Banyan Gold drills 0.72 g/t gold over 197 metres at AurMac, Yukon
Banyan Gold Corp. [TSXV-BYN; OTCQB-BYAGF] released the analytical results from 12 diamond drill holes collared this season in the Powerline deposit, located on the company’s AurMac project, Yukon Territory. These holes were drilled in the north-central portion of the Powerline deposit as part of Banyan’s continuing definition and derisking drill campaign on the project.
Highlights: AX-24-519 – 138.7 metres of 0.52 g/t gold from surface (6.1 m); AX-24-520 – 98.1 m of 0.72 g/t Au from near surface (33.7 m); AX-24-521 – 111.4 m of 0.52 g/t Au from near surface (45.5 m); AX-24-522 – 184.3 m of 0.60 g/t Au from near surface (24.9 m); AX-24-524 – 197.0 m of 0.72 g/t Au from surface (10.5 m); and AX-24-525 – 55.1 m of 0.91 g/t Au from surface (5.3
“These results increase the confidence and demonstrate the continuity of the near-surface gold mineralization of the Powerline deposit, as the AurMac deposit both continues to add ounces and advances from an inferred resource to an indicated resource,” stated Tara Christie, president and CEO. “The focus of drilling in 2024 are areas of higher grade which would likely be part of the mine plan for the PEA [preliminary economic assessment] planned for late 2025.”
The Powerline gold deposit is 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-sulphosalt-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.
Banyan initiated its 2024 exploration program on June 1, 2024. Eighty-seven drill holes and over 15,000 metres of drilling have been completed to date. This campaign continues to prove up the continuity of the mineralization within the growing Powerline and Airstrip deposits.
Banyan’s primary asset, the AurMac project, is adjacent to Victoria Gold’s Eagle gold mine/Raven deposit and Hecla’s high-grade Keno silver mine in Yukon. The current inferred mineral resource estimate for the AurMac project of seven million ounces has an effective date of February 6, 2024.
The 173 km2 AurMac project lies 40 km from Mayo, Yukon. The AurMac project is transected by the main Yukon highway and benefits from a three-phase powerline, existing power station and cellphone coverage. Banyan has the right to earn up to a 100% interest in both the Aurex and McQuesten properties, subject to certain royalties.
The inferred MRE for the AurMac project was prepared on February 6, 2024, and consisted of 7,003,000 ounces of gold hosted within near-surface, road-accessible, pit-constrained mineral resources contained in two near-surface/on-surface deposits: the Airstrip and Powerline deposits.