Highlights

  • Benz reported 68 reverse circulation holes totalling 25,776 metres at ICON on 19 October 2026.
  • Hole 26CN120 intersected 46 metres at 6.5 grams per tonne gold from 454 metres.
  • Drilling has outlined a mineralised system 100–200 metres wide across the first kilometre of a three-kilometre trend.
  • The company is advancing technical studies alongside further exploration at Glenburgh.
  • A maiden mineral resource estimate from recent drilling is targeted for the first quarter of 2027.

Benz Mining Corp. (ASX:BNZ) explores for gold at its Glenburgh project in Western Australia’s Gascoyne region and also holds the Eastmain project in Québec. Its 19 October 2026 drilling update described additional gold intersections at the Icon camp, where systematic exploration is refining the understanding of a mineralised corridor. The results provide geological information for resource assessment while further drilling and technical work continue across Glenburgh.

Icon Drilling Defines Multiple Gold-Bearing Zones

The October release covered 68 reverse circulation holes totalling 25,776 metres. The strongest reported interval was 46 metres at 6.5 grams per tonne (g/t) gold from 454 metres in hole 26CN120, including 34 metres at 8.7 g/t from 460 metres. Hole 26CN129 returned two separate intersections: 42 metres at 3.0 g/t from 337 metres and 39 metres at 3.1 g/t from 388 metres.

Additional results included 46 metres at 2.5 g/t from 24 metres in hole 26CN071, 87 metres at 1.2 g/t from 219 metres in 26CN147 and 54 metres at 1.8 g/t from 385 metres in 26CN149. Benz Mining Corp. (ASX:BNZ) reported these as downhole intervals; true widths have not been established. The reported grades and lengths therefore require geological interpretation before they can be used to assess mineable dimensions.

Geological Model and Glenburgh Project Context

According to Benz Mining Corp. (ASX:BNZ), drilling has defined a mineralised system approximately 100–200 metres wide across the first kilometre of the three-kilometre Icon trend. Mineralisation has been identified at vertical depths exceeding 500 metres. The company interprets multiple stacked higher-grade lenses, typically 30–50 metres wide, within a broader mineralised envelope.

Its interpretation links gold mineralisation to structural features in metamorphosed gneiss, including shear zones and silica-rich alteration. The model draws on structural measurements and multi-element geochemistry gathered during drilling. These observations guide targeting but do not independently demonstrate economic extraction or establish ore reserves.

Glenburgh is situated approximately 285 kilometres east of Carnarvon. Benz Mining Corp. (ASX:BNZ) is using a systematic drilling pattern of roughly 50 by 25 metres to improve geological definition. The company has also identified near-surface gold mineralisation along the eastern two kilometres of the Icon corridor, where first-pass drilling was approaching completion at the time of the announcement.

Further Exploration and Technical Assessment

Beyond Icon, Benz Mining Corp. (ASX:BNZ) intends to complete baseline drilling across the Hurricane and Thunderbolt areas. Regional mapping has identified another prospective exploration camp east of Hurricane, extending approximately three to four kilometres, which the company expects to test with initial drilling. These targets remain subject to further fieldwork and assay results.

In parallel, the company has commenced geotechnical, metallurgical, water, power and infrastructure investigations. Processing studies are examining conceptual throughput options. Such work is preliminary: the October announcement did not report a completed mining study, a final development configuration or an Investment decision.

Benz Mining Corp. (ASX:BNZ) is targeting a maiden mineral resource estimate based on its recent drilling in the first quarter of 2027. Timing remains a company objective rather than a completed milestone, and outstanding assays must be received, validated and incorporated into geological modelling.

Key Insights

The 2026 Icon drilling results add detail to the scale, grade distribution and structural interpretation of the Glenburgh gold system. For Benz Mining Corp. (ASX:BNZ), the next evidence points are the remaining eastern-corridor results, continued testing of other camps and the planned maiden resource estimate. Broad intersections demonstrate mineralisation in drilled locations, but resource classification, mining methods, recoveries and project Economics still require further assessment.