1. Homepage
  2. Equities
  3. Canada
  4. Bourse de Toronto
  5. Benchmark Metals Inc.
  6. News
  7. Summary
    BNCH   CA08162A1049


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Musk Metals Commences Airborne Survey at Lawyers Properties Next to Benchmark Metals

12/21/2021 | 09:09am EDT

VANCOUVER - Musk Metals Corp. ('Musk Metals') ('Musk' or the 'Company') (CSE: MUSK) (OTC PINK: EMSKF) (FSE: 1I30) is pleased to announce it has retained Longford Exploration Services Ltd. to complete an Airborne Tri-Axial Gradiometer Survey.

The survey will cover its wholly owned Lawyers West and South claim blocks that cover approximately 15,469 acres, which are located in BC's Golden Horseshoe region and contiguous to Benchmark Metal's 'Lawyers' Gold and Silver project.

Musk's airborne survey will be conducted using a manned helicopter equipped with specially designed GEM Systems GSMP 35A Airborne Potassium Vapor high resolution magnetometers mounted on a non-magnetic stinger in a tri-axial array

Musk's airborne survey will highlight potential anomalies along the Western boundary of Benchmark Metals as well as the Western portion that is situated between TDG Gold Corp's 'Baker' and 'Shasta' mines and along strike with the 'Kemess' mine further to the southeast that hosts 2.7 Moz of gold equivalent. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Properties.


Benchmark Metals announced on December 9th, 2021, the completion of a bought deal financing for $40,266,720 and that Yamana Gold Inc. participated in the offering. As a result, Yamana Gold Inc. will own approximately 3.99 per cent of Benchmark on a non-diluted basis providing Benchmark with over $50-million available to explore and advance its neighboring Lawyers gold-silver project.

Benchmark Metals hopes to establish a five-million-plus-ounce resource reporting drill intercepts of 2,360 g/t silver and 11.30 g/t gold over a 1 meter interval as well as 1.44 g/t gold equivalent over 102 meters in early 2020 followed by the discovery of the new 'Marmot Zone' announced on August 27th 2020, that contains mineralized structures broad zones of alteration, veining, and sulphide mineralization, returning samples of up to 61.3 g/t gold and 3,890 g/t silver.

Musk Metals CEO and Director, Nader Vatanchi states, 'Recent strategic investments by major gold producer Yamana in the area bodes well for our adjacent properties and active exploration. This airborne survey will be combined with our compilation of historic work to design an upcoming 2022 exploration program. We are bullish on gold prices for 2022 and find confirmation of our sentiment with recent investments in the neighboring lawyers camp.'

Musk is planning a complimentary 2022 exploration program on its three claim blocks to follow up on the this airborne survey and further define magnetic targets as well as the mobilization of crews to conduct a sampling program to test outcrops and soil geochemistry aimed at identifying high priority drill targets.

Throughout 2021 Musk completed a compilation of historic work and available public information on the Lawyers North, East and West claims. This compilation combined with the data from the airborne survey will be used to plan a potential follow up field program that will be designed to complement historic work and recent discoveries in the area. The field program will be focused on geologic mapping and prospecting the property for highly prospective and mineralized areas and may include geochemical surveying. Samples will be taken from mineralized areas and analyzed for precious metals content shortly after field work is completed.

About Musk Metals Corp.

Musk Metals is a publicly traded exploration company focused on the development of highly prospective, discovery-stage mineral properties located in some of Canada's top mining jurisdictions. The current portfolio of mineral properties exhibit favorable geological characteristics in underexplored areas within the prolific 'Electric Avenue' pegmatite field of northwestern Ontario, the 'Abitibi Lithium Camp' of southwestern Quebec, the 'Golden Triangle' district of British Columbia, the Mineral Rich 'Red Lake' mining camp of Northwestern Ontario and the 'Chapais-Chibougamau' mining camp, the second largest mining camp in Quebec, Canada.


Tel: 604-717-6605

Email: info@muskmetals.ca

Web: www.muskmetals.ca


This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events, or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the intended use of proceeds of the Offering and other matters regarding the business plans of the Company. The forward-looking statements reflect management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements including that the Company may use the proceeds of the Offering for purposes other than those disclosed in this news release; adverse market conditions and other factors beyond the control of the Company. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include general market conditions and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
BENCHMARK METALS INC. -4.94% 0.77 End-of-day quote.-28.70%
MUSK METALS CORP. 0.00% 0.055 End-of-day quote.-31.25%
YAMANA GOLD INC. -1.04% 6.67 End-of-day quote.25.38%
05/13Benchmark Metals Advances Gold-Silver Project with Technical and Permitting Work Toward..
05/12Benchmark Metals Inc. Advances Gold-Silver Project with Technical and Permitting Work T..
05/12Benchmark Advances Gold-Silver Project with Technical and Permitting Work Towards a Min..
05/02Benchmark Drills 57.00 Metres of 2.52 gt Gold Equivalent Contributing Additional Gold a..
04/29Benchmark Metals Reports new Results from Infill, Expansion Drilling at Dukes Ridge Dep..
04/29Benchmark Metals Inc. Announces New Results from Infill and Expansion Drilling at the D..
04/29Benchmark Drills 57.00 Metres of 2.52 g/t Gold Equivalent Contributing Additional Gold ..
04/27Benchmark Metals Up 4.4% after Reporting 93% Gold Recovery at Lawyers Gold-Silver Proje..
04/27Benchmark Achieves 93% Gold Recovery and Confirms Strong Precious Metals Results Toward..
04/27Benchmark Achieves 93% Gold Recovery and Confirms Strong Precious Metals Results Toward..
More news
Sales 2021 - - -
Net income 2021 -4,76 M -3,71 M -3,71 M
Net cash 2021 34,1 M 26,6 M 26,6 M
P/E ratio 2021 -29,6x
Yield 2021 -
Capitalization 159 M 124 M 124 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 96,7%
Duration : Period :
Benchmark Metals Inc. Technical Analysis Chart | BNCH | CA08162A1049 | MarketScreener
Income Statement Evolution
Mean consensus BUY
Number of Analysts 2
Last Close Price 0,77 CAD
Average target price 2,25 CAD
Spread / Average Target 192%
Managers and Directors
John Williamson Chief Executive Officer & Director
James S. Greig President & Non-Independent Director
Sean Richard William Mager Chief Financial Officer, Secretary & Director
Toby Robert Pierce Independent Director
Michael B. Dufresne Independent Director
Sector and Competitors
1st jan.Capi. (M$)
BHP GROUP LIMITED13.69%167 792
RIO TINTO PLC11.39%113 026
GLENCORE PLC32.64%80 919
GRUPO MÉXICO, S.A.B. DE C.V.14.72%40 129