table #1 - Selected results from 19CCDD025

HoleFrom (m)To (m)Gold (g/t)Silver (g/t)AuEq (g/t)*Interval**
19CCDD02515.0039.000.8525.061.1724.00***
including28.0028.617.81256.0011.010.61

122.40158.702.0987.833.1936.30
including135.97149.004.92222.227.7013.03
including141.30147.238.79395.9013.745.93
including144.00147.2311.83513.2118.243.23

 *Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio.
**Intervals are core-length. True width is estimated between 80 to 90% of core length.
***Includes ~2.86m void and some intervals of poor recovery (underground workings).

Drill hole 19CCDD025 was designed to test shallow mineralization in the upper region of the Cliff Creek main zone (Figure 2). The main zone was intersected between 15 and 39 metres, including a 2.86m void related to underground workings. The zone included high-grade intervals within a broad zone of bulk-tonnage mineralization (Table 1) hosted in the hanging-wall of a steeply northwest dipping fault, typical of the Cliff Creek zone. The hole was continued based upon indications of mineralization and alteration in the footwall of the fault. This resulted in the discovery of a second, deeper easterly zone which yielded both high-grade and bulk-tonnage style mineralization starting at 122 metres depth (Table 1). This deeper zone is also associated with a major fault dipping steeply to the northwest, providing a parallel structural corridor for fluid flow and mineralization. The mineralization occurs in a multi-phase hydrothermal breccia which contains fine grained sulfosalts, native silver, and is associated with strong potassic alteration and faulting. This new zone is estimated to be within 50 metres of historical underground workings yet was not discovered by historical drilling. Extending this new zone will be a focus for the 2020 exploration program.

Figure #1 - Plan map of drilling at the Cliff Creek zone and the approximate location of the new zone.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6169/51228_ce67f695e4b62975_001.jpg

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6169/51228_ce67f695e4b62975_001full.jpg

Benchmark has had previous success finding new zones within areas of historical drilling at Lawyers through a combination of extending drill holes based on observations of alteration and/or extensive sampling of all drilling to better gauge some of the more fine-grained and obscured mineralization styles that were previously unrecognized or ignored owing to weaker precious metal prices (see Dec 11 2019 and Nov 19 2018 press releases). Benchmark believes the large potassic alteration anomalies which cover parts of Lawyers have the potential for new discoveries. Of particular interest is the 4 by 3 km radiometric anomaly which encompasses Cliff Creek, Dukes Ridge, Phoenix and AGB (Figure 1).

Figure #2 - Simplified cross-section of 19CCDD025 depicting the Cliff Creek main zone and the newly discovered eastern zone at depth.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6169/51228_ce67f695e4b62975_002.jpg

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6169/51228_ce67f695e4b62975_002full.jpg

Quality Assurance and Control

Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO 9001:2008 accredited facility). The sampling program was undertaken by Company personnel under the direction of Rob L'Heureux, P.Geol. A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Analysis by four acid digestion with 48 element ICP-MS analysis was conducted on all samples with silver and base metal over- limits being re-analyzed by atomic absorption or emission spectrometry. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.

About Benchmark Metals Inc.

Benchmark is a Canadian mineral exploration company with its common shares listed for trading on the TSX Venture Exchange in Canada, the OTCQB Venture Market in the United States, and the Tradegate Exchange in Europe. Benchmark is managed by proven resource sector professionals, who have a track record of advancing exploration projects from grassroots scenarios through to production.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ "John Williamson"
John Williamson, Chief Executive Officer

For further information, please contact:
Jim Greig
Email: jimg@BNCHmetals.com
Telephone: +1 604 260 6977

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51228

info