Banyan Gold drills 1.8 g/t gold over 31.8 metres at AurMac, Yukon
Banyan Gold Corp. [BYN-TSXV; BYAGF-OTC] reported additional analytical results from the diamond drill holes completed during the company’s 2022 exploration program at the Powerline deposit, located on the 100%-optioned AurMac property 56 km northeast of Mayo, Yukon Territory.
Assay highlights include 177.9 metres of 0.47 g/t gold from 24.4 metres in DDH AX-22-251, including 27.1 metres of 1.50 g/t gold from 97.2 metres. Hole DDH AX-22-252 returned 114.1 metres of 0.52 g/t gold from 167.8 metres, including 30.4 metres of 0.69 g/t gold from 206.4 metres, including 26.1 metres of 1.01 g/t gold from 255.8 metres.
DDH AX-22-257 returned 40.5 metres of 0.86 g/t gold from 183.0 metres. DDH AX-22-258 returned 31.8 metres of 1.80 g/t gold from 56.4 metres. DDH AX-22-272 returned 28.2 metres of 0.89 g/t gold from 59.8 metres. DDH AX-22-277 returned 145.8 metres of 0.52 g/t gold from surface (12.6 m), including 45.7 metres of 0.88 g/t gold from surface (12.6 m).
“These latest assay results from the ongoing 2022 diamond drill program continue to systematically increase the mineralized footprint with consistent intersections of on/near-surface gold mineralization in and around the Powerline Deposit on the AurMac Property,” stated Tara Christie, President and CEO. “With four drills currently operating, Banyan remains well positioned to provide a resource update in 2023, after the 2022 assays have been received and the AurMac geological model updated.”
Analytical results from these latest 29 2022 drill holes are consistent with previous exploration drill results at the Powerline Deposit and the areal extent of interpreted gold mineralization from near/on-surface continues to be expanded and validated with each successive batch of assay results received.
Banyan started its 2022 exploration program on January 26, 2022. One hundred and eighty drill holes and over 45,000 metres of drilling has been completed to date with a focus upon expansion of the mineralization around the Powerline and Aurex Hill Zones to the east and west and to test the potential to connect the mineralization footprint of the Powerline and Aurex Hill Deposits. Approximately 10% of the overall 2022 drilling will be focused on high priority regional targets on the AurMac Property and Nitra Property, outside of the Airstrip, Powerline and Aurex Hill Deposits, which will be designed to highlight the larger gold mineralization potential of the AurMac Property.
Banyan’s primary asset, the AurMac Property, comprises 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, in Canada’s Yukon. The updated resource for the AurMac Property of 3,990,000 ounces was announced on May 17 2022.
The 173-km2 AurMac property lies 30 km from Victoria Gold’s Eagle Project and adjacent to the Keno Hill Silver District operated by Hecla Mining Company (formerly Alexco Resource Corp.) and is highly prospective for structurally controlled, intrusion related gold-silver mineralization. The 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.