VANCOUVER, June 21, 2017 -
Benz Mining Corp. (TSX-V:BZ) (the “Company” or “Benz”), is pleased to announce plans for 2017 exploration at its Mel zinc-lead-barite property, located in the southeast Yukon. The proposed work program is scheduled to start in mid-July and will include excavator trenching and up to a maximum of 8,000 m of diamond drilling.
The main objective of the 2017 program is to confirm and expand mineral resources, which were recently reported in a technical report titled “Technical Report on the Mel Zinc-Lead-Barite Property”, with an effective date of March 20, 2017, and will focus on:
• Extending areas of near-surface mineralization within the Mel Main Zone;
• Infill and definition drilling within the Mel Main Zone; and,
• Systematic testing of favourable stratigraphy near other known mineral showings and elsewhere on the property.
Exploration activities will be divided into three phases. Phase I will begin in mid-July and will include soil sampling, mapping, and excavator trenching designed to test favourable stratigraphy and identify drill targets. Phase II will begin in mid-August and comprise approximately 3,000 m of diamond drilling within the Mel Main Zone. Phase III is contingent upon results from prior phases and will include an additional 5,000 m of diamond drilling.
In preparation for the 2017 exploration, Benz mobilized an excavator and bulldozer to the property in early March via a winter road and ice bridge. This equipment will facilitate surface exploration and is anticipated to reduce expenditures by minimizing the reliance upon helicopters.
“The main goals are to confirm the continuity of grades and widths of mineralization within the Mel Main Zone and to demonstrate areas with potential to expand the current resource, and secondarily to identify other targets within the property,” stated Michael Gareau, Benz’s VP of Geology and Exploration.
The proposed program may be expanded subject to favourable exploration results.
About the Mel Project
The Mel property is located within a belt of important sedimentary exhalative zinc-lead deposits, which includes the Howard's Pass, the Tom and Jason and the Akie deposits. Mel is situated 80 km east of Watson Lake and 40 km north of the Alaska Highway in southeastern Yukon Territory.
The Mel Main Zone hosts an inferred resource of 5.28 million tonnes grading 6.51% zinc, 1.86% lead and 45.05% barite (BaSO4), at a zinc-equivalent cut-off grade of 5.0%. Mineralization at the Main Mel Zone consists of coarse-grained sphalerite and galena disseminated throughout a mixture of mudstone, silica-carbonate and coarsely crystalline barite. Minor amounts of fine-grained, sparsely disseminated pyrite occur locally. The Main Mel Zone is open down-dip and potentially also along strike and has good potential to host a larger zinc-lead resource.
A complete copy of the Mel Technical Report prepared by independent qualified persons, H. Leo King, P.Geo. and G.H. Giroux, P.Eng., can be viewed at www.sedar.com under the Benz profile or on Benz’s website at benzmining.com. Zinc equivalent values were calculated using US$1.01/lb zinc, US$0.94/lb lead and recoveries of 90.3% and 97.7% respectively.
All technical information in this news release has been reviewed and approved by Michael Gareau, P.Geo., Vice President of Geology and Exploration for Benz, and a Qualified Person for the purposes of National Instrument 43-101.
About Benz
Benz Mining Corp. is focused on acquiring and developing mining assets in safe jurisdictions and is led by a team of experienced mine developers. For additional information concerning Benz or its Mel project please visit Benz’s website at benzmining.com.
On behalf of the Board of Directors of Benz Mining Corp.
Miloje Vicentijevic
President and Chief Executive Officer
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.
For more information please contact
Benz Mining Corp.
Telephone: 604.617.1239
Email: info@benzmining.com
