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Highlights

  • Multiple drill holes returned over 200m of gold mineralisation, all ending in mineralised zones
  • Geological modelling suggests a 400m wide mineralised envelope linked to nearby Tuxedo deposit
  • Ongoing drilling campaign funded by recent AUD 13.5 million capital raise using two RC drill rigs

Benz Mining Corp (TSXV:BZ) has reported extensive gold intercepts from new step-out drilling at the Icon Prospect, part of the Glenburgh Gold Project in Western Australia. The company released details on August 3, 2025, highlighting results that support Icon’s emergence as a potentially large-scale bulk open-pit gold system. Recent drill holes returned substantial mineralised intervals, with all holes ending in gold mineralisation. Intercepts included 206 metres at 0.5 grams per tonne (g/t) from 194 metres and 272 metres at 0.5 g/t from 157 metres. Another hole recorded 306 metres at 0.4 g/t from 222 metres, including 10 metres at 2.8 g/t. Additional shallower intercepts featured 154 metres at 1.1 g/t and 134 metres at 1 g/t.

Geological modelling suggests that these zones are open at depth and could connect to the nearby Tuxedo deposit in a synformal structure. Benz estimates a mineralised envelope up to 400 metres wide containing three higher-grade lenses (0.8 to 1.5 g/t gold), supported by a continuous lower-grade halo of 0.2 to 0.3 g/t. Drilling at Icon has moved beyond earlier pit shell boundaries, aiming to test deeper mineralisation. According to the company, prior drilling ended within mineralised zones, and the new campaign is designed to extend these limits and assess continuity.

The latest program is being advanced using two reverse circulation (RC) drill rigs, supported by funds from a recently completed AUD 13.5 million capital raising. Planning is underway for additional step-out and infill drilling to further define the system’s scale and support future resource modelling. In conjunction with success at the Zone 126 trend, Benz believes the Glenburgh Gold Project is evolving into a broader district-scale system. Icon is located approximately six kilometres from Zone 126 and forms part of an 18-kilometre known gold trend within Glenburgh.

The company noted that early interpretation indicates potential for a low-strip ratio, open-pit configuration due to the geometry and thickness of near-surface mineralisation. Further drilling is aimed at expanding the mineralised footprint and upgrading resource confidence. A new shallow mineralised zone has also been identified north of Icon, where one hole intersected 4 metres at 2.5 g/t gold, suggesting further exploration targets in the vicinity.