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Larger phase 2 drilling at Aurex-McQuesten

 

October 4, 2019

Banyan Gold Corp.

This drill is being set up for one of the eight holes drilled during Banyan Gold's initial phase of 2019 drilling at the Aurex-McQuesten gold property in the Yukon.

Banyan Gold Corp. Oct. 2 announced a second phase of 2019 drilling at Aurex-McQuesten, a Yukon gold project about 10 kilometers (six miles) south of Victoria Gold Corp.'s Dublin Gulch property.

The 997-meter initial phase of 2019 drilling at Aurex-McQuesten focused on infill drilling at the Airstrip (formerly referred to as McQuesten) gold zone and discovery drilling at Powerline, a gold discovery zone about 1,000 meters south of Airstrip.

The Powerline discovery holes cut high-grade gold sections within longer intercepts of bulk tonnage mineralization.

Highlights from the four holes drilled at Powerline earlier this year include:

• 109.7 meters of 0.36 grams per metric ton gold from a depth of 25.9 meters in AX-19-30, including 6.6 meters of 2.89 g/t gold;

• 85.8 meters of 0.48 g/t gold in AX-19-31, including 4.6 meters of 1.42 g/t gold from 30.5 meters; and

• 47.2 meters of 0.64 g/t gold in AX-19-33, including 4.42 meters of 1.24 g/t gold from 49.6 meters.

The four holes drilled at Airstrip returned similar results, including

• 71.4 meters of 0.94 g/t gold in MQ-19-44, including 8.8 meters of 3.1 g/t gold;

• 5.3 meters of 5.01 g/t gold in MQ-19-42; and

• 11.8 meters of 3.23 g/t meters in MQ-19-43.

"The Powerline discovery of 2019 represents an entirely new, but genetically related area of potentially broad, near-surface gold mineralization at Aurex-McQuesten," said Banyan Gold President and CEO Tara Christie. "This area has the potential to greatly increase the gold mineralization footprint on the project and could meaningfully add tonnage to the mineralized gold zones known on the property."

The 3,500-meter second phase of 2019 drilling campaign will target the expansion of the Airstrip zone from a drill defined length of 500 meters to more than 1,000 meters; and step out drilling to expand the Powerline discovery.

The fall 2019 drill program is expected to be completed by mid-November and results are expected to be included in a maiden NI 43-101-compliant gold resource over the winter.

The Airstrip zone lies just 100 meters west of the main Yukon Government highway between the communities of Mayo and Keno and just north of the all-season road to Victoria Gold's Eagle Gold Mine.

Additionally, a powerline from the hydroelectric dam in Mayo passes through the Aurex-McQuesten property.

This infrastructure provides year-round access to the property improves logistics and lowers costs for exploration, and could also benefit future mine development and operations on this emerging gold property.

Banyan Gold is currently in the midst of two concurrent financings to raise up to C$1.75 million to fund the ongoing exploration at Aurex-McQuesten and for general working capital.

–SHANE LASLEY

 

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