Gold price set for biggest weekly jump in 13 months on haven demand
The precious metal has surged around 30% so far this year, supported by healthy central bank buying.
Lawyers Gold Silver Project Phoenix Zone 2018 Drill Results
Benchmark Metals (TSXV: BNCH; US-OTC: CYRTF) has expanded the Phoenix zone at its Lawyers gold-silver project in B.C.’s Golden Triangle after intersecting gold and silver mineralization in step out drilling grading as high as 11 grams gold per tonne and 819 grams silver over 4 metres from 69 metres downhole.
Other highlights included 6.15 grams gold and 124.37 grams silver over 4 metres from 60 metres downhole including 21.8 grams gold and 340 grams silver over 1.14 metres from 63 metres downhole as well as 1.36 grams gold and 172.3 grams silver over 4.5 metres from 9 metres downhole.
The company drilled 730 metres across seven holes along strike and down dip of Phoenix to the south east on the Lawyers trend. Based on its drilling, the company believes the mineralization it intersected extends at least 175 metres along strike and is open at depth below 50 metres from surface.
The company intends to follow up on these initial drill results with further drilling at Phoenix in 2019
Cheni Gold Mines briefly mined Phoenix in the early 1990s. Historical records indicate the company milled 4,394 tonnes, producing more than 6,700 oz. gold and more than 296,000 oz. silver at 38.56 grams gold and 1,700 grams silver.
In June 2018, Benchmark tabled a maiden resource estimate for Lawyers. The project contains 550,000 inferred tonnes grading 4.51 grams gold and 209.15 grams silver, or 6.69 grams gold equivalent, for 80,000 oz. gold and 3.7 million oz. silver at its Cliff Creek North zone as well as 58,000 inferred tonnes grading 4.3 grams gold and 139.13 grams silver, or 5.75 grams gold equivalent, for 8,000 oz. gold and 260,000 oz. silver at its Duke Ridge zone.
This story first appeared on The Northern Miner
