Benz Mining Corp (ASX:BNZ) Unveils High-Grade Gold Discovery at Glenburgh
High-Grade Gold Discoveries
Benz Mining Corp has reported initial results from its maiden drilling program at Zone 126 of the Glenburgh Gold Project. Notable intercepts include 11m at 19.9g/t gold from 274m, 5m at 10.2g/t gold from 222m, and 4m at 12.2g/t gold from 319m. These findings highlight the presence of a significant new high-grade gold lens approximately 80m down plunge from previously identified mineralisation.
Validated Targeting Model
The drilling at Zone 126 has confirmed Benz’s initial structural interpretation, revealing a previously unrecognised NE plunge in the mineralised system. This refined model marks the first application of Benz’s updated targeting approach at Glenburgh, opening the entire 18km mineralised corridor to new fold plunge targets and suggesting substantial discovery potential.
Future Exploration and Mapping
Advanced surface mapping is underway, utilizing extensive outcrop exposures to conduct detailed geological assessments. Early results indicate visible NE fold geometries at the surface, which will aid in identifying the next round of high-potential drill targets. Benz is well-positioned to explore a larger mineralised system with significant upside.
Executive Comments
CEO Mark Lynch-Staunton stated, “We are absolutely thrilled with the results of our maiden drilling program at Zone 126. Not only have we hit one of the highest ever gold intercepts on the entire project to date in our maiden program, but more importantly, we have confirmed our concept that completely turns the structural understanding of the Glenburgh Gold Project on its head. This extension is a significant high-grade gold discovery. It’s the first time this gold deposit has been drilled with our refined targeting approach, and the results speak for themselves.”
Shareholder Update
Benz Mining has agreed to issue a total of 8,000,000 options to certain consultants, under its Omnibus Equity Incentive Compensation Plan. The options have exercise prices of C$0.45 and C$0.90, expiring on 2 April 2028, in accordance with TSX Venture Exchange policies.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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