Benz Mining Corp. announced a Mineral Resource Estimate (MRE) update on the Eastmain Project in Quebec, Canada. The Updated MRE has been possible following an extensive 2021 drilling campaign on the Eastmain Mine Shear Zone within the Eastmain Project in James Bay, Quebec.

Eastmain Gold Project Introduction. The Eastmain Gold Project is situated on the Upper Eastmain Greenstone Belt in Quebec, Canada. The historical Eastmain Mine Gold Deposit consisted of three high-grade mineralized zones which from east to west are the A, B and C Zones.

The spatial distribution of gold grades in the Zones suggests the presence of several mineralized shoots, showing steep plunges on the Mine Series deformation plane. Gold mineralization occurs in a strongly altered and deformed horizon (1 to 10 m thick) affecting different rock types, however, always in spatial association with an ultramafic intrusion. The mineralization consists of quartz veins with massive to semi-massive sulphide veins and veinlets in a mylonite zone.

The sulphides are also in disseminations and patches. Gold occurs as free grains of various sizes (1 to 8 mm) commonly in the borders of pyrrhotite, pyrite or sphalerite or in quartz veins. The presence of these sulphide veins makes it amenable to detection using electromagnetic techniques.

The high strain deformation zone associated with the mineralization has a northwest trend and dips 40o to 50o to the northeast as mineralized shoots likely separated by northeast trending late faults. Zones D and E were discovered using ground TDEM surveys and DHEM of almost all the completed drill holes. The percentage of sulphides is variable, and gold occurs mostly in the sulphide rich shear zones and in quartz veins in a variety of rock types and environments, including veins with albite- carbonate-tourmaline in an older deformed tonalite at Zone E and a younger granodiorite to the northeast of all the Zones.

Mineralization starts at surface with an exploration decline running through A and B Zones, from which approximately 118,000 tonnes of mineralized material were extracted grading 10.5 g/t gold and subsequently processed with a 95% recovery. The deepest drill hole has intersected visible gold at approximately 900 m vertical from surface, which indicated the prospective depth of the deposits. The identified high-grade mineralized shoots remain open along strike and at depth.

The Company completed 51,652 m consisting of 92 diamond drillholes on the Eastmain Project in 2021 to focus on updating the previous MRE. In 2020, 12 diamond drill holes for 7,104 m were completed to test the electromagnetic anomalies, including eight holes for 4,404 m used in this MRE. Nine holes from 2022 were drilled in Zone E and Zone NW for 4,809 m. Overall, a total of 652 diamond drill holes for 174,108 m of drilling were completed on the Eastmain Mine trend, including 383 holes for 103,444 m being incorporated into the current MRE.

The May 2023 Eastmain Gold Project MRE has been estimated at 621 koz Inferred and 384 koz Indicated gold at respective grades of 5.1 and 9.0 g/t Au. This MRE is an update from the previously reported NI 43-101 compliant MRE (2019) of 236.5 koz indicated and 139.3 koz of inferred at respective grades of 8.19 g/t Au and 7.48 g/t Au on the Project. The MRE is being reported in accordance with NI 43-101 and JORC 2012 and is effective as of 24 May 2023.

Benz engaged International Resource Solutions of Australia and P&E Mining Consultants Inc. of Canada to prepare an MRE for the Eastmain Gold Project.