- Benz Mining (TSXV:BZ/ASX:BNZ) discovered a new ultra-high-grade gold zone beneath the historic Hibernian mine at its Mt Egerton project in Western Australia, intersecting a highlight of 7 metres at 223 grams per ton of gold
- The pure-play gold exploration company is advancing projects in Quebec and Australia
- Benz Mining stock last traded at C$2.63 and has added 592.11 per cent year-over-year
Benz Mining (TSXV:BZ/ASX:BNZ) discovered a new ultra-high-grade gold zone beneath the historic Hibernian mine at its Mt Egerton project in Western Australia, intersecting a highlight of 7 metres at 223 grams per ton (g/t) gold.
The discovery, now known as the Kilkenny zone, successfully extended Hibernian’s geological setting, which is marked by oblique shear zones that cause dilation and veining within a mafic host rock, representing a well-known structural trap for high-grade orogenic gold. According to Tuesday’s news release, historical drilling at Hibernian yielded up to 9 m at 107.2 g/t gold.
Benz will now turn its attention to further drill testing at Kilkenny, mapping and testing additional targets along the Hibernian structural corridor, including the Galway prospect, as well as mapping on the Mako-Gift-Trading Post cluster, a potentially large-scale cluster of prospects about 2 km east of the Hibernian mine, where extensive gold and base-metal anomalies in soils, rock chips and shallow drilling led to intercepts up to 17 m at 6.8 g/t gold.
Concurrently, the company remains focused on its flagship Glenburgh project, located about 170 km to the southwest, which leadership believes to hold multi-million-ounce potential, anchored by an 18-20 km mineralized corridor prospective for both open-pit and underground mining.
Management commentary
“What is most encouraging about the Kilkenny discovery is that it confirms the structural framework our team has been developing at the Mt Egerton Goldfield,” Mark Lynch-Staunton, chief executive officer of Benz Mining, said in a statement. “The mineralization occurs within the predicted dilation position beneath the Hibernian mine, which gives us confidence that the geological model is working.
The same geological team that unlocked the exploration potential at our flagship Glenburgh project is now applying that approach at Mt Egerton. While Glenburgh remains our primary focus, we see the Mt Egerton Goldfield as a highly underexplored gold district where modern structural interpretation is beginning to reveal new opportunities.
From a strategic perspective, we view Mt Egerton as a complementary high-grade satellite opportunity to Glenburgh. Importantly, large parts of the Mt Egerton Goldfield remain effectively untested, with more than 20 kilometres of prospective strike identified across the district, which means the discovery potential across the district remains significant.”
About Benz Mining
Benz Mining is a pure-play gold exploration company advancing projects in Quebec and Australia. The company seeks to differentiate itself through geological expertise and leading-edge techniques, including high-metamorphic terrane exploration, to grow its existing resource base.
Benz Mining stock (TSXV:BZ) last traded at C$2.63 and has added 592.11 per cent year-over-year.
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