Benz Mining Corp (ASX: BNZ) (TSXV: BZ, OTC: BENZF) has announced a maiden exploration target for its 100%-owned Glenburgh Gold Project in the Gascoyne region of Western Australia. This target, defined under the JORC Code (2012) and contemplated in NI 43-101 marks a significant milestone in the project’s development.
The exploration target is supported by substantial drilling, with approximately 80% of the target being drill-defined, assay-supported, and wireframed. The remaining 20% reflects a more conceptual geological projection of the system beyond the current drill footprint. Benz Mining Corp plans to undertake aggressive infill, extensional, and down-plunge drilling, along with metallurgical testwork and updated geological modeling over the next 12 months, aiming to convert a substantial portion of the exploration target into a mineral resource in CY27.
The Glenburgh Exploration Target: A Detailed Look
The Glenburgh Exploration Target is reported as a single target but is separated into two complementary components: a higher-grade core and a mineralized halo. The higher-grade core ranges from 110 to 125 million tonnes (Mt) with a grade of 1.7 to 1.8 grams per tonne (g/t) Au containing 6.1 to 7.3 million ounces (Moz) Au. The mineralized halo ranges from 375 to 415 Mt with a grade of 0.33 to 0.35 g/t Au containing 4.0 to 4.6 Moz Au. Together, they form a total exploration target of 485 to 540 Mt with a grade of 0.6 to 0.7 g/t Au and 10.1 to 12.0 Moz Au.
It is important to note that the potential quantity and grade of the exploration target are conceptual in nature and uncertain. There has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource. The exploration target is not, and does not carry the classification of, a mineral resource or ore (mineral) reserve.
Future Exploration Plans
Benz Mining Corp intends to undertake several activities to test the exploration target. These include infill drilling of the drill-constrained domains to a nominal spacing of approximately 25m × 25m to test grade and tonnage continuity and to support conversion to a mineral resource estimate. Extensional, step-out, and down-plunge drilling will also be conducted to test the conceptual projection components. Additionally, further metallurgical testwork building on the Icon results reported on 17 June 2026 will be carried out, along with updated geological modeling, density determination, and mineral resource estimation.
These activities are expected to be undertaken over the next 12 months, with the objective of converting a substantial portion of the exploration target into a mineral resource in CY27. The company is well-funded to execute this program at pace, following a $75 million raise completed earlier this year.
The Geological Potential of Glenburgh
The Glenburgh deposit geology is interpreted to comprise muddy pelitic sediments and mafic volcanic rocks metamorphosed to migmatites and amphibolites during the ca. 1990Ma Glenburgh Orogeny. Within this package of rocks, an extensive sea floor or sub-sea floor alteration system is associated with gold mineralization. The core of the mineralized envelope at Glenburgh is defined by a folded sequence of metapelitic rocks interlayered with silica-rich grey chert bands, sulphide and oxide sedimentary iron formations, iron-rich grunerite bearing layers, and tungsten-rich and phosphate bands.
Recrystallization of gold and other silicate minerals during granulite facies metamorphism is considered responsible for the exceptional metallurgical recoveries reported on 17 June 2026. The 100%-owned Glenburgh Gold Project is rapidly emerging as a new frontier gold district with multi-million-ounce potential. Located in Western Australia’s Gascoyne region, Glenburgh hosts an 18-20 kilometre mineralized corridor anchored by the large-scale Icon-Apollo trend and the high-grade Zone 126 system.
Benz CEO, Mark Lynch-Staunton commented on the significance of the exploration target, stating that it frames the conceptual scale and quality of Glenburgh on a project-wide basis for the first time. He emphasized the strong technical foundation provided by the drill-defined components and the company’s objective to keep drilling aggressively to convert a substantial portion of the exploration target into a mineral resource in CY27.
