Benz Mining Corp (ASX:BNZ) identifies sulphides and quartz veining at Placer Lake

• Benz Mining Corp (BNZ) sees its first pass drilling at Placer Lake return several zones of alteration and mineralisation consistent with gold mineralisation
• Drilling returned sheared and altered volcanics, plus felsic intrusions with associated sulphides, including pyrrhotite and chalcopyrite
• While assay results remain pending, the company says this is “already an outstanding result,” with historic records showing up to 8.3 grams of gold per tonne and 2.7 per cent copper previously unearthed
• The company says it will continue to work its way systematically through a large gold system with untested electromagnetic conductors and high-grade gold occurrences spread over 10 kilometres of strike
• Benz Mining Corp is up 3.45 per cent, trading at 60 cents

Benz Mining Corp (BNZ) has seen its first pass greenfield drilling at Placer Lake in eastern Canada return several zones of alteration and mineralisation consistent with potential gold mineralisation.

Drilling returned sheared and altered volcanics and felsic intrusions with associated sulphides. This included pyrrhotite and chalcopyrite, corresponding to electromagnetic anomalies detected in the ground survey conducted in 2021 over this area.

Benz CEO Xavier Braud said the company is delighted with the encouraging results received from first pass drilling at the Placer Lake prospect.

“Placer Lake is still very much a greenfield area, so to have intersected the right geology in the first holes we drilled into untested conductors is very pleasing,” he said.

“Whilst assay results remain pending, this is already an outstanding result especially when we know from historical records that there is up to 8.3 grams of gold per tonne and 2.7 per cent copper in outcrop in the area.

“So many companies go and drill geophysical anomalies to only find ‘red herrings’. Benz hasn’t had a single false positive to date.

“So far, electromagnetics has not failed us in the Upper Eastmain Greenstone Belt. Once again, we have proven that our targeting method is extremely well suited to the style of mineralisation seen at Eastmain.”

The company said it will continue to work its way systematically through a large gold system with untested electromagnetic conductors and high-grade gold occurrences spread over 10 kilometres of strike.

Placer Lake is an area 2.5km north of the existing Eastmain Mine in Quebec, eastern Canada.

Benz Mining Corp was up 3.45 per cent, trading at 60 cents at 2:50 pm AEDT.