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

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By A.J. Roan
Mining News 

Banyan expands AurMac to 6.2 million oz

Company adds 2.2 million oz to Yukon project over past year North of 60 Mining News - May 26, 2023


Last updated 6/1/2023 at 11:47am

Aerial photo of the camp at Banyan Gold’s AurMac property in Yukon.

Banyan Gold Corp.

In 2022, Banyan Gold drilled 211 holes in over 50,000 meters of drilling to expand mineralization around its deposits.

Banyan Gold Corp. May 24 announced that it has added more than 2 million additional ounces to its AurMac project in the Yukon over the past year, elevating the current resource to 6.2 million oz of gold.

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, the Aurex and McQuesten properties, or AurMac, is comprised of three deposits – Powerline, Airstrip, and Aurex Hill.

According to a calculation completed in May of last year, the three deposits at AurMac hosted 4 million oz of gold.

However, the more than 50,000 meters completed by Banyan in 2022 have blown those old numbers out of the water.

According to the newest calculation, Airstrip hosts 41.2 million metric tons of pit-constrained inferred resource averaging 0.68 g/t (897,000 oz) gold; Powerline hosts 197.4 million metric tons of pit-constrained inferred resource averaging 0.61 g/t (3.84 million oz) gold; and Aurex Hill now hosts 74.3 million metric tons of pit-constrained inferred resource averaging 0.6 g/t (1.45 million oz) gold.

Recent map showing all drill holes at Banyan Gold’s AurMac property.

Banyan Gold Corp.

Click image to see larger drill map.

"This mineral resource update is an increase of over 2 million ounces or over 50% from the 2022 MRE," said Banyan Gold President and CEO Tara Christie. "This was accomplished with 50,000 metres of drilling completed in a single season."

The biggest growth was at Aurex Hill, which expanded from 215,000 oz in 2022 to nearly 1.5 million oz, once again proving that Banyan's systematic approach to exploration can pay off.

In early March, Banyan kicked off a 2023 drill program that aims to connect Powerline and Aurex Hill, as well as expand these two largest deposits at Aurmac.

"With all three deposits remaining open, Banyan continues to focus on growth and has already drilled 15,000 metres subsequent to this mineral resource update in our ongoing 2023 exploration program," said Christie.


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