{"id":1182110,"date":"2020-05-04T08:15:21","date_gmt":"2020-05-04T13:15:21","guid":{"rendered":"https:\/\/www.mining.com\/?p=1022561"},"modified":"2020-05-04T08:15:21","modified_gmt":"2020-05-04T13:15:21","slug":"benz-mining-expands-eastmain-gold-project-in-quebec","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1182110","title":{"rendered":"Benz Mining expands Eastmain gold project in Quebec"},"content":{"rendered":"<p>Benz Mining (TSXV: BZ) announced that it has acquired an option to earn a 100% interest in the Ruby Hill West and Ruby Hill East properties, located west of its Eastmain gold mine project in James Bay District, Quebec.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>In a press release, Benz explained that the deal is with Eastmain Resources, with whom the company had a previous agreement that required it to incur $500,000 in exploration expenditures by October 23, 2020, and add such expenditures to the work requirement for the period ending October 23, 2022, in order to acquire up to a 100% interest in the Eastmain gold mine.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>The principal exploration targets on the Ruby Hill West and East properties correspond to volcanic-hosted lode gold deposits characterized by stratabound, disseminated and massive chalcopyrite-pyrrhotite-pyrite veinlets<\/p>\n<\/blockquote>\n<\/figure>\n<p>The new amending agreement, thus, adds the Ruby Hill West and Ruby Hill East properties to the Eastmain gold mine project. Benz can earn a 75% interest in such properties by making cash payments totalling $375,000, issuing 2,000,000 common shares of Benz or making a cash payment in an amount to enable Eastmain to acquire 2,000,000 common shares of Benz within three months, and issuing 4,000,000 share purchase warrants.<\/p>\n<p>Benz will have the right to earn an additional 25% interest in the Ruby Hill West and Ruby Hill East properties by paying an additional $100,000 to Eastmain by October 23, 2025.<\/p>\n<p>Ruby Hill West includes one block of 180 contiguous mining claims totalling 9,485 hectares which includes more than 30 kilometres of strike along a favourable volcano-sedimentary greenstone sequence within Upper Eastmain River greenstone belt. The concessions are approximately 25 kilometres west of the Eastmain gold mine project.<\/p>\n<p>Ruby Hill East includes one block of 88 contiguous mining claims totalling 4,640 hectares and which are immediately west and contiguous to the Eastmain gold mine project concessions.<\/p>\n<p>Including the Eastmain mine project, Benz now controls more than 22,100 hectares of ground in the prospective Upper Eastmain River greenstone belt.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British Columbia miner acquired an option to earn a 100% interest in two properties adjacent to Eastmain.<\/p>\n","protected":false},"author":92,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1182110"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1182110"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1182110\/revisions"}],"predecessor-version":[{"id":1182165,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1182110\/revisions\/1182165"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1182110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1182110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1182110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}