Banyan Gold drills intersects 1.48 g/t gold over 30.5 metres at AurMac, Yukon
Banyan Gold Corp. [BYN-TSXV; BYAGF-OTCQB] reported analytical results for the final 57 diamond drill holes from the 2022 exploration program at the Powerline and Aurex Hill deposits, located on the company’s AurMac property, Yukon.
Assay highlights from this most-recent batch of assays received include 31.2 metres of 0.84 g/t gold from 293.4 metres in DDH-22-350; 30.5 m of 1.48 g/t Au from 28.3 m in DDH-22-364; 78.3 m of 0.48 g/t Au from 73.9 m in DDH-22-371; 105.9 m of 0.41 g/t Au from 10.7 m in DDH-22-376; 43.7 m of 0.60 g/t Au from 72.7 m in DDH-22-380; 63.2 m of 0.45 g/t Au from 41.7 m in DDH-22-382; 54.1 m of 0.43 g/t Au from 128.7 m in DDH-22-384; 90.0 m of 0.46 g/t Au from 21.3 m in DDH-22-386; and 64.3 m of 0.42 g/t Au from 54.6 m in DDH-22-387.
“With all 2022 data now in hand, Banyan is positioned to further advance the AurMac deposit,” stated Tara Christie, President and CEO. “The 2022 exploration program was successful in demonstrating that the AurMac deposit has the potential to be district scale, with the near/on-surface gold mineralization of the Powerline and Aurex Hill deposits continuing to be open and with step-out drilling demonstrating that Banyan can continue to add ounces beyond what will be in our mid-year Resource update. Banyan looks forward to another aggressive exploration season designed to build upon and expand the AurMac Property’s expansive gold endowment towards building an economic gold resource.”
The Powerline and Aurex Hill gold deposits are contained within a metasedimentary package consisting of predominately schists, quartzites and limestones of the Late Proterozoic to Cambrian Hyland Group. Gold mineralization here is chiefly associated with low angle quartz-sulfosalt-arsenopyrite veins seen crosscutting all lithologies and is interpreted to be associated with a large intrusion related gold system typical of the Tombstone Gold Belt and Selwyn Basin gold deposits. A strong bismuth-gold association has been identified at AurMac and is currently being utilized to establish exploration vectors over the property.
In 2022, Banyan drilled 211 diamond drill holes, with 209 holes at the AurMac project and 3 holes at the Nitra property for a culminative total of just over 50,000 m of drilling.
The 2023 exploration and development plans are being developed by Banyan’s technical and management team after detailed analysis of the geochemical database, structural setting and extent of mineralization defined to date. The 2023 Drilling at AurMac will include a Phase 1 program of 25,000 metres slated to commence this March supported by up to four drill rigs. The 2023 program will be aided by the on-site preparatory lab, that will reduce assay turnaround times which will help target and refine drilling activities during the season.
The 2023 program will include an expanded metallurgical, geotechnical and baseline environmental programs.
Banyan’s primary asset, the AurMac Property is comprised of the Aurex and McQuesten properties, as well as claims staked and owned 100% by Banyan, and adjacent to Victoria Gold’s Eagle Gold Mine. The updated resource for the AurMac Property of 3,990,000 ounces was announced on May 17, 2022.
The 173 km2 AurMac property is transected by the main Yukon highway and access road to the Victoria Gold open-pit, heap leach Eagle Gold mine. The AurMac property benefits from a 3-phase powerline, existing power station and cell phone coverage. Banyan has a right to earn up to a 100% interest, in both the Aurex and McQuesten properties, subject to certain royalties.