Banyan Gold drills 539.30 g/t gold over 0.2 metres at AurMac Project, Yukon
Banyan Gold Corp. [TSXV: BYN; OTCQB: BYAGF] has released the latest analytical results from 19 diamond drill holes within the Powerline deposit, located on the company’s AurMac project, Yukon Territory. This set of holes was drilled in the north-central portion of the Powerline deposit as part of the continuing definition drilling program to increase confidence of the resource model.
Highlights from these assay results: AX-24-534: 48.0 metres of 0.53 g/t gold from 75.1 m; AX-24-536: 75.1 m of 0.29 g/t Au from near surface (23.9 m); AX-24-538: 21.5 m of 1.06 g/t Au from near surface 71.9 m; AX-24-540: 0.2 m of 539.30 g/t Au from 166.1 m and 56.7 m of 0.36 g/t Au from 166.3 m.
AX-24-541: 90.0 m of 0.68 g/t Au from surface (13.5 m); AX-24-542: 154.1 m of 0.58 g/t Au from surface (18.3 m); AX-24-544: 0.3 m of 290.10 g/t Au from 37.1 m; AX-24-545: 78.6 m of 0.41 g/t Au from 74.9 m; AX-24-548: 79.6 m of 0.56 g/t Au from near surface (26.5 m) and AX-24-549: 37.5 m of 0.81 g/t Au from near surface (44.5 m).
“The 2024 definition drilling program at AurMac has intersected multiple instances of high-grade gold veins, exceeding 11.00 g/t Au and up to 539.00 g/t. These east-west-oriented vein sets align with the direction of continuity of the structurally controlled Powerline gold mineralization. The increased drill density realized through this year’s work will improve the interpretation of the quantity, distribution and thickness of these high-grade gold veins and their significance within the framework of the Powerline gold mineralization, which is in turn expected to result in refinements to the primary structural controls of the deposit,” stated Tara Christie, president and CEO.
“The successful 2024 AurMac exploration program, combined with record-high gold prices, have strategically positioned Banyan for a resource update [and] preliminary economic assessment (PEA), and, importantly, has provided clear exploration and definition drill targets for 2025.”
Banyan initiated its 2024 exploration program on June 1, 2024, and, over the course of this season, 118 drill holes and over 21,000 metres of drilling have been completed within the Powerline and Airstrip deposits. Drilling was completed in mid-October, and core continues to be logged and processed, with this expected to be completed by mid-November.
Banyan’s primary asset, the AurMac project, is located in Canada’s Yukon. The current inferred mineral resource estimate (MRE) for the AurMac project of 7.0 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 power line, existing power station and cell phone coverage. Banyan has the right to earn up to a 100% interest in both the Aurex and McQuesten properties, respectively, subject to certain royalties.
The inferred mineral resource estimate 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/on-surface deposits: the Airstrip and Powerline deposits.