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Banyan connects dots to expand AurMac

Mining Explorers 2022 - January 19, 2023

Looking to add to the 4 million ounces of gold it has already outlined at AurMac, Banyan Gold Corp.'s 2022 drill program systematically expanded the footprint of the Powerline and Aurex Hill deposits on this road-accessible project in the Yukon.

Located about 40 kilometers (25 miles) south of Victoria Gold Corp.'s Eagle Gold Mine and adjacent to Hecla Mining Company's Keno Hill Silver District, AurMac began 2022 with just under 1 million oz of gold in two deposits – Powerline and Airstrip.

The systematic drilling carried out by Banyan since the 2020 calculation, however, added 3 million oz of gold to the resource.

According to an estimate published in May, Airstrip hosts 42.5 million metric tons of pit-constrained inferred resource averaging 0.64 grams per metric ton (874,000 oz) gold; Powerline hosts 152 million metric tons of pit-constrained inferred resource averaging 0.59 g/t (2.9 million oz) gold; and Aurex Hill hosts 12.5 million metric tons of pit-constrained inferred resource averaging 0.53 g/t (215,000 oz) gold.

"This resource estimate demonstrates the value generated by Banyan with 40,000 metres of drilling adding over 3 million ounces of inferred mineral resources," said Banyan Gold President and CEO Tara Christie during the announcement. "All three deposits are open, with mineralization known to extend beyond the current block model boundaries."

The newest resource now factors in Aurex Hill, which was not a part of its previous estimate.

Toward the goal of pushing the AurMac gold resource to above 6 million oz, Banyan completed more than 50,000 meters of drilling in more than 200 holes targeting the expansion and apparent connection of the Powerline and Aurex Hill deposits, which previously lay roughly 1,200 meters apart.

While at least 80% of the 2022 drilling focused on expansion of the mineralization at Powerline and the connecting Aurex Hill deposit, the remaining 20% tested high-priority regional targets on the AurMac and adjacent Nitra property.

Highlights from the results at Powerline include:

175.8 meters averaging 0.57 g/t gold in AX-22-224.

177.9 meters averaging 0.47 g/t in hole DDH AX-22-251.

114.1 meters averaging 0.52 g/t gold in DDH AX-22-252.

40.5 meters averaging 0.86 g/t gold in DDH AX-22-22-257.

31.8 meters averaging 1.8 g/t gold in DDH AX-22-258.

145.8 meters averaging 0.52 g/t gold in DDH AX-22-277.

30.9 meters averaging 1.27 g/t gold in DDH AX-22-293.

64.4 meters averaging 0.81 g/t gold in DDH AX-22-313.

84.4 meters averaging 1.13 g/t gold in DDH AX-22-320.

71.5 meters averaging 0.92 g/t gold in DDH AX-22-339.

Much like 2021, the extensive and systematic 100-meter step-out method has continued to rapidly expand the gold mineralized footprint at Powerline and Aurex Hill.

"Both deposits remain open, with impressive results from the furthest north-eastern hole drilled in Powerline (AX-22-320) which returned an impressive 1.13 g/t gold over 84.4 meters," Christie said in November. "The 2022 drilling programs have now been completed for the season – with over 50,000 meters of core drilled."


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