Ms. Tara Christie reports
BANYAN COMMENCES 2018 EXPLORATION PROGRAM AT HYLAND GOLD PROJECT, YUKON
Banyan Gold Corp. has commenced the 2018 field exploration season, with field-based trenching, diamond drilling and geochemical sampling programs planned for the company's wholly owned, flagship Hyland gold project located in southeast Selwyn basin, Yukon.
"This season's program on our Hyland gold project will focus on establishing the mineral continuity between the current National Instrument 43-101-compliant resource at the Main zone and the Camp zone, an area never before tested," stated Tara Christie, president and chief executive officer. "We believe that a combination of targeted surface trenches and focused diamond drilling will lay the groundwork necessary to grow the current NI 43-101-compliant resource within the Quartz Lake corridor and generate maximum shareholder value for our company."
The Hyland project is dominated by the 18-kilometre-long north-south Quartz Lake corridor (QLC) and is interpreted to be the dominant control for gold mineralization at Hyland. Of the 18 km long QLZ about 870 metres have been delineated by the current NI 43-101-compliant resource in the Main zone, about 400 metres have been tested by five trenches and three drill holes in the Camp zone. The approximately 850 m section of the Quartz Lake lineament between the Camp zone and the Main zone remains largely untested.
Planning and preparations for an active 2018 field season have begun with personnel slated to be mobilized to the Hyland gold project beginning in mid-June. The program will target a previously inaccessible portion of the QLC for detailed trenches and a subsequent drill program designed to test the continuity of mineralization between the two zones. Approximately 1,200 metres of diamond drilling from 10 approximately 100 m spaced holes combined with greater than 1,000 metres of trenches from 20 50 m spaced trenches are planned over this high-priority target area.
The proposed exploration programs are well supported by an existing 35-person camp and commensurate prepositioned fuel, drill and heavy equipment that were transported to the Hyland gold project in March, 2018, by Banyan on the existing access trail. In addition to the equipment and consumables brought in on the winter trail, a secondary, fully equipped 25-person camp was mobilized to site and will be commissioned near the Main zone.
Summary maps of the proposed 2018 Hyland program will be made available on the company's website.
The company plans to issue 200,000 stock options, to certain staff, with an exercise price of 7.5 cents per share, pursuant to the company's stock option plan.
This news release has been reviewed and approved by Paul D. Gray, PGeo, a qualified person as defined by NI 43-101.
About Banyan Gold Corp.
Banyan is a growth-stage gold exploration company whose flagship property, the Hyland gold project, is approximately 70 kilometres northeast of Watson Lake, Yukon, along the southeast end of the Tintina gold belt.
The Hyland main zone indicated gold resource estimate, prepared in accordance with NI 43-101, at a 0.3-gram-per-tonne-gold-equivalent cut-off, contains 8.6 million tonnes grading 0.85 g/t gold equivalent for 236,000
AuEq
ounces
with an inferred mineral resource of 10.8 million tonnes grading 0.83 g/t AuEq for 288,000
AuEq ounces.
Cut-off grade In situ Au Ag AuEq
(g/t AuEq) tonnes Grade Ounces Grade Ounces Grade Ounces
(g/t) (g/t) (g/t)
Indicated
0.3 8,637,000 0.78 216,000 7.04 1,954,000 0.85 236,000
Inferred
0.3 10,784,000 0.77 266,000 5.32 1,845,000 0.83 288,000
Notes:
(1) Mineral resources, which are not mineral reserves, do not have demonstrated
economic viability. All figures are rounded to reflect the relative
accuracy of the estimate.
(2) Mineral resources are reported at a cut-off grade of 0.3 gram per tonne
gold equivalent. Gold equivalent grade is based on $1,350 per ounce gold and
$17 per ounce silver and assumes a 100-per-cent recovery. The gold equivalent
calculation does not apply any adjustment factors for difference in
metallurgical recoveries of gold and silver. This information can only be
derived from definitive metallurgical testing, which has yet to be completed.
We seek Safe Harbor.
© 2026 Canjex Publishing Ltd. All rights reserved.