(MENAFN - Baystreet.ca)
Markets the world over were catching their collective breaths on Monday, after holding those breaths over the weekend due to suspense involving the likelihood of a Sino-American Trade Deal.
But Edmonton-based miner Benchmark Metals Inc. (TSX-Venture:BNCH) was having none of the air of caution, revealing soon after trading started drill results from the Dukes Ridge Zone at the Lawyers Gold & Silver Project, located in the Golden Triangle region of British Columbia.
Drill-holes intersected wide, bulk-tonnage intervals of near one gram per ton (g/t) gold equivalent and narrower intervals of high-grade gold-silver mineralization. The drilling has expanded the resource area and indicates that the mineralization is open along strike and down-dip.
CEO John Williamson commented, "The new drill results provide bulk tonnage drill intercepts that envelope high-grade gold-silver veins from surface. These results will significantly expand the overall size of the Dukes Ridge Zone that remains open for additional step-out drilling in 2019.
'This, in combination with results of previous and planned drilling at the Cliff Creek, Dukes Ridge and Phoenix mineralized zones, is leading to a significant increase in the existing estimate of mineral resources at the Lawyers Project.'
Shares spiked 4.5 cents, or 24.3%, as morning became afternoon on Monday, to 23 cents, on startling volume of 1.1 million shares.