Banyan Intercepts 2.13 Grams Per Tonne Gold Over 32.6 M, Powerline Deposit, Aurmac Project, Yukon, Canada

Rhea-AI Summary

Banyan Gold Corp (TSX-V:BYN)(OTCQB:BYAGF) has announced results from 21 diamond drillholes at its Powerline Deposit within the AurMac Project, Yukon Territory. Notable intersections include 32.6 meters of 2.13 g/t gold from 14.0 meters depth and 69.3 meters of 0.35 g/t gold from 13.0 meters.

The drilling program has confirmed areas of consistent higher-grade mineralization within the Powerline Deposit. The gold mineralization is associated with low-angle quartz-sulfosalt-arsenopyrite veins and is interpreted to be part of a large intrusion-related gold system. The company expects a Resource update in Q2 2025.

The AurMac Project currently has an inferred Mineral Resource Estimate of 7.0 million ounces of gold (as of February 6, 2024), contained in two deposits: Airstrip and Powerline. The project spans 173 square kilometers and is located 40 km from Mayo, Yukon, with existing infrastructure including highway access and power lines.

Positive

• Strong drill results with high-grade gold intersections, including 32.6m of 2.13 g/t Au
• Large inferred resource of 7.0 million ounces of gold
• Project benefits from existing infrastructure (highway, power, cell coverage)
• Resource update anticipated in Q2 2025

Negative

• Resources are all in Inferred category, requiring additional drilling for upgrade
• Gold grade variability across drill results, with some lower-grade intersections

VANCOUVER, BC, / ACCESSWIRE / January 13, 2025 / Banyan Gold Corp . (the "Company" or "Banyan") (TSX-V:BYN)(OTCQB:BYAGF) is pleased to announce analytical results from twenty-one (21) diamond drillholes collared within the Powerline Deposit located on the Company's AurMac Project, Yukon Territory. This set of holes was drilled in the eastern portion of the Powerline Deposit (See Figure 1) as part of the 2024 AurMac definition drilling program.

Highlights from the most recent assay results:

• AX-24-557: 24.5 metres ("m") of 0.85 g/t Au from 53.5 m

• AX-24-568: 40.3 m of 0.80 g/t Au from 40.3 m

• AX-24-572: 23.1 m of 0.87 g/t Au from surface

• AX-24-576: 20.9 m of 1.05 g/t Au from surface

• AX-24-578: 69.3 m of 0.35 g/t Au from 13.0 m

• AX-24-582: 32.6 m of 2.13 g/t Au from 14.0 m

• AX-24-582: 54.4 m of 0.50 g/t Au from 54.6 m

• AX-24-605: 64.1 m of 0.71 g/t Au from 48.2 m

• AX-24-608: 53.0 m of 0.61 g/t Au from 27.0 m

• AX-24-611: 82.5 m of 0.49 g/t Au from 35.0 m

"This year's program has confirmed areas of consistent higher-grade mineralization within the Powerline Deposit, while strengthening geological controls on the Resource model," stated Tara Christie, President and CEO. "We are excited that this year's program has yielded valuable insights to the potential for broader scale mineralization beyond the Resource update anticipated in Q2, 2025. The validated correlation between mineralization and stratigraphy (See Figure 1), along with our geophysical work (3D geophysical interpretation and ZTEM), has identified both proximate, distal and deep targets - emphasizing the significant growth potential for gold mineralization at AurMac".

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. Figure 1 highlights the correlation between with stratigraphic units and mineralization.

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. Instances of visible gold identified from Banyan's logging of these drillholes are shown in Image 1.

Figure 1: Idealized section 467,100E, Looking west: Powerline Deposit on left and Airstrip Deposit on the right. Mineralization is interpreted to correlate with discrete lithological units. Note: The Powerline and Airstrip Deposits remain open to growth in all directions. (Refer to Table 3 below for Feb 6, 2024 Mineral Resource)

Image 1: Photographs of visible gold from:

A) AX-24-565: 123.4 m to 124.5 m - 4.17 g/t Au over 1.1 m B) AX-24-568: 20.5 m to 20.9 m - 1.50 g/t Au over 0.4 m

C) AX-24-570: 34.2 m to 34.6 m - 4.71 g/t Au over 0.4 m D) AX-24-582: 45.6 m to 45.9 m - 150.7 g/t Au over 0.3 m

Figure 2: AurMac drill hole locations, showing the location of historic and Banyan completed diamond drill holes used in MRE (black and blue dots) and collar locations of 2024 drilling (yellow, red and green dots).

Table 1: Highlighted Powerline Diamond Drill Analytical Results. (Maps, sections and full analytical results will be made available on Banyan's website).

Hole ID	From (m)	To (m)	Interval (m*)	Au (g/t)
AX-24-557	15.4	37.2	21.8	0.56
and	53.5	78.0	24.5	0.85
and	89.0	95.0	6.0	0.87
and	115.0	134.5	19.5	0.39
and	147.1	150.0	2.9	0.51
AX-24-560	35.1	38.2	3.1	0.85
and	49.5	63.5	14.0	0.45
and	92.5	102.0	9.5	0.49
and	138.5	150.7	12.2	0.44
AX-24-562	44.0	60.5	16.5	0.53
and	95.5	115.0	19.5	0.39
and	125.2	131.5	6.3	0.76
AX-24-565	6.1	10.7	4.6	0.59
and	33.5	66.2	32.7	0.53
and	78.0	111.0	33.0	0.43
and	122.5	124.5	2.0	3.08
AX-24-568	19.3	36.7	17.4	0.88
and	77.3	83.2	5.9	0.56
and	101.4	141.7	40.3	0.80
AX-24-570	16.5	34.6	18.1	0.48
and	48.2	69.8	21.6	0.34
AX-24-572	7.8	30.9	23.1	0.87
and	48.8	52.6	3.8	0.73
and	75.3	83.0	7.7	0.28
AX-24-574	8.5	12.5	4.0	0.32
and	21.5	50.0	28.5	0.55
and	72.0	96.3	24.3	0.38
AX-24-576	7.6	28.5	20.9	1.05
and	44.2	44.9	0.7	5.58
AX-24-578	13.0	82.3	69.3	0.35
AX-24-579	16.0	19.0	3.0	0.55
and	51.0	54.0	3.0	0.57
and	84.0	94.5	10.5	0.65
AX-24-582	14.0	46.6	32.6	2.13
and	54.6	109.0	54.4	0.50
AX-24-585	50.2	60.8	10.6	0.50
and	76.4	88.9	12.5	1.06
and	131.6	146.1	14.6	0.36
AX-24-589	18.4	26.3	7.9	0.37
and	50.5	59.0	8.5	1.81
and	136.0	152.7	16.7	0.32
AX-24-601	75.5	78.5	3.0	0.36
and	98.0	128.5	30.5	0.61
AX-24-605	48.2	147.8	99.6	0.52
or	48.2	112.3	64.1	0.71
and	135.8	147.8	12.0	0.36
AX-24-608	27.0	80.0	53.0	0.61
AX-24-611	35.0	117.5	82.5	0.49
AX-24-613	24.4	63.8	39.4	0.59
and	107.4	114.5	7.1	0.47
AX-24-616	20.5	59.0	38.5	0.45
and	114.0	123.4	9.4	0.33
AX-24-621	33.5	58.3	24.8	0.38

*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-24-557	467848	7082955	815	358	-57	207.3
AX-24-560	467955	7082951	820	354	-60	194.5
AX-24-562	468052	7082952	823	359	-62	140.5
AX-24-565	468153	7082951	829	357	-61	150.9
AX-24-568	468256	7082954	842	006	-59	141.7
AX-24-570	467750	7082861	813	004	-56	146.3
AX-24-572	467852	7082849	819	355	-57	106.7
AX-24-574	467862	7082747	819	355	-57	103.6
AX-24-576	467852	7082650	820	358	-57	54.9
AX-24-578	467753	7082650	818	356	-60	100.6
AX-24-579	467758	7082739	816	004	-58	137.2
AX-24-582	467652	7082746	811	358	-61	135.6
AX-24-585	467451	7082954	794	003	-59	147.8
AX-24-589	467554	7082950	799	359	-63	157.0
AX-24-601	467154	7082454	800	358	-62	144.8
AX-24-605	467251	7082456	805	353	-59	163.1
AX-24-608	467353	7082452	807	003	-60	140.2
AX-24-611	467353	7082553	806	360	-60	171.9
AX-24-613	467452	7082454	809	359	-59	123.4
AX-24-616	467555	7082451	813	001	-60	123.4
AX-24-621	467301	7082802	793	352	-61	150.3

Upcoming Events

• Crescat Tombstone Gold Belt Webinar, January 16, 2025, 11:00am PST / 2:00pm EST

• Metals Investor Forum Vancouver, January 17 - 18, 2025

  • Corporate Presentation: January 18, 11:00 AM PST

• Vancouver Resource Investment Conference 2024, January 19 - 20, 2025

  • Exhibitor Booth 103

  • Corporate Presentation, January 19, 200 PM PST, Workshop 4

• AME Roundup, January 22 - 23, 2025

  • Core Shack Booth 919:
    January 22, 9:00 AM PST - 4:00 PM PST
    January 23, 9:00 AM PST - 2:30 PM PST

• BMO 34^rd Global Metals, Mining & Critical Minerals Conference, February 23 - 26, 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 1) 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 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 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 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 accesswire.com

FAQ

What are the latest drill results from BYAGF's Powerline Deposit?

The latest drilling at Powerline Deposit included notable intersections of 32.6 meters of 2.13 g/t gold from 14.0 meters and 69.3 meters of 0.35 g/t gold from 13.0 meters, among other significant results.

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

As of February 6, 2024, the AurMac Project has an inferred Mineral Resource Estimate of 7.0 million ounces of gold, contained in the Airstrip and Powerline deposits.

When is BYAGF's next resource update for the AurMac Project?

Banyan Gold expects to release a Resource update for the AurMac Project in Q2 2025.

What infrastructure does BYAGF's AurMac Project have access to?

The AurMac Project benefits from existing infrastructure including the main Yukon highway, a 3-phase powerline, power station, and cell phone coverage.