Benchmark Drills Inc. (OTCMKTS:BNCHF) (TSXV:BNCH) Stock Rallies After Updating Drilling Results

Benchmark Drills Inc. (OTCMKTS:BNCHF) (TSXV:BNCH) was up 7% after announcing new drill results from three multipurpose drilling holes located at the AGB Claims.

Market Stats

On Friday, BNCHF stock gained 6.6% to $0.9209 with more than 31K shares, compared to its average volume of 14K shares. The stock moved within a range of $0.8446 – 0.9209 after opening trading at $0.8446.

Benchmark Drills 13 Metres of 23.72 g/t Gold and 212.84 g/t Silver

The results include 101.6m of 4.68 g/t gold, 5.8 g/t gold equivalent and 89.89 g/t of silver, as well as a 13m of 23.72 g/t gold and 26.38 g/t gold equivalent or 212.84 grams per tonne of silver in a drill in hole 21AGBDD040. Besides the near-surface testing for continued mineral resources, drill holed 21AGBDD055 and 21AGBDD054 sought to assess the geotechnical properties of the zone and hydrogeological regime of the drill zone.

The cost-efficient multipurpose drill holes successfully continue to show a high-grade link of mineralization close to the surface at the AGB zone’s southernmost extent while also offering hydrogeological and geotechnical data required for the design of pit slope of other engineering surveys. The company’s main lawyers Gold-Silver Project sits in a region accessible by road in the Golden Horseshoe region in British Columbia. So investors should watch BNCHF. 

Key Quote

John Williamson, CEO, commented, “The 2021 drill program has intersected near-surface high-grade mineralization within the pit shells modeled in 2021 and could potentially add significant resources in the near-term Mineral Resource update. As these results continue to expand the limits of the mineralization, further drilling in 2022 will continue to expand resource potential in all directions.”

Traders Corner

BNCHF stock is trading above the 20-Day and 50-Day Moving averages of $0.83 and $0.82 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.88.