Banyan Gold eyes size potential at Yukon project

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Banyan Gold Co. (BYN-TSXV) CEO Tara Christie says the latest batch of assay results from its 2021 drill program continues to showcase the extensive nature of gold mineralization around the Powerline Deposit on its AurMac property in the Yukon.

Christie made the comment in a press release after Banyan announced analytical results from 21 diamond drill holes that were completed during the company’s 2021 exploration program at the Powerline Deposit.

Drilling highlights include 1.02 g/t gold over 55.1 metres.

The AurMac gold project is located in the Mayo Mining district, 356 kilometres north of Whitehorse, and consists of the Aurex and McQuesten projects optioned from Victoria Gold Corp. [VIT-TSXV] and Alexco Resources Corp. (AXR-TSX, AXU-NYSE).

Banyan can earn a 100% interest in both properties, subject to royalties.

The AurMac Project has a NI 43-101-compliant indicated inferred resource of 52.6 million tonnes of 0.535 grams per tonne gold at a 0.2 g/t gold cut-off, or 903,945 ounces of gold. This resource is located in two zones, the Airstrip and Powerline zones.

This resource is open in all directions and at depth, and has the potential to host a multi-million-ounce deposit, the company has said.

The Airstrip Zone contains an inferred mineral resource of 46 million tonnes at an average gold grade of 0.524 g/t for a total of 774,926 ounces of gold. It is open to resource expansion to the east, west and downdip.

Powerline hosts an inferred resource of 6.6 million tonnes of grade 0.610 g/t gold or 129,019 ounces.

In 2021, step-out drilling to the east and west of the Powerline Deposit identified a near/on-surface gold trend that is interpreted to have grade continuity over 1.2 kilometres of strike length.

A section of this zone has been drilled at 25 metre-centres, along cardinal and intercardinal directions, over a 200-metre by 200 metre area to test the continuity of mineralization along strike and down dip.

Results will be used to refine the geological/mineralization model of the Powerline Deposit in advance of an updated mineral resource that the company is planning to complete in 2022.

Meanwhile, the company has planned an exploration program at AurMac this year that is expected to include 30,000 metres of diamond drilling, split between the Powerline Deposit and Aurex Hill targets.

So far, six holes covering 1,200 metres of the 2022 exploration program have been completed.

“With the denser drill spacing to refine mineralization continuity in the northeast of the Powerline Deposit wrapping up, we are excited to get back to 100-metre step-out drilling designed to demonstrate the size potential of the near/on-surface Powerline Deposit mineralization to the east and west,’’ Christie said.

Results from the latest batch of drill holes are consistent with previous exploration drill results at the Powerline Deposit, the company said.

On February 18, 2022, Banyan Gold shares closed at 35.5 cents and now trade in a 52-week range of 38 cents and 16.5 cents.

 


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