Benz Mining Announces Maiden Regional Exploration Campaign Confirms Multiple Commodity Potential for Upper Eastmain Greenstone Belt
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, 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 21st 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.
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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.
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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.
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Figure 4: Ruby Hill East and Eastmain 2005 regional VTEM showing +10km of unexplored VTEM conductors.
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Figure 5: Ruby Hill West and Eastmain Geology with documented mineral occurrences and known deposits.
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Figure 6: Ruby Hill West and Eastmain 2005 regional VTEM showing +30km of unexplored VTEM conductors.
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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.
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Figure 8: FLEM Loop F with the location of the 8.3g/t gold rock chip sample at the Lac Erasme occurrence.
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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.
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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 |
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| Drilling techniques |
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| Drill sample recovery |
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| Logging |
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| Sub-sampling techniques and sample preparation |
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| Quality of assay data and laboratory tests |
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| Verification of sampling and assaying |
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| Location of data points |
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| Data spacing and distribution |
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| Orientation of data in relation to geological structure |
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| Sample security |
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| Audits or reviews |
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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 |
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| Exploration done by other parties |
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| Geology |
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| Drill hole Information |
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| Data aggregation methods |
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| Relationship between mineralisation widths and intercept lengths |
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| Diagrams |
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| Balanced reporting |
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| Other substantive exploration data |
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| Further work |
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