North of 60 Mining News - The mining newspaper for Alaska and Canada's North

North of 60 Mining News - Mining Business directory

By Shane Lasley
Mining News 

Banyan expands gold on Yukon properties

Nearly 1 million oz in two shallow Aurex-McQuesten deposits

 

Last updated 9/21/2020 at 2:05pm

Banyan Gold exploration drilling at Aurex ‎McQuesten near Eagle Mine Yukon

Banyan Gold Corp.

A rig being set up for 2019 gold resource drilling at AurMac.

Banyan Gold Corp. May 25 announced a 903,945-ounce inferred gold resource for AurMac, the new name for the company's combined Aurex ‎and McQuesten properties in the Yukon.

A road accessible project about 56 kilometers (35 miles) northeast of Mayo and roughly 10 kilometers (six miles) south of Victoria Gold Corp.'s Eagle gold mine, AurMac hosts at-surface deposits – Airstrip and Powerline – along with other drill-ready targets.

Banyan's drilling over the previous two years has focused on building resources at Airstrip and Powerline.

This work has outlined 46 million metric tons of inferred resource at Airstrip averaging 0.52 grams per metric ton (774,926 oz) gold and 6.58 million metric tons of inferred resource averaging 0.61 g/t (129,019 oz) gold at Powerline, for a combined 52.58 million metric tons of inferred resource averaging 0.54 g/t (903,945 oz) gold.

Banyan Gold Aurex ‎McQuesten exploration map near Eagle Mine Yukon

Banyan Gold Corp.

"We are excited with the value this initial Mineral Resource estimate generates for our shareholders, particularly given the modest exploration expenditures by Banyan, generating ounces at less than C$2 per ounce. Both deposits are open, with mineralization known to extend beyond the current block model boundaries," said Banyan Gold President and CEO Tara Christie. "Further, examination of the Airstrip mineral resource model highlights its robust nature; when the cut-off grade is increased by 50%, to 0.3 g/t, less than 15% of the ounces are reduced; while, the grade increases by more than 20% to an average of 0.65 g/t. Additionally, the deposit model exercise has identified a series of drill targets, which we are confident will meaningfully build upon this initial mineral resource."

With roughly C$740,000 in cash, Banyan is funded for further drilling to expand the resource and increase the grade at AurMac this year.

Author Bio

Shane Lasley, Publisher

Over his more than 13 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.

Email: [email protected]
Phone: (907) 726-1095
https://www.facebook.com/miningnewsnorth

 

Reader Comments
(0)

 
 

Our Family of Publications Includes:

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2020

Rendered 11/24/2020 11:20