Banyan Drills 39.7 metres of 1.92 grams per tonne gold, Powerline Deposit, AurMac Project, Yukon, Canada

Rhea-AI Summary

Banyan Gold Corp (TSXV:BYN)(OTCQB:BYAGF) has announced results from thirteen diamond drillholes at its Powerline Deposit within the AurMac Project, Yukon Territory. Notable findings include intersections of 39.7 metres of 1.92 g/t gold and 40.5 metres of 1.43 g/t gold.

The 2024 drilling program has identified high-grade gold zones both near surface and at depth, confirming mineralization between the Airstrip and Powerline deposits. The company reports that both deposits remain open for expansion in all directions. The AurMac Project currently holds an inferred Mineral Resource Estimate of 7.0 million ounces of gold as of February 6, 2024, contained within the Airstrip and Powerline deposits.

The project, spanning 173 square kilometres, is located 40 km from Mayo, Yukon, with access to main highway infrastructure and power facilities.

Positive

• Strong drill results including 39.7m of 1.92 g/t Au and 40.5m of 1.43 g/t Au
• Large inferred resource of 7.0 million ounces of gold
• Confirmation of mineralization between Airstrip and Powerline deposits
• Deposits remain open for expansion in all directions
• Project has excellent infrastructure with highway access and power facilities

Negative

• Resource remains in inferred category, requiring additional work to upgrade
• Gold grade is relatively low-grade at 0.63 g/t average for total resource

VANCOUVER, BC / ACCESS Newswire / February 4, 2025 / Banyan Gold Corp. (the "Company" or "Banyan") (TSXV:BYN)(OTCQB:BYAGF) is pleased to announce analytical results from thirteen (13) diamond drillholes collared within the Powerline Deposit located on the Company's AurMac Project, Yukon Territory. This set of holes targeted the central portion of the Powerline Deposit (Figures 1 and 2) as part of the 2024 AurMac definition drilling program.

Highlights from these most recent analytical results include:

• AX-24-595: 31.2 metres ("m") of 0.68 g/t Au from 17.5 m

• AX-24-595: 39.7 m of 1.92 g/t Au from 72.3 m

• AX-24-596: 45.0 m of 0.53 g/t Au from 85.6 m

• AX-24-622: 12.6 m of 1.60 g/t Au from 318.5 m

• AX-24-624: 79.2 m of 0.52 g/t Au from 79.3 m

• AX-24-626: 40.5 m of 1.43 g/t Au from 94.8 m

• AX-24-627: 32.0 m of 1.56 g/t Au from 41.21 m

• AX-24-628: 66.4 m of 0.69 g/t Au from 82.3 m

• AX-24-631: 46.6 m of 0.51 g/t Au from 43.4 m

• AX-24-633: 33.2 m of 0.73 g/t Au from 133.0 m

"The 2024 drilling program of the Powerline Deposit has clearly defined high-grade gold zones, both on/near-surface and to depth," stated Tara Christie, President and CEO. "These results have confirmed gold mineralization in the area between Airstrip and Powerline. This largely undrilled section separating the two deposits could add significant high-grade gold ounces with further drilling. Holes 622, 627 and 625 from this gap area returned grades of 1.6 g/t over 12.5m,1.56 g/t over 32m and 1.55 g/t over 5.5 m, respectively, with additional mineralization observed throughout these holes. This facilitates the creation of a larger mining pit integrating both Powerline and Airstrip. The Powerline and Airstrip Deposits remain open to expansion in all directions."

Summarized analytical results of these drillhole assays are presented in Table 1, collar locations in Table 2 and Figure 2 identifies drill collar locations.

Figure 1: AurMac Diamond Drill Grade Thickness Intervals Map. The calculation utilized for the presentation is Au Grade (g/t) x Interval (m). The grade thickness map was calculated using ESRI kernel density method. Where a drillhole has multiple intervals, the highest interval is used in the calculation. Map A: presents all analytical results to January 2024. Map B: presents an update of all analytical results through this February 4, 2025 news release.

The Powerline Deposit is contained within a metasedimentary package which consists of predominately schists, quartzites and limestones of the Late Proterozoic to Cambrian age Hyland Group. Gold mineralization here is chiefly associated with low angle quartz-sulfosalt-arsenopyrite veins seen crosscutting all lithologies and is interpreted to be associated with a large intrusion related gold system typical of the Tombstone Gold Belt and Selwyn Basin gold deposits.

Figure 2:AurMac drillhole locations. Location of historic and Banyan completed diamond drillholes used in the Mineral Resource Estimate ("MRE")* (black and blue dots) and collar locations of 2024 drilling (yellow, red and green dots).

*MRE effective date of February 6, 2024, details in Table 3.

Table 1: Highlighted Powerline Diamond Drill Analytical Results.

Hole ID	From (m)	To (m)	Interval (m*)	Au (g/t)
AX-24-587	47.8	48.1	0.3	17.30
and	64.2	80.6	16.4	0.59
including	75.3	80.6	5.3	1.66
and	98.9	102.0	3.1	5.03
and	116.7	126.3	9.6	0.39
and	163.1	164.0	0.9	5.14
AX-24-595	17.5	48.7	31.2	0.68
and	72.3	112.0	39.7	1.92
and	142.8	161.4	18.6	0.34
AX-24-596	86.6	131.6	45.0	0.53
and	171.4	187.7	16.3	0.32
AX-24-622	262.1	264.2	2.1	1.52
and	299.1	306.8	7.7	0.33
and	318.5	331.1	12.6	1.60
including	318.5	322.2	3.7	5.00
and	344.7	351.1	6.4	0.59
AX-24-624	26.3	38.4	12.1	0.49
and	79.3	158.5	79.2	0.52
AX-24-625	92.3	107.0	14.7	0.38
and	118.8	124.2	5.5	1.55
and	138.1	151.1	13.1	0.48
AX-24-626	14.0	20.0	6.0	0.33
and	51.3	59.1	7.8	0.41
and	94.8	135.3	40.6	1.43
AX-24-627	41.2	73.2	32.0	1.56
and	101.4	109.4	8.0	1.24
AX-24-628	52.1	65.8	13.7	0.36
and	82.3	148.7	66.4	0.69
including	116.1	123.8	7.7	1.71
and	163.7	182.9	19.2	0.30
AX-24-630	86.0	95.0	9.0	1.20
AX-24-631	43.4	90.0	46.6	0.51
and	118.5	149.1	30.6	0.30
AX-24-633	96.0	102.3	6.3	0.45
and	133.0	166.2	33.2	0.73
and	197.1	202.1	5.0	0.48
and	216.2	216.6	0.4	18.80
AX-24-634	66.8	76.0	9.2	0.39
and	86.5	106.3	19.8	0.37
and	136.3	143.1	6.8	0.40

*True widths are estimated to be approximately 90% of drilled intervals.

Table 2: Drill Collar Location for Released Results

Collar ID	East NAD83_Z8	North NAD83_Z8	Elev. (m)	Azimuth	Dip (°)	Depth (m)
AX-24-587	467051	7082852	783	004	-59	213.3
AX-24-595	466951	7082747	779	006	-58	188.9
AX-24-596	467050	7082555	796	348	-61	208.7
AX-24-622	466751	7083600	754	007	-61	368.8
AX-24-624	466950	7082657	788	349	-58	161.5
AX-24-625	466756	7083484	773	098	-59	208.7
AX-24-626	467114	7082607	797	001	-88	185.6
AX-24-627	466751	7083399	775	003	-59	161.2
AX-24-628	466853	7082643	781	004	-58	182.8
AX-24-630	466750	7082646	776	354	-59	194.4
AX-24-631	467040	7083157	781	354	-59	173.7
AX-24-633	466652	7082645	771	000	-60	228.6
AX-24-634	467098	7082975	780	354	-59	161.5

Upcoming Events

• Yukon Mining Alliance Vancouver Investor Day, February 19, 2025

• BMO 33rd Global Metals, Mining & Critical Minerals Conference, February 23 - 26, 2025

• Tombstone Gold Rush Breakfast - Fireside Chat - Toronto, March 3, 2025

  • 7AM to 9 AM EST

• PDAC, Toronto, March 2 - 5, 2025

  • Exhibitor Booth No. 2213, March 2 - 3

• SMI Conference, Zurich, March 18 - 19, 2025

Analytical Method and Quality Assurance/Quality Control Measures

All drill core splits reported in this news release were analysed by Bureau Veritas of Vancouver, B.C., utilizing the aqua regia digestion ICP-MS 36-element AQ-200 analytical package with FA-450 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, ½ core duplicates and blanks was implemented in the 2024 exploration drilling program and was monitored as chemical assay data became available.

Qualified Persons

Paul D. Gray, P.Geo., is a "qualified person" as ‎defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101"), and has reviewed and approved the content of this news release.‎ Mr. Gray is a consultant to Banyan and has verified the data disclosed in this news release, including the sampling, ‎‎analytical and test data underlying the information.

About Banyan

Banyan's primary asset, the AurMac Project is located in Canada's Yukon Territory. The current inferred Mineral Resource Estimate ("MRE") for the AurMac Project of 7.0 million ounces has an effective date of February 6, 2024.

The 173 square kilometres ("sq km") AurMac Project lies 40 km from Mayo, Yukon. The AurMac Project is transected by the main Yukon highway and benefits from a 3-phase powerline, existing power station and cell phone coverage. Banyan has the right to earn up to a 100% interest, in both the Aurex and McQuesten Properties respectively, subject to certain royalties.

The inferred MRE for the AurMac Project was prepared on February 6, 2024, and consisted of 7,003,000 ounces of gold (see Table 3) hosted within near surface, road accessible pit constrained Mineral Resources contained in two near/on-surface deposits: the Airstrip and Powerline Deposits.

Table 3: Pit-Constrained Inferred Mineral Resources - AurMac Project

Deposit	Gold Cut-Off (g/t)	Tonnage (Tonnes)	Average Gold Grade (g/t)	Contained Gold (oz.)
Inferred
Airstrip	0.30	35,243,000	0.75	845,000
Powerline	0.30	312,243,000	0.61	6,158,000
Total Combined	0.30	347,486,00	0.63	7,003,000

Notes: ‎

1. The effective date for the MRE is February 6, 2024, and was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., an independent Qualified Person in accordance with the requirements of NI43-101. The technical report supporting the Resource Estimate entitled "AurMac Property, Mayo Mining District, Yukon Territory, Canada" (the "Technical Report") has been filed on SEDAR at www.sedarplus.ca on March 18, 2024.

2. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes in global gold markets or other relevant issues.

3. The CIM Definition Standards were followed for classification of Mineral Resources. The quantity and grade of reported Inferred Mineral Resources in this estimation are uncertain in nature ‎and there has been insufficient exploration to define these Inferred Mineral Resources as an ‎Indicated Mineral Resource and it is uncertain if further exploration will result in upgrading them to an ‎Indicated or Measured Mineral Resource category.

4. Mineral Resources are reported at a cut-off grade of 0.30 g/t gold for all deposits, using a US$/CAN$ exchange rate of 0.75 and constrained within an open pit shell optimized with the Lerchs-Grossman algorithm to constrain the Mineral Resources with the following estimated parameters: gold price of US$1,800/ounce, US$2.50/t mining cost, US$5.50/t processing cost, US$2.00/t G+A, 80% gold recoveries, and 45° pit slopes.

5. The number of tonnes and ounces was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations as per NI 43-101.

In addition to the AurMac Project, the Company holds the Hyland Gold Project, located 70 km Northeast of Watson Lake, Yukon, along the Southeast end of the Tintina Gold Belt (the "Hyland Project"). The Hyland Project represents a sediment hosted, structurally controlled, intrusion related gold deposit, within a large land package (over 125 sq km), accessible by a network of existing gravel access roads.

Banyan trades on the TSX-Venture Exchange under the symbol "BYN" and is quoted on the OTCQB Venture Market under the symbol "BYAGF". For more information, please visit the corporate website at or contact the Company.

ON BEHALF OF BANYAN GOLD CORPORATION

(signed) "Tara Christie"

Tara Christie
President & CEO

For more information, please contact:

Tara Christie • 778 928 0556 • tchristie@banyangold.com
Jasmine Sangria • 604 312 5610 • jsangria@banyangold.com

CAUTIONARY STATEMENT: Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) nor OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

FORWARD LOOKING INFORMATION: This news release contains forward-looking information, which is not comprised of historical facts and is based upon the Company's current internal expectations, estimates, projections, assumptions and beliefs. Such information can generally be identified by the use of forwarding-looking wording such as "may", "will", "expect", "estimate", "anticipate", "intend(s)", "believe", "potential" and "continue" or the negative thereof or similar variations. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's plans for exploration; and statements regarding exploration expectations, ease and confidence in increasing ounces, exploration or development plans and timelines; mineral resource estimates; mineral recoveries and anticipated mining costs. Factors that could cause actual results to differ materially from such forward-looking information include uncertainties inherent in resource estimates, continuity and extent of mineralization, 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, and the other risks involved in the mineral exploration and development industry, enhanced risks inherent to conducting business in any jurisdiction, timing and risk of earning the final 25% earn-in on the properties and those risks set out in Banyan's public documents filed on SEDAR. Although Banyan believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Banyan disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Banyan Gold Corp.

View the original press release on ACCESS Newswire

FAQ

What are the latest drill results from Banyan Gold's (BYAGF) Powerline Deposit?

The latest drill results include intersections of 39.7 metres of 1.92 g/t gold, 40.5 metres of 1.43 g/t gold, and several other significant gold intersections from thirteen diamond drillholes.

What is the current resource estimate for Banyan Gold's (BYAGF) AurMac Project?

As of February 6, 2024, the AurMac Project has an inferred Mineral Resource Estimate of 7.0 million ounces of gold at an average grade of 0.63 g/t gold.

Where is Banyan Gold's (BYAGF) AurMac Project located?

The AurMac Project is located 40 km from Mayo in Yukon Territory, Canada, covering 173 square kilometres with access to main highway and power infrastructure.

What is the gold cut-off grade used in BYAGF's AurMac resource estimate?

The resource estimate uses a gold cut-off grade of 0.30 g/t for both the Airstrip and Powerline deposits.