Benz Mining is earning a 100% interest in the former producing high grade Eastmain gold mine, Ruby Hill West and Ruby Hill East projects, which are located within the Upper Eastmain Greenstone Belt in Quebec, Canada.
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I’m Ebony North for InvestmentPitch Media
Benz Mining Corp has released its long awaited assay results from the start of its 2021 drill campaign.
The company is earning a 100% interest in the former producing high grade Eastmain gold mine, Ruby Hill West and Ruby Hill East projects, which are located within the Upper Eastmain Greenstone Belt in Quebec, Canada.
The project currently hosts a NI 43-101 and JORC (2012) compliant resource of 376,000 ounces at 7.9 grams per tonne gold.
Results come predominantly from the NW Zone which is quickly emerging as a new high-grade lode system and has the potential to become an integral part of the Eastmain deposit.
The NW Zone is located about 600 metres to the northwest of the A Zone mineralised lens and camp infrastructure and can be accessed by a trail in summer.
The 50,000-metre drilling program well advanced, with 52 holes totalling 25,000 metres completed.
Assays are pending on 15,500 metres with multiple visible gold intercepts to come from D and E Zones
Assays for the first 17 holes include:
3.0 metres at 16.6 g/t gold including 1.5 metres at 32.8 g/t gold from EM21-143
7.8m at 8.7g/t gold including 1.0m at 32.6g/t gold from hole EM21-146
6.0m at 3.6g/t gold including 1.0m at 10.2g/t gold from EM21-145
3.0m at 5.2g/t gold including 1.0m at 15.0g/t gold from EM21-159
6.6m at 3.1g/t gold from EM21-158
Assay results of 8.9m at 1.5g/t gold including 1.5m at 7.3 g/t gold from EM21-157 confirms the parallel Nisto trend extends to NW Zone and is gold bearing and carries high-grade mineralisation.
The newly discovered Nisto trend at the NW Zone and A Zone is found between 100 and 200 metres deeper than the Mine Horizon.
Xavier Braud, CEO, stated: "We are glad to finally be able to release assay results from Eastmain, especially when they are great results. DHEM of historical holes at NW Zone had showed us many undrilled conductors. We drilled them and now we know that NW Zone is mineralised and presents the exact same characteristics as A, B and C Zones and poses as a new high-grade zone of the Eastmain deposit. This first pass scout drilling is wide spaced with drilling centres 100m apart and more. We have identified mineralisation over a large 400x 400m area and, more importantly, we have clearly identified two mineralised parallel horizons, both of which are proving to be gold bearing.
Eastmain is delivering above expectations and our exploration methodology utilising electromagnetics to guide discoveries continues to be extremely successful. We have identified conductors over a strike length of 6km and, to date, we haven't drilled a single conductor which has not returned the right geology. Every target we drill brings more information and we are gradually unlocking the full potential of the Eastmain deposit.
We now have over 150 DHEM conductors in the system and we are systematically drilling them. The DHEM data from NW Zone shows strong undrilled off-hole conductors near our high-grade intervals. Follow up drilling will start as soon as we increase our drilling capacity with a third rig arriving in the second half of August."
The shares are trading at $0.70.
For more information, please visit the company’s website, www.BenzMining.com, contact Paul Fowler, Head of Corporate Development for Canada, at 416-356-8165 or by email at info@BenzMining.com.
I’m Ebony North for InvestmentPitch Media
