VANCOUVER, British Columbia, July 13, 2017 (GLOBE NEWSWIRE) -- Benz Mining Corp. (TSX-V:BZ) (the “Company”), further to its previous news release dated March 13, 2017, is pleased to announce that it has made the second option payment of $80,000 to Silver Range Resources Ltd. (“Silver Range”) pursuant to the terms of the purchase agreement between the Company and Silver Range in connection with the Mel zinc-lead-barite property (the “Mel Project”).
About the Mel Project
The Mel property is located within a belt of important sedimentary exhalative zinc-lead deposits, which includes the Howard's Pass, the Tom and Jason and the Akie deposits. Mel is situated 80 km east of Watson Lake and 40 km north of the Alaska Highway in southeastern Yukon Territory.
The Mel Main Zone hosts an inferred resource of 5.28 million tonnes grading 6.51% zinc, 1.86% lead and 45.05% barite (BaSO4), at a zinc-equivalent cut-off grade of 5.0%. Mineralization at the Main Mel Zone consists of coarse-grained sphalerite and galena disseminated throughout a mixture of mudstone, silica- carbonate and coarsely crystalline barite. Minor amounts of fine‑grained, sparsely disseminated pyrite occur locally. The Main Mel Zone is open down-dip and potentially also along strike and has good potential to host a larger zinc-lead resource.
A complete copy of the Mel Technical Report prepared by independent qualified persons, H. Leo King, P.Geo. and G.H. Giroux, P.Eng., can be viewed at www.sedar.com under the Benz profile or on Benz’s website at benzmining.com. Zinc equivalent values were calculated using US$1.01/lb zinc, US$0.94/lb lead and recoveries of 90.3% and 97.7% respectively.
All technical information in this news release has been reviewed and approved by Michael Gareau, P.Geo., Vice President of Geology and Exploration for Benz, and a Qualified Person for the purposes of National Instrument 43-101.
About Benz
Benz Mining Corp. is focused on acquiring and developing mining assets in safe jurisdictions and is led by a team of experienced mine developers. For additional information concerning Benz or its Mel project please visit Benz’s website at benzmining.com.
On behalf of the Board of Directors of Benz Mining Corp.
Miloje Vicentijevic, President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy or adequacy of this release.