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Benz Mining Corp.
Benz Mining Corp.
Registriert in: Kanada WKN: A2DVM5 Rohstoffe:
Art: Originalaktie ISIN: CA08345Q2080 Blei
Zink
Sonstiges
Heimatbörse: TSX Venture Alternativ: BENZF
Währung: CAD    
Symbol: BZ.V Forum:

Benz Mining Announces New High Grade Gold Shoot Identified at North West Zone at Eastmain Gold Project

03.08.2021 | 12:00 Uhr | Newsfile

HIGHLIGHTS

  • Maiden broad spaced scout drilling into North West (NW) Zone (600m from current resource) has highlighted the potential for a new high grade gold shoot
  • Assays for the first 17 holes of 2021 received - assay results include:
    • 3.0m at 16.6g/t gold including 1.5m at 32.8g/t gold (EM21-143)
    • 7.8m at 8.7g/t gold including 1.0m at 32.6g/t gold (EM21-146)
    • 6.0m at 3.6g/t gold including 1.0m at 10.2g/t gold (EM21-145)
    • 3.0m at 5.2g/t gold including 1.0m at 15.0g/t gold (EM21-159)
    • 6.6m at 3.1g/t gold (EM21-158)
  • Results confirm the extensions of historical drilling results of
    • 6.0m at 3.3g/t gold including 2m at 9.3g/t gold (EM17-126)
    • 5.5m at 6.1g/t gold including 1.5m at 19.2g/t gold (83CH029)
  • Assays also confirm the parallel Nisto trend extends to NW Zone, is gold bearing and carries high-grade mineralisation with
    • 8.9m at 1.5g/t gold including 1.5m at 7.3 g/t gold (EM21-157)
  • Nisto trend is approximately 100-200m below the Mine Horizon and was discovered by Benz in 2021 via DHEM on historical holes
  • NW Zone mineralisation spread over 400m x 500m and open in all directions and is a part of the 6km gold bearing trend identified by Benz using both FLEM and BHEM surveys
  • Future drilling into NW Zone will target the high-grade plunging shoots identified by this scout drill program
  • 50,000 drilling program well advanced - 52 holes for 25,000m done - 15,500m assays pending with multiple visible gold intercepts to come from D and E Zones
  • 3rd drill rig secured to arrive in second half of August to accelerate exploration

Toronto, August 3, 2021 - Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) (the Company or Benz) is pleased to announce long awaited assays results for the start of its 2021 drilling campaign. Results come predominantly from NW Zone which is quickly emerging as a new high-grade lodes system and has the potential to become an integral part of the Eastmain deposit.



Figure 1: 2021 drilling location with significant assays results, EM conductors and simplified geology

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1818/91845_276ee39d54d89ad6_001full.jpg

CEO, Xavier Braud, commented: "We are glad to finally be able to release assay results from Eastmain, especially when they are great results. DHEM of historical holes at NW Zone had showed us many undrilled conductors. We drilled them and now we know that NW Zone is mineralised and presents the exact same characteristics as A, B and C Zones and poses as a new high-grade zone of the Eastmain deposit. This first pass scout drilling is wide spaced with drilling centres 100m apart and more. We have identified mineralisation over a large 400x 400m area and, more importantly, we have clearly identified two mineralised parallel horizons, both of which are proving to be gold bearing.

"Eastmain is delivering above expectations and our exploration methodology utilising electromagnetics to guide discoveries continues to be extremely successful. We have identified conductors over a strike length of 6km and, to date, we haven't drilled a single conductor which has not returned the right geology. Every target we drill bring more information and we are gradually unlocking the full potential of the Eastmain deposit.

We now have over 150 DHEM conductors in the system and we are systematically drilling them. The DHEM data from NW Zone shows strong undrilled off-hole conductors near our high-grade intervals. Follow up drilling will start as soon as we increase our drilling capacity with a third rig arriving in the second half of August."



Figure 2: Map view of the Eastmain project with historical and current high grade drill results and 2021 drilling pending assays with EM conductors and simplified geology.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1818/91845_276ee39d54d89ad6_002full.jpg

The NW Zone is located about 600m to the NW of the A Zone mineralised lens and camp infrastructure and can be accessed by a trail in summer. The mineralised horizon is associated with a strongly biotite, sericite, silica and carbonate altered mylonite located within deformed and altered ultramafic rocks. Sulphide content varies from 1-2% to up to 20% in sulphide veins, with xenoliths of enclosing rocks, often associated with quartz veins. There are also stringers and patches of sulphides. Garnet porphyroblasts are also observed in association with the more biotite altered rocks.

Main sulphides are pyrrhotite, chalcopyrite, pyrite and sphalerite. Visible gold was observed in holes EM21-143, EM21-146 and EM21-158.

The newly discovered Nisto trend at the NW Zone and A Zone is found between 100 and 200m deeper than the Mine Horizon. Mineralisation is hosted at the contact between strongly deformed and altered sediments (wackes and conglomerate) and ultramafics with stringers and patches of pyrrhotite and chalcopyrite. Garnet porphyroblasts are locally observed in association with the more biotite rich rocks.

The results in this release are a mix of standard 50g charge fire assays and metallic screen fire assays. The choice of method was based on geological observations with samples showing strong visual mineralisation assayed directly by metallic screen fire assays.

All coarse crush rejects from this set of results have been shipped to Australia to be re-assayed by PhotonAssay.

The 16,000 samples re-analysis of 2020 drilling rejects by PhotonAssay is progressing with samples at Minanalytical Perth and Kalgoorlie facilities.



Figure 3: Eastmain Project Long Section with existing resource, FLEM and DHEM conductors and drilling to date with additional high grade NW Zone intercepts.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1818/91845_276ee39d54d89ad6_003full.jpg

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 mineralisation 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. Benz has subsequently identified over 150 DHEM conductors over a strike length of 6km which is open in all directions.

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.

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.


Figure 4: Benz tenure over Upper Eastmain Greenstone Belt simplified geology.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1818/91845_276ee39d54d89ad6_004full.jpg

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: Drilling and assays data

Table 1: Drillholes collar information

Hole ID X_NAD83_Z18N Y_NAD83_Z18N Elevation Azimuth Dip Total Depth
EM21-143 698713 5798618 485 215 -57 567
EM21-144 698568 5799058 485 215 -75 477
EM21-145 698315 5799210 487 215 -60 333
EM21-146 698280 5799265 495 215 -60 297
EM21-147 698184 5799041 490 220 -55 225
EM21-148 698192 5799167 491 220 -55 240
EM21-149 698014 5799532 487 217 -55 223
EM21-150 698182 5799743 510 217 -55 201
EM21-151 698569 5798713 483 216 -60 657
EM21-152 699236 5798936 508 225 -75 637
EM21-153 699248 5798810 480 225 -80 618
EM21-154 699247 5799006 484 225 -75 675
EM21-155 698518 5798790 486 220 -60 585
EM21-156 698582 5799177 485 215 -75 507
EM21-157 698434 5799154 485 240 -58 471
EM21-158 698405 5799250 483 245 -59 648
EM21-159 698520 5799290 484 245 -65 450

Table 2: Significant assays

Hole ID From To Total Length Au g/t Zone
EM21-143 208.5 211.5 3.00 16.58 Zone A Mine Horizon
Including 210 211.5 1.50 32.8 VG*
EM21-144 304.95 307.25 2.30 0.30
Including 305.45 306 0.55 0.568
357 362 5 0.62 NW Zone Mine Horizon
Including 361.4 362 0.60 1.283
431.44 431.84 0.40 1.284
EM21-145 234.5 240.5 6.00 3.56 NW Zone Mine Horizon
Including 237 238 1.00 10.17
EM21-146 230.2 238 7.80 8.73 NW Zone Mine Horizon
Including 233 235 2.00 16.33 VG*
Including 236 237 1.00 32.56
EM21-147 91.4 92.4 1.0 3.22 NW Zone Mine Horizon
EM21-148 146.9 147.3 0.4 0.764 NW Zone Mine Horizon
185 185.5 0.5 0.734
EM21-149 69.6 70.6 1.0 0.574 Hillhouse
113.0 114.0 1.0 5.495 Mine Horizon
EM21-150 No significant results
EM21-151 206.0 207.0 1.0 0.696 Zone A west Mine horizon
403.0 403.4 0.4 0.356 Nisto trend
EM21-152 233.45 234.9 1.45 1.64
Including 233.45 233.75 0.3 6.54
592.0 593.5 1.5 0.42 Zone A ext Mine Horizon
EM21-153 216.4 217.4 1.0 0.82 Zone A
223.5 224.7 1.2 0.869
225.9 226.3 0.4 1.579
510.0 511.12 1.12 0.732 Mine Horizon
519.0 520.0 1.0 1.415 Mine Horizon
EM21-154 14.0 15.4 1.4 0.454 Zone A ext
253.0 254.5 1.5 0.358
535.5 535.9 0.4 0.376 Mine Horizon
EM21-155 164.0 164.9 0.9 2.176 Zone A west Mine Horizon
501.5 502 0.5 1.123 Nisto trend
511.1 511.5 0.4 0.907 Nisto trend
EM21-156 20.0 21.0 1.0 0.468 NW zone
159.3 159.8 0.5 3.795
165.0 165.4 0.4 0.317
369.8 374.2 4.4 0.713 Mine Horizon
417.0 423.0 6.0 0.735
Including 417.0 419.4 1.4 1.43
EM21-157 344.32 344.7 0.38 2.852 NW zone :
376.5 378.0 1.5 1.39 Mine Horizon
397.08 406.0 8.9 1.50 Nisto trend
Including 400.0 401.5 1.5 7.254 Nisto trend
EM21-158 284.8 291.35 6.55 3.11 NW Zone: Mine Horizon
*VG
Including 288.7 290 1.3 5.038
293.3 294.5 1.2 0.435 NW Zone: Mine Horizon
542.3 543.07 0.77 0.705 Nisto trend
EM21-159 269.9 270.3 0.4 0.33 NW Zone:
371 372.5 1.5 0.43 Mine Horizon
375 378 3 5.161 Mine Horizon
Including 375 376 1 14.97 Mine Horizon
426.1 426.55 0.45 0.633

Significant assays reported are assays >0.2g/t Au. Composites are calculated by weighted average allowing for up to 1m internal dilution

Table 3: Assays data

Hole number From To Length Sample Type Weight Gold g/t (Au)
EM21-143 67.5 69 1.5 Fire Assay 3.3 0.13
EM21-143 201 202.5 1.5 Fire Assay 3.24 0.195
EM21-143 208.5 210 1.5 Fire Assay 3.34 0.35
EM21-143 210 211.5 1.5 Fire Assay 3.57 32.8
EM21-143 410 411.5 1.5 Fire Assay 3.43 0.169
EM21-143 436 437 1 Fire Assay 2.38 0.221
EM21-143 452 453 1 Metallic sieve 2.44 0.111
EM21-144 63.39 63.9 0.51 Fire Assay 1.1 0.244
EM21-144 184.6 185.3 0.7 Fire Assay 1.52 0.245
EM21-144 290.15 290.83 0.68 Fire Assay 1.68 0.411
EM21-144 304.95 305.45 0.5 Fire Assay 1.16 0.207
EM21-144 305.45 306 0.55 Fire Assay 1.44 0.568
EM21-144 306 306.75 0.75 Fire Assay 1.83 0.201
EM21-144 306.75 307.25 0.5 Fire Assay 1.19 0.265
EM21-144 339 339.5 0.5 Fire Assay 1.17 0.118
EM21-144 355.75 356.3 0.55 Metallic sieve 1.42 0.162
EM21-144 357 358 1 Metallic sieve 2.4 1.031
EM21-144 358 359 1 Metallic sieve 2.02 0.623
EM21-144 359 360.4 1.4 Metallic sieve 4.17 0.466
EM21-144 361.4 362 0.6 Fire Assay 1.49 1.283
EM21-144 431.44 431.84 0.4 Fire Assay 0.86 1.284
EM21-145 47.3 48.7 1.4 Fire Assay 2.82 0.11
EM21-145 55 56.5 1.5 Fire Assay 3.08 0.174
EM21-145 60 60.5 0.5 Fire Assay 1.12 0.204
EM21-145 195 196.06 1.06 Fire Assay 2.2 0.156
EM21-145 225 226 1 Fire Assay 1.93 0.246
EM21-145 227 228 1 Fire Assay 2.08 0.533
EM21-145 231.2 232 0.8 Fire Assay 1.72 0.384
EM21-145 233 234.5 1.5 Metallic sieve 3.04 0.157
EM21-145 234.5 236 1.5 Metallic sieve 2.93 1.044
EM21-145 236 237 1 Metallic sieve 2.42 3.630
EM21-145 237 238 1 Metallic sieve 2.05 10.169
EM21-145 238 239 1 Metallic sieve 1.96 0.281
EM21-145 239 240.5 1.5 Metallic sieve 2.62 3.820
EM21-145 267.2 268.7 1.5 Fire Assay 3.05 0.113
EM21-145 268.7 269.6 0.9 Fire Assay 1.85 0.264
EM21-146 203 204 1 Fire Assay 2.24 0.117
EM21-146 228 229 1 Fire Assay 2.7 0.17
EM21-146 229 229.5 0.5 Fire Assay 1.32 0.12
EM21-146 230.2 231 0.8 Metallic sieve 1.94 0.63
EM21-146 231 232 1 Metallic sieve 2.13 1.76
EM21-146 232 233 1 Metallic sieve 2.24 0.21
EM21-146 233 234 1 Metallic sieve 2.69 15.78
EM21-146 234 235 1 Metallic sieve 2.64 16.88
EM21-146 235 236 1 Metallic sieve 2.06 0.17
EM21-146 236 237 1 Metallic sieve 2.5 32.56
EM21-146 237 238 1 Metallic sieve 2.18 0.21
EM21-146 241 241.5 0.5 Fire Assay 0.83 0.854
EM21-146 257.4 258 0.6 Fire Assay 1.52 0.293
EM21-147 91.4 92.4 1 Fire Assay 2.06 3.22
EM21-147 113 114 1 Fire Assay 2.21 0.211
EM21-147 134 135.2 1.2 Fire Assay 2.63 0.171
EM21-148 47.6 48.3 0.7 Fire Assay 1.73 0.202
EM21-148 146.9 147.3 0.4 Fire Assay 0.91 0.764
EM21-148 185 185.5 0.5 Fire Assay 1.04 0.734
EM21-149 65.3 66 0.7 Fire Assay 1.64 0.123
EM21-149 69 69.6 0.6 Fire Assay 1.43 0.132
EM21-149 69.6 70.6 1 Fire Assay 1.51 0.574
EM21-149 76 76.7 0.7 Fire Assay 1.63 0.123
EM21-149 113 114 1 Fire Assay 2.19 5.495
EM21-149 169 169.7 0.7 Fire Assay 1.28 0.367
EM21-149 187 187.5 0.5 Fire Assay 1.15 0.264
EM21-150 173 173.6 0.6 Fire Assay 1.52 0.207
EM21-150 175 176 1 Fire Assay 2.66 0.117
EM21-151 25.5 27 1.5 Fire Assay 2.75 0.128
EM21-151 205 206 1 Fire Assay 1.98 0.119
EM21-151 206 207 1 Fire Assay 1.82 0.696
EM21-151 207 208.5 1.5 Fire Assay 3.01 0.119
EM21-151 403 403.4 0.4 Fire Assay 0.82 0.356
EM21-151 403.4 403.9 0.5 Fire Assay 0.91 0.173
EM21-151 516 517 1 Fire Assay 2.36 0.118
EM21-151 522 522.5 0.5 Fire Assay 1.12 0.113
EM21-151 523.8 525 1.2 Fire Assay 2.81 0.169
EM21-152 233.45 233.75 0.3 Fire Assay 0.67 6.541
EM21-152 234.35 234.9 0.55 Fire Assay 0.94 0.708
EM21-152 427.5 428 0.5 Fire Assay 1.15 0.195
EM21-152 461.9 463 1.1 Fire Assay 2.87 0.121
EM21-152 555.3 557 1.7 Fire Assay 4.5 0.23
EM21-152 573 573.5 0.5 Fire Assay 1.15 0.129
EM21-152 592 593.5 1.5 Fire Assay 3.59 0.42
EM21-153 89.6 90.3 0.7 Fire Assay 1.29 0.293
EM21-153 90.3 90.9 0.6 Fire Assay 1.42 0.134
EM21-153 216.4 217.4 1 Fire Assay 2.4 0.82
EM21-153 217.4 217.75 0.35 Fire Assay 0.95 0.158
EM21-153 217.75 218.15 0.4 Fire Assay 1.22 0.297
EM21-153 219.3 219.85 0.55 Fire Assay 1 0.118
EM21-153 223.5 224.7 1.2 Fire Assay 2.46 0.869
EM21-153 225.9 226.3 0.4 Fire Assay 0.86 1.579
EM21-153 228 229 1 Fire Assay 2.28 0.311
EM21-153 308.52 309.34 0.82 Fire Assay 2.17 0.156
EM21-153 313.61 314 0.39 Fire Assay 1.08 0.101
EM21-153 322 322.35 0.35 Fire Assay 0.81 0.215
EM21-153 325.09 325.4 0.31 Fire Assay 0.83 0.144
EM21-153 326.2 326.73 0.53 Fire Assay 1.47 0.179
EM21-153 395.5 396 0.5 Fire Assay 1.09 0.17
EM21-153 510 511.12 1.12 Fire Assay 2.29 0.732
EM21-153 519 520 1 Fire Assay 2.07 1.415
EM21-153 520 520.45 0.45 Fire Assay 1.41 0.284
EM21-154 14 15.4 1.4 Fire Assay 3.13 0.454
EM21-154 253 254.5 1.5 Fire Assay 3.8 0.358
EM21-154 254.5 256 1.5 Fire Assay 3.61 0.134
EM21-154 516.6 516.9 0.3 Fire Assay 0.62 0.302
EM21-154 535.5 535.9 0.4 Fire Assay 1.11 0.376
EM21-154 551.5 551.8 0.3 Fire Assay 0.66 0.115
EM21-154 598.6 600 1.4 Fire Assay 3.6 0.103
EM21-154 600 600.9 0.9 Fire Assay 2.1 0.188
EM21-154 600.9 601.7 0.8 Fire Assay 1.79 0.23
EM21-154 601.7 602.5 0.8 Fire Assay 2.02 0.125
EM21-154 604.3 605 0.7 Fire Assay 1.51 0.107
EM21-155 63.55 64.5 0.95 Fire Assay 2.27 0.118
EM21-155 93.5 94.1 0.6 Fire Assay 1.4 0.128
EM21-155 135 135.55 0.55 Fire Assay 1.38 0.187
EM21-155 136.55 138 1.45 Fire Assay 2.95 0.165
EM21-155 148.7 149.1 0.4 Fire Assay 1.17 0.22
EM21-155 164 164.9 0.9 Fire Assay 2.64 2.176
EM21-155 378.8 379.2 0.4 Fire Assay 1.06 0.227
EM21-155 379.9 380.4 0.5 Fire Assay 2.16 0.159
EM21-155 501.5 502 0.5 Fire Assay 1.25 1.123
EM21-155 502 503 1 Fire Assay 2.46 0.195
EM21-155 504 505 1 Fire Assay 2.54 0.123
EM21-155 511.1 511.5 0.4 Fire Assay 0.9 0.907
EM21-155 531 532 1 Fire Assay 2.3 0.134
EM21-155 543 544.5 1.5 Fire Assay 3.77 0.21
EM21-155 546 547 1 Fire Assay 3.73 0.193
EM21-155 547 549 2 Fire Assay 3.43 0.22
EM21-155 550.5 552 1.5 Fire Assay 3.89 0.176
EM21-156 20 21 1 Fire Assay 2.56 0.468
EM21-156 21 22.5 1.5 Fire Assay 3.78 0.102
EM21-156 25.5 26.1 0.6 Fire Assay 1.38 0.102
EM21-156 26.5 27 0.5 Fire Assay 1.11 0.239
EM21-156 27 28.5 1.5 Fire Assay 3.6 0.152
EM21-156 37 38 1 Fire Assay 2.34 0.132
EM21-156 159.3 159.8 0.5 Fire Assay 1.17 3.795
EM21-156 165 165.4 0.4 Fire Assay 0.86 0.317
EM21-156 248.5 249 0.5 Fire Assay 1.14 0.258
EM21-156 369.8 370.8 1 Metallic sieve 2.25 0.612
EM21-156 370.8 372.2 1.4 Metallic sieve 3.33 1.409
EM21-156 372.2 373.2 1 Metallic sieve 2.26 0.342
EM21-156 373.2 374.2 1 Metallic sieve 2.15 0.212
EM21-156 416.07 417 0.93 Metallic sieve 2.02 0.179
EM21-156 417 418 1 Metallic sieve 2.26 1.922
EM21-156 418 419.4 1.4 Metallic sieve 3.55 1.084
EM21-156 419.4 420.3 0.9 Metallic sieve 1.76 0.128
EM21-156 420.3 421.5 1.2 Metallic sieve 2.55 0.167
EM21-156 421.5 423 1.5 Metallic sieve 3.09 0.438
EM21-157 50.93 52.3 1.37 Fire Assay 3.22 0.25
EM21-157 182.94 184.77 1.83 Fire Assay 4.02 0.157
EM21-157 209 210 1 Fire Assay 2.36 0.139
EM21-157 283.43 284.53 1.1 Fire Assay 1.91 0.105
EM21-157 293 293.68 0.68 Metallic sieve 1.31 0.244
EM21-157 301.64 302.64 1 Fire Assay 2.49 0.13
EM21-157 344.32 344.7 0.38 Fire Assay 0.94 2.852
EM21-157 347.16 348 0.84 Fire Assay 1.95 0.207
EM21-157 351 352.5 1.5 Fire Assay 3.31 0.168
EM21-157 376.5 378 1.5 Fire Assay 3.06 1.39
EM21-157 397.08 398.5 1.42 Metallic sieve 2.95 0.215
EM21-157 398.5 400 1.5 Metallic sieve 3.36 0.292
EM21-157 400 401.5 1.5 Fire Assay 3.13 7.254
EM21-157 401.5 403 1.5 Metallic sieve 3.31 0.646
EM21-157 404.5 406 1.5 Fire Assay 1.22 0.232
EM21-157 404.5 406 1.5 Duplicate 1.8 0.455
EM21-158 282 283.5 1.5 Fire Assay 3.2 0.13
EM21-158 283.5 284.8 1.3 Metallic sieve 2.75 0.181
EM21-158 284.8 286.1 1.3 Metallic sieve 2.74 3.78
EM21-158 286.1 287.2 1.1 Metallic sieve 3.03 3.991
EM21-158 287.2 288.7 1.5 Metallic sieve 4 2.39
EM21-158 288.7 290 1.3 Metallic sieve 3.08 5.028
EM21-158 290 291.35 1.35 Metallic sieve 2.98 0.687
EM21-158 291.35 292.35 1 Metallic sieve 2.46 0.217
EM21-158 293.3 294.5 1.2 Fire Assay 2.1 0.435
EM21-158 423 424.5 1.5 Fire Assay 3.52 0.174
EM21-158 516.7 518 1.3 Fire Assay 2.98 0.124
EM21-158 542.3 543.07 0.77 Fire Assay 1.69 0.705
EM21-158 603 604.5 1.5 Fire Assay 3.08 0.203
EM21-158 646 646.8 0.8 Fire Assay 1.94 0.145
EM21-159 138 139 1 2.06 0.24
EM21-159 264 265 1 1.97 0.2
EM21-159 269.9 270.3 0.4 1.08 0.33
EM21-159 342.9 343.5 0.6 1.65 0.123
EM21-159 364 365 1 2.37 0.12
EM21-159 365 366 1 2.71 0.12
EM21-159 371 372.5 1.5 3.57 0.43
EM21-159 375 376 1 4.23 14.97
EM21-159 376 377 1 4.40 0.29
EM21-159 377 378 1 2.55 0.22
EM21-159 381 382 1 2.62 0.11
EM21-159 413 413.4 0.4 1.09 0.12
EM21-159 419 420.5 1.5 4.02 0.27
EM21-159 426.1 426.55 0.45 1.07 0.633

All assays reported are Au>0.1g/t. When multiple duplicates of the same samples by different methods, best intercept is reported. N.B: All drillholes reported anomalous gold >0.1g/t.

Appendix 2: 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.
  • NQ size core drilling
  • Core cut in two equal halves with one half submitted for assays
  • Core length for individual samples was based on geological observations
  • No samples were less than 30cm (0.3m) in length
  • 3,600 samples submitted from 7,811m of drilling
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).
  • Triple tube NQ core drilling.
  • Hole depths vary between 201m and 675m
  • Core was oriented using downhole orientation tool
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.
  • Core recoveries were measured by comparing the length of core recovered against the length of drill rods used and recorded by the drilling contractor.
  • For the sampled intervals the core was cut in half and half of the core was sent for assays
  • Length of core sampled for individual assays was determined by the logging geologist following geological/mineralisation boundaries.
  • To ensure representativity, no intervals shorter than 30cm were sampled.
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.
  • All core was logged for
  • Lithology
  • Alteration
  • Mineralisation
  • Mineral species abundance
  • Veining
  • Structures
  • Both qualitative and quantitative logging was conducted
  • 100% of the core drilled has been logged
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.
  • Half core sampled
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.
  • Most samples were submitted for Gold assay by Fire assay and AA (Atomic Absorption) of a 50g pulverized sample with gravimetic determination if >10 g/t.
  • Samples where visual observations suggested potential high grade gold and samples with visible gold were submitted for metallic screen fire assays.
  • At this stage, no studies have been finalized on the repartition and size of the gold grains in the system, however visual observations of gold grains larger than 0.5mm suggest that fire assays should be considered a partial method at this stage
  • Coarse rejects samples will be analysed as duplicates using PhotonAssay
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 twinning of holes at this stage
  • All sampling protocols have been peer reviewed and all data is stored appropriately
  • No adjustments to assay data have taken place.
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.
  • All drillhole locations have been surveyed by handheld GPS with a typical accuracy of +/-4m
  • Downhole surveys were conducted using a Reflex Multishot Gyro or the Axis north seeking Gyro.
  • Grid: UTM NAD83 Zone 18N
  • Topographic control is cross-checked with a 2013 LIDAR survey
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.
  • Drilling targeted newly identified areas in the geological system. All drilling was oriented towards the SW. As some mineralisation at the project is seemingly dipping toward the NE the orientation of sampling should not introduce a bias in the samples.
Sample security
  • The measures taken to ensure sample security.
  • All samples were cut and prepared on site by company employees and contractors. Samples bags were sealed and transported to the laboratory directly from the sampling site by contractors.
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.
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.
  • See tables in Annexure 1
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.
  • Length weighting averages were produced using a 0.2g/t cut off and allowing for 1m internal dilution.
  • No top cuts applied.
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').
  • The exact geometry of the system is still not completely known.
  • Drillhole orientation and known structural setting suggest that drillholes intersected mineralisation close to perpendicularly meaning that downhole intervals are believed to be close to true width/thickness
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 half core 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.

Not for distribution to U.S. news wire services or dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91845

 
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