- Benchmark Metals Inc. (BNCH) has announced an update for work on the Lawyers Gold-Silver Project in British Columbia
- It will complete the feasibility study and start preparing the environmental assessment regulatory filings alongside the First Nations in the next year
- A preliminary economic assessment is nearly done with results out later this month
- Ongoing environmental baseline studies are underway to support an economic assessment application
- Benchmark Metals Inc. (BNCH) is up 5.17 per cent trading at $0.61 per share as of 4:14 p.m. ET
Benchmark Metals (BNCH) has updated progress on a preliminary economic assessment and feasibility study for the Lawyers Gold-Silver Project in B.C.
The company stated it plans on delivering the feasibility study and start preparing the environmental assessment regulatory filings alongside the First Nations in the next year.
“The delivery timeline is now clear, and Benchmark is of the firm belief that the [preliminary economic assessment], followed by the upcoming [feasibility study], has the potential to position the company as a major producer of precious metals into the future and deliver value to shareholders, First Nations and local communities,” John Williamson, CEO and Chairman of Benchmark, said.
Benchmark also shared it has almost completed a preliminary economic assessment for the Lawyers Project and will announce the results sometime this month. The updated financial results incorporate a recently expanded mineral resource estimate and a revised mine production schedule.
“We are very excited about the near-term completion of the [preliminary economic assessment] to demonstrate the robustness of the project that benefits from a de-risked [resource estimate] with 97 per cent of the open pit resource… compact footprint with straightforward industry-standard processing, facilities, and equipment sizing,” Ian Harris, Benchmark’s Vice President of Engineering, said.
On top of this work, the company stated its ongoing environmental baseline studies are underway to support an economic assessment application. Also, geochemical and hydrogeological studies have started, and Benchmark expects completion of all environmental baseline studies by its third financial quarter.
After the environmental baseline studies have been completed, the company expects to start the environmental assessment process planning and application preparation phase in mid-2024.
Benchmark Metals Inc. (BNCH) is up 5.17 per cent trading at $0.61 per share as of 4:14 p.m. ET.