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Banyan Gold Corp
Symbol BYN
Shares Issued 149,055,972
Close 2020-09-18 C$ 0.38
Market Cap C$ 56,641,269
Recent Sedar Documents

Banyan Gold drills 47.7 m of 1.02 g/t Au at AurMac

2020-09-21 06:19 ET - News Release

Ms. Tara Christie reports

BANYAN DRILLS 47.7 METRES OF 1.02 G/T GOLD ON 100 METRE STEP-OUT AND EXTENDS STRIKE BY OVER 200 METRES AT AIRSTRIP TARGET, AURMAC PROPERTY, YUKON

Banyan Gold Corp. has released additional diamond drilling results received from the 2020 exploration program at the Airstrip zone, AurMac property, Yukon.

Highlights include:

  • 1.02 grams per tonne gold over 47.7 metres from 84.8 metres in MQ-20-67;
  • 0.53 g/t Au over 16.5 metres from 0.0 m in MQ-20-79;
  • 0.55 g/t Au over 12.0 metres from 29.0 metres in MQ-20-79;
  • 0.51 g/t Au over 49.5 metres from 140.5 metres in MQ-20-80;
  • 0.59 g/t Au over 114.8 metres from 161.0 metres in MQ-20-82.

High-grade intervals include:

  • 2.38 g/t Au over 10.6 metres in hole MQ-20-67;
  • 1.73 g/t Au over 7.4 metres in hole MQ-20-67;
  • 4.82 g/t Au over 3.4 metres in hole MQ-20-67;
  • 22 g/t Au over 0.4 metre in hole MQ-20-67;
  • 18.4 g/t Au over 2.1 metres in hole MQ-20-73;
  • 2.62 g/t Au over 6.0 metres in hole MQ-20-80;
  • 4.13 g/t Au over 1.8 metres in hole MQ-20-80;
  • 27.7 g/t Au over 1.5 metres in hole MQ-20-81;
  • 3.88 g/t Au over 1.5 metres in hole MQ-20-81;
  • 4.27 g/t Au over 1.5 metres in hole MQ-20-82.

"These results demonstrate the continuity of gold grade in the projected mineralized zone of the Airstrip deposit, on strike and downdip," stated Tara Christie, president and chief executive officer. "Of specific note is MQ-20-67, a 100-metre stepout west of MQ-20-66, which importantly intersects similar gold grades and widths as MQ-20-66 with 0.63 g/t Au over 46 metres from 88.1 m depth. Together these add over 200 metres of strike extent to the AurMac deposit in previously untested areas. Also of note is MQ-20-82, a 125-metre stepout south of MQ-18-34, which importantly intersects similar gold grades and widths as MQ-18-34 with 0.74 g/t Au over 113.0 metres from 63.5 metres depth."

The Airstrip zone is a gold deposit starting from surface, open to expansion to the east, west and downdip that is a potentially open-pit minable bulk-tonnage target that is heavily advantaged by existing transportation infrastructure (main Yukon government highway system), the all-season road to Victoria Gold's Eagle mine, three-phase power lines and cellular communications. At a 0.20 g/t Au cut-off, the pit-constrained, inferred mineral resources are 46.0 million tonnes at an average gold grade of 0.524 g/t for a total of 774,926 ounces of gold.

Drilling at the Airstrip zone in 2020 now totals 3,578 metres (18 holes), with results pending for one hole (hole 83) with locations shown in an image on the company's website. The associated table summarizes the most recent significant assay results received to date, from Banyan's Airstrip zone.

           2020 HIGHLIGHTED DIAMOND DRILL ANALYTICAL RESULTS

Hole ID          From               To         Interval*              Au
                  (m)              (m)               (m)           (g/t)

MQ-20-67         84.8            132.4              47.6            1.02
including        90.9             92.3               1.4            1.14
including       102.7            113.3              10.6            2.38
including       125.0            132.4               7.4            1.73
and             151.5            154.9               3.4            4.82
including       151.5            152.1               0.6            6.77
including       153.6            154.0               0.4            22.2
MQ-20-73         64.0             66.1               2.1            18.4
and             104.2            110.4               6.2            0.69
including       104.2            106.1               1.9            1.20
and             134.3            154.2              19.9            0.30
and             168.2            194.6              26.4            0.19
including       178.3            179.7               1.4            1.11
MQ-20-79          0.0             16.5              16.5            0.53
including         6.9              9.1               2.2            1.42
and              29.0             41.0              12.0            0.55
including        32.0             33.5               1.5            1.64
MQ-20-80         15.0             21.6               6.6            0.48
including        18.8             19.8               1.0            2.03
and             140.5            190.0              49.5            0.51
including       140.5            142.0               1.5            1.45
including       178.0            184.0               6.0            2.62
and             221.5            239.5              18.0            0.23
and             274.0            275.8               1.8            4.13
MQ-20-81         18.3             19.8               1.5            27.7
and              50.5             80.5              30.0            0.42
including        55.0             56.5               1.5            3.88
including        61.0             62.5               1.5            1.00
and             166.0            182.5              16.5            0.31
and             213.9            273.0              59.1            0.14
and             291.5            296.0               4.5            0.61
MQ-20-82        113.0            117.5               4.5            1.79
including       114.5            116.0               1.5            4.27
and             161.0            275.8             114.8            0.59
including       166.1            167.5               1.4            1.14
including       170.5            172.0               1.5            1.68
including       184.5            187.0               2.5            1.46
including       193.5            195.0               1.5            1.99
including       203.5            204.5               1.0            1.45
including       234.0            238.0               4.0            2.76
including       243.5            245.0               1.5            2.51
including       249.5            251.0               1.5            2.92
including       260.0            263.0               3.0            1.82
including       269.0            274.6               5.6            1.72

* True widths are estimated to be greater than 90 per cent of the 
reported intervals.

Powerline zone

On completion of the Airstrip drill holes, drilling commenced at the Powerline zone, culminating in 1,433 metres from seven holes. Similar to exploration efforts at Airstrip, objectives of the Powerline zone drilling are to continue to test the expansion potential of the Powerline zone mineralization.

Powerline lies approximately one kilometre south of Airstrip and shares all the infrastructure of Airstrip, is open to expansion in all directions, and represents another surface or near-surface bulk-tonnage minable target. At a 0.20 g/t Au cut-off, the pit-constrained, inferred mineral resources of Powerline are of 6.6 million tonnes at an average gold grade of 0.61 g/t for a total of 129,019 ounces of gold.

Aurex Hill zone

After drilling was completed at the Powerline zone, 1,800 metres of diamond drilling from 11 holes was completed in the Aurex Hill zone. The objective was to test a portion of the 10-square-kilometre area exhibiting a coincident gold and arsenic soil anomaly, and specifically with these holes an area on strike with the Powerline zone.

Diamond drilling activities continue at AurMac and to date total 6,900 metres from 38 holes.

Analytical method

All drill core splits collected from the 2020 AurMac program were analyzed at Bureau Veritas Minerals of Vancouver, B.C., utilizing the aqua regia digestion ICP-MS 36-element AQ200 analytical package with FA450 50-gram fire assay with AAS (atomic absorption spectroscopy) finish for gold on all samples. All core samples were split on site at Banyan's core processing facilities. Once split, half samples were placed back in the core boxes with the other half of split samples sealed in poly bags with one part of a three-part sample tag inserted within. Samples were delivered by Banyan personnel or a dedicated expediter to the Bureau Veritas, Whitehorse, preparatory laboratory where samples are prepared and then shipped to Bureau Veritas's analytical laboratory in Vancouver, B.C., for pulverization and final chemical analysis. A robust system of standards, one-quarter core duplicates and blanks has been implemented in the 2020 exploration drilling program and is monitored as data became available.

Qualified person

Paul D. Gray, PGeo, vice-president of exploration for the company, is a qualified person as defined under National Instrument 43-101 and has reviewed and approved the content of this news release.

COVID-19 update

Banyan has taken pro-active measures to protect the health and safety of its employees and communities from COVID-19 and exploration activities in 2020 will have additional safety measures in place, following and exceeding all the recommendations made by Yukon's chief medical officer.

About Banyan Gold Corp.

Banyan's primary asset, AurMac, is adjacent to Victoria Gold Corp.'s new Eagle gold mine in Canada's Yukon, which announced commercial production on July 1, 2020. The AurMac initial resource of 903,945 ounces Au was announced in May, 2020. Banyan's major strategic shareholders include Osisko Gold Royalties, Sprott Funds, Alexco Resource Corp. and Victoria Gold. Banyan is focused on gold exploration projects that have the geological potential, size of land package and proximity to infrastructure that are advantageous for a mineral project to have potential to become a mine. Its Yukon-based projects both fit this model and its objective is to gain shareholder value by advancing projects in its pipeline.

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