Benz Mining intercepts gold at Glenburgh’s Zone

Key highlights

• New intercept at Zone 126 (Lens 3): 79m @ 4.4 g/t Au from 534m in hole 25GLR023—the project’s highest gram-metre hit to date. 
• Recent step-outs also include 44m @ 4.6 g/t Au from 475m (25GLR070) and 20m @ 2.6 g/t Au from 507m (25GLR035); lenses remain open at depth. 
• Drilling strategy formalised in three phases (limits → extensions → resource definition) with an emphasis on fast, lower-cost RC and downhole imaging for structural control. 
• Operational tweaks: two rigs moving to double shifts (effective capacity ≈ six rigs) and weekly sample runs to Perth to smooth assay turnaround. 
• Performance rights tied to resource-growth milestones at 2Moz, 4Moz, 6Moz to align management incentives with project outcomes. 
  
   

Benz Mining Corp (ASX: BNZ) has reported a substantial new gold intercept from the Glenburgh Gold Project in Western Australia. The latest hole, 25GLR023, cut 79 metres at 4.4 grams per tonne gold from 534 metres within Lens 3 at Zone 126, which the company describes as the thickest high-grade interval recorded at the project to date. 

The broader Zone 126 trend now hosts multiple high-grade lenses, each open at depth, with step-out drilling continuing. 

What’s new in the drill core

The new intercept sits roughly 70 metres down-dip from previous mineralised hits and supports Benz’s structural model that predicts thickening of gold where secondary shear zones intersect the main mineralised horizon. 

Recent programs have delivered additional high-grade intervals—44m @ 4.6 g/t Au and 20m @ 2.6 g/t Au—as drilling traces the system along a trend that extends for more than a kilometre. All lenses are open at depth; follow-up holes are underway. 

CEO commentary 

“Lens 3 just keeps getting better. The latest 79 metres at 4.4 grams per tonne gold is the thickest and one of the most exciting intercepts we’ve ever seen at Glenburgh – proof that this system is growing stronger and more extensive with every drill hole. Our structural model is working exactly as planned, consistently hitting thick, high-grade zones at depth.

Every lens we’ve discovered so far remains open down-plunge, and we’ve only drilled a fraction of the 18km long Glenburgh corridor. The scale potential here is enormous – we’re looking at a multi-lens gold system with the kind of thickness and grade continuity that can build serious ounces fast.

While assay turnaround times have been a factor in delivering results to market, we’re actively addressing this by implementing a dedicated logistics service from site to Perth… At the same time, we’re ramping up drilling, with two of the rigs set to move to double-shift operations, effectively giving us the power of six rigs turning at Glenburgh as we push to accelerate discovery and growth.

With this expanded program now in full swing, Benz is driving resource growth on multiple fronts – unlocking bulk-tonnage potential at Icon and expanding the high-grade core at Zone 126. We’re only scratching the surface of what this exceptional gold system can deliver.” 

(Quoted from Benz CEO Mark Lynch-Staunton in the ASX announcement.)

How the program is being run—three clear phases

Benz outlines a structured approach aimed at speed and data quality, while keeping costs down:

• Phase 1 – Define the limits: Focused RC drilling to sketch lateral and near-surface extents of new lenses, guided by a structural/geo model that has delivered multiple lens discoveries so far. 
• Phase 2 – Extend at depth: Step-outs down-plunge as each new lens is identified. Importantly, the company notes all lenses remain open and that extensional drilling is ongoing. 
• Phase 3 – Resource definition: Infill where appropriate to progress resource conversion, with the folded geology concentrating gold in thickened hinge zones that can continue to add ounces during definition work. 
  
   

To keep costs contained, Benz favours RC over diamond where feasible, and deploys a downhole televiewer for each RC hole, building a “digital core” to support 3D structural interpretation. 

Operations and logistics: more metres, smoother assays

Two of four rigs are moving to double shifts, which Benz says lifts effective capacity to six rigs. In parallel, a dedicated transport arrangement is being set up to move samples weekly from site to Perth labs, targeting more regular turnaround amid sector-wide lab congestion.

The company also flags downhole EM and other geophysics to refine targets beyond Zone 126, while drilling continues across the Icon–Apollo trend along the 18–20 km Glenburgh corridor. 

Incentives: tying management rewards to ounces

The board has adopted performance rights that vest only on resource growth milestones at the group level—2Moz, 4Moz, and 6Moz of gold—linking executive incentives to quantifiable outcomes rather than short-term share moves. Further details will be provided in an Appendix 3G. 

Where Zone 126 sits in the bigger picture

Zone 126 is one of several targets within the Glenburgh Gold Project. The company positions Glenburgh as a “new frontier” gold district combining bulk-tonnage potential (Icon–Apollo) with high-grade underground lenses (Zone 126). 

While today’s release focuses on Zone 126, management notes drilling remains active across the corridor with additional lenses (Lenses 4 and 5) defined as targets and assays pending from recent holes. 

Market snapshot (ASX, 12:07pm AEDT, 14 Oct 2025 — delayed)

• Price: A$1.875, +A$0.345 (+22.55%)
• Volume: 1,252,344
• Market cap: ~A$542.36m
• Shares on issue: 289.26m
• 52-week range: A$0.210–1.890
• 1-year return: +650.0%
  
   

Figures above are the provided session snapshot and may differ at the close.

For readers: what to track next 

• Follow-up holes at Lens 3 and deeper targets: Benz states Lenses 1–4 remain open at depth; additional drilling is scheduled to advance down-plunge extensions. 
• Assay cadence: The new weekly transport plan is aimed at smoothing news flow; watch for regular updates as labs process samples. 
• Cross-corridor work: Activity along Icon–Apollo continues in parallel with Zone 126 work; management has flagged the addition of rigs and reconnaissance drilling along the broader 18 km trend.