2021
February 24, 2021
BANYAN GOLD DRILLS 0.92 G/T AU OVER 63.5 M AT AIRSTRIP, FURTHER EXPANDING GOLD MINERALIZATION BY OVER 300 M FROM EXISTING RESOURCE, AURMAC PROPERTY, YUKON
VANCOUVER, B.C, February 24, 2021 – Banyan Gold Corp. (the "Company" or "Banyan") (TSX-V: BYN) is pleased to announce the final 2020 exploration season diamond drill hole results from the Airstrip Zone, AurMac Property, Yukon (Table 1 and Figure 1).
Highlights from this final set of Airstrip results include:
- 0.92 g/t Au over 63.5 metres from 106.0 metres in MQ-20-86
- 0.89 g/t Au over 59.2 metres from 111.0 metres in MQ-20-87
- 0.62 g/t Au over 59.8 metres from 63.7 metres 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.” stated Tara Christie, President and CEO “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. We look forward to 2021 as a transformative year for the Company. Drilling is slated to begin early in March 2021 and it will be a very busy year for Banyan.”
Drill holes MQ-20-85 to MQ-20-89 were located in West Airstrip to follow-up on the promising results of MQ-20-66 and MQ-20-67; where noteworthy grade-width gold mineralization was encountered in Phase 1 2020 drilling (news release September 21, 2020). Consistent with the geological model, the target calcareous schist unit showed significant quartz-calcite-pyrrhotite alteration, a key indicator for gold mineralization at Airstrip. Importantly, 2020 drill results have extended the strike length of the mineral zone by approximately 300 m to the West and also down dip within the conceptual pit limits used to constrain the 2020 Airstrip mineral resource estimation. Further definition of the western strike extent of the Airstrip Deposit will be a high priority for 2021 exploration efforts as the Deposit remains open to the West where a higher-grade trend is interpreted to exist.
Drill holes MQ-20-90 to MQ-20-93 were collared in East Airstrip to test areas down-dip and east of well mineralized 2019 drill results. All of these 2020 drill holes intersected gold mineralization within the target calcareous horizon; further validating the consistency and continuity of the Airstrip geological model. Mineralization remains open down-dip and east of the current Airstrip Deposit.
Drill hole MQ-20-84, an approximately one km step-out along the interpreted eastern strike extension of the favourable mineralized unit, successfully identified anomalous gold mineralization from surface to a depth of approximately 30 m, confirming the Company’s geological interpretation with the intersection of the target calcareous unit (>200 m in width). There has been almost no exploration to the east of the Airstrip Zone, and the results of hole MQ-20-84 confirms Banyan’s interpretation that the eastern strike extension of Airstrip has the potential to host additional near-surface gold mineralization and warrants additional exploration follow up.
Figure 1: Locations of 2020 Drill holes – highlighting location of Phase 2 Drill Collars
Figure 2: Section 466,450E showing highlighted interval from MQ-20-85 and MQ-20-86
Figure 3: Section 466,500E showing highlighted interval from MQ-20-87 and MQ-20-66
Figure 4: Section 467,550E showing highlighted interval from MQ-20-93
Table 1: 2020 Highlighted Diamond Drill Analytical Results
| Hole ID | From
(m) | To
(m) | Interval*
(m) | Au
(g/t) |
| MQ-20-84 | 6.5 | 13.1 | 6.6 | 0.79 |
| Including | 11.0 | 12.5 | 1.5 | 2.41 |
| And | 21.1 | 29.5 | 8.4 | 0.30 |
| Including | 27.8 | 28.2 | 0.4 | 1.87 |
| | | | | |
| MQ-20-85 | 86.5 | 116.0 | 29.5 | 0.42 |
| including | 102.0 | 103.5 | 1.5 | 2.13 |
| including | 104.5 | 105.5 | 1.0 | 1.78 |
| and | 125.6 | 130.0 | 4.4 | 0.68 |
| including | 127.5 | 127.9 | 0.4 | 2.08 |
| | | | | |
| MQ-20-86 | 19.1 | 22.0 | 2.9 | 2.74 |
| and | 79.0 | 89.5 | 10.5 | 0.60 |
| and | 106.0 | 169.5 | 63.5 | 0.92 |
| including | 111.9 | 112.8 | 0.9 | 2.80 |
| including | 132.2 | 134.5 | 2.3 | 1.58 |
| including | 142.0 | 143.0 | 1.0 | 1.81 |
| including | 152.0 | 154.0 | 2.0 | 3.33 |
| including | 156.0 | 158.0 | 2.0 | 1.36 |
| including | 159.0 | 160.0 | 1.0 | 1.27 |
| including | 162.0 | 164.5 | 2.5 | 6.70 |
| including | 167.7 | 168.2 | 0.5 | 6.24 |
| | | | | |
| MQ-20-87 | 111.0 | 170.2 | 59.2 | 0.89 |
| including | 126.8 | 130.5 | 3.7 | 2.04 |
| Including | 145.5 | 147.0 | 1.5 | 1.08 |
| including | 155.0 | 159.5 | 4.5 | 3.97 |
| including | 162.5 | 164.0 | 1.5 | 1.63 |
| including | 168.0 | 168.9 | 0.9 | 2.73 |
| and | 182.0 | 186.7 | 4.7 | 2.03 |
| | | | | |
| MQ-20-88 | 58.5 | 96.9 | 38.4 | 0.22 |
| and | 115.0 | 160.3 | 45.3 | 0.48 |
| including | 115.0 | 116.25 | 1.25 | 2.61 |
| including | 127.5 | 129.0 | 1.5 | 3.57 |
| including | 159.5 | 160.3 | 0.8 | 2.71 |
| | | | | |
| MQ-20-89 | 68.5 | 92.0 | 23.5 | 0.30 |
| including | 81.7 | 83.0 | 1.3 | 1.87 |
| and | 126.5 | 163.4 | 36.9 | 0.56 |
| including | 126.5 | 127.2 | 0.7 | 6.07 |
| including | 145.2 | 146.4 | 1.2 | 1.95 |
| including | 150.1 | 150.9 | 0.8 | 2.79 |
| including | 162.1 | 162.3 | 0.2 | 7.70 |
| including | 163.1 | 163.4 | 0.3 | 10.5 |
| | | | | |
| MQ-20-90 | 43.8 | 113.6 | 69.8 | 0.24 |
| including | 43.8 | 45 | 1.2 | 1.85 |
| Including | 92.0 | 92.6 | 0.6 | 1.24 |
| including | 95.5 | 97.0 | 1.5 | 1.71 |
| and | 181.5 | 186.9 | 5.4 | 0.30 |
| including | 186.2 | 186.9 | 0.7 | 1.45 |
| | | | | |
| MQ-20-91 | 134.1 | 186.2 | 52.1 | 0.30 |
| including | 134.1 | 135.6 | 1.5 | 1.62 |
| including | 137.8 | 138.8 | 1.0 | 4.59 |
| Including | 141.6 | 142.4 | 0.8 | 1.44 |
| including | 145.1 | 145.5 | 0.4 | 2.68 |
| Including | 186.1 | 186.2 | 0.1 | 1.47 |
| and | 206.1 | 215.2 | 9.1 | 0.26 |
| | | | | |
| MQ-20-92 | 130.7 | 146.0 | 15.3 | 0.55 |
| including | 130.7 | 133.0 | 2.3 | 1.97 |
| including | 141.6 | 143.0 | 1.4 | 1.06 |
| and | 156.4 | 170.9 | 14.5 | 0.39 |
| including | 168.1 | 170.9 | 2.8 | 1.49 |
| and | 213.5 | 239.8 | 26.3 | 0.23 |
| | | | | |
| MQ-20-93 | 63.7 | 123.5 | 59.8 | 0.62 |
| including | 74.2 | 76.7 | 2.5 | 2.05 |
| including | 83.8 | 85.3 | 1.5 | 1.97 |
| including | 106.3 | 107.7 | 1.4 | 16.3 |
* True widths are estimated to be greater than 90% of the reported intervals.
Results of AX-20-58 to AX-20-65 holes from the 2020 exploration season remain pending and the results to date continue to validate the AurMac geological model.
Analytical Method
All drill core splits collected from the 2020 AurMac program were analyzed at Bureau Veritas Minerals of Vancouver, B.C. utilizing the aqua regia digestion ICP-MS 36-element AQ200 analytical package with FA450 50-gram Fire Assay with AAS finish for gold on all samples. All core samples were split on-site at Banyan’s core processing facilities. Once split, half samples were placed back in the core boxes with the other half of split samples sealed in poly bags with one part of a three-part sample tag inserted within. Samples were delivered by Banyan personnel or a dedicated expediter to the Bureau Veritas, Whitehorse preparatory laboratory where samples are prepared and then shipped to Bureau Veritas’s Analytical laboratory in Vancouver, B.C. for pulverization and final chemical analysis. A robust system of standards, ¼ core duplicates and blanks was implemented in the 2020 exploration drilling program and was monitored as chemical assay data became available.
Upcoming Events and Catalysts
Q1 2020 – Drill results from 2020 program
Q1 2020 – Resume drilling at AurMac Property
March 1-5, 2021 – BMO Online Conference
March 8-11, 2021 – PDAC Virtual Convention – Banyan Booth
March 8-11, 2021 – PDAC Core Shack
March 9-10, 2021 – PDAC One-on-One Virtual Convention (in partnership with Precious Metals Summit)
March 17, 2021 – European Family Office Investor Event
March 30, 2021 – Webinar with Adelaide Capital
May 6, 2021 – Mines and Money Roadshow (APAC)
May 13, 2021 – Mines and Money Roadshow (EMEA)
May 20, 2021 – Mines and Money Roadshow (Americas)
Additional details for these events on our website: www.banyangold.com
Qualified Person
Paul D. Gray, P.Geo., Vice President of Exploration for the Company, is a “qualified person” as defined under NI 43-101 and has reviewed and approved the content of this news release. ......Bluetick