Banyan Gold Corp. [BYN–TSXV] reported assay results from the next five diamond drill holes received from the 2021 exploration program at the AurMac property, Yukon. These holes continue with the systematic testing of the Powerline deposit on 100-metre centered step-out drilling and continue to validate the geological model and expand the limits of known near-surface gold mineralization.
Assay highlights from this set of five 2021 Powerline Zone drill holes include 0.85 g/t gold over 12.2 metres from surface in hole AX-21-87; 0.47 g/t gold over 26.4 metres from 25.9 metres in hole AX-21-91; and 0.70 g/t gold over 50.3 metres from 85.1 m in AX-21-91
“Banyan continues to execute a successful exploration season, which began in February 2021, after drilling into December 2020.” stated Tara Christie, President and CEO, “The planned Phase 1 diamond drilling at the Powerline Deposit comprised 10,476 m from 50 holes; this robust program confirmed Banyan’s Powerline Geologic Model and greatly expanded the mineralized footprint outside of the original bounds of the 2020 deposit. This latest set of results, carry on with the identification of a remarkably consistent gold mineralization at Powerline and demonstrate the Powerline Deposit, open in all directions, shows particular strength to the east. Additional step-out drill fence lines will be a prime focus for the next phase of drilling at Powerline.”
Banyan has completed Phase 1 Powerline drilling with 10,476 m (50 holes) in a systematic, 100-metre centred, drill grid designed to test the expansion potential of the Powerline Deposit.
Drilling is ongoing with two diamond drills now focused on the Aurex Hill Target. Four holes and over 1,000 metres of drilling have been completed to date.
The AurMac initial resource of 903,945 oz gold was announced in May 2020. Major strategic shareholders include Alexco Resource Corp. [AXU-TSX, NYSE American], Victoria Gold Corp. [VGCX-TSX; VITFF-OTC] and Osisko Development Corp. [ODV-TSXV]. The 173 km2 AurMac property lies 30 km from Victoria Gold’s Eagle Project and adjacent to Alexco’s Keno Hill Silver District and is highly prospective for structurally controlled, intrusion related gold-silver mineralization. The property is located adjacent to the main Yukon highway and just off the main access road to the Victoria Gold open-pit, heap leach Eagle Gold mine.
The AurMac property benefits from a 3-phase powerline, existing Yukon Energy Corp. switching power station and cell phone coverage.
Banyan has optioned the properties from Victoria Gold and Alexco respectively with a right to earn up to a 100% subject to royalties.
The 2020 Initial NI-43-101 Resource Estimate is 903,945 ounces of gold. It is a near surface, road accessible pit constrained Mineral Resource contained in two near/on-surface deposits: The Airstrip and Powerline deposits.