Benjamin Hill Announces Target Areas for Drill Testing at Alotta Project, Yukon

Rhea-AI Summary

Benjamin Hill Mining Corp. announces the prioritized target areas for drill testing at the Alotta project in Yukon. The company plans to complete up to 5 drill holes totaling 2,500 meters to test high priority geochemical/geophysical anomalies for porphyry-style mineralization. The Payout and Severance Zones show significant surface mineralization, while the Alimony and Commission Targets present molybdenum-gold and gold-copper-molybdenum soil anomalies, respectively. The Alotta property is located near Western Copper and Gold's Casino deposit, a major copper-gold mining project. Western Copper and Gold recently upsized their bought deal public offering, indicating strong investor interest in the region.

Vancouver, British Columbia--(Newsfile Corp. - April 18, 2024) - Benjamin Hill Mining Corp. (CSE: BNN) (OTCQB: BNNHF) (FSE: 5YZ0) ("BNN" or the "Company") is pleased to announce the company has prioritized the initial target areas for drill testing this spring on the Alotta project. Currently, the company is proposing to complete up to 5 drill holes for a total of 2,500 metres as part of the continuation of the fall 2023 diamond drilling program that paused in November for the winter season.

The proposed holes will focus on several high priority and undrilled tested coincident geochemical/geophysical anomalies along a four-kilometre trend. Archer Cathro and Benjamin Hill have created a preliminary drill plan for the 2024 Alotta field program, to test for porphyry-style mineralization on the property. The strategy is designed to test the best drill targets based on merit. These areas are situated in closer proximity to the core area of coincident soil and geophysical anomalies with previous rock sampling confirming the occurrence of copper and gold mineralization.

Lorne Warner, President and P.Geo for Benjamin Hill, states, "We are very optimistic that this year's drilling program will continue to or exceed last year's drill results. In 2023 we started the first ever drilling program on the property, completing two drill holes resulting in the discovery of gold, copper and molybdenum porphyry style mineralization."

Exploring Payout and Severance Zones
The two primary targets on the property are the Payout and Severance Zones, located in the west-central and east-central parts of the property. These two zones have significant surface mineralization, which comprise highly anomalous gold, copper and molybdenum values from rock and soil samples. These targets represent the areas of the property with significant (>1 g/t gold) rock values on surface.

For preliminary drilling, a total of four holes are recommended to test surface mineralization and geophysical anomalies at depth. At both targets, the first hole is designed as a shallow angle hole to test the extent of mineralization directly beneath the prospective area, while the second is steeper to test for deeper mineralization and corresponding chargeability/resistivity anomalies present in the vicinity.

Expanding Exploration to Alimony and Commission Targets
In a later drilling phase, the company has two additional drill targets to test. The Alimony Target is a significant 1200 m by 500 m molybdenum-gold soil anomaly that coincides with overlapping chargeability and resistivity anomalies. In the eastern part of the property, the Commission Target is defined by a 1500 m by 1000 m gold-copper-molybdenum soil anomaly, which corresponds to magnetic low to moderate response. A well constrained resistivity anomaly is present that coincides with strongly anomalous gold and copper soil values.

Figure #1 above outlines the high priority target areas within the Alotta property with potential gold-copper-molybdenum, porphyry style mineralization. Target areas have not been drill tested.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8680/205969_dc6ef53734586b46_001full.jpg

In November 2023 two drill holes were completed on the property which confirmed the porphyry style nature of mineralization. As announced on February 24, 2024, Hole ALT-23-01 intercepted 211.65 metres of 0.46 grams/tonne gold from the first ever diamond drill hole on the property.

Proximity to Proven Resources
The Alotta property consists of 96 mineral claims that cover approximately 1,926 hectares that is located 50 km south-east of Western Copper and Gold's (TSX: WRN) Casino deposit. The Casino deposit is one of the most economic, greenfield copper-gold mining projects in the world which is ranked as one of the top ten largest, undeveloped, copper-gold porphyry deposits in the world. Indicating strong investor support in the region, Western Copper and Gold recently announced on April 16, 2024 that they have upsized from $25 to $40 million a bought deal public offering.

Figure # 2 above provides a historical (Feb 2023) illustration of the Casino Deposit superimposed over unglaciated, anomalous copper in soil geochemistry.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8680/205969_dc6ef53734586b46_002full.jpg

About Benjamin Hill Mining Corp.
Benjamin Hill Mining Corp. is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project located 50 km south-east of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in the Yukon Territory of Canada.

In addition, the Company holds a 40% interest in Aion Mining Corp., a company that is developing the fully permitted La Estrella coal project in Santander, Colombia. The project contains eight known seams of metallurgical and thermal coal.

On behalf of the Board of Directors
"Cole McClay", CEO Benjamin Hill Mining Corp.
info@benjaminhillmining.com

Forward-Looking Statements
Certain of the statements made and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-Looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-Looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205969

FAQ

What is Benjamin Hill Mining Corp. announcing regarding the Alotta project in Yukon?

Benjamin Hill Mining Corp. is announcing the prioritized target areas for drill testing at the Alotta project in Yukon.

How many drill holes does Benjamin Hill Mining Corp. plan to complete at the Alotta project?

Benjamin Hill Mining Corp. plans to complete up to 5 drill holes totaling 2,500 meters at the Alotta project.

What are the primary targets on the Alotta project?

The primary targets on the Alotta project are the Payout and Severance Zones, which show significant surface mineralization.

Where is the Alotta property located?

The Alotta property is located in Yukon, approximately 50 km southeast of Western Copper and Gold's Casino deposit.

What recent announcement did Western Copper and Gold make?

Western Copper and Gold recently announced an upsizing of their bought deal public offering from $25 to $40 million.