Benchmark Metals Inc (CVE:BNCH) (OTCQB:CYRTF) reported Friday more drilling success at the Amethyst Gold Breccia (AGB) Zone at its Lawyers project in the Stikine Terrane of British Columbia, sending shares in Toronto higher.
Ten holes, for 2,749 meters, were sunk at AGB during 2019, representing the first subsurface exploration of the zone since the Cheni Mine closure in 1992, the firm noted.
Drilling hit two zones of mineralization, including an upper zone of 1.10 grams per ton (g/t) gold and 41.62 grams per ton (g/t) silver over 42.15 metres of core length, the company said.
There was also a high-grade lower zone of 30.2 g/t gold and 1,361 g/t silver over 2.95 metres, the firm said.
Benchmark also reports encouraging results 200 metres along strike to the south in another hole which yielded 1.16 g/t gold and 30.56 g/t silver over 67 metres.
"Drilling at AGB continues to yield fantastic results below and along strike from the historical mining," said John Williamson, the CEO at Benchmark.
"Our drilling is demonstrating strong continuity of the mineralizing system beyond its previously known extents and identifying historically unrecognized bulk tonnage potential, representing a significant opportunity to add gold and silver ounces to the Lawyers Project."
Benchmark also noted that visual results from all six of the drill holes remaining to be assayed at AGB indicated that mineralization remained open along strike to the south, north, and at depth, potentially increasing the strike length to greater than 550 metres and extending mineralization to around 200 vertical metres, significantly deeper than historical drill depths.
Shares added almost 17% in Toronto to stand at $0.34 each.
Contact the author at [email protected]