Enormous AurMac gold expansion targets
Drills identify areas to extend the Airstrip, Powerline deposits North of 60 Mining News – February 26, 2021
Last updated 2/25/2021 at 2:06pm
Banyan Gold Corp. Feb. 24 announced the final assay results from a 2020 drill program that significantly expanded the footprint of gold mineralization at AurMac, a road accessible project about 56 kilometers (35 miles) northeast of Mayo, Yukon and roughly 40 kilometers (25 miles) south of Victoria Gold Corp.'s Eagle gold mine.
According to a May calculation, two at-surface deposit at AurMac host 52.58 million metric tons of inferred resource averaging 0.54 grams per metric ton (903,945 oz) gold.
This 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 testing targets outside the resource areas.
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 previously published results from the 2020 drilling at Airstrip include: 46 meters averaging 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; and 65.2 meters of 0.64 g/t gold in MQ-20-78.
Highlights from Banyan's final batch of assays from 2020 drilling at Airstrip include: 63.5 meters averaging 0.92 g/t gold in hole MQ-20-86; 59.2 meters averaging 0.89 g/t gold in MQ-20-87; and 63.7 meters averaging 0.62 g/t gold in MQ-20-93.
"Successful step-out drilling along strike to the east, west and down-dip has shown that 2020 drilling added significantly to the mineralized volume of the Airstrip deposit and defined continuity of mineralization in all directions," said Banyan Gold President and CEO Tara Christie. "Significantly, MQ-20-66, MQ-20-67, MQ-20-86 and MQ-20-87 have identified the continuation of the Airstrip mineralized trend which remains open down-dip to the south and, in particular, to the west where the mineralization is showing consistent higher grade."
Banyan also completed 3,657 meters of drilling in 19 holes that extended Powerline east to the new Aurex Hill mineralized zone.
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; 38.3 meters of 0.69 g/t gold in AX-20-46; 40 meters of 1.09 g/t gold in AX-20-47; and 20.5 meters of 0.91 g/t gold in AX-20-54.
This drilling indicates the Powerline resource extends to Aurex Hill, which lies roughly 1,200 meters to the east, for a total gold mineralized area that extends roughly 2,500 meters.
"These results, along with our previous and historical results demonstrate that the AurMac mineralized system extends over 2.5 kilometers (1.6 miles) including Powerline and Aurex Hill," said Christie.
Earlier this month, Banyan reported results from three additional holes drilled north and south of AX-20-54, the easternmost hole connecting Powerline to Aurex Hill. All of these holes encountered gold mineralization, including 17.9 meters of 1.11 g/t gold in AX-20-57, which was drilled north of AX-20-54.
"Banyan has again successfully applied the AurMac mineralization model to explore a highly prospective zone that has never before been tested. We believe these early holes may link the Powerline zone to the Aurex Hill zone," Christie said.
With C$5.8 million in its treasury going into 2021, Banyan plans to complete more than 15,000 meters of drilling at AurMac this year.
"We look forward to 2021 as a transformative year for the company," said the Banyan Gold CEO. "Drilling is slated to begin early in March 2021, and it will be a very busy year for Banyan."