Benz Mining Announces Maiden Regional Exploration Campaign Confirms Multiple Commodity Potential for Upper Eastmain Greenstone Belt

By: Newsfile

August 26, 2021 at 08:45 AM EDT

HIGHLIGHTS

Regional exploration summer work confirms numerous mineral occurrences across Benz tenement package typical from Archean greenstone belts
Outcropping lithium (spodumene) bearing pegmatite at Ruby Hill West with historic rock chips samples assay results from a 60m x 25m outcrop including:
- 4.72%Li₂O, 1720 ppm Rb (>100ppm Ta, >500ppm Cs)
- 2.15% Li₂O, 990 ppm Rb (>100ppm Ta, >500ppm Cs)
- 1.97% Li₂O, 3660 ppm Rb (>100ppm Ta, >500ppm Cs)
- 1.10% Li₂O, 710 ppm Rb (>100ppm Ta, >500ppm Cs)
Outcropping copper-gold mineralization in the Placer Lake Area coincident with newly defined FLEM conductors with historical values of 2.7% Cu and 8.2 g/t Au
Multiple occurrences coincident with VTEM anomalies at both Ruby Hill West and East
30km of untested VTEM conductors on ultramafic contact at Ruby Hill West and East
Third drill rig due at site imminently with assays for 15,000m currently outstanding

Toronto, Ontario--(Newsfile Corp. - August 26, 2021) - Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) (the Company or Benz) is pleased to update the market on its summer regional exploration campaign, led in parallel with its 50,000m diamond drilling campaign at Eastmain. Multiple documented mineral occurrences were visited to confirm historical data, collect additional surface samples and prepare for further exploration activities.

The successful campaign confirmed the strong mineral endowment potential of the upper Eastmain Greenstone Belt of which Benz controls 220km² or approximately 30%. A large part of the belt's geology lies under a thin layer of cover, a situation that Benz has successfully overcome at Eastmain with the discovery of three new mineralized zones under glacial till cover using the appropriate geophysical methods.

CEO, Xavier Braud, commented: "Archean Greenstone Belts worldwide have been a source of mineral wealth thanks to their amazing endowment, not only in gold but in base metals from copper rich VMS deposits to ultramafic hosted nickel deposits. If one wanted to compare the Upper Eastmain Greenstone Belt with an Australian example, the Agnew to Wiluna Greenstone Belt would come to mind. The significant difference is that the Agnew to Wiluna belt has been accessible to prospectors and explorers for over 100 years while the road to the Upper Eastmain Greenstone Belt is only 5 years old. Now that Benz has year-round, all-weather access to the region and the only fully operational winterised exploration camp in the belt, we will be able to realise the full potential it has to offer. Exploring the Upper Eastmain Greenstone Belt in 2021 is a bit like having a virgin version of the Agnew to Wiluna belt to explore with 21^st century technology in a world craving minerals. Our team has close to 100 years of cumulative nickel-copper-PGE exploration experience with WMC, BHP, IGO and Falconbridge. We are excited to draw on this experience in the Upper Eastmain Greenstone belt."

Figure 1: Agnew to Wiluna Greenstone Belt; >100years of access and exploration activities, multi-million ounce gold endowment, globally significant nickel production area and verified lithium endowment.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1818/94485_13f98cde34a19864_001full.jpg

Figure 2: Upper Eastmain Greenstone Belt at the same scale; 5 years of year-round all-weather access, 1 gold deposit confirmed and growing and multiple unfollowed metallic occurrences.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/1818/94485_13f98cde34a19864_002full.jpg

Figures 1 and 2 place in parallel the Agnew to Wiluna Greenstone Belt in Western Australia and the Upper Eastmain Greenstone Belt in Quebec. In the Western Australian belt, the first gold was discovered at the Lawlers gold field in 1895 and continuous mining and exploration activities since then have seen the discovery of multiple multi-million ounce deposits.

Gold was first discovered in the Upper Eastmain Greenstone Belt in 1969 and it is only in 2016 that the Route 167 Nord unlocked this untapped greenstone belt. Benz has a considerable first mover advantage with the only permitted camp in the belt.

Multiple mineral occurrences coincident with VTEM

The 2005 Variable Time Domain Electro Magnetic (VTEM) survey, helped identify tens of kilometres of conductive zones, associated with mafic and ultramafic units but also with iron formations and sediments. All these environments are prospective for a range of commodities and the presence of documented mineral occurrences near the VTEM anomalies augurs well for future exploration success.

Figure 3: Ruby Hill East and Eastmain Geology with documented mineral occurrences and known deposits.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/1818/94485_13f98cde34a19864_003full.jpg

Figure 4: Ruby Hill East and Eastmain 2005 regional VTEM showing +10km of unexplored VTEM conductors.

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/1818/94485_13f98cde34a19864_004full.jpg

Figure 5: Ruby Hill West and Eastmain Geology with documented mineral occurrences and known deposits.

To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/1818/94485_13f98cde34a19864_005full.jpg

Figure 6: Ruby Hill West and Eastmain 2005 regional VTEM showing +30km of unexplored VTEM conductors.

To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/1818/94485_13f98cde34a19864_006full.jpg

Exploration opportunities

Benz recently completed a test survey over its newly discovered D zone with a new version of airborne high powered VTEM. The newer VTEM systems are designed to be far superior to the equipment used in the original 2005 survey flown by Eastmain Resources over Benz's projects.

Results of this test are currently being interpreted and, following the results, Benz will be able to decide whether VTEM will be used to explore its extensive tenement package.

Gold Potential

Extension of the Mine horizon to the NW

Several days were spent following up high gold values identified by Eastmain Resources in trenches and understanding the structure and alterations. This work enabled Benz to extend the mineralized zones previously reported, including the Suzanna and Michel zones where rock chips taken at surface assayed up to 125gpt gold.

Grids G and H

These areas were covered with ground Crone Deep Electromagnetic (EM) surveys last winter and several EM conductors were prospected by our geologists. Mineralized quartz veins and garnet biotite alteration zones were identified in the field corresponding closely to the EM conductors and in the same stratigraphic position as the Eastmain Mine trend. These EM conductors will be tested in upcoming drill programs.

Grid F / Loop F

This grid covers the Lac Erasme, Lac Placer and the Meg Au-Cu occurrences. Several ground EM conductors were identified, some of which correspond to the historical mineral occurrences.

The Lac Erasme occurrence was discovered in 1983 and yielded values up to 2.72% Cu, 8.25 g/t Au in grab samples. This area contains several gossanous outcrops, where the contact between felsic pyroclastic and basalt is mineralized in pyrite and pyrrhotite. The rocks are strongly altered as well.

Figure 7: Mineralized contact between basalts and altered felsic pyroclastic, Lac Erasme occurrence looking North west, the felsic tuffs are to the right of the photo. Samples taken from this outcrop have assayed 8.3g/t gold and 2.7% copper.

To view an enhanced version of Figure 7, please visit:
https://orders.newsfilecorp.com/files/1818/94485_13f98cde34a19864_007full.jpg

Figure 8: FLEM Loop F with the location of the 8.3g/t gold rock chip sample at the Lac Erasme occurrence.

To view an enhanced version of Figure 8, please visit:
https://orders.newsfilecorp.com/files/1818/94485_13f98cde34a19864_008full.jpg

In the Ruby Hill East property, a mineral occurrence called the Lac Rene Sud showing corresponds to strongly deformed sulphide bearing silicate and magnetite iron formations with associated conglomerates. There are multiple quartz veins present in this unit. Only one outcrop was sampled in the past and yielded values of up to 1.65 g/t Au (Quebec government report). This mineralized zone was found to extend for at least 1.4km to the NW on the same magnetic trend and represents an excellent exploration target that will require further work.

The main mineralized occurrences within the Ruby Hill West property were visited as well.

Nickel potential

Geological mapping and interpretation from geophysics by Quebec's MERN shows the presence of multiple ultramafic flows within the tenement package. In the rare areas where they outcrop, those ultramafics are komatiitic in composition and as such could be prospective hosts for nickel sulphide mineralization. In addition to the komatiitic flows, several zoned mafic and ultramafic intrusions are present in the south-west part of the Ruby Hill East property.

MaxMin surveys and later airborne EM surveys showed numerous anomalies within the greenstone belt. The most recent VTEM survey has identified multiple conductors coincident on the contact of these ultramafics and mafic rocks over 30km at Ruby Hill West and over 10km at Ruby Hill East. However, to our knowledge no exploration for nickel sulphide mineralization associated with the mafic and ultramafic rocks has been conducted.

Outside of the Upper Eastmain River greenstone belt, the Lac Lessard nickel prospect has nickel-copper-PGE disseminated sulphide mineralization associated with a younger mafic / ultramafic zoned intrusion. This intrusion is part of an intrusive trend, called the Dominique suite, interpreted as Paleoprotezoic.

Copper- Zinc potential

Multiple surface occurrences of polymetallic mineralization have been identified since the early 1980's.

Most occurrences recorded show sulphide mineralization usually associated with lithological transitions between felsic and mafic units, typical of Volcanogenic Massive Sulphides environment.

Lithium potential

The lithium potential of Archean Greenstone Belts comes from late pegmatite intrusions commonly bearing lithium rich minerals including spodumene.

Production of spodumene concentrates from greenstone hosted LCT (lithium, cesium, tantalum) pegmatites is an integral part of the currently growing and undersupplied global lithium market.

A prime example of such a deposit is Western Australia's Pilgangoora deposit currently in production by Pilbara Minerals. Keeping the comparison between the Agnew to Wiluna and the Upper Eastmain Greenstone belts, the Kathleen Valley Lithium deposit owned by Liontown Resources show the belts potential for the critical battery element.

In the James Bay area of the Province of Quebec, several lithium bearing pegmatites are in an advanced production stage (Nemaska Lithium, Rose) in addition to several other Li bearing pegmatites at a prospect stage.

In the Ruby Hill West project area, a lithium (spodumene) bearing pegmatite outcrops over an area of 25m x 60m. Rock chips samples, collected in 2016, returned assay results of:

4.72%Li₂O, 1720 ppm Rb (>100ppm Ta, >500ppm Cs)
2.15% Li₂O, 990 ppm Rb (>100ppm Ta, >500ppm Cs)
1.97% Li₂O, 3660 ppm Rb (>100ppm Ta, >500ppm Cs)
1.10% Li₂O, 710 ppm Rb (>100ppm Ta, >500ppm Cs)

The limited size of the outcrop is mostly due to the presence of thin cover over the area masking potential extensions to the outcrop.

Figure 9: Photograph taken of the spodumene bearing pegmatites in the Ruby Hill West property.

To view an enhanced version of Figure 9, please visit:
https://orders.newsfilecorp.com/files/1818/94485_13f98cde34a19864_009full.jpg

Regional VTEM

In 2005, Eastmain Resources flew a VTEM survey over Ruby Hill West, Ruby Hill East and Eastmain projects. The technology available at the time did not allow for precise modelisation of EM conductors nor for precise location and shape of the conductive zones but still showed vast tracts of land with coincident VTEM conductors and prospective lithologies.

When adding those VTEM anomalies to the map of recorded mineral occurrences in outcrop and in drilling, the whole area is strongly prospective for the discovery of additional sulphide bearing mineralisation.

To help with the targeting, an extensive soil survey was conducted this summer to cover prospective areas with overburden in areas not previously covered. Several till samples were also collected in selected areas.

Eastmain Gold Deposit

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 mineralization 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.

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.

Analytical samples were taken from grab samples and sent to Actlabs in Ste Germaine de Boule, Qc for preparation and gold analysis then to Ancaster, Ont for multielement analysis. All core assays reported were obtained by standard 30 or 50-gram fire-assaying-AA finish (codes 1A2B30 /1A2B50) and gravimetric finish (code 1A3-50) for samples with > 10gr/t Au. Samples are also analyzed for multi-elements, using a four-acid digestion -ICPMS method (code UT-4M).

Because of the presence of visible gold, BENZ is using a 1000gr metal sieve (code1A4-1000) for mineralised samples.

Quality Assurance/Quality Control ("QA/QC") and interpretation of results is performed by qualified persons. A QA/QC program consistent with NI 43-101 and industry best practice has been implemented with internal certified OREAS standards and blanks inserted at every 20 samples by the corporation.

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.

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: JORC Tables

Section 1 Sampling Techniques and Data

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

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	Historical surface sampling data. Samples were collected by geologists in the field and may only represent a small fraction of the local geology Samples were collected following visual criteria and mineralized samples were more likely to have been sampled Historical reports all indicate that for all the various types of samples collected, industry best practice of the time was followed and analysis were conducted at reputable laboratories with QA/QC systems in place.
Drilling techniques	Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	No drill results reported in this release
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	No drill results reported in this release
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged.	Rock chips samples have been extensively described and the description recorded on the SIGEOM (Système d'information géominière du Québec) database.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.	Rock chips samples submitted for chemical analysis. Various types of samples collected at various points in time All reports show that industry best practice at the time was followed
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	All of the reported assays are laboratory assays and are considered total.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data.	No verification of sampling has occurred yet. Benz Mining teams have visited the outcrops sampled historically and have collected multiple samples from each outcrop. Those new samples have been submitted for analysis and results have not yet been received
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control.	Surface samples location for samples collected before 2000 were approximate and based on positioning of sampling locations against topographical maps Post 2000 GPS location of samples was more accurate. Benz field teams reported that approximate locations coincided with outcrops in the field and the approximate locations were deemed accurate enough for the purpose of detecting anomalies.
Data spacing and distribution	Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied.	Not applicable. Data is not yet to be used in a resource estimation.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	Surface sampling has inherent bias as geologists tend to select material showing signs of mineralization preferentially.
Sample security	The measures taken to ensure sample security.	No record of samples security have been found however, descriptions of the protocol followed by reporting companies show that samples were in custody of the companies until transfer to the assay laboratories
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	The Company is constantly reviewing its sampling and assaying policies. No external audit has been conducted at this stage.

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	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	The Eastmain Mine Project comprises 152 contiguous mining claims each with an area of approximately 52.7 ha covering a total of 8,014.36 ha plus one industrial lease permit that are owned by Eastmain Mines Inc., a wholly owned subsidiary of Fury Gold Mines. The claims are numbered 1133433 to 1133583 consecutively plus claim 104458 (Figure 4.2). All of the claims are located within NTS sheet 33A 08. The former Mine Lease BM 817 was issued on January 10, 1995 and expired in 2015 after a 20-year term. This former Mine Lease was converted to Industrial Lease 00184710000 on September 1, 2015 and contains all normal surface rights. The former mineral rights for BM 817 are now included in the expanded Claims 1133523, 1133524, 1133525, 1133505, 1133506 and 1133507. The claims are 100% held by Fury Gold Mines subject to certain net smelter royalties ("NSR"). On August 9, 2019, Benz Mining Corp. announced that it has entered into an option agreement with Eastmain Resources Inc. (now Fury Gold Mines) to acquire a 100% interest in the former producing Eastmain Gold Project located in James Bay District, Quebec, for CAD $5,000,000. Eastmain Resources would retain a 2% Net Smelter Return royalty in respect of the Project. Benz may, at any time, purchase one half of the NSR Royalty, thereby reducing the NSR Royalty to a 1% net smelter returns royalty, for $1,500,000. The Eastmain Mine, as defined by the perimeter of a historic mining lease, is subject to a production royalty net smelter return ("NSR") of 2.3% through production of the next 250,000 oz produced and 2% thereafter. A package of claims surrounding the mine precinct is subject to a production royalty (NSR) of 2% in favor of Goldcorp as a result of their succession to Placer Dome in an agreement dated December 30, 1988 between Placer Dome, MSV Resources Inc. and Northgate Exploration Limited. The 152 claims that form the Eastmain Mine Property are all in good standing with an active status.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	1930s & 1940s - Prospecting of gossans 1950s & 1960s - Riocanex - Exploration of the Upper Eastmain Greenstone Belt Mid 1960s - Fort George - Diamond drilling of a gossan zone 1696 - Canex Aerial Exploration Ltd & Placer Development Ltd - Airborne magnetic and EM surveys with ground geophysics follow up. 1970 - Placer Development Ltd - Seven holes testing an EM anomaly. Discovery of A Zone with 1.5m @ 13.71g/t Au 1974 - Nordore - Aerodat airborne AEM survey and Ground geophysics. 3 holes returned anomalous gold values adjacent to B Zone 1974 - Inco Uranerz - Airborne geophysical survey over the whole greenstone belt. 1981 & 1982 - Placer - Airborne and ground EM, ground magnetics. Drilling of EM anomalies discovered B zone and C zone. 1983 to 1985 - Placer - Airborne and ground EM, downhole PEM, 91 holes over A B and C zones. 1986 - Placer - 25 holes into A B and C zones 1987 &1988 - Placer Dome / MSV JV - Drilling of A, B and C zones 1988 to 1994 - MSV Resources - Drilling, surface sampling, trenching, regional exploration, Seismic refraction over ABC Zones, 1994 & 1995 - MSV Resources - Mining of 118,356t at 10.58g/t Au and 0.3%Cu, processed at Copper Rand plant in Chibougamau, 40,000oz recovered 1997 - MSV Resources- Exploration, mapping, prospecting, trenching. 2004 - Campbell Resources - M&I resource calculation for Eastmain Mine. 2005-2007 - Eastmain Resources - Purchase of the project from Campbell Resources, VTEM, Prospecting, regional exploration. 2007-2019 - Eastmain Resources - Sporadic drilling, regional exploration, mapping, sampling, trenching. Surface geochemistry (soils)
Geology	Deposit type, geological setting and style of mineralisation.	In the Eastmain Gold Deposit, gold mineralization occurs in quartz veins with associated massive to semi-massive sulphide lenses/ veins and silicified zones associated with a deformation corridor. The mineralized zones are 3 m to 10 m thick and contained in a strongly deformed and altered assemblage (Mine series) consisting of felsic, mafic and ultramafic rocks. Mineralized quartz veins and lenses show a variable thickness between 10 cm and 13 m, and sulphide contents average 15% to 20% in the mineralized quartz veins and sulphide lenses. In order of decreasing abundance, sulphides consist of pyrrhotite, pyrite, and chalcopyrite, with minor sphalerite, magnetite and molybdenite. Visible gold occurs in the mineralized quartz veins as small (<1 mm) grains associated with quartz and (or) sulphides in the A, B and C Zones. Regionally, Benz Mining tenure covers Archean geology and predominantly greenstone sequences, composed of ultramafic, mafic and felsic volcanic, sub volcanic and plutonic rocks. Worldwide, Archean Greenstone Belts are know to host orogenic gold deposits, intrusion related gold deposits, polymetallic volcanogenic massive sulphide deposits, nickel sulphide deposits (Komatiite flow or ultramafic intrusive related), pegmatite hosted Lithium Tantalum Tin Cesium mineralization.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: easting and northing of the drill hole collar elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar dip and azimuth of the hole down hole length and interception depth hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	No drilling reported in this release
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated.	No drilling reported in this release
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known').	All sampling reported in this release is historical surface sampling which provides single point data
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	See figures in the body of text
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	All assays results available to the company have been released.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	Benz conducted systematic BHEM of each hole drilled as well as BHEM surveying of historical holes. BHEM identified over 150 in-hole and off-hole conductors coincident or not with drilled mineralization.
Further work	The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Benz Mining is currently conducting a 50,000m drilling campaign which started in January 2021 This drilling is conducted alongside regional FLEM surveys (TMC Geophysics) All new holes will be surveyed by BHEM as well as a selection of historical holes.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94485

Benz Mining Announces Maiden Regional Exploration Campaign Confirms Multiple Commodity Potential for Upper Eastmain Greenstone Belt

Sections

Services

Log In Using Your Account

Benz Mining Announces Maiden Regional Exploration Campaign Confirms Multiple Commodity Potential for Upper Eastmain Greenstone Belt

Sections

Services