Mining Stock News: Benjamin Hill (CSE: BNN) Announces Drilling Program Discovers Porphyry Style Mineralization at Alotta, Copper-Gold-Molybdenum Project
Vancouver, British Columbia - November 28, 2023 (Newsfile Corp.) (Investorideas.com Newswire) Benjamin Hill Mining Corp. (CSE: BNN) (OTCQB: BNNHF) (FSE: 5YZ0) ("Company") is pleased to announce the completion of two inaugural diamond drill holes and the discovery of porphyry style mineralization at the Alotta copper-gold-molybdenum project in the west-central Yukon. The first two holes tested the south-central portion of an induced polarization, chargeability high with coincident copper and gold in soil anomalies. The drill program is proposed to continue in May 2024. The diamond drill and most camp equipment will remain on site over the winter. The next planned holes will focus on at least four areas of coincident copper, molybdenum and gold in soil geochemical anomalies that indicate the potential centers of porphyry mineralization.
Drill Holes ALT-23-001/002
Both holes exhibited multiple intrusive phases including intrusive breccias displaying strong biotite alteration, carbonate veining and pyrrhotite, pyrite, chalcopyrite and molybdenite mineralization as interstitial clots and stringers. The photo below is from ALT-23-001, at approximately 17-metre depth illustrates the shreddy brown biotite alteration coincident with interstitial and veinlet style mineralization. Table 1 provides the collar coordinates, orientation, and final depth for both holes.
Lorne Warner, President of Benjamin Hill Mining Corp., states: "I was on site during the drilling of both holes and observed most of the core. Disseminated and fracture-controlled mineralization in the form of pyrrhotite, pyrite, chalcopyrite and molybdenite mineralization was observed throughout both holes with total sulfide concentrations up to 5% over extensive core lengths. The exception being a quartz vein in hole ALT-23-002 with semi-massive pyrrhotite with traces of chalcopyrite. Both holes were terminated in mineralization, therefore casing was left in both holes to facilitate extending them this spring if required. When the drill program continues in May the company will focus on four large "Bull's Eye" areas of high copper, gold and molybdenum concentrations in soil samples coincident with geophysical anomalies."
Figure 2 below shows a plan view of chargeability results from the 2D IP-Res model overlain by gold-in-soil and magnetic susceptibility (RTP). The dashed polyline highlights the area of greatest interest for testing given the occurrence of favorable geochemical and geophysical anomalies. Figure # 1 also illustrates two proposed NQ diamond drill holes which are now completed. Proposed PDDH_001/002 are now completed as ALT-23-001/002 respectively.
Key Points about the Alotta Project:
- Similar geological setting to the Casino deposit intrusive complex. The Casino deposit as per Western Copper, June 22, 2021, news release announced a PEA outlining the deposit to host 2.17 billion tonnes of measured and indicated resources contains 7.4 billion lbs. of copper and 12.7 million ounces of gold. Insitu Gold/Copper/Molybdenum in-soil geochemical anomalies over 4.0 X 1.0 kilometers is larger than the current resource area of the Casino deposit.
- Magnetic depletion, High total potassium counts from a radiometric survey and Induced Polarization survey results coincides with anomalous geochemistry of gold/copper in soils indicating the occurrence of a large, porphyry related hydrothermal system.
- The first two drill holes both confirmed a large, multiphase, porphyry system, bearing copper and molybdenum mineralization. All split core samples will be analyzed by ALS Laboratories. Assay results are pending.
- Management of project by Archer Cathro and Associates, the same company responsible for previous Casino exploration. Archer Cathro, in consultation with Benjamin Hill geologists defined the targets for drill testing.
About Benjamin Hill Mining Corp.
Benjamin Hill Mining Corp. is a Canadian-listed junior gold exploration company focused on exploring and developing The Alotta project in Canadian Yukon Territory. The Alotta project is a porphyry copper-gold-molybdenum prospect, located 50 km south-east of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt.
Lorne Warner, P.Geo, and President of Benjamin Hill Mining Corp. is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.
On behalf of the Board of Directors
"Cole McClay", CEO Benjamin Hill Mining Corp.
Certain of the statements made and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek safe harbor.
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