The results released Wednesday are from drilling on the Airstrip Zone, a near-surface gold deposit that is open to resource expansion to the east, west and downdip.
The company said it represents an open-pit mineable bulk tonnage target that is advantaged by existing transportation infrastructure, including the main Yukon government highway system and an all-season road to Victoria Gold Corp.’s [VIT-TSXV] adjacent Eagle Mine which achieved commercial production in July, 2020.
The Eagle Mine is connected to the Yukon power grid and a commercial airstrip used to transport personnel is located 80 kilometres to the south near the village of Mayo.
The AurMac Project has a NI 43-101-compliant indicated inferred resource of 52.6 million tonnes of 0.535 g/t gold at a 0.2 g/t gold cut-off. 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 averaging 0.524 g/t gold for 774,926 ounces.
Wednesday’s drilling highlights from the Airstrip Zone include 0.92 g/t gold over 63.5 metres from 106.0 metres in hole MQ-20-86, 0.89 g/t gold over 59.2 metres from 111.0 metres in MQ-20-87, and 0.62 g/t gold over 59.8 metres from 63.7 metres in MQ-20-93.
“Successful step-out drilling along strike to the east, west and down-dip has shown that 2020 drilling added significantly to the mineralized volume of the Airstrip Deposit and defined continuity of mineralization in all directions,” said Banyan Gold President and CEO Tara Christie.
“Significantly MQ-20-66, MQ-20-67, MQ-20-86, and MQ-20-87, have identified the continuation of the Airstrip mineralized trend which remains open down-dip to the south, and in particular, to the west where mineralization is showing consistent higher grade,’’ she said.
“We look forward to 2021 as a transformative year for the company. Drilling is expected to begin early in March 2021 and it will be a busy year for Banyan.”
Christie has said the company will continue to methodically execute the AurMac exploration program based on the application of its geological and resource models.