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Third Rig at Eastmain, Mineralised Tonalite at E Zone

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·19 min read
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HIGHLIGHTS

  • Third drill rig on site adding to the two already in operation at Eastmain

  • Drilling capacity increased to c.1,500m/week - 38,000m drilled to date, on track to achieve the 2021 plan of 50,000m

  • Drilling targeting DHEM conductors down-plunge of A and C Zones and extensions to E Zone

  • Over 15,000 samples from 52 drillholes awaiting assays

  • New style of mineralisation discovered at E Zone associated with a tonalite intrusion located structurally between the Kotak and Mine trend with visible gold observed

Toronto, Ontario--(Newsfile Corp. - October 20, 2021) - Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) (the Company or Benz) is pleased to provide an update on its 2021 drilling campaign. The third drill rig, originally booked for September, is now on site at Eastmain and drilling electromagnetic targets down-plunge from the existing resource.

CEO, Xavier Braud, commented: "The third rig we needed to accelerate our drilling program is now in operation at Eastmain. Our current drilling capacity has increased to ~1,500m per week which will see us achieve our original target of 50,000m of drilling this year. We currently have over 15,000 samples awaiting assay results. Turnaround time at the laboratory has been extremely slow especially with the need for metallic screen fire assays. The discovery of a new mineralised system with visible gold at E Zone is also very exciting and we look forward to sharpening our understanding of this new fertile system. Eastmain is still surprising us which augurs very well for the future."



Figure 1: Eastmain Gold Project with 2021 drillholes pending assays, 2021 drilling with logged visible gold, DHEM conductors modelled to date and current drill rig location

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1818/100286_40359210d43bebaa_001full.jpg



Figure 2: Map view of the Eastmain Project with historical and current high grade drill results and 2021 drilling pending assays with EM conductors and simplified geology

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/1818/100286_40359210d43bebaa_002full.jpg

Tonalite Zone discovery

At E Zone, drilling encountered a tonalite intrusion structurally located between the Kotak horizon and the Mine horizon.

This tonalite has a variable thickness over the area.

The tonalite shows numerous zones of alteration with silicification, sericitization and albitisation. Quartz veins are present with associated tourmaline and carbonate.

The tonalite also shows sulphide mineralisation as disseminations in the veins and on their margins. Sulphides include pyrite, pyrrhotite and chalcopyrite with occasional sphalerite and molybdenite. Garnet porphyroblasts are observed in the strongest alteration zones. Sulphide mineralisation coincides broadly with the conductors identified by downhole EM.

Quartz veins with carbonate within the tonalite contain visible gold.

Visible gold was also observed in the upper sheared contact between the tonalite and the overlying alternation of volcanics and ultramafics.



Figure 3: NE-SW Schematic geological cross section showing the newly discovered
mineralised tonalite intrusion at E Zone

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/1818/100286_40359210d43bebaa_003full.jpg



Figure 4: Mineralised tonalite contact with visible gold associated with quartz-pyrrhotite
veining (Hole EM21-167, 278.6m)

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/1818/100286_40359210d43bebaa_004full.jpg



Figure 5:Mineralised vein is hosted in a moderately biotitized, silicified and albitized tonalite with tourmaline-quartz carbonate veins and local garnet porphyroblasts. (Hole EM21-207, 342.2m)

To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/1818/100286_40359210d43bebaa_005full.jpg

A and C Zones extensions at depth guided by DHEM

Drilling of DHEM conductors down-plunge from A and C Zones show that the mineralised system carries out at depth. The current drilling in those areas follows the same methodology applied by Benz in the last 12 months at Eastmain with 100m step-outs. Whilst this spacing is too wide to establish a resource estimate from the current drilling, it gives the Company a much better understanding of the potential footprint of the deposit before planning infill drilling.



Figure 6: C Zone depth extension (EM21-205, 601.0m)

To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/1818/100286_40359210d43bebaa_006full.jpg



Figure 7: A Zone depth extension, Mine horizon with quartz, pyrrhotite, pyrite and chalcopyrite (EM21-204B, 564.7m)

To view an enhanced version of Figure 7, please visit:
https://orders.newsfilecorp.com/files/1818/100286_40359210d43bebaa_007full.jpg

Eastmain Gold Project

The Eastmain Gold Project, situated on the Upper Eastmain Greenstone Belt in Quebec, Canada, currently hosts a NI 43-101 and JORC (2012) compliant resource of 376,000oz at 7.9gpt gold (Indicated: 236,500oz at 8.2gtp gold, Inferred: 139,300oz at 7.5gtp gold). The existing gold mineralisation is associated with 15-20% semi-massive to massive pyrrhotite, pyrite and chalcopyrite in highly deformed and altered rocks making it amenable to detection using electromagnetic techniques. Multiple gold occurrences have been identified by previous explorers over a 10km long zone along strike from the Eastmain Mine with very limited but highly encouraging testing outside the existing resource area. Benz has subsequently identified over 150 DHEM conductors over a strike length of 6km which is open in all directions.

This press release was prepared under supervision and approved by Dr. Danielle Giovenazzo, P.Geo, acting as Benz's qualified person under National Instrument 43-101.

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 8: Benz tenure over Upper Eastmain Greenstone Belt simplified geology.

To view an enhanced version of Figure 8, please visit:
https://orders.newsfilecorp.com/files/1818/100286_40359210d43bebaa_008full.jpg

On behalf of the Board of Directors of Benz Mining Corp.

Xavier Braud, CEO

For more information please contact:

Paul Fowler
Head of Corporate Development (Canada)
Benz Mining Corp.
Telephone: +1 416 356 8165
Email: info@benzmining.com

Xavier Braud
CEO, Head of Corporate Development (Aus)
Benz Mining Corp.
Telephone +61 423 237 659
Email: info@benzmining.com

Forward-Looking Information: Certain statements contained in this news release may constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

NEITHER THE 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 ACCURACY OR ADEQUACY OF THIS RELEASE.

Competent Person's Statements: The information in this report that relates to Exploration Results is based on and fairly represents information and supporting information compiled by Mr Xavier Braud, who is a member of the Australian Institute of Geoscientists (AIG membership ID:6963). Mr Braud is a consultant to the Company and has sufficient experience in the style of mineralization and type of deposits under consideration and qualifies as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Braud holds securities in Benz Mining Corp and consents to the inclusion of all technical statements based on his information in the form and context in which they appear.

The information in this announcement that relates to the Inferred Mineral Resource was first reported under the JORC Code by the Company in its prospectus released to the ASX on 21 December 2020. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and confirms that all material assumptions and technical parameters underpinning the estimate continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.

Appendix 1: Collar Table 2021 Drilling

DDH ID

X_NAD83_Z18N

Y_NAD83_Z18N

Elevation

Azimuth (planned)

Azimuth (measured)

Dip planned

Dip (measured)

Planned Depth

Total Drilled length

EM21-143

698713

5798618

485.0

215

215.35

-56.9

56.92

550

567

EM21-144

698568

5799058

485

215

215.1

-75

75

450

477

EM21-145

698315

5799210

487

215

215.3

-60

60

350

333

EM21-146

698280

5799265

495

215

215

-60

60

350

297

EM21-147

698184

5799041

490

220

220

-55

55

200

225

EM21-148

698192

5799167

491

220

220

-60

55

265

265

EM21-149

698014

5799532

487

217

217

-55

54.9

220

225

EM21-150

698182

5799743

510

217

217.1

-55

54.9

165

201

EM21-151

698569

5798713

483

216

216.19

-60

60.4

620

657

EM21-152

699236

5798936

508

225

225

-75

74.9

600

636

EM21-153

699248

5798810

480

225

225.3

-80

80.5

620

619.3

EM21-154

699247

5799006

484

225

225.16

-75

75

610

675

EM21-155

698518

5798790

486

220

219.88

-60

60.4

575

585

EM21-156

698582

5799177

485

215

215.04

-75

75.3

450

507

EM21-157

698434

5799154

485

240

239.9

-60

58

450

471

EM21-158

698405

5799250

483

245

249

-60

59

600

648

EM21-159

698520

5799290

484

245

244.5

-65

-64.9

450

450

EM21-160

700655

5797357

503

215

214.66

-70

-70.4

450

477

EM21-161

701002

5797424

499

215

214.9

-60

-60.2

300

351

EM21-162

700174

5798070

488

210

210.4

-65

-65.3

550

651

EM21-163

701190

5797310

509

215

215.3

-60

-60

300

201

EM21-164

701030

5797282

524

210

210.4

-60

-60.2

200

273

EM21-165

700394

5798111

487

210


-74

-73.9

800

783

EM21-166

701160

5797442

494

215

214.9

-60

-60.6

380

411

EM21-167

701401

5797480

503

180

180.1

-70

-70.2

360

468

EM21-168

700280

5798134

485

210

210.3

-75

-75

680

687

EM21-169

701246

5797779

490

210

209.6

-75

-74.6

450

621

EM21-170

700276

5797965

490

210

210.3

-70

-70.4

600

636

EM21-171

700171

5797963

489

210

210

-70

-70.3

525

567

EM21-172

700605

5797443

495

210

209.9

-60

-60

450

453

EM21-173

700297

5797805

492

210

204.3

-70

-71

460

463

EM21-174

701371

5798073

484

210

209.65

-65

-65.3

800

781.45

EM21-175

700226

5797876

487

206

207.71

-70

-70

550

573

EM21-176

701210

5798045

483

213

212.8

-67

-67

610

624

EM21-177

700114

5797875

486

210

209.9

-70

-70.1

465

471

EM21-178

700263

5798666

481

215

215.3

-65

-65

600

603

EM21-179

700062

5797789

485

210

209.9

-70

-70.1

400

444

EM21-180

700357

5798529

482

210

210.1

-70

-70.5

650

648

EM21-181

700181

5797790

487

210

209.9

-65

-65.2

490

486

EM21-182

700341

5798224

484

210

209.9

-75

-75.2

700

780

EM21-183

700080

5798025

485

210

209.8

68

-67

600

669

EM21-184

700368

5797902

491

210

210.2

-70

-70.1

600

573

EM21-185

700305

5798405

486

210

209.47

-70

-70.02

800

804

EM21-186

700262

5797716

494

210

209.5

-70

-70.1

420

474

EM21-187

700428

5798232

487

210

205.65

-75

-75.2

780

831

EM21-188

700188

5797587

492

210


-70

-70.1

380

342

EM21-189

700039

5797566

495

210

209.45

-70

-69.94

350

309

EM21-190

700675

5797450

497

210

210.7

-65

-65.88

450

474

EM21-191

700474

5798085

492

210

208.3

-70

-69.83

680

696

EM21-192

701121

5797475

504

215

215

-60

-59.9

380

429

EM21-193

701204

5797420

494

215

215.2

-60

-59.9

430

420

EM21-194

700230

5798513

490

210

209.7

-70

-70.1

800

837

EM21-195

701352

5797496

500

185

184.8

-70

-70.1

460

513

EM21-196

701352

5797496

500

215

215.4

-60

-59.7

750

750

EM21-197

700253

5798660

479

200

196.7

-82

-83

550

798

EM21-198

701457

5797479

505

185

185.4

-70

-70.4

550

591

EM21-199

699463

5798380

480

215

214.7

-70

-69.9

650

720

EM21-200

701470

5797599

513

185

184.83

-70

-69.9

550

654

EM21-201

699599

5798581

484

210

209.6

-70

-70

750

816

EM21-202

701389

5797381

502

185

184.9

-70

-70

450

528

EM21-203

699776

5798523

483

215

215.1

-70

-70.1

670

627

EM21-204-B

699141

5799038

487

215

215.4

-70

-70.1

600

711

EM21-205

699783

5798534

482

215

214.9

-80

-79.9

700

693

EM21-206

701545

5797486

513

185

185.1

-70

-69.9

550

600

EM21-207

701411

5797582

505

185

N/A

-70

N/A

480

591

EM21-208

699050

5799080

493

215

215.89

-70

-70.28

650

588

EM21-209

699735

5798655

482

215

215.7

-75

-75.02

650

741

EM21-210

701222

5797541

503

215

214.33

-65

-65.51

500

510

EM21-211

699095

5798740

485

220

220.91

-70

-69.92

500

471

EM21-212

699647

5798671

477

215

N/A

-70

N/A

700

In progress

EM21-213

700971

5797181

531

215

215.05

-60

-60.1

300

In progress

EM21-214

699169

5798821

481

220

219.8

-70

-69.8

550

In progress


Appendix 2: JORC Tables

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria

JORC Code explanation

Commentary

Sampling techniques

Drilling techniques

Drill sample recovery

Logging

Sub-sampling techniques and sample preparation

Quality of assay data and laboratory tests

Verification of sampling and assaying

Location of data points

Data spacing and distribution

Orientation of data in relation to geological structure

Sample security

Audits or reviews

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria

JORC Code explanation

Commentary

Mineral tenement and land tenure status

Exploration done by other parties

Geology

Drill hole Information

Data aggregation methods

Relationship between mineralisation widths and intercept lengths

Diagrams

Balanced reporting

Other substantive exploration data

Further work

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100286