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    BZ   CA08345Q2080

BENZ MINING CORP.

(BZ)
Delayed Bourse de Toronto  -  03:41 2022-08-11 pm EDT
0.4950 CAD   +26.92%
08/01Benz Mining Corp. - RUBY HILL WEST DISCOVERY RETURNS 26.4m AT 1.01% Li2O FROM 7.4M INCLUDING 3.7m AT 2.7% Li2O
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08/01Benz Mining Confirms Grade, Thickness of Mineralization at Quebec Lithium Project; Shares Slump 6%
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07/31BENZ MINING : Ruby Hill West Discovery Returns 26.4m at 1.01% Li2o
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Benz Mining - Copper Sulphide Mineralisation at Michel, 5km along Strike from Eastmain

07/05/2022 | 09:45am EDT

Toronto - Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) (the Company or Benz) is pleased to report the observation of chalcopyrite (a copper bearing sulphide) mineralisation associated with quartz veining in the drilling recently completed at the Michel prospect, 5km to the northwest of the Eastmain Mine, along strike from the mine and within the Upper Eastmain Greenstone Belt.

CEO, Xavier Braud, commented: 'After the successful 2021 drill program identified substantial mineralisation around the existing resource, we used the 2022 drill program to scout out regional targets whilst we waited for assay results. Drilling our identified EM conductors at Michel has thrown up a nice surprise with the discovery of strong chalcopyrite mineralisation with quartz veins and alteration. We look forward to reporting the analytical results when they are available.

'We, at Benz, continue with our strategy of delivering value from discovery of all commodities the Upper Eastmain Greenstone Belt has to offer. We now have gold, lithium, copper, and we have not yet started exploring for nickel and other base metals, which we know can be present in Archean Greenstone Belts.'

Michel Prospect

The Michel prospect is located approximately 5km to the northwest of the Eastmain Mine Portal along the same gold-rich trend.

In 2010, Eastmain Resources drilled a gold occurrence coincident with a VTEM anomaly at the extremity of a felsic intrusion. Drilling was directed by surface observations with soil anomalies and gold in rock samples (up to 2.2g/t gold in a sheared granodiorite), close to the drilling.

Three holes were drilled with two intercepting mineralisation.

Two of the holes drilled (same collar, EM10-12 and EM10-13) intersected significant gold anomalies throughout the mafic sequence associated with sulphide (pyrrhotite, pyrite and chalcopyrite) bearing quartz veins and associated sericite+ chlorite alterations hosted by gabbro and basalt flow breccias.

About Benz Mining Corp.

Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) brings together an experienced team of geoscientists and finance professionals with a focused strategy to unlock the immense mineral potential of the Upper Eastmain Greenstone Belt in Northern Quebec, which is prospective for gold, lithium, nickel, copper and other high-value minerals. Benz is earning a 100% interest in the former producing high grade Eastmain gold mine, Ruby Hill West and Ruby Hill East projects in Quebec and owns 100% of the Windy Mountain project.

At the Eastmain Gold Project, Benz has identified a combination of over 380 modelled in-hole and off-hole DHEM conductors over a strike length of 6km which is open in all directions (final interpretation of some of the conductors still pending).

In 2021, Benz confirmed the presence of visible spodumene in a pegmatite at the Ruby Hill West Project, indicating lithium mineralisation which Benz intends to further explore in 2022.

This announcement has been approved for release by the Board of Directors of Benz Mining Corp.

Contact:

Paul Fowler

Tel: +1 416 356 8165

Email: info@benzmining.com

Forward-Looking Information

Certain statements contained in this news release may constitute 'forward-looking information' as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 - - -
Net income 2022 -12,6 M -9,91 M -9,91 M
Net cash 2022 2,78 M 2,18 M 2,18 M
P/E ratio 2022 -6,47x
Yield 2022 -
Capitalization 54,7 M 42,9 M 42,9 M
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees -
Free-Float 95,8%
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Managers and Directors
Xavier Braud CEO & Head-Corporate Development
Simon Sharp Chief Financial Officer
Evan Alexander George Cranston Executive Chairman
Nicholas Tintor Non-Executive Director
Mathew O’Hara Non-Executive Director
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