2021 drilling at Powerline is designed to test the near-surface gold mineralization to a total area of over 900,000 m3, stepping out in all directions from the existing 160,000 m3 of the existing Powerline resource.
“We have continued to expand the drill grid around the Powerline, building upon the known mineralization rapidly and efficiently; and importantly, have intersected gold mineralization in all directions.” stated Tara Christie, President and CEO.
As of May 9, 2021, Banyan has completed over 31 drill holes for >6,300 m on the Powerline Zone of the AurMac property.
utilizing their GE_IMS21B20 analytical package which comprises a two-acid aqua regia digestion followed by a 36-element ICP-MS scan, in conjunction with the GE_FAA30V5 30g Fire Assay with AAS finish for gold on all samples.
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.
The 173 sq km AurMac Property lies 30 km from Victoria Gold’s Eagle Project and adjacent to Alexco ‘s Keno Hill Silver District and is highly prospective for structurally controlled, intrusion related gold-silver mineralization.
The 2020 Initial Mineral Resource Estimate prepared in accordance with National Instrument 43-101 guidelines for the AurMac Property is 903,945 ‎ounces of gold.
The Hyland Gold Project, located 70 km NE of Watson Lake, Yukon, along the Southeast end of the Tintina Gold Belt is a sediment hosted, structurally controlled, intrusion related gold deposit, with a large land package daylighting at surface and numerous other known surface gold targets.
Table 3 shows the Hyland Main Zone Indicated Gold Resource Estimate, prepared in accordance with NI 43-101, at a 0.3 g/t gold equivalent cutoff, contains 8.6 million tonnes grading 0.85 g/t AuEq for 236,000 AuEq ounces with an Inferred Mineral Resource of 10.8 million tonnes grading 0.83 g/t AuEq for 288,000 AuEq ounces.
Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, uncertainties inherent in resource estimates , capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, enhanced risks inherent to conducting business in any jurisdiction, and those risks set out in Banyan’s public documents filed on SEDAR.
Statements in this news release regarding Banyan which are not historical facts are “forward-looking statements” that involve risks and uncertainties.