Banyan Drills 46.4 Metres of 1.31 Grams per Tonne Au, Airstrip Deposit, AurMac Project, Yukon, Canada

Rhea-AI Summary

Banyan Gold Corp (TSXV:BYN)(OTCQB:BYAGF) has announced results from nine diamond drillholes at its Airstrip Deposit, part of the AurMac Project in Yukon Territory. Notable drilling highlights include intersections of 46.4 metres of 1.31 g/t Au and 65.5 metres of 0.53 g/t Au from surface.

The Airstrip Deposit is contained within metasedimentary package and is associated with a large intrusion-related gold system typical of the Tombstone Gold Belt. The drilling program represents the first activity at Airstrip since 2021, demonstrating high-grade gold intervals near surface.

The company's AurMac Project currently has an inferred Mineral Resource Estimate of 7.0 million ounces of gold (effective February 6, 2024), hosted within two near-surface deposits: Airstrip and Powerline. The 173 square kilometer project is located 40 km from Mayo, Yukon, with existing infrastructure including highway access and power.

Positive

• High-grade gold intersections discovered, including 46.4m of 1.31 g/t Au
• Large inferred resource of 7.0 million ounces of gold
• Project benefits from existing infrastructure (highway, power, cell coverage)
• Near-surface mineralization indicates potential for open-pit mining

Negative

• Resource remains in inferred category, requiring additional drilling for upgrade
• No economic studies or mining plans announced yet

VANCOUVER, BC / ACCESS Newswire / January 29, 2025 / Banyan Gold Corp . (the "Company" or "Banyan") (TSXV:BYN)(OTCQB:BYAGF) is pleased to announce analytical results from nine (9) diamond drillholes collared within the Airstrip Deposit located on the Company's AurMac Project, Yukon Territory. This set of holes targeted the western portion of the Airstrip Deposit (See Figure 2) as part of the 2024 AurMac definition drilling program.

Highlights from these most recent analytical results include:

• AX-24-597: 36.2 metres ("m") of 1.14 g/t Au from 20.8 m

• AX-24-598: 21.7 m of 1.35 g/t Au from 51.3 m

• AX-24-600: 23.4 m of 1.35 g/t Au from 36.7 m

• AX-24-602: 65.5 m of 0.53 g/t Au from surface (3.2 m)

• AX-24-604: 46.4 of 1.31 g/t Au from 55.8 m

• AX-24-609: 68.1 m of 0.37 g/t Au from 38.9 m

• AX-24-612: 64.5 m of 0.36 g/t Au from 149.5 m

• AX-24-615: 62.5 m of 0.44 g/t Au from 133.4 m

"These results from the first drilling on the Airstrip deposit since 2021 demonstrate high grade gold intervals near-surface over appreciable widths, showcasing the potential for resource expansion," stated Tara Christie, President and CEO. "Updated interpretations by Banyan based on ongoing geological modelling and geophysical studies have identified the Airstrip deposit as a key component for the rapid increase of near-surface high-grade gold ounces at AurMac. These results underscore its potential."

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, and Map B presents an update of all analytical results through this January 29, 2025 news release.

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

The Airstrip Deposit is contained within a metasedimentary package which consists of predominately schists, quartzites and limestones of the Mississippian age Sourdough Hill Member of the Keno Hill Formation. Gold mineralization here is chiefly associated with pyrrhotite-bearing skarn altered calcareous schists and with low angle quartz-sulfosalt-arsenopyrite veins seen crosscutting all lithologies. Gold mineralization 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 Airstrip Diamond Drill Analytical Results.

Hole ID	From (m)	To (m)	Interval (m*)	Au (g/t)
AX-24-597	20.8	57.0	36.2	1.14
and	71.7	75.5	3.8	0.49
AX-24-598	26.2	28.0	1.8	4.94
and	51.3	73.0	21.7	1.35
and	88.5	94.5	6.0	4.07
AX-24-600	36.7	60.1	23.4	1.35
and	72.4	79.0	6.7	1.28
AX-24-602	3.2	68.7	65.5	0.53
and	93.5	100.7	7.2	3.75
AX-24-604	24.0	30.7	6.7	0.47
and	55.8	102.2	46.4	1.31
and	143.0	159.5	16.5	0.55
AX-24-607	13.0	42.2	29.2	0.61
AX-24-609	38.9	107.1	68.1	0.37
and	121.1	130.5	9.4	0.42
AX-24-612	82.1	97.9	15.8	0.55
and	108.1	114.0	5.9	1.31
and	149.5	214.0	64.5	0.36
and	224.3	228.9	4.6	3.65
AX-24-615	28.0	63.3	35.3	0.33
and	76.7	79.9	3.2	0.64
and	108.7	113.0	4.3	0.37
and	133.4	195.9	62.5	0.44

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

Table 2: Drill Collar Location for Released Results

AX-24-597	466720	7084005	761	001	-59	131.1
AX-24-598	466703	7083964	759	001	-59	149.4
AX-24-600	466683	7084003	755	352	-62	115.8
AX-24-602	466738	7083949	756	353	-58	136.3
AX-24-604	466664	7083948	749	006	-61	170.7
AX-24-607	466658	7084011	749	358	-58	114.3
AX-24-609	466715	7083901	749	008	-55	175.3
AX-24-612	466774	7083743	759	005	-59	248.7
AX-24-615	466459	7083765	724	357	-61	243.8

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 Property

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, and 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 drilling results from BYAGF's Airstrip Deposit?

The latest drilling results from January 2024 include notable intersections of 46.4 metres of 1.31 g/t Au and 65.5 metres of 0.53 g/t Au from surface, among others.

What is the current resource estimate for BYAGF's AurMac Project?

The AurMac Project has an inferred Mineral Resource Estimate of 7.0 million ounces of gold, effective February 6, 2024.

Where is BYAGF's AurMac Project located and what infrastructure is available?

The AurMac Project is located 40 km from Mayo, Yukon Territory, and benefits from highway access, 3-phase powerline, power station, and cell coverage.

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

The resource estimate uses a gold cut-off grade of 0.30 g/t for all deposits, based on a US$1,800/oz gold price.

When was the last time BYAGF drilled at the Airstrip Deposit before these results?

The current drilling program represents the first drilling activity at the Airstrip Deposit since 2021.