Ms. Tara Christie reports
BANYAN GOLD DRILLS 98 METERS OF 0.71 G/T GOLD; CONTINUES TO CONFIRM CONSISTENT MINERALIZATION ACROSS AIRSTRIP ZONE - AUREX-MCQUESTEN GOLD PROJECT, YUKON
Banyan Gold Corp. has released results from the next four diamond drill holes of the recently completed 3,385-metre (26 holes) phase 2 diamond drill program on the company's Aurex-McQuesten gold project near Mayo, Yukon. Phase 2 drilling was designed to expand the strike length of the mineralization of Airstrip block 1, from 500 metres to one kilometre. These four holes, MQ-19-54 through 56 and MQ-19-64, extend and infill Airstrip mineralization over the first 250 metres east of this new zone from block 1 and further validate the McQuesten mineralization geologic model.
East Airstrip target returns broad intervals of gold mineralization including:
- 98 metres of 0.71 gram per tonne gold in MQ-19-54;
- 53 m of 0.31 g/t Au in MQ-19-55;
- 75 m of 0.47 g/t Au in MQ-19-56;
- 45 m of 0.26 g/t Au in MQ-19-64.
East Airstrip target high-grade highlights include:
- 1.5 m of 7.77 g/t Au in MQ 19-54;
- 3.0 m of 4.76 g/t Au in MQ 19-54;
- 0.2 m of 16.9 g/t Au in MQ-19-56.
"Airstrip zone results continue to build out consistent, long intervals of near-surface gold mineralization within the host unit defined by Bayan's geologic model. Each successive drill hole in this new area meaningfully adds tonnage combined with higher-grade zones within a previously undrilled portion of the growing Airstrip zone," stated Tara Christie, president and chief executive officer of Banyan.
Block 1 was defined at the Airstrip zone in 2018, and outlines approximately 500 metres of strike length of a well-behaved, about 90 m thick prospective lithological package preferentially mineralized with gold which exists near and on surface. These latest drill holes, together with previously announced drill holes MQ-19-52 and MQ-19-53 (see company news release of Dec. 2, 2019) represent continued stepout drill fence lines nominally spaced at 100 m intervals along trend of the postulated Eastern extent of block 1. This phase 2 drill program tested an area approximately 400 m east of block 1 of the Airstrip zone mineralized trend.
DRILL HOLE HIGHLIGHTS
Hole ID From To Interval Au
(m) (m) (m)* (g/t)
MQ-19-54 21.5 119.5 98 0.71
including 22.6 25 2.4 3.42
including 46.3 47.8 1.5 7.77
including 50 51.3 1.3 1.47
including 55.5 56.8 1.3 1.43
including 79.5 82.5 3 4.76
including 84 85.5 1.5 1.31
including 87 91.5 4.5 1.71
including 109.5 111 1.5 0.95
including 118.4 119.5 1.1 3.04
and 144.9 150 5.1 0.56
including 147.5 149 1.5 1.07
MQ-19-55 4.6 57.9 53.3 0.31
including 7.6 9.1 1.5 2.11
including 22.6 23.7 1.1 2.77
including 38.7 39.6 0.9 1.42
and 112.2 114.7 2.5 5.91
and 137.4 138.7 1.3 1.29
MQ-19-56 12.2 86.7 74.5 0.47
including 12.2 13.7 1.5 2.33
including 33.5 35.1 1.6 1.12
including 36 37.1 1.1 1.98
including 38.7 40.3 1.6 4.3
including 56.8 58.3 1.5 1.91
including 79.3 80.8 1.5 0.99
including 82.3 83.3 1 1.45
including 85.3 86.7 1.4 1.47
and 127.1 141.6 14.5 0.87
including 131 132.3 1.3 1.36
including 134 134.2 0.2 16.9
including 138.5 140.1 1.6 1.95
MQ-19-64 43 88.2 45.2 0.26
including 43 43.5 0.5 1.81
including 87.4 88.2 0.8 3.31
* True widths are estimated to be greater than 90 per cent of
the reported intervals.
Holes MQ19-46, 52 through 56 and MQ-19-64 (see news release dated Dec. 2, 2019) add 250 m of continuous mineralization to the eastern boundary of block 1 mineralization. In addition to this increased mineralized strike extension, the mineralization remains open downdip.
Sections and plan maps of results will be made available on the company website.
About Aurex-McQuesten
The Aurex-McQuesten property is just 40 km from Victoria Gold Corp.'s Eagle gold mine and adjacent to Alexco Resource Corp.'s highly mineralized Keno Hill silver. The Airstrip and Powerline zones are located just off the main Yukon government highway between Mayo and Keno. The property has numerous historic exploration roads and trails and has cellphone coverage. The three-phase power line from the hydroelectric dam in Mayo passes through the property, as well as, the switching station and spur power line to Victoria Gold. There is an existing airstrip on the property and the Mayo airport is a 20-minute drive on the highway from the property.
Technical Information
The technical information in this news release has been reviewed and approved by Paul D. Gray, PGeo, a qualified person as defined by National Instrument 43-101.
Analytical method
All drill core and trench samples collected from the 2019 Aurex-McQuesten program were analyzed at Bureau Veritas Minerals of Vancouver, B.C., utilizing the aqua regia digestion ICP-MS (inductively coupled plasma mass spectrometry) 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 in Elsa, Yukon. 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-fourth core duplicates and blanks was implemented in the 2019 exploration drilling program and was monitored as chemical assay data became available.
About Banyan Gold Corp.
Banyan Gold is focused on gold exploration projects that have the geological potential, size of land package and proximity to infrastructure that is advantageous for a mineral project to have potential to become a mine. The company's Yukon-based projects both fit this model and the company's objective is to gain shareholder value by advancing projects in its pipeline.
We seek Safe Harbor.
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