Published: April 1, 2022 |

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Benchmark Metals Inc. said it expects to complete an updated mineral resource estimate (MRE) and preliminary economic assessment (PEA) for its flagship Lawyers gold-silver project in British Columbia’s Golden Horseshoe area in the first half of 2022.

Updating investors on the ongoing technical and engineering work, Benchmark said completion of the MRE will provide a new mine plan into the PEA. P&E Mining Consultants have commenced modeling work for the updated MRE and the majority of engineering for the PEA is completed, the company added.

“In the coming months the company will deliver a mineral resource estimate with drilling focused on significant infill drilling, resource expansion and adding near-surface gold-silver ounces,” the company’s Vice President for Engineering Ian Harris said in a statement.

In parallel, Harris noted that Benchmark has advanced multiple engineering and environmental studies and trade-offs guiding drilling with a “mine building mindset”.

“We believe this will drive significant value to the preliminary economic assessment, to be completed in short order once resources are updated,” Harris said.

“During 2022, Benchmark will rapidly advance to a mining decision with a $30 million budget for environmental assessment readiness, feasibility level design, and drilling,” Harris added.

To date, Benchmark has completed significant components required for the PEA. In addition, considerable geotechnical and metallurgical work is completed to support the feasibility study.

It noted that it is near completion of the following components:
• Mineral resource estimate update - awaiting final drill hole assay and model designs
• Mine design criteria - geotechnical and hydrogeological work complete awaiting final tonnage estimates
• Tailings and waste facilities design - conceptual and initial trade-off work complete. Feasibility level design
  awaiting final tonnages and geotechnical and hydrogeological work planned to begin in May 2022
• Metallurgy, comminution, grindability, and detailed recovery dataset complete
• Mining - final mine schedule is pending the updated MRE
• Processing - conventional flow-sheet design utilizing gravity recovery, whole-ore leaching and a Merryl Crowe
  circuit complete
• Infrastructure, facilities and layout locations complete
• Equipment requirements selected
• Environmental & permitting - baseline work is ongoing

The company said the former mining road is approved and permitted for re-activation, which means advanced infrastructure will be in place when mine construction and production begins. It said it has pre-ordered road-building material in preparation for a 2022 road-building program to reinstate the former mining road, a legacy from the 1990s.

Additionally, Benchmark said it has purchased a sample preparation lab that will help reduce long wait times for assay results. It said the lab will provide multiple advantages by returning faster results to enable more informed drilling, reduce the wait times for drilling news and provide the backbone for a complete laboratory for future mine production.

The lab will adhere to industry-standard methodology with appropriate quality assurance and quality control and a qualified person review and approval, and will be installed during the Spring to facilitate sample analysis thereafter, it added.

Benchmark Metals is advancing its wholly-owned owned Lawyer’s project, which sits in the prolific Golden Horseshoe of northern British Columbia. The project consists of three mineralized deposits that remain open for expansion, in addition to over 20 new target areas along a 20-kilometer trend.

Source: Proactive Investors

About Benchmark Metals
Benchmark Metals Inc. is a mineral exploration company focused on advancing and developing the substantial resource potential of the Lawyer’s Gold-Silver Project, located in the prolific Golden Horseshoe of northern British Columbia, Canada. Benchmark is led by a dynamic group of resource sector professionals who have a strong record of success in advancing mining projects from exploration through to production, attracting capital and overcoming adversity to deliver exceptional shareholder value.

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