Ms. Tara Christie reports
BANYAN BEGINS TO DEFINE HIGHER GRADE ZONE AT POWERLINE DEPOSIT, INTERSECTS 1.07 G/T GOLD OVER 34.8 METRES, AURMAC PROPERTY, YUKON
Banyan Gold Corp. has released the analytical results from the first nine diamond drill holes completed during the company's 2022 exploration program at the Powerline deposit, located on the company's AurMac property.
Assay highlights include:
- 32.1 metres ("m") of 0.78 g/t Au from surface (13.7 m) in DDH AX-22-205;
- 34.8 m of 1.07 g/t Au from surface (7.9 m) in DDH AX-22-206;
- 33.9 m of 0.74 g/t Au from 54.2 m in DDH AX-22-207;
- 22.5 m of 1.07 g/t Au from 22.5 m in DDH AX-22-208.
"These initial results from 2022 diamond drilling on the AurMac Property have continued where 2021 drilling left off, definition of higher-grade zones within the expanding mineralization footprint of on/near surface gold mineralization at the Powerline," stated Tara Christie, President and CEO of Banyan. "To date, over 17,000 m of drilling has been completed and Banyan looks forward to steady results through 2022."
Results from these first nine (9) 2022 drill holes are consistent with previous exploration drill results at the Powerline Deposit (see an attached table) and the areal extent of interpreted gold mineralization from near/on-surface continues to expand with each batch of assay results received.
Upcoming Events
Banyan will be attending:
- Vancouver Resource Investment Conference (Cambridge House) - May 17 & 18, 2022:
- Booth and Presentation 1:30 pm PDT, May 17
- PDAC 2022 - Toronto, Ont., June 13-15, 2022Invest Yukon Conference, Dawson City, Yukon, June 21-23, 2022
- All events are subject to change.
2022 Exploration Program Update
Banyan initiated its 2022 exploration program on January 26, 2022, and currently has three drills operating on the property. Seventy-Five (75) drill holes and over 17,000 metres ("m") of drilling has been completed to date which together have expanded the mineralization around the Powerline Zone by over 600 m to the east and 1,000 m west from 2021 drilling. The 2022 program will include approximately 80% of exploration drilling focused on expansion of the mineralization at Powerline and testing the interpreted mineralization connected with the Aurex Hill zone; and a commiserate ~20% targeting high priority regional targets on the AurMac and Nitra Properties.
Analytical Method and Quality Assurance/Quality Control Measures
All drill core splits reported in this news release were analysed by 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, one-fourth core duplicates and blanks was implemented in the 2022 exploration drilling program and was monitored as chemical assay data became available.
COVID-19 Update
Banyan continues to take proactive measures to protect the health and safety of our Yukon communities, our contractors and our employees from COVID 19. Exploration activities will continue to have additional safety measures in place, regularly updated to follow and exceed all the recommendations of Yukon's Chief Medical Officer.
About Banyan
Banyan's primary asset, the AurMac Property is comprised of the Aurex and McQuesten properties, as well as claims staked and owned 100% by Banyan Gold, and adjacent to Victoria Gold's Eagle Gold Mine, in Canada's Yukon Territory. The initial resource for the AurMac Property of 903,945 oz Au (see Table 3 below) was announced in May 2020. Our major strategic shareholders include Franklin Gold and Precious Metals Fund, Osisko Development, and Victoria Gold Corporation. Banyan is focused on gold exploration projects that have the geological potential, size of land package and proximity to infrastructure that is advantageous for a mineral project to have potential to become a mine. Our Yukon based projects both fit this model and our objective is to gain shareholder value by advancing projects in our pipeline.
We seek Safe Harbor.