Banyan Gold Discusses Resource Growth, Yukon’s Tombstone Gold Belt and Next Steps to Advance Project in New CEO Video Interview on Planet MicroCap
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LOS ANGELES, CA / ACCESSWIRE / August 31, 2023 / Planet MicroCap today published a new Video Interview with Tara Christie, President and CEO of Banyan Gold (TSX-V:BYN)(OTCQB:BYAGF), a gold exploration company focused on advancing and de-risking its 6.2 million AurMac Gold Project (the "AurMac Project") in the Yukon, Canada's newest and rapidly growing mining district, according to the company's website (see here: https://banyangold.com/).
Click the following link to watch the Video Interview:
Banyan Gold on Resource Growth, Tombstone Gold Belt in the Yukon and Next Steps to Advance Project (URL: https://www.youtube.com/watch?v=0RMX8TEAG84)
Banyan Gold will also be presenting at the Precious Metals Summit - Beaver Creek, happening September 12-15, 2023. For more information, please visit: https://www.precioussummit.com/
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About Banyan Gold
Banyan's primary asset, the AurMac Property is comprised of the Aurex and McQuesten properties, as well as claims staked and owned
The 173 square kilometres ("sq km") AurMac Property lies 30 kilometres ("km") from Victoria Gold's Eagle Project and adjacent to Hecla Mining's high grade Keno Hill Silver mine. The property is transected by the main Yukon highway and access road to the Victoria Gold open-pit, heap leach Eagle Gold mine. The AurMac Property benefits from a 3-phase powerline, existing power station and cell phone coverage. Banyan has a right to earn up to a
The Updated Mineral Resource Estimate for the AurMac Property was prepared on May 18, 2023 and consisted of 6,181,000 ounces of gold (see Table 3) hosted within near surface, road accessible pit constrained Mineral Resources contained in three near/on-surface deposits: the Airstrip, Aurex Hill and Powerline Deposits.
Table 3: Pit-Constrained Inferred Mineral Resources - AurMac Property
Deposit | Gold Cut-Off (g/t) | Tonnage | Average Gold Grade (g/t) | Contained Gold (koz) |
Airstrip | 0.25 | 41.2 | 0.68 | 897 |
Powerline | 0.25 | 197.4 | 0.61 | 3,840 |
Aurex Hill | 0.30 | 74.3 | 0.60 | 1,444 |
Total Combined | 0.25 to 0.3 | 312.9 | 0.61 | 6,181 |
Notes:
- The effective date for the Mineral Resource is May 18, 2023. The updated Resource Estimate for the AurMac Property was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., an independent Qualified Person in accordance with the requirements of NI 43-101. The technical report supporting the Resource Estimate (the "Technical Report") has been filed on SEDAR at www.sedar.com effective July 7, 2023.
- 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.
- 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.
- Mineral Resources are reported at a cut-off grade of 0.25 g/t Au for the Airstrip and Powerline and 0.3 g/t Au for the Aurex Hill 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, UD$2.00 /t G+A,80% heap leach recoveries, and 45° pit slope. - The number of tonnes was rounded to the nearest hundred thousand. The number of 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 Property, 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 www.banyangold.com or contact the Company.
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