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Benz Mining Reports Multiple EM Conductors over 2km at Southern Anomalies with Sulphide Intersected

May 19, 2022

Benz Mining Corp. (TSXV: BZ) (ASX:BNZ) (the Company or Benz) is pleased to provide an update on its recently completed exploration activities on a 2km x 2km portion of the Southern Anomalies trend. The Southern Anomalies are a zone of strong and extensive VTEM anomalies identified during the survey flown in 2005. Located 3.5km south of the Eastmain Mine portal, the anomalies belong to an area of the greenstone belt previously mapped as volcanics in a zone covered by glacial till. 

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Figure 1: Southern Anomalies with FLEM loop contour, gold in soils anomaly over regional 2005 VTEM survey
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CEO, Xavier Braud, commented: 

"The Southern Anomalies FLEM conductors are significant on multiple levels:

  1. they underline multiple geological environments which are all prospective in their own right;
  2. they cover a 2km x 2km zone open along strike on both sides with more VTEM anomalies not yet followed up by FLEM both to the SE and the NW;
  3. they open up an entirely new part of the Upper Eastmain Greenstone Belt broadly parallel to the Eastmain Mine stratigraphy of which Benz controls. A FLEM grid covering about 2km x 2km was surveyed earlier this winter. This area also has multiple element soil anomalies. 

"Our drill program intersected multiple horizons of sulphide (pyrrhotite, pyrite) mineralization, some with associated quartz veining and as dissemination, veins and bands. We also hit a significant amount of polygenic and monogenic conglomerates with sulphide mineralization and silicification highlighted by the presence of tourmaline, carbonate and sericite. We do not know yet how significant those results will be, and we are eagerly waiting for the analytical results. 

"Benz continues to systematically explore the region, combining technology and lateral thinking to unlock all the value an underexplored greenstone belt has to offer. The list is lengthening by the day, several gold discoveries along strike of the Eastmain deposit, a lithium pegmatite discovery at Ruby Hill West, and multiple geophysical and geochemical anomalies yet to be tested.

"We don't know what the future holds for Benz but judging from the past 18 months, it's pretty safe to say that more discoveries await."

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Figure 2: Southern Anomalies FLEM conductors with FLEM loop outline and gold in soils anomaly over regional 1VD magnetics

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Figure 4: Southern Anomalies, EM22-264, silicified conglomerate with disseminated sulphides in the matrix and fuchsite altered blocks
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Figure 5: Southern Anomalies, Hole EM22-261 369m sulphide mineralisation in a carbonate altered, silicified metasediment

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The ground survey was conducted between January 25th and February 9th 2022 and consists of 49.10 line-km of TDEM data acquired from a single surface loop. Acquisition and interpretation were completed by TMC geophysics and results were received at the end of February. 

The EM anomalies defining six of the seven interpreted conductor axes were modelled. Each anomaly was then modelled by a single conductor in the form of a thin plate having its location and main attributes optimized to the associated survey's line data (line to line analysis).

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Figure 6: Southern Anomalies FLEM conductors, drillholes traces, and schematic interpreted government geology
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There are three main sub-parallel anomalous corridors oriented about N110°:

North Horizon: The latter is characterized by the axes STDEM-1 and STDEM-3 which are interpreted to outline the same anomalous horizon/trend locally interrupted over 300 m when crosscut by NNE striking faults. The associated conductive source(s) appear(s) better defined beneath 100 m of vertical depth and are relatively continuous with moderate apparent dips to the north northeast.

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Figure 7: Southern Anomalies, Hole EM22-257 silicified metasediment with sulphide veining dominated by pyrrhotite and pyrite and traces sphalerite and chalcopyrite (STDEM-3)
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Figure 8: Southern Anomalies, Hole EM22-261, 589m deformed conglomeratic quartz rich metasediment with sulphide silica alteration, minor quartz and carbonate veins
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Central Horizon: In the middle part of the grid, the axes STDEM-2, STDEM-4, STDEM-5 and STDEM-6 emphasizing a group of conductors with limited continuities and that may have developed within the same anomalous horizon. The associated conductive sources are relatively small and with moderate apparent dips to the north northeast. 

South Horizon: The axis of anomaly STDEM-7 highlights a very continuous conductor, laterally and at depth, with moderate apparent dips to the north northeast. The associated conductive target, or group of closely spaced conductive sources, is deeply seated, and lies immediately to the north of a thick highly magnetic band of rocks. The western modelled plates are coincident with a deep-seated mag feature that may represent an intrusion.

A winter drill campaign was planned to explain these conductors. Once all the required permits were obtained, drilling started on the 16th of March 2022 and ended on 14th of May 2022.

A total of 6,349m were drilled in 13 holes.

The main geological units encountered were various metasediments, from conglomerates to quartzites intruded by ultramafic to mafic intrusions. Within the metasediments large zones of alteration with disseminated and veins of sulphides were observed. Sulphide exhalites were intersected in several holes explaining some of the conductors.

In the Southern STDEM -7 anomalies, ultramafic rocks are more abundant and are locally sulphide bearing and strongly altered and sheared. They also intrude a sedimentary sequence with local sulphides, alteration and some exhalite bands. Volcanic rocks were rarely intersected. 

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