Banyan Gold Corp. Nov. 16 reports that recent assay results demonstrate the expansion potential of the Powerline zone on the company's AurMac gold property in the Yukon.

A road accessible project about 56 kilometers (35 miles) northeast of Mayo and roughly 40 kilometers (25 miles) south of Victoria Gold Corp.'s Eagle gold mine, AurMac hosts at-surface deposits – Airstrip and Powerline – along with other drill-ready targets.

According to a May calculation AurMac hosts 52.58 million metric tons of inferred resource averaging 0.54 grams per metric ton (903,945 oz) gold. Powerline hosts 6.58 million metric tons of this resource averaging 0.61 g/t (129,019 oz) – the balance is contained within the Airstrip deposit about 1,000 meters to the north.

"The near surface Powerline deposit grades 0.61 g/t gold, comparable to the resource grade of 0.63 g/t of Victoria Gold's producing Eagle Gold Mine, which is just 40 kilometers away," said Banyan Gold President and CEO Tara Christie.

Highlights from the first batch of assay results from five resource expansion holes drilled at Powerline include:

• 30.5 meters averaging 0.47 g/t gold from a depth of 43 meters in hole AX-20-41.

• 29.8 meters averaging 0.8 g/t gold from 129.5 meters in AX-20-42.

• 128.5 meters averaging 0.72 g/t gold from 82 meters in AX-20-43.

• 13 meters averaging 0.76 g/t gold from 135 meters in AX-20-44.

• 27 meters averaging 0.46 g/t gold from 12 meters in AX-20-45.

These longer bulk tonnage gold intercepts included shorter sections of higher grade gold mineralization such as 1.5 meters of 3.74 g/t gold in AX-20-41; 3.4 meters of 5.5 g/t gold in AX-20-43; and 1.5 meters of 5.15 g/t gold in AX-20-45.

Each of the five holes reported represent a 100-meter step out from the Powerline resource calculated earlier this year, representing a total expansion of the deposit footprint by 500 meters.

"These results demonstrate that the gold mineralization at the Powerline Zone is part of a much larger gold system than captured in the 2020 Powerline deposit resource model," said Christie. "Powerline was a 2019 discovery and reinforces the near-surface gold potential of the larger AurMac property."

After drilling seven holes during the first pass of 2020 drilling at Powerline, Banyan drilled 10 holes at Aurex-Hill Zone, a prime discovery target between a gold-in-soils anomaly at Aurex Hill and the Powerline zone.

Drilling, which is slated to continue until mid-December, is currently focused on the Airstrip Zone and will be followed by follow-up drilling on the Powerline Zone based on the strength of the 2020 Powerline assays received to date.

Banyan Gold Corp.

Five holes drilled this year have traced gold mineralization for 500 meters south of the Powerline deposit at AurMac.

Highlights of 2020 drilling completed earlier this year at the Airstrip zone include: 46 meters of 0.63 g/t gold in hole MQ-20-66; 47.7 meters of 1.02 g/t gold in MQ-20-67; 116.4 meters of 0.75 g/t gold in MQ-20-71; 32.5 meters of 0.75 g/t gold in MQ-20-76; 20.5 meters of 0.82 g/t gold in MQ-20-77; 65.2 meters of 0.64 g/t gold in MQ-20-78; 114.8 meters of 0.59 g/t gold in MQ-20-82.

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Shane Lasley, Publisher

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