EXPLORATION & DEVELOPMENT

New, old data creates high priority for Benchmark

Explorer aiming to expand gold-silver resource at BC project

Staff reporter

This article is 5 years old. Images might not display.

It said the data, geological compilation and reinterpretation had revealed "significant potential to add gold and silver ounces in unmined areas", citing historic drill results at AGB including 3m at 259.76g/t gold and 3,320.3g/t silver.

Benchmark said the AGB Zone was just 2km from the main resource expansion area at Lawyers and was under-explored and never fully mined.

The company is aiming for a 5 million ounce gold-equivalent resource at Lawyers after establishing a maiden 88,000oz gold and 4Moz silver resource last year. 

The former Cheni mine at Lawyers is said to have produced 171,200oz of gold and 3.6Moz of silver between 1989-1992.

Benchmark is earning an initial 51% of Lawyers from PPM Phoenix Precious Metals and had spent $2.2 million by December of the required $5 million (US$3.7 million) spend on exploration by June 2021.

It can earn up to 75% by issuing shares and spending a further $4 million (US$3 million) on exploration in the same timeframe.

It expanded the project last month by 30% by staking new claims to take the land package to 127km2.

Benchmark last month said Sprott Asset Management had made the lead order in its flow-through share placement at 22c that raised $1.9 million (US$1.4 million) in the first and second tranches.

The company's shares are up 20.8% year-to-date, last trading at 29c to capitalise it at $14.7 million (US$11 million).

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.