Banyan Gold Corp. [BYN-TSXV; BYAGF-OTC] reported analytical results from the first nine diamond drill holes completed during the company’s 2022 exploration program at the Powerline deposit, located on the partly 100%-optioned, partly100%-owned AurMac property 56 km northeast of Mayo, Yukon.
Assay highlights include 32.1 metres of 0.78 g/t gold from surface (13.7 m) in DDH AX-22-205; 34.8 metres of 1.07 g/t gold from surface (7.9 m) in DDH AX-22-206; 33.9 metres of 0.74 g/t gold from 54.2 metres in DDH AX-22-207; and 22.5 metres of 1.07 g/t gold from 22.5 metres in DDH AX-22-208.
“These initial results from 2022 diamond drilling on the AurMac property have continued where 2021 drilling left off, definition of higher-grade zones within the expanding mineralization footprint of on/near surface gold mineralization at the Powerline,” stated Tara Christie, President and CEO. “To date, over 17,000 metres of drilling has been completed and Banyan looks forward to steady results through 2022.”
Results from these first nine 2022 drill holes are consistent with previous exploration drill results at the Powerline Deposit (see an attached table) and the areal extent of interpreted gold mineralization from near/on-surface continues to expand with each batch of assay results received.
Banyan initiated its 2022 exploration program on January 26, 2022, and currently has three drills operating on the property. Seventy-five drill holes and over 17,000 metres of drilling has been completed to date which together have expanded the mineralization around the Powerline Zone by over 600 metres to the east and 1,000 metres west from 2021 drilling. The 2022 program will include approximately 80% of exploration drilling focused on expansion of the mineralization at Powerline and testing the interpreted mineralization connected with the Aurex Hill zone; and a commiserate ~20% targeting high priority regional targets on the AurMac and Nitra Properties.
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 Gold, and adjacent to Victoria Gold’s Eagle Gold Mine. The initial resource for the AurMac property of 903,945 oz gold was announced in May 2020. Major strategic shareholders include Franklin Gold and Precious Metals Fund, Osisko Development, and Victoria Gold Corp. Banyan is focused on gold exploration projects that have the geological potential, size of land package and proximity to infrastructure that is advantageous for a mineral project to have potential to become a mine.