Banyan Gold positioned for exciting 2021
Yukon explorer gears up for 15,000-meter program at AurMac North of 60 Mining News – January 8, 2021
Last updated 1/7/2021 at 4:17pm
Banyan Gold Corp. Jan. 6 provided a recap of the milestones achieved during its 2020 program on its AurMac and Nitra gold properties 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.
This resource includes 46 million metric tons of inferred resource averaging 0.52 g/t (774,926 oz) gold in the Airstrip deposit and 6.58 million metric tons of inferred resource averaging 0.61 g/t (129,019 oz) gold in the Powerline deposit.
In June, Banyan launched a 10,362-meter drill program focused on expanding this resource and to demonstrate the higher gold grades AurMac has to offer.
This included 5,732 meters of drilling in 30 holes at Airstrip. Of this drilling, 22 tested strike and down dip extensions of the deposit, and eight tested previously un-drilled areas within the resource area. Another two holes for 355 meters were drilled specifically for metallurgical purposes.
Highlights of 2020 drilling at the Airstrip zone include:
• 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.
Results are pending from 10 of the holes drilled at Airstrip in 2020.
Banyan also completed 3,657 meters of drilling in 19 holes focused on expanding Powerline during 2020.
Highlights of 2020 drilling at Powerline include:
• 129.5 meters of 0.8 g/t gold in AX-20-42.
• 128.5 meters of 0.72 g/t gold in AX-20-43.
• 135 meters of 0.76 g/t gold in AX-20-44.
Banyan says the 2020 step-out holes have expanded Powerline by 500 meters along strike. Assay results from 14 of the Powerline holes are pending.
Assays are also pending for all five holes drilled at Aurex Hill, a prime discovery target related to a large gold-in-soil anomaly east of Powerline.
"Despite difficult operating conditions through our 2020 season, Banyan Gold's team is to be commended for delivering our planned 10,000-meter program on time and on budget and growing our AurMac project," said Banyan Gold President and CEO Tara Christie. "Initial results demonstrate the potential to build on the AurMac Gold resources and position Banyan for an exciting 2021 exploration season."
Going into 2021 with C$5.8 million in its treasury, Banyan plans to complete more than 15,000 meters of drilling at AurMac this year.
"The outlook for gold is favorable going into 2021 and Banyan is uniquely well positioned to leverage this to our shareholders' benefit as we are located proximally to two new mines, Victoria Gold's Eagle Gold mine and Alexco Resource Corporation's high grade silver mine; and demonstrates Yukon as a first-class jurisdiction where mines can be permitted and built – an increasingly rare opportunity in 2021," Christie added.